Interested in participating in the SpankChain auction, but not sure where to start? Here is a step by step guide on how to participate:
Step 1: Install the MetaMask Chrome extension.
We want to make the auction experience easy and secure. MetaMask allows you to run Ethereum dApps in your browser without running a full Ethereum node. The Google Chrome extension turns your browser into an ethereum browser, letting websites retrieve information from the blockchain and letting users securely manage identities and signed transactions. MetaMask provides:
- An additional security layer as it includes a secure identity vault
- Provides a user interface to manage your identities
- Sign blockchain transactions.
To Install, follow their instructions here. Users must install MetaMask to participate.
Step 2: Sign in with your Metamask Wallet to begin.
Login to the SpankChain auction with your MetaMask account. Click on the browser extension and make sure you’re signed in. To get ready to participate, make sure your account is funded with ether.
Step 3: Click on Sign button in the MetaMask dialog
This will give you access to the SpankChain tokens.
Step 4: Fund Your Auction Balance
In the right panel, you will see that the auction status is “Live”. Enter the desired amount of ETH that you wish to contribute and click on “FUND”. This can be any desired amount over the minimum which is 0.69 ETH.
Once you fund your deposit an EtherScan link will popup to confirm your transaction. You will be able to click on it and confirm that your transaction was successful.
Fund Your Auction Balance
Step 5: Place Your Bids
Place your bids in the right panel by entering your bid with a desired contribution amount of ETH and then, selecting a market cap. Our recommendation is 120 million to increase the likelihood that one of your bids will be accepted. However, this number is entirely up to you and you will be able to set the amount you want.
Once you’re happy with the bid amount and the market cap, click “PLACE BID”. A MetaMask Dialog window will open up and click “SIGN”. You will be able to see your history of successful bid.
All bids that are not accepted at the conclusion of the auction will be refunded minus gas costs. All accepted bids will receive SpankChain token!