How To Use the MISO Platform?
We are more than thrilled to launch our $IBY token IDO on Sushi’s MISO platform, but there’s one more thing we’ve got to do for our beloved community.
To make things a bit easier for you, we’ve prepared an A-Z tutorial on how to enter the auction. After you’re finished, expect only magic.
First things first. To access the MISO application click on the following link.
You’ll be met with a screen similar to the image below.
You will need to ensure your wallet is connected to MISO. This can be done by clicking the CONNECT button in the top-right of the page.
MISO supports MetaMask which we’ll use for the purpose of this guide.
For the purpose of purchasing $IBY, your MetaMask networks should be set to “Ethereum mainnet”.
This will reflect in the MISO dashboard.
Once a wallet is connected — you’ll be able to access the live sales through the following link. You’ll be met with a screen similar to the one pictured below.
For the purpose of this guide, we’ll use “IBY TEST” which can be accessed through the Rinkeby network.
After selecting the livesale, information and inputs will open up on the right-hand side of the page, taking the place of the countdown and allowing participants to begin transacting with the Auction contract.
The STATUS indicator will change from Upcoming to Live and a COUNTDOWN timer will begin according to the Auction Duration set by the auction creator.
These market specifics have been broken down further into 3 sections (denoted by the colored boxes below).
Market Parameters (RED) — This information is generated from the live auction contract. Currently, these 4 indicators are universal across our Market offerings.
TOKENS REMAINING and PARTICIPANTS are generated from contract interactions throughout the course of the auction.
Auction Progress (Blue) — Whilst the layout and information may vary depending on the Market type selected — this middle section is where you’ll find the specifics around the auction itself.
See the below image for examples from the different market types, but in general expect to find the current token price, any auction raise goals as well as an indicator of progress in regards to value and duration.
The Dutch auctions descend in price, the crowd sales move towards the target’s price and the batch auctions rise in value.
Participation Controls (Green) — At the bottom of the Auction details panel you’ll find your controls for participating in the auction itself.
In our example we have Ether selected, however, the currency used in the auction is set by the auction creator themselves — so be sure to check you’ve got the right token in your wallet!
When you’re ready to make your commitment, there are two options available. Simply input in the text field how much of the sale currency you’d like to send, or alternatively use the slider to set how much of the token on offer you’d like to receive. However you decide, the total transacted from your wallet will be displayed next to the COMMIT button.
Once you are happy with your commitment amount, clicking the COMMIT button will bring up a series of MetaMask approvals to handle the transferring of your tokens to the auction contract.
Claiming your Tokens
Auctions can often progress long after you’ve made your commitment. Your tokens will be held by the auction contract until the parameters are met for the auction to end.
Whether the auction was successful or failed to reach its goals, you will still need to return after the auction has been finalized to confirm the transaction of your tokens. If the auction was successful MISO will transfer you the tokens you are owed, along with any “change” in your original currency. For an unsuccessful auction, MISO will simply return your previously committed funds — less any fees.
In the event that the auction creator does not finalize a successful or unsuccessful auction, MISO currently has a mechanism to allow any auction participant to finalize after 14 days. This will allow all participants to claim their tokens back using the method outlined above.
There you have it! If there’s anything else you’re wondering about iBetYou, SushiSwap or MISO, feel free to find additional information below!
SushiSwap is an automated market-making (AMM) decentralized exchange (DEX). In addition to DEX, SushiSwap involves a collection of governance, operations, and reward contracts that help grow the SushiSwap ecosystem and utilization.
MISO is a suite of open-source smart contracts created to ease the process of launching a new project on the SushiSwap exchange. MISO is a place for token creators and communities to launch new project tokens. We aim to create a launchpad for both technical and non-technical project founders, which will allow communities and projects access to all the options they need for a secure and successful deployment to the SushiSwap exchange.
iBetYou uses the basic principles of betting and kicks it up a notch with crypto wizardry, powered by MATIC, AAVE and Moonbeam. When a bet is placed both the challenger and their opponent send the stake amount to a smart contract that holds the crypto in escrow. The stake is then tokenized and held in interest-yielding protocols on the AAVE platform. The crypto generated from interest is shared proportionally between the judges and the IBetYou Community at the conclusion of the bet.