October 12, 2022
min read

Maiar Launchpad Guide: How To Participate In The AshSwap Public Sale

Every debut on the Maiar Launchpad is a highly anticipated event by the community, where tens of thousands of participants engage in supporting the innovative startups tapping into our strategic accelerator program.

These are also the periods when our ecosystem witnesses a great inflow of new users. They come for the opportunity and stay for the user experience.

This is a guide that will help you navigate through the AshSwap public sale.

Process overview

  • Perform KYC until October 21
  • On October 24 you will be able to buy lottery tickets proportional to your tier based on your staked EGLD
  • Each lottery ticket costs $50, paid in EGLD. The EGLD price will be set according to the EGLD/USD value before ticket purchasing begins
  • Winning tickets are randomly selected on October 25
  • Winning tickets allow their holder to claim 625 ASH & 625 LKASH tokens. Non-winning tickets allow their holder to claim back the EGLD spent on them.
  • On October 25, participants can claim the ASH & LKASH tokens proportionally to their winning tickets, and get back their EGLD for non-winning tickets.

12 - 21 October - Registration and KYC

The Maiar Launchpad requires you to log in using an Elrond wallet. You can do this using your Maiar App, Ledger device, Elrond Web Wallet or Maiar DeFi Wallet.

Once you log in, make sure to carefully read all the included material and the KYC guidelines, and then start the KYC procedure. KYC stands for “Know Your Customer” and is a mandatory process for the public sale to happen according to the applicable regulations.

Note: Participants willing to invest more than $1000 ( > 20 tickets) will be required to complete an Enhanced KYC process.

To increase chances of having a successful application please follow the KYC guidelines available below:

Register email & input KYC info
  • All the information you provide in this process goes directly to our trusted partner Onfido - a professional KYC/AML service provider
  • We recommend using a smartphone with a good camera
  • If your KYC is declined, depending on the reason why it was rejected you may receive up to 2 additional chances to reapply
  • Users who pass KYC are eligible to participate in the lottery
  • Users can change their participating wallet provided that they have a successful KYC and pass a video verification

24 October - Buying lottery tickets

On October 24 you will be presented with the option to buy as many tickets as your tier allows you to. You can buy all of them, none of them, or any number in between.

In this example, 16 tickets out of 64 maximum were selected for purchase.
  • When you buy the tickets, you deposit EGLD into the lottery smart contract, and unique ticket numbers are assigned to you
  • A lottery system is used to match the limited amount of ASH/LKASH tokens available for sale with the vast demand
  • A tiered system is in place, based on the amount of EGLD staked. More EGLD staked, more tickets available to buy
  • The tickets have to be bought with EGLD in your available balance. The tickets can’t be deducted from your staked EGLD amount - that is not possible

25 October - Lottery draw and winning tickets

On October 25, the lottery draw happens: the smart contract will randomly select the 56,000 winning tickets using the Fisher-Yates shuffling method. You will be able to see if you won immediately after that.

In this example, out of 8 tickets purchased, 1 is a winner

25 October - Claim ASH & LKASH tickets and reclaim EGLD

Once the draw is over you will be able to claim the ASH & LKASH tokens for your winning tickets. You will also be able to claim unspent EGLD, or otherwise said, EGLD you spend on non-winning tickets.

Click "Claim Tickets" to ask the launchpad smart contract to send you your ASH & LKASH tokens and/or remaining EGLD
  • You have to submit a transaction to claim your tokens. Once executed, your ASH & LKASH tokens and EGLD will be delivered to your wallet
  • You can see your new ASH & LKASH tokens using the Web Wallet, the Maiar DeFi Wallet, or the Elrond Explorer

We also have a dedicated Maiar Launchpad Telegram group where you can ask any other questions you might have:

Author Profile Picture
Dan Voicu
Published by
Author Profile Picture
Dan Voicu
Published on
October 12, 2022
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