Your Pre-Nectar ICO Checklist: What You Need to Know

Published in

PolySwarm

3 min readFeb 1, 2018

The Nectar ICO starts on Feb. 20, 2018 and it’s time to get ready to contribute! Here’s what you need to know to get signed up ahead of time.

Security First: Warnings

https://tokensale.polyswarm.io is the only place to purchase NCT. Anyone telling you otherwise, e.g. claiming to offer discounts on another site is trying to scam you.
Never hand out your wallet’s private key. We will not request your private key. Any website purporting to represent PolySwarm requesting your private key is a scam.
We highly recommend using a hardware wallet.

If you’re ready to register, follow the steps below.

Step 1: Register on the site. (Complete KYC)

Register now, well before the sale starts and complete all fields of your profile. Some fields are not strictly required, but populating them all will help us verify your identity.

Step 2: Make a non-exchange ETH wallet.

You CANNOT purchase NCT from a wallet hosted on an exchange. If you try to purchase NCT from an exchange account, you risk losing all the ETH contributed. You must use a non-exchange wallet.

Make an ETH wallet in your software of choice, e.g. MetaMask or MyEtherWallet. As security professionals, we recommend using a physical Hardware Security Module (HSM) such as a Ledger or a Trezor to generate and hold your private keys.

If you go the HSM route, remember to consider the device’s progeny: do not buy your HSM on eBay or from anyone who isn’t the manufacturer or an authorized reseller.

Once you have your contribution wallet (not an exchange wallet), make sure its public address is added to your Profile at https://tokensale.polyswarm.io

Step 3: Fund your wallet.

All Nectar tokens will be purchased with ETH, and as such, it’s important to get your wallet loaded with however much you want to use (contribution amount + a small amount more for Ethereum’s gas costs). Note that the price of a token is 31337 NCT for 1 ETH.

Purchase ETH from a reputable exchange and transfer that ETH to your non-exchange account you created previously. Newcomers will probably find exchanges like Coinbase or Kraken to be easy to use andunderstand.

Step 4: Use your unique contribution transaction data and make a contribution.

During the token sale, if you have satisfied our KYC requirements and go to make a NCT purchase, you will be presented with signed transaction data that you must use when contributing to the sale. If you do not send this data, your contribution will be rejected. This data is only valid for a single purchase. If you decide to make additional purchases, you need to use the Purchase Page to request additional contribution data.

This process may be daunting for some, so we’ve integrated with MetaMask to build a one button click that will allow you to contribute without having to worry about copying transaction data into your contribution. We highly recommend that you install the MetaMask extension in your browser prior to sale.

If you do not have MetaMask installed, you must place the signed transaction data into the data field of you wallet of choice. On MyEtherWallet, for example, click “Advanced and Data,” which will reveal the data field. Copy and paste the signed blob into that field.

The Basic Attention Token (BAT) crowdsale required the same data field and has great instructions on how to fill it in using MyEtherWallet: https://basicattentiontoken.org/bat-smart-contract-deployed/BATCrowdsaleHowTo_myetherwallet-1.pdf

If you have any questions, please reach out to us on Telegram @PolySwarm to get answers!