Polkawallet: How to Contribute to Crowdloans Print
Modified on: Fri, 19 Apr, 2024 at 3:43 PM
In this article, we describe step-by-step how to contribute to crowdloans using Polkawallet. If you want to learn more about crowdloans you can check out our Crowdloans FAQ.
ℹ️ GOOD TO KNOW
If you have any questions about contributing to crowdloans with Polkawallet or run into any issues and require further assistance, feel free to ask our AI chatbot or contact us.
Alternatively, you can also search Polkawallet's documentation or contact their team directly through email, and receive specialized assistance from the team that developed the wallet.‼️ IMPORTANT
With the introduction of Coretime to Kusama, crowdloans and slot auctions are deprecated on Kusama. Once Coretime comes to Polkadot, they will be deprecated there too, and we will unpublish this article.
How to contribute to a crowdloan
⚠️ ATTENTION
Once you contribute to a crowdloan you cannot renege on your contribution.
Your contribution will be returned to your account either once the crowdloan is completed, if the parachain didn't secure a slot, or once the lease of the parachain slot ends, if they won an auction.
The refund is initiated by the parachain team and you don't need to take any actions.To contribute to a crowdloan, follow these steps:
1. First, select the account you want to contribute with.
2. Tap on the "Metahub" button
3. On the screen that opens up, scroll the bar on top to the right and select "Parachains". Then tap "Enter".
4. At the top, you can see your existing contributions, as well as details of the current lease period. Under "Crowdloans" you can see the currently ongoing crowdloans, as well as previously completed crowdloans.
If you tap "Auction", you can see the details of the currently ongoing auction, if there is one.
5. To contribute to a crowdloan, tap the "Contribute" button in the card of the crowdloan that interests you. In this example, we are contributing to the Integritee crowdloan.
6. On the next page, enter the amount you want to contribute and tap "Contribute".
‼️ IMPORTANT
The minimum contribution is 5 DOT on Polkadot and 1 KSM on Kusama. If you enter a smaller amount the extrinsic will fail.
Also, after the contribution and the transaction fees, your balance should be at least equal to the Existential Deposit, otherwise the extrinsic will fail.
7. On the next page, review the details of the transaction and tap "Submit". That's it! You've contributed to a crowdloan!
You will be taken back to the crowdloans page, where you can see your total contributions at the top (just the one in our example) and your contribution to the crowdloan in its card under the "Contribute" button.
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