How to participate in crowdloans on Polkadot or Kusama Print
Modified on: Fri, 27 May, 2022 at 6:56 PM
Below you will find the step-by-step instructions to participate in a crowdloan on Kusama. For more detailed background information and a video walk-through, please scroll down to the bottom of this page.
Please note that the process below is not ALL it takes to participate. Read this note carefully before you proceed:
IMPORTANT NOTE From a technical perspective, you can participate in any crowdloan on Kusama, without KYC and without any restrictions. However, each crowdloan has its own Terms & Conditions that may exclude certain participants. You need to carefully read and fully understand the specific terms & conditions governing the crowdloan you intend to participate in. They may require KYC or exclude participants from certain jurisdictions. If you are not eligible to participate in a crowdloan, you should NOT participate. Web 3.0 Technologies Foundation is not responsible in any way whatsoever for any terms and conditions of any crowdloan campaign
The technical process to contribute KSM tokens to a crowdloan on Kusama requires only a few clicks:
Go to Network ---> Parachains
Navigate to the Crowdloan tab and click on Contribute next to the parachain candidate you would like to support:
IMPORTANT NOTE: If after your contribution your balance drops below the existential deposit (ED) (which is 1 DOT on Polkadot), any remaining funds will be burned and lost forever! So, make sure that either your remaining balance after the contribution will be greater than the ED or that you contribute the full balance. In both cases you need to account for the transaction fees of about 0.02 DOT. So, in the first case make sure to leave at least 1.1 DOT (as a pillow) and in the second subtract 0.02 DOT from your contribution. The transaction fees may be higher if you're not contributing through the Polkadot-JS UI.
On the screen that pops up, select the account you'd like to contribute from, and enter the amount you want to participate with. Then click the Contribute button.
You will now be asked to sign and submit this transaction.
In this video tutorial, our tech lead Bill takes you through the process:
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Disclaimer: We always strive to provide you with the best support we can and we take all care to ensure that our instructions are accurate and concise. However, following these instructions properly, as well as the general management of your accounts and funds, is ultimately your responsibility. Web3 Foundation cannot be held liable for any accidental loss of funds or any other damage you might incur.