IDO - Participation Guide
Last updated
Last updated
A comprehensive guide on how to participate in the AlgoDAO $ADAO token IDO sale
The AlgoDAO community and ecosystem is now live, and we are proud to announce the hosting of our own IDO on our native platform. In order to participate in the IDO, there are a few key steps to make sure your transactions are smooth and successful.
Please take a moment to read through this step-by-step guide for buying ADAO tokens in our initial public round. We will cover the basic setup and procedure for you to get into the round correctly!
The first step in the participation journey is to create a wallet suitable for the Algorand network. If you are already set up with an Algorand wallet you can skip ahead to step 2.
There are several wallet options available for participation.
MyAlgoWallet (Browser-based)
Pera Wallet (Mobile)
AlgoSigner (Browser-based)
MyAlgo is a browser-based extension that is compatible with all browsers.
Create a new wallet — https://wallet.myalgo.com/new-account.
2. Create a password for accessing your wallet and signing transactions.
3. Select new account.
4. Record Mnemonic Phrase in a safe spot. Please note this Phrase very important and it is the only way you can access your account if you forget your password.
5. Verify your Mnemonic Phrase by identifying the correct word placement.
6. You have now successfully created an Algorand compatible wallet.
To participate in the ADAO IDO you will need to hold a minimum amount of $ALGO in your wallet and the token required for IDO participation. In our case, it is $USDC.
There are a few options to fund your wallet. If you are using Pera Wallet you can buy $ALGO directly on the app through Moonpay. Alternatively, you can send $ALGO from most major CEXes (centralized exchanges) to your wallet address.
Proceed to your wallet and press the receive button to get your unique wallet address
Once you have funded your wallet with $ALGO you will need to add $USDC as an asset inside your wallet.
Select add asset.
Select USDC Asset id 31566704.
You will now be asked to sign a transaction to add the asset.
Once you have signed this transaction you should now see two assets inside your wallet.
Your wallet is now set up to receive $USDC.
To fund your wallet with $USDC there are three options:
Swap $ALGO for $USDC on Tinyman DEX https://app.tinyman.org/#/swap?asset_in=0&asset_out=31566704
Swap $ALGO for $USDC on Pact DEX https://app.pact.fi/swap?pair=ALGO0/USDC31566704(30)
Send $USDC directly to your Algorand wallet from KuCoin exchange by selecting withdraw on the Algorand network
Visit our site ⇒ https://app.algodao.fi/IDO.
Please take a moment to double-check the URL is: https://app.algodao.fi/IDO and that the page has a valid SSL certificate (lock symbol to the left of the URL).
You should now see this screen.
Click Connect Wallet and select the wallet you wish to use.
Unlock your wallet with a transaction.
Once you have selected your wallet you will need to opt-in into the AlgoDAO platform.
You will then need to sign a transaction that opts you into the platform and the $ADAO and $SIGMA assets as below.
You will now be prompted to select which wallet you would like to use, Your opted in wallet will have “Use” visible instead of “Opt-In”.
Sign a “no fee” transaction request in your wallet.
Now that your wallet is connected to the AlgoDAO platform you are ready to participate in the IDO.
Confirm you are not from a restricted area and then click proceed.
Opt-in to IDO.
Confirm Opt-in with a transaction.
You can now participate in the IDO once it is open as directed by the start date and time.
Confirm transaction in your wallet.
Wait for unlock of the CLAIM button.
Claim unlocked tokens.