The ultimate guide: Participating in a Polygen FLO.

What is Polygen?

Polygen is the Community’s Launchpad, the first truly decentralized launchpad where projects are free to innovate, experiment and launch their ventures with no gatekeepers, no whitelist and no whales. Projects have complete freedom to decide how much they want to raise, what auction mechanism they want to use, how they do their tiering, and they can operate any Project round (seed, private, public), or connect rounds.

Traditional launchpads only select a few Projects to launch every month via gatekeeper panels based on their strict ROI criteria. They are focused on short-term results and achieving a large return multiple to satisfy the needs of their short-term investor communities. Great projects may miss out, Projects must get it exactly right the first time and Projects must adhere to the launchpad’s requirements.

At Polygen, we have created a huge opportunity for a rich and diverse community that is focused on the long-term success of Projects and is inspired by innovation. There is no whitelist or lottery process to participate in a Polygen FLO. Simply complete our KYC process, and you are able to fund the Projects you love!

How to participate in Polygen FLOs?

Please follow these simple steps to participate in Polygen’s upcoming FLO on Polygen.

Some quick points:

• For Polygen BETA, you will only be able to connect on your desktop computer. Mobile version will be available in the next release.
• You will need to have a MetaMask Wallet.
• You need a small amount of MATIC in your wallet to cover KYC gas fees, you can visit a faucet like MacnCheese to do this, or use our manual faucet.

Step 1: Follow Polygen on Social channels

The easiest way to learn about upcoming PGEN FLO’s is on our announcement channels. Keep up with our Twitter, Telegram and Discord for announcements, and check in regularly to our Medium and website for more information.

All channels can be found here: https://linktr.ee/polygenlaunchpad

Step 2: Visit https://app.polygen.io/ on your desktop browser

Or visit our website at www.polygen.io and click on the “Launch App” button in the top right corner.

Please note you will need to be connected to the Polygon (Matic) Network. If not, you will see this message:

If you don’t have Polygon ( Matic) Network already, follow these instructions:

Step 3: KYC

Once you’re on Polygon (Matic) Network, complete the KYC process.

As there are no Whitelists and No Lotteries on Polygen, anyone who successfully completes our KYC is guaranteed access to our FLO’s to buy and sell rTKN during our fundraise period.

Step 4: Connect MetaMask

When you have completed KYC click on the “Connect” button at the top right of this page to connect your MetaMask Wallet. Again, ensure you are signed in to Polygon (Matic) Network on Metamask.

Step 5: Fund your wallet with USDC ( Polygon )

If you don’t have any USDC you can purchase directly from MetaMask (Mobile app only) or buy from a centralized exchange such as Binance.

Once you have USDC ( ERC20 ) you need to then swap it to USDC (Polygon) to do this you can head here and follow the instructions.

Step 6: Seed a Project

Seeding is where you can provide liquidity for the raise pools of the projects you love, which enables you to earn rewards. Investors, incubators and community members can all provide liquidity for the seed raise pool. Each project will set the rewards for providing liquidity seeding in their project description. Sometimes projects will choose to seed the full amount, in that case there will be no ‘seed’ option available on the day of FLO.

How to seed a project

1. Click <Seed> on the top bar of the DAP and this will redirect you to the ‘Seed a Project’ page.
2. Pick your desired Project and click <Seed> beneath its logo. This will redirect you to the Projects ‘Project Description’ page.
3. On the right side of the page beneath ‘Seed this raise’ click <Connect Wallet>
4. Connect your Metamask wallet by clicking <Metamask>
5. Beneath ‘Buy’ enter the number of seed tokens you want to buy
6. Click <Seed (amount) USDC>, our software will come up with an automated message which says “Your seed exceeds your approved allowance for USDC”, IGNORE this message and click <Approve>
7. You will then be redirected to Metamask’s page and you will need to grant us permission to access your USDC, click <Confirm>
8. You then need to confirm the amount of sTKN that you are buying. Check the ‘Number of sTKN, price in USDC, fees after a successful raise’ section and then click <Confirm Transaction>
9. You will be redirected to MetaMasks page again where you need to confirm the total amount plus the gas fee, click <Confirm>
10. You will then need to confirm seed, click <Ok> — This is the final step for Seed
11. Your sTKN balance will be shown under the ‘Refund Seed’ section

Step 7: Fund a raise

When the event is fully seeded, the project will move to raise stage and your sTKN will be auto-swapped to rTKN, a tradeable, temporary token that is used to participate in raises. You will see the total raise target amount also includes any fees accrued during seed phase.

Funding is where you can buy your favorite project raise tokens (rTKNS) and help them hit their raise target. Investors buy rTKNS with USDC and sell rTKN for USDC. rTKN is freely tradeable during the Fair Launch Offering Period allowing price discovery.

NB: To work out the amount of projects tokens you will receive, use this calculation:

*Amount of TKN in the pool / rTKN sold*

Example below as per the PGEN sale on Polygen:

4,000,000 (TKN in the pool)/568,990 (rTKN sold) = 7.03 PGEN

1 rPGEN = 7.03 PGEN

For more information on raise tokens and calculations, see here.

How to fund a raise

1. Click <Fund> on the top bar of the DApp and this will redirect you to the ‘Fund a Project’ page.
2. Pick your desired Project and click <Fund> beneath its logo. This will redirect you to the Projects ‘Project Description’ page.
3. On the right side of the page beneath ‘Swap’ enter the amount of USDC you want to swap for rTKN, then click <Swap>
4. Our software will come up with an automated message which says “Your seed exceeds your approved allowance for USDC”, IGNORE this message and click <Approve>
5. You will then be redirected to Metamask’s page and you will need to grant us permission to access your USDC, click <Confirm>
6. You then need to confirm the amount of USDC you are swapping for rTKN. Check the ‘price and minimum received’ section and then click <Confirm Swap>
7. You will be redirected to MetaMasks page again where you need to confirm the total amount plus the gas fee, click <Confirm>
8. You will then need to confirm swap, click <Ok> — This is the final step for Fund

Now, this is where it gets interesting.

Because we use a Fair Launch Offering, — the price of rTKN at the beginning is set at a fair price by the project. The more tokens you buy at once, the higher the price goes. The price is on a downward trajectory, so over the course of the raise it will reduce, if no-one buys. If you believe in the project- you’re going to buy at the price that seems fair to you, and the price that will help the Project keep moving forward with their raise and roadmap.

As you buy and sell tokens, it’s up to you to decide your limits- ask yourself, am I willing to pay that price, or wait? If you fully believe in the project, then you will already have your maximum price in mind — use that as an indicator.*

NB: To access the charts, toggle “ Advanced” on the top right of the screen and then click ‘My transactions’ underneath the chart.

Here’s a video explaining how the auction mechanism works, and why:

Step 8: Project success

A raise has a fixed duration (timer) but the raise window is open until a participant manually hits ‘finalize raise’ which gives people a window of time to ensure that a raise doesn’t fail.

If a project is successful and the raise amount is reached, then you will be able to redeem your tokens in the form of USDC at the rate shown, plus the seed fee (if you are the seeder).

Fun fact: a project can raise much more than their initial raise goal.

Step 9: Redeem your tokens

After a successful raise you can claim your project tokens. Investors who hold rTKN redeem (burn) for their project token allocations. Also, seed liquidity providers will receive raise pool funds back plus their reward.

!!! IMPORTANT NOTICE !!! Please note that after the project raise is done, you will have to wait for us to populate the pool with reserve tokens before you can claim your rTKNs for pTKNs. If you go ahead and burn your rTKNs before we make the announcement, it will end in total loss of your TKNs and you will not be able to claim them back at a future time !!!

How to claim

1. Click <Claim> on the top bar of the DApp and this will redirect you to the Projects description page.
2. Under the ‘Redeem tokens’ section click <Connect Wallet>
3. Connect your MetaMask wallet by clicking <Metamask>
4. Under the ‘Redeem tokens’ section enter the amount of project tokens you want to redeem then click <Redeem>
5. You will then be shown how many tokens you will receive, then click <Confirm Redeem>
6. You will be redirected to Metamasks page where you need to confirm the total amount plus the gas fee, click <Confirm>
7. Your redemption will then be complete, check your new USDC and project token balance then click <Ok>
8. Then to redeem your seed tokens ( if you seeded the project), under the ‘Redeem seed tokens’ section click <Redeem>, check the amount of sTKN you are redeeming for USDC then click <Confirm redeem>
9. You will be redirected to Metamasks page where you need to confirm the total amount plus the gas fee, click <Confirm>
10. You will be shown the amount you were refunded in USDC then click <Ok> — This is the final step for Claim

What if a raise fails, do I get a refund?

If a project fails, then you will be able to claim back your raise token for more or less tokens than swapped originally. This is because you are redeeming for the average swap value, not the value you originally swapped at.

For example you bought 1000 rtkn at $0.05 ($50) but the average rtkn was $0.04 ($40), you will be refunded the average amount with a potential loss of $10. Alternatively you would make a profit of $5 if 1000 rtkn was bought at 0.035 and average token price was 0.04.

This protects everyone in the case that the raised reserve is too low for the project owner to execute their roadmap and on the other hand incentivises token purchases when the price is lower than average, if a raise is close to failing, thus making it more likely to succeed.

For more information please join our Telegram chat where we post regular updates, AMAs and livestreams.

This is not financial or investment advice, please do you own research.

The projects listed on our DApp do not represent an endorsement by Polygen. Please note that by participating in any of these auctions, you are participating in a high-risk endeavor and the value of the project tokens that you’ve received in exchange for providing liquidity to an auction might end at 0. Polygen is not liable for any losses that you incur by using our platform.