MISO (Minimal Initial SushiSwap Offering) is a permissionless launchpad platform where one can easily create and auction off their own token listings, even with minimal knowledge on how Web3 or smart contracts work.
How Do I Take Part In A MISO Auction?
You can access MISO auctions by clicking the MISO → Marketplace tabs located at the top of Sushi’s UI. The page will show you a panel of the current, upcoming & finished auctions.
Participating In An Auction
Prior to participating in an auction, do take time to look through the information provided. Ensure that it is the genuine auction for the project you are looking to buy into; not an imitation or scam. This can be determined by looking at details such as:
- Website links
- Quality of written descriptions
- Images and banners used
- Tokenomics / Whitepaper
- Price of token (e.g. multi-chain launches)
- Tickers and token supply
- Who is (or perhaps rather who isn’t) committing to the auction
- Contract address of the auction
Pretty much everything is of importance when determining the legitimacy of a project launch! Even with the assessment of everything listed above, it may still be wise to consult related social media/support from existing protocols to verify if they are actually the ones running the auction.
If everything checks out and you are prepared to commit to the auction, you’ll find that doing so is very easy. Simply input the amount you want to commit into the Participate tab as shown below.
You will need to Approve what is a token approval article the currency before committing the bid into the auction. This is a requirement for every new auction you participate in, since every single contract is different. After approving the contract, the button will now display Commit.
Once you click Commit, you will be given one final prompt. The UI will also show your committed swap rate. Click Confirm Commit and approve the transaction to finalize your participation!
After receiving confirmation that your transaction is successful, you will notice that your commitment & wallet address will get listed in the Commitments tab. All you have to do now is wait for the auction to end and be finalized. Until then, you will not be able to claim any tokens. If the auction is successful, MISO will transfer you your tokens, along with any "change" in your original currency. For an unsuccessful auction, MISO will return any previously committed funds minus fees.
Claiming Tokens
Once the auction has been finalized, you will be able to claim your tokens. Simply click the Claim button and sign a transaction to receive the tokens directly to your wallet address. You can double check the transaction on a block explorer to verify that you now have the auction tokens in your wallet.
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