Hello, beloved community🖤!
Since the announcement of IDO on Boca Chica, we’ve been getting a lot of questions. In this post, we’ve gathered answers to the most common ones to make your participation in IDO as comfortable and understandable as possible.
If I stake NEAR in my wallet, how does Boca Chica recognize it given that their wallet is Solana’s phantom wallet for the IDO? Don’t want to stake $500 worth of tokens unnecessarily.
Please use https://mars.bocachica.io/, this Boca Chica deployment works on NEAR blockchain.
When do I need to start stacking NEAR in order to participate in the IDO at BocaChica Sale?
You may want to do it one epoch (~12 hours) before the sale to be 100% sure that you have some NEAR staked. Due to the possible complexity of the staking process, it would be better to start in advance in order to have enough time for completing all necessary stages and not to lose your opportunity. Note that this is not financial advice.
We do recommend contacting BocaChica for more information on this.
How can I stake NEAR?
You can do the staking through CLI, NEAR wallet, and any front-end you are using.
What validator should I choose for staking to participate in BocaChica sale?
You may stake it to ANY validator. BocaChica sale is not limited to YouMinter validator staking.
If I stake more than 50 NEAR, will I automatically be eligible for a bigger check of $250?
No. You are free to buy any number of tokens depending on how many NEAR you staked. Your allocation at BocaChica IDO round does not depend on staking and can be chosen within the determined range of 5–25 NEAR.
How many NEAR do I need to buy YouMinter tokens?
5 to 25 NEAR. 1 NEAR = 10 USD. 1 UMINT = 1,5 USD. E.g. you want to buy 100 UMINT, hence you will need to spend 150 USD, i.e. 15 NEAR.
Will staking guarantee YouMinter tokens during the sale on BocaChica?
No. Staking is a prerequisite for the sale, but it does not mean that you will get tokens. You will need to spend additional NEAR if you want to buy tokens.
How will the sale be arranged on BocaChica? Can only whitelisted users buy tokens?
The purchase of tokens is available to everyone.
Can I unstake my tokens after the BocaChica sale?
Yes. But please note that the procedure of unstaking may take several days since it is a complicated process which involves several stages.
“The sale is open to the users who are staking at least 50 $NEAR. The size of the check for a single user ranges from $50 to $250.” What’s the criteria for this range?
This range eliminates the possibility of capturing all the tokens by a single person. Therefore, an upper limit is established. $50 is an appropriate stake for everyone, but they cannot exceed the $250 limit. Nevertheless, there is the possibility that one user can create multiple accounts, but it can be quite tough to game regarding the condition of 50 NEAR staked.
You would need to create accounts, get additional NEAR, do the staking, then after the sale unstake (which takes 48h). Absolutely nothing but heartache. Of course, you can do it using only 2–5 accounts, but you won’t run a bot for this.
To keep up with our news and updates and chat with the YouMinter team, join us on Telegram and Twitter! We’re already preparing a lot of great updates for you, so stay tuned.
