HOW TO SWAP AND CLAIM YOUR TOKENS ON RED KITE

Alex

Published in

Red Kite

6 min readMay 10, 2021

1. BEFORE SWAPPING TOKENS

Please follow this step-by-step before you can buy and claim your tokens on Red Kite.

1.1. Step 1: Go to Red Kite Website

Go to https://redkite.polkafoundry.com/
Click Pools or View All Projects to view the Pools Dashboard

1.2. Step 2: Connect Wallet

You MUST connect the wallet address which you have already registered on Red Kite BEFORE the token pool is opened.

We currently support MetaMask and WalletConnect.
Make sure you are under the Ethereum network.

1.3. Step 3: Open Pool’s Details

Select a pool on Dashboard to open its details.
You can check the countdown to the pool opening on the right side of the screen.

1.4. Step 4: Confirm your individual cap and wallet balance

You can check your individual cap on the banner at the bottom of the pool status OR the message under Tier Progress.
Make sure to check your wallet balance of USDT and/or ETH (for the gas fee) as well before the pool opening time.

2. HOW TO SWAP TOKENS?

After you have done all the above steps, you just need to wait until the pool is open.
When it comes to the Pool’s opening time, the pool details page will be automatically refreshed and the Main tab will be displayed:

The Pool status is In Progress.
You can see when the token sales will end by looking at the “End buy in” countdown on the right side of the screen.
Main tab is where you can buy tokens.

2.1. Step 1: Approve USDT

It is required to approve USDT before starting to buy a token, BUT you need to Approve once (and only once) before you can start purchasing.
Navigate to the Main tab:

You can check your individual cap here.
Input the USDT amount you want to approve (or click Max to auto-fill with your max) here.
The token will be automatically calculated based on the USDT you input and the exchange rate (which is described in the pool’s detailed information).
Confirm all the information and click Approve.

Metamask will prompt you to confirm the transaction.
After you confirm, you’ll see an option to view your transaction on Etherscan.
Make sure to check the USDT balance on your wallet,
Make sure you have ETH on your wallet for the Gas fee,
Only Gas fee is deducted from your wallet. Your USDT balance remains the same,
Once you approved, you don’t need to approve again
You can check the transaction on Etherscan

2.2. Step 2: Buy tokens

Once you approve successfully, the Approve button will be changed to Approved and disabled.
In order to buy Tokens, please enter the USDT amount (or click Max to auto-fill with your max) and click the Buy button.

*Notes: Please be aware that some of the circumstances below may prevent you from swapping tokens.

The token sale schedule may vary depending on your tier. You will not be able to buy tokens until the starting purchase time of your tier is reached. Please click on the My Tier tab to check the schedule.

2. It reaches the maximum Swap Amount. You can check the information on the Swap Progress bar.

3. Your wallet balance of USDT and/or ETH (for the gas fee) is insufficient

4. You haven’t approved USDT yet. Please check the 3.1. Step 1. Approve USDT for more details.

5. You have reached your maximum individual cap. The Buy button will be disabled.

The “Token Deposit Successful” message will be displayed after your transaction is confirmed and processed successfully. You can check your purchased tokens on the Claim Token Area and just have to wait for the pool time to finish before being able to claim and withdraw them.

3. HOW TO CLAIM TOKENS?

Once the pool time ends you will be able to claim your tokens. In order to claim your tokens please open the page of the pool you participated in (You can check 2.3. Step 3: Open Pool’s Details) and navigate to the Claim Token Area.

Click the Claim button. Metamask will open and you’ll have to confirm the transaction. You will get your tokens in your wallet shortly thereafter.

The Claim button will be enabled once the claim time ends.
Make sure you have ETH in your wallet for the Gas fee when claiming tokens.

4. WHO CAN SWAP TOKENS?

Pool Whitelist’s Winners.
Have connected wallet (Which described in the step below)

Important Note:

After the whitelist’s winners are selected and announced, if your tier is lower than the one at the time of selecting the whitelist’s winners due to unstaking tokens, you will lose the right to swap tokens.
Conversely, tiering up does not affect your individual cap, which was already announced before the pools opened.

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About PolkaFoundry

PolkaFoundry is a platform for building borderless and frictionless DeFi dApps on Polkadot. It aims to be the one-stop production hub for DeFi dApps with all the necessary features, services, integrations, and tools for DeFi experiments, innovations, and real-world solutions.

Taking advantage of Polkadot’s interoperability and scalability and integrating many DeFi-friendly services into the platform, PolkaFoundry also provides UX-enabling features that make dApps as easy to use as normal applications and bring dApps to the masses.