Step By Step Instructions for participating in the Boson Protocol Community Distribution via Gnosis Auction
- First, you need to connect your wallet to the platform. On the top right corner, you can find the button that will allow you to connect your wallet to the Gnosis Auction dapp.
- A popup will appear where you will be prompted a list of available wallets that you can connect to the dapp. Select the wallet type you would like to connect to the Gnosis Auction dapp.
- After selecting the wallet, in this case Metamask, a Connect Request will appear. In the case of Metamask, you would need to pick what account (Address) you would like to connect with, and click “Next”.
- Once you have selected the account you want to use, click “Connect”.
- After all these steps, you have now successfully connected to the Gnosis Auction dapp. From the UI you will be able to differentiate between two sections. The top section of the UI shows the highlighted Auctions that are taking place, while the bottom section of the UI will show us the full list of Auctions that are taking place or have taken place in the platform.
- If you want to participate in an auction, either select one auction from the highlighted auctions section or select one auction from the dropdown list. In this case, you have selected an auction from the highlighted auction section.
- After you have decided the auction you want to participate in, and click on it, you are redirected to the screen below (Keep in mind that the data shown in the below picture will vary for each auction, as all the auctions taking place are independent of each other). The UI can be dissected in two parts, the left side and the right side.
- In the amount section you would need to input the amount of bidding tokens you are willing to bid in the auction. You can either select the amount you want to bid or directly use the max button to bid all the tokens you have.
- In the price per bid-token/auction token, the dapp sets by default the price that the auctioneers have set to be the minimum price. From that starting price, you can decide what is the price per bid-token/auction token you are willing to offer.
- If it is the first time that you have used that token to bid, you will have to approve the contract to spend that token. First click on the “Approve” button, and then confirm the transaction on Metamask, as shown below.
- After you have set both the amount of tokens to bid, and the price per bid-token/auction token, you no longer see the enter amount section, instead you see a colored bar with the words “Place Order”. Once you are sure about the parameters you have inputted you have to click on “place order” to include your bid in the auction.
- Once you have clicked on “Place Order”, a confirmation popup will appear that will ask you to confirm the order. As you can see in the image below, the dapp confirmation shows the relevant information of your bid order.
- After you have clicked on “Confirm Order”, your wallet will trigger a popup for confirming the transaction. In this case, the Metamask popup will appear asking you to confirm the execution of the transaction from your wallet interface.
- Once the Metamask order has been confirmed, and the transaction has been mined into a block, on the right hand side of the dapp you will see a banner with the price details of your bidding order, and a link to Etherscan so that you can check your transaction details.
Congratulations, you have now learned how to successfully participate as a bidder in a Gnosis Auction.
You can read more about Gnosis Auctions here.