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Buying Tokens

caution

Coin Machine is moving to a stand alone product and is therefore no longer being included in the Colony DApp. The documentation for Coin Machine will also be moved to it's own Gitbook as required.

To enter Coin Machine, navigate to "Buy Tokens" in the sidebar on the left-hand side of the screen.

The "Buy Tokens" Dashboard

You will see the main interface of Coin Machine which is a dashboard with three sections.

  • The upper left-hand corner refers to the current batch, i.e. details on remaining tokens currently on sale, the time remaining as well as the form to buy tokens from the current batch.
  • The lower left-hand corner shows the history of previous batches, including time and date of the sale, amounts of tokens sold, and the price of the corresponding batch.
  • The right-hand side shows any comments from the current and previous token sale batches.

If you see a message "Coin Machine is empty.", then there is not currently any sale ongoing.

How to Prepare for a Token Sale

To prepare for buying tokens at an upcoming or ongoing token sale, make sure that you meet the conditions that have been defined for that sale. You may be required to sign an agreement, undergo KYC, both, or none of the above. To check, navigate to "Buy Tokens".

  • If you see a button "Get whitelisted", you will need to do so by following these instructions before you can take part in the token sale.
  • If you see "Your account is whitelisted. 😎", you are good to go.
  • If you see neither, the token sale does not involve a whitelist or the whitelist has not been set up yet. To make sure, ask people familiar with that colony whether that token sale will require whitelisting or come back to the "Buy Tokens" page at a later time but well in advance before the token sale starts.

How to Take Part in a Token Sale

To buy tokens during an ongoing sale, follow these steps:

1. In the upper left-hand "Buy" box, replace the 0 with the desired amount of tokens

2. Click on "Buy" and confirm in your wallet.

  • If the next screen show "Success! 🎉", you have successfully bought the specified amount of tokens.
  • If the next screen shows "Partial Success...", you have bought some, but not the whole amount of tokens you specified.
  • If the next screen shows "You didn't get any X this time" (with X representing the respective token of that colony's token sale), you did not buy any tokens at this time. Unless that was the very last sale, you will see a countdown to the next sale below where you can try again.
note

To use tokens you just bought in the colony, you need to activate them first.