Allowlisting Process for the IDOs on Polkastarter

💡  Getting allowlisted means your wallet address will be eligible to participate in an IDO or NFT sale that you applied for. 

Step 1: Apply for the project

To become eligible, you must apply to each IDO/NFT sale allowlist. You can find currently open projects on our Project page: https://polkastarter.com/projects. 

Open projects are marked with 'Allowlist open' status in the top right corner of the project card

Once you choose the project, click on the Apply button and fill out the form. Remember to put the correct details, like your email and wallet address. This data will later be used for KYC! 

*  The list of restricted countries is at the top of the allowlist application form.

* You can use @ with your Twitter handle or simply put your username. Both ways are equally fine. 

* Double-check the details! The form cannot be edited after submission. 

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Step 2: Become eligible - 3 ways

💡  The more POLS Power you have, the higher your chances of becoming allowlisted. 

You are not spending your POLS when you apply for an allowlist: your POLS and LP tokens just reflect as POLS Power, an aggregator that counts the eligible POLS balance across several sources. You can apply for as many projects as possible with the same POLS Power!

🤔💭 What is POLS Power?

To be eligible, you must accumulate at least 1,000 POLS Power. The more, the better. Allowlisting is based on the lottery system: every 1,000 POLS Power = 1 additional ticket. Addresses are chosen randomly, so if your wallet has more than 1 ticket in the submission, your chances of being selected are higher.

* You can check the approximate lottery probability on the Dashboard. 

💡  There are 2 supported chains for $POLS - Ethereum and BNB Smart Chain - both are counted equally

✅ 1. Hold POLS in your wallet for a minimum of 7 days

You must hold at least 1,000 POLS in your wallet on either Ethereum or BNB Smart Chain. 

The more POLS you own, the greater your chances of being allowlisted. 1,000, 3,000, 10,000, 30,000, 50,000… For every 1,000 more, you get an additional ticket.

✅ 2. Hold POLS liquidity provider (LP) tokens for a minimum of 7 days

• Uniswap: Each ETH-POLS LP token is the equivalent of 100 POLS. Therefore, 1,000 POLS required for a ticket is equal to 10 LP. 
• PancakeSwap: Each BNB-POLS LP token is the equivalent of 20 POLS. So 1,000 POLS required for a ticket is equal to 50 LP. 

✅ 3. Stake POLS 

Allowlist is closing soon? Stake your tokens on the Dashboard instead of keeping them in your wallet. Staking grants instant allowlist eligibility but locks your tokens for 7 days.

For more details, check POLS staking.

ℹ️ POLS Power boosters

Boosters multiply your tickets according to the tier you are in. For example, if you have 3000 POLS, your tickets = 3000/1,000 x 1.15. You will be entitled to 3.45 tickets in the lottery. 

* The lottery system allows for fractional tickets, like 3.45 in the example above. 

POLS Booster Tiers for Allowlist:

• 1,000+ POLS = 1.1x
• 3,000+ POLS = 1.15x
• 10,000+ POLS = 1.20x
• 30,000+ POLS = 1.25x & No Cooldown
• 50,000+ POLS = Guaranteed Allowlist Spots, No Cooldown, Higher Allocations, and other benefits.

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Step 3: Check your application status

When the application deadline has passed, and the lottery is generated, it's time to check if you are a lucky winner!

👉 Go to the Dashboard and check the application status. If you are 'Preselected', congrats! You can proceed to the next step. 

* If you are Unlucky, set a cursor over your status to find out why.

🤔💭 Where to check my application status?

🤔💭 Why do some applications not succeed?

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Step 4: Pass KYC

💡 This step currently applies to IDOs, but not INOs; NFT sales do not require participants (buyers) to pass KYC. 

All the 'Preselected' users will be asked to do KYC. When the KYC opens, the status of your application will change to 'KYC open'. 

There are 2 ways to start the KYC process:

1. Via email sent by the project to your mailbox (always check the validity of the email with the project!)
2. Directly from the Dashboard, by clicking on the 'KYC open' application status. 

* All of the IDO participants must pass KYC in order to become allowlisted!

It's worth mentioning that the project is in charge of KYC. Polkastarter advice in the process. You can read more about KYC for Polkastarter IDOs here. 

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Step 5: Recheck your application status and join the sale

After KYC is completed, the list of all successfully verified participants is sent back to Polkastarter by the project. Those users become the final allowlisted participants and will be able to join the sale!

The status typically changes shortly before the sale. But if you received the confirmation of passing KYC from the KYC provider, you should worry not - you just need to wait at this point. 

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That's it - if you are now allowlisted, congratulations! 🥳

You may now want to know how to prepare for the sale! 

👉 Prepare for the sale on Polkastarter