Welcome to the Maha Community! Below are instructions on how to buy and stake Maha to be eligible for to invest in Scallop on the 27th. Because you are new, I want you to know that every transaction you want to make will cost gas fees. Depending on the time of day and the complexity of the transaction gas fees can range from $10 - $100 per transaction. So here are the steps:
- Go to Uniswap. This is a decentralized Exchange on Ethereum.
- You are going to swap ETH for Maha. If you are in the US, you can purchase ETH on Metamask with a debt card.
- To find the correct Maha token paste 0xb4d930279552397bba2ee473229f89ec245bc365 into the area where it says select a token. This is MahaDAO’s smart contract address. You can verify this by going to the coinmarketcap website.
- Now click swap. You should have received x amount of Maha. You will also need to purchase Matic tokens in order to pay for transaction fees on the matic network.
- Now you will have to add the Polygon (Matic) Network to your metamask wallet. Follow the directions in this article Setting up Metamask for Polygon (Matic Network) | by Stakingbits | Stakingbits | Medium .
- Next you have to use a bridge to send your Maha from the ETH network to the Polygon network. Go to Polygon Web Wallet v2
- Make sure your Metamask is on the Polygon (Matic) network. Now pick Maha and put how much Maha you want to send to polygon. Now press transfer. Keep in mind that you will have to pay two transaction fees so make sure you have enough ETH to cover them. Furthermore, transferring from ETH to Polygon takes about 7-8 min.
- Repeat the same process for Matic.
- Now go to MahaDao Governance Page and click “open governance”.
- Now click “lock Maha” and pick the amount of time you wish to lock Maha for.
- After you lock your Maha you are done! To ensure that you are eligible for the Scallop IBO you need to lock at least 300 MahaX and complete the KYC. If you do not lock at least 300 MahaX you will still be able to participate in the IBO; however, it will be first come first serve (FCFS) and you still must complete the KYC. Below is a brief description on Maha to MahaX conversion rates and a link to a medium article with more details about the IBO
Maha to MahaX lock conversion rates;
Assuming 1000 MAHA is vote-locked:
1000 4 years
250 1 year
127.4 6 month
63.7 3 month
21.23 1 month
4.79 1 week
I hope this helps, but I was trying to keep this as short and understandable as possible. Also, I couldn’t put all the links because new users are limited to only 2 links. Please feel free to reach out if you have any further questions! Once again, welcome to the community!