How to Participate in the $XDEFI Dutch Auction on MISO

Our IDO on MISO took place on Monday 15 November 2021 at 14:00 UTC and ended on Tuesday 16 November 2021 at 14:00 UTC. 8,880,101 remaining $XDEFI tokens have been transferred to the $XDEFI Dutch auction.

The $XDEFI Dutch auction on MISO starts on Wednesday 17 November 2021 at 14:00 UTC. The auction ends after 24 hours or when all tokens are sold, whichever occurs first. When the auction ends, tokens from both the IDO crowd sale and the Dutch auction will be eligible to be claimed.

Note: In a MISO Dutch auction, the price is set at a higher value per token than expected and descends over time, with the eventual price being settled on once all tokens have been sold. Please refer to MISO’s explanation of Dutch auctions for more information.

Please review our other tutorials for more information:

  • How to Participate in the $XDEFI IDO on MISO: Currently you can participate in the Dutch Auction for the remaining tokens regardless of whitelist status. XDEFI Wallet is not liable for any users unable to participate in the IDO.
  • How to buy $ETH and $USDC in XDEFI Wallet: In order to participate in the crowd sale or Dutch auction, you’ll need enough $USDC to make your purchase, some $ETH to cover gas fees and an XDEFI Wallet address. If you do not have ETH/USDC, please review this tutorial.
  • Create XDEFI Wallet. Please review this tutorial if you do not have an XDEFI Wallet yet. In case you are unable to connect your XDEFI Wallet and have multiple browser wallets, please go into the XDEFI Wallet menu and select “Prioritise XDEFI.”

Please read on to learn how to participate in the $XDEFI Dutch Auction on MISO.

How to commit your $USDC

1. Visit the MISO Launchpad at https://miso.sushi.com/

2. Click the “CONNECT” button in the top right corner,

3. Select the option to connect your XDEFI Wallet to MISO.

4. Ensure that your XDEFI Wallet is connected to the Ethereum Mainnet by clicking in the top left corner of your wallet.

5. In the left navigation bar, select “Marketplace” then “Live Sales.”

6. In the Live Sales Page, select the “XDEFI Wallet Sale.”

7. After selecting the XDEFI Wallet Sale, information about the Dutch auction and a countdown timer will be displayed.

The example image above is subject to change.

8. In the “Commitment” section, there are two ways to set your bid. You can use the slider to determine the minimum $XDEFI you’d like to receive or type in a value for the maximum $USDC tokens you’d like to commit.

The auction price will range from $US4.00 — $US0.65 per $XDEFI token. The final auction price will be determined based on the cumulative bids from participants.

The example image above is subject to change.

9. Once you have decided how much you would like to commit, click the “APPROVE” button to bring up the transaction approval in your XDEFI Wallet. XDEFI Wallet will ask if you wish to allow MISO to spend and withdraw your USDC. Review the details carefully and confirm.

IMPORTANT: You need to APPROVE the transaction, then COMMIT your tokens.

10. After approving your transaction, you should see a pop-up on MISO saying your tokens have been sent with a link to Etherscan.

11. Once your XDEFI Wallet confirms that the transaction has been completed, you can then formally commit your tokens.

IMPORTANT: If you only approve your transaction but don’t commit the tokens, you will not have fully participated in the Dutch auction.

12. You have successfully participated in the $XDEFI Dutch auction! Come back when the auction ends to claim your tokens.

Note: Your tokens will be held securely by the auction contract until the auction ends. Please return when the auction ends on Thursday 18 November 2021 to claim your tokens.

How to claim your tokens

After the auction ends on or before Thursday 18 November 2021, it’s time to claim your tokens.

1. Return to the MISO launchpad: https://miso.sushi.com/

Note: It’s important to always go directly to the MISO site to avoid any phishing hyperlinks.

2. In the left navigation bar, select “Marketplace” then “Past Sales.”

3. In the Past Sales Page, select the XDEFI Wallet Sale.

4. You should see a screen indicating that “This auction has been finalised.” If you don’t see this image, please wait and return later.

5. After a successful auction, MISO will calculate your amount of tokens based on the final sale price. You can claim your tokens by clicking the “CLAIM” button.

6. Your XDEFI Wallet will pop up with a confirmation screen. Click to confirm.

7. You should see a pop-up on MISO saying your tokens have been sent with a link to Etherscan.

8. After they arrive in your wallet, MISO’s auction page should say “Congratulations! Your tokens have been claimed.”

9. Your tokens should automatically display in XDEFI Wallet. If you have trouble displaying your tokens, you may need to manually add them using the token address: 0x72b886d09c117654ab7da13a14d603001de0b777.

IMPORTANT: Please note all tokens for all sales and allocations will be sent once after the Dutch auction ends. No matter which forum you use to obtain tokens, there will be a respective delay until the auction has been completed before they are received.

In the case of an unsuccessful auction, MISO will return your committed $USDC minus any fees incurred. In the rare case that the auction is not finalised by the creator, MISO will let any auction participant finalise after 14 days and reclaim their $USDC.

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