Basic Attention Token ICO - how to get in ASAP - UPDATED

4년 전

Update 5/29


The contract address, block number, and function signature have been released. I've updated this post to reflect these changes and some additional information. You can view them here

  • Address: 0x0D8775F648430679A709E98d2b0Cb6250d2887EF
  • Block: 3,798,640 - approximately 8:00am PDT on Wednesday, May 31
  • Signature: 0xb4427263
  • Exchange rate: 6,400 BAT per ETH

Please re-read though the Parity instructions to get all the important information.

Purpose


If you caught my recent steemit post, Getting in to ICOs - A Guide and Some Tips & Tricks, then a lot of this is going to be familiar already, but here I'm going to focus specifically on the Basic Attention Token (BAT) ICO token sale happening May 31st. If this is your first ICO, or you're just now starting to think about investing in BAT, please read this post. As always, do your own due diligence. I am not responsible for your decisions or actions.

Details about the ICO


From the BAT site:

  • Raising $24 million in ETH, which is about 133,333 ETH @ $180 per ETH
  • Cap of 1.5 billion BAT tokens
    • Tokens for sale: 1 billion
    • User Growth pool: 300 million
    • BAT developmement pool: 200 million
  • Exchange rate is 6400 BAT per ETH (it will be around 7500 BAT per ETH)
  • You will receive BAT as soon as you send ETH to the contract address and they can be traded immediately (see the bottom of this post for info on how to see your BAT balance on MEW)

Getting in ASAP


For this ICO, there is no early-bird discount or rewards for getting in quickly, so the main reason for wanting to set things up ahead of time is simply so that you can get in at all. The BAT ICO is pretty hot, and people are going to miss out.

The things you need:

  • ICO Contract address: 0x0D8775F648430679A709E98d2b0Cb6250d2887EF from here
  • Parity installed and synced / running during the start of the ICO
  • Amount of Ether for the investment and fees ready in a wallet linked to a Parity Account
  • Block number for when the ICO goes live: 3,798,640 from here
  • Function Signature: 0xb4427263 from here

I'll be using Parity's automatic sending option since the ICO will start on a specific block number, not an exact time. See this post for information on how to automatically broadcast a transaction at a specific block number.

Once you have everything you need, go to your Parity Account and begin a transfer.

  • Copy and paste the ICO address from https://basicattentiontoken.org/: 0x0D8775F648430679A709E98d2b0Cb6250d2887EF.
  • Enter the amount of Ether you want to invest and check "advanced sending options"
  • On the next page, select Send after Block Number and use the block number provided at https://basicattentiontoken.org/: 3,798,640. Something I've come across recently is that your transaction may not actually occur on the exact block you specify here since it depends on the miners. I recommend using 3,798,645 to be safe.
  • Enter the function signature, 0xb4427263, in the transaction data field.
  • Change the gas field to 200,000
  • Optional: The Ethereum network is likely to get more congested during big ICOs like this, and raising your gas price will help your transaction be mined quickly. I will be using 30,000,000,000 for my gas price.
  • Review the total transaction amount, and send.

I believe this method is likely the quickest way to send your Ether in to the ICO, but another option is to pre-sign a transaction and broadcast it yourself.

Seeing Your BAT on MEW


  • On MyEtherWallet, go to "Send Ether & Tokens" tab and click on "Add Custom Token."
  • Put the ICO address, 0x0D8775F648430679A709E98d2b0Cb6250d2887EF, in the "Token Symbol" field.
  • Put 18 in the "Decimals field and click "Save".

If you'd like to know more about how Gas works in Ethereum, check out this post.

Although I've linked it 5+ times now, this post is extremely important if you've never done an ICO before are want more info on how to do them.

Consider leaving a like or even resteem if you found this helpful! If you're really crazy, my MEW address is 0x5B13430b6D2E327DFCDB93D7430FC6e9a2E63E74. Please feel free to leave corrections and comments below

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Thank you. Really good information. Why are you using so high gas price? What is the minimum you recommend in order not to miss the ICO? 500,000 is not fine? How can I calculate this number? Thank you very much.

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Thanks @romangt87! The BAT crowdsale doc says that a minimum of 200,000 should be used for the gas limit. As for the gas price, etherscan has a good chart for the average price, and ~22 gwei, or 22,000,000,000 wei, has been steady for the last few months now. A minimum of 1,000,000,000 wei is needed for most nodes to even pick up your transaction, so 500,000 is way too low. Eth Gas Station shows how the gas price corresponds to transaction time, and there seems to be diminishing returns above 30 gwei. I anticipate momentary congestion in the network during the ICO though, so 30 gwei+ seems like a good idea if you really must get in. I'd say a minimum to use is 18 gwei, and anything 22 gwei+ is safe.

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Thank you great explanation. So more than 30gwai how much ETH fees correspond aprox? How much ETH I must have also for the fees for a 30gwai+ transaction? Thanks.

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30 gwei is the amount of wei you spend for each unit of gas. At 200,000 gas, you have 6 x 10^15 wei, which is 0.006 Ether, or about $1.10 in fees at $180 per Ether. Any gas that isn't spend on the transaction will be refunded to you automatically though. I recommend checking out this post I wrote about Ethereum Gas if you want more info on how it works and how to calculate it.

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one last question, when you introduce the "gas price" in myetherwallet, what are you exactly introducing? That amount is in gwei or in wei? So in order to participate in BAT sale safe I need to use 22gwei gas limit = 22.000.000.000 wei gas limit. Is this last amount (22.000.000.000) what I need to put in gas limit in myetherwallet? That would be less than 10usd transaction cost rigth? Thank you very much and sorry for so many question but it is a new concept and I want to understand it well :)

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MyEtherWallet has a slider in the bottom right of the site for gas price:

You can see that it is measured in Gwei, so in this picture you would pay 20 Gwei (20.000.000.000 wei) for every gas unit consumed in the transaction. The gas limit (200.000 for the BAT ICO) caps the amount of gas you allow the transaction to consume. If all 200.000 gas is used, you would pay 20 Gwei * 200.000 gas = 4 million Gwei, or .004 ether ($0.72 @ 180 per ETH).

If you use 30 Gwei for the 200.000 gas limit BAT ICO like me, it will be $1.08 in fees

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Thank you very much!

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  ·  4년 전

$10 Free worth of Eth tokens!! https://goo.gl/9uD4Tn Authorship ICO you will receive 75 ATS tokens! just need an Eth Wallet!

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  ·  4년 전

Hi Omar, I would like also your point of view on this new ICO when you'll have time to have a look: https://thesuperiorcoin.com

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I did look at superiorcoin's website for a quick minute though, and I became uninterested very quickly for a few reasons.

  1. It seems like it's just a privacy coin, doesn't offer something that isn't already being developed.

  2. "Superior Coins main emission curve will have issued about 1.5 billion coins to be mined in over 30+ years."

    In 30 years, cryptocurrencies will be entirely different from what we think of them today. In my opinion, this seems naive to plan something like this, especially for a simple financial coin.

  3. There was zero information I saw at a glance about any developers working on the project. This is always a red flag to me.

  4. Superior Coin features an opaque blockchain

    What.

Maybe I need to read into it more, but at a glance, I'm 100% not interested in investing or trading it.

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Hey stef, I think you have my confused with @Crypt0 :) I'm flattered though

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  ·  4년 전

Oh, sorry. Very good good review, as well as your view on superior coin :)

Do you think it's worth waiting until it actually hits the market? As I've noticed, most tokens spike immediately after release on the market and then plummet. Thoughts appreciated.

Cheers,
@clayford08

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ICOs have been a sort of get-rich-quick scheme lately, and it's very likely that the price will spike and plummet like you say. If you're investing for the long run, I'd put 75% into the ICO and then hold out to pick up some cheaper tokens after a dip. Still, I'd put most of my investment in upfront since there will be the greatest support at that amount. Personally, I'll be doing 100% at the ICO.

Argh, I had planned to do this using myetherwallet (As I didn't see this excellent article) but after trying for an hour different gas prices, etc, making sure everything is correct, I can't send from myetherwallet. I downloaded parity and can't even send from myetherwallet to parity.. Lame!

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Token sale ended in just half a minute. Hit the 33 million cap in just 2 blocks, only ~200 actually got in.

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I missed it to :s I send my eth from MEW to Parity like 3 hours before the ICO begins... still nothing received on my parity wallet...
anyone knows how long does this take normally? hope I did't lost it!

Which block number do we insert into parity? the bat website gives 2 block numbers :/

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my guess is 1001639 because its shown after you accept their terms and along with the other data is highlighted in orange...but if could be 3,798,640.

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I've just finished updating this post. The starting block number of 1001639 does not make any since to me since, especially since Parity's block number is much closer to the 3,798,640 mark. Please re-read the post as there is additional information about what block number to enter in Parity as well as the addition of the function signature.

For those of you using Parity to automatically schedule the transaction, you should probably use block number 3,798,641 or even 1 or 2 more. Using 3,798,640 could cause your transaction to fail since you need to be STRICTLY GREATER than this block number.

Super post. Does anyone know if the gas fee is included or extra? for example if I want to invest 1ETH in the ICO does it mean that the gas fee will be taken off or should I have extra in my ether wallet just in case? im doing it through parity as ill be on holidays at the time of ico

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IIRC, most applications will add the gas fee to the total transaction. I just checked with parity and started a transfer for .01 ether, the total after the gas fee was .01042 ether, so they are adding it to the transaction.

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Thank you. How much should i stock in my ether wallet do you think if I'm investing 1 ETH then? 1.05?
Any other ico in your mind we should look at? One gram? wagerr? tezos?

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Depends on what gas price you want to set. Check my response above to see a more detailed breakdown, 1.05 may be on the edge. Having a bit over .006 Ether is a good amount for anything less than 30 Gwei gas price.

Thanks for an excellent post @tomshwom!
One quick question on a warning I'm getting on Parity: "the transaction will throw an exception with the current values". Did you get that error when scheduling your transaction? Does it matter?
Address, data field and block number were entered for the transaction.
The same had been reported on the Reddit BATproject
Thanks in advance!

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That reddit post you linked describes what is likely the problem very well. The a transaction at the current block number will cause the contract to throw an exception. I don't think parity is smart enough to know that you're scheduling the transaction for a future block number when it checks this.

Great post and upvoted. One question. How would I see my BAT coins after it's been purchased through Parity? Do I need to add the contract?

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See the bottom of the post for how to view tokens on MEW

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Got it thanks. I was trying to view BAT using my Parity wallet which in MEW you just choose to view address only.

its about ~40 seconds per block. do you really think 3,798,645 is a good place to start? thats about 4 minutes after its open, give or take a few seconds and people are speculating it will be open for 5 minutes maybe less.

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I was under the impression that it was around 16 seconds per block from this site. My aim was for about 1 minute delay.

hey guys if anybody sees this comment please please answer - I did all this correctly I believe, and then clicked send, and then I clicked "close" on the transaction because I figured I was finished... do I need to redo it all now? or is it still sending and I just can't see it? ;(

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Did you put in the account password to confirm the transaction?

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yes I entered the password, and it seemed complete so I thought I could close (it was like confirming and I figured it wouldn't confirm until it actually happens), but now I'm not so sure that clicking close was OK... do you/other people normally click close? thanks for the very quick reply!

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There really isn't a "normally" on anything... it's all very new to everyone. You need Parity up and running during the launch of the ICO if you want it to know when to send the transaction.

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well basically when I view in "txqueueviewer", it says on the left resubmit, but on the right it says "in queue pending" ... I really don't know whether to click resubmit or not lol

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I'd transfer everything except what you're sending to a different wallet, then resubmit. Can't hurt you by double sending then

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I don't think that makes much sense, when I could cancel transaction now :) it should be fine, it's all under the "signer" page

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oooh when I look under the "signer" tab, the transaction is all there (has an edit and cancel option even), so I think I should be fine xD could have saved the trouble for you if I just clicked around like I was going mad

So how much are you guys buying? I'll be sure to pick up a few :-)

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I ended up skipping BAT. I don't have a terrible problem with the change of the ICO cap, but I do have concerns with the adoption of the Brave browser. Need to see more development before I lock away ETH into something that I don't think is likely to outpace Ethereum growth very soon.

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Hi tomshwom.. can you please edit the section - 'Seeing Your BAT on MEW'.. as in add the point add - 'BAT' symbol

How one can watch out for new ICO to come in future so to read about them and decide itgey re worth to share or not? Is there a website for that ?

The Tierion ICO raised $25MM, but there’s still speculation that it’s no different than the scam ICOs going on right now. Check out some strategies to make sure that you can maximise profit from an ICO, https://wikicrypto.com/maximise-profit-sell-tokens/ Hopefully investors aren’t losing their money just yet!

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Fuck off with your spam