Malt Launch — 5pm UTC

0xScotch

Published in

Malt Protocol

3 min readJun 9, 2021

Launch. Is. Here.

We are unbelievably excited for our launch at 5PM UTC today!

The launch will be occurring on the Polygon (Matic) chain at this time. But stay tuned as additional launches are impending on different chains.

We have spent the last two weeks walking future participants through every element of Malt (see previous medium articles).

Here, we are going through the step-by-step guide on how to participate and prepare for the launch.

The Chain

After much discussion and voting in the community, we will be launching on the Polygon chain. We believe this offers the best combination of cheap transactions with high access to capital.

This means you need to be sure to add and/or use a Matic Network wallet on MetaMask (or whatever wallet app you are using). You can see custom instructions on adding this chain here

The Liquidity Pool

We are using DAI and Malt on the Polygon (Matic) chain as our liquidity pool.

To participate and prepare for launch, you will need to purchase some DAI on the Polygon chain. There are various ways you can do this, and we have put together some helpful step by step guides on some methods. Check them out here!.

Once you have your desired amount of DAI, you have done all the prep to participate upon launch.

When launch occurs at 5PM UTC, you will need to swap half of your DAI for Malt on this Quickswap link, and select DAI then click swap.

Alternatively you can:

Select DAI in the “From” field
Click “Select a token” in the bottom “To” field
Paste the Malt token address in the search field — 0x1c40ac03aacaf5f85808674e526e9c26309db92f
Fill in half the DAI amount and click Swap

Providing Liquidity

Once you have half Malt and half DAI, you are ready to provide liquidity.

The first step is to go back to Quickswap in order to create DAI-MALT LP tokens.

Follow this link to the correct LP pair.

Fill in the DAI amount, and the Malt amount will be set automatically.
Click Approve DAI, then Confirm in your Metamask
Click Approve MALT, then Confirm in your Metamask
Click Supply, then Confirm Supply

Congratulations! You have LP tokens!

Once you have your LP tokens, you need to bond them to the protocol to receive rewards. Visit https://malt.money/ and Launch App, and finally connect your wallet.

If you are on mobile, you will need to visit Malt’s website from the MetaMask wallet app. As long as you have the correct chain and wallet selected on Metamask, Malt’s website will automatically detect your LP tokens.

From here, visit Malt’s “Liquidity” tab and “Bond” your desired amount of LP tokens.

Auction Participation

Participating in auctions is also simple.

Participation occurs in the “Auction” tab.
Once the auction begins due to TWAP < .99, the arb token price will linearly decrease from $1 to some minimum price (dynamically set by the protocol) over 30 minutes. Check out our previous article for a more in-depth explanation of how the auction works here.
The protocol will calculate the number of arb tokens available, and this will be clearly displayed on the website.
Any participant can commit DAI to the auction across the 30 minute auction or until all arb tokens are bought up.
The price all auction participants pay is the ending price of the auction, whether that be the minimum set price (if auction takes the whole 30 minutes) or a higher price due to all arb tokens being purchased prior to end of auction.
Arb tokens are redeemed for DAI 1:1 with expansion rewards. This means there will be a delay from end of auction to reward redemption

For more information, check out our docs.

Let’s raise a glass to Malt’s launch today at 5PM UTC!

See you there :)

The Malt Team