Guide to the SatoshiSwap presale on January 20th 6pm UTC
Welcome to the beginning! 🚀
As many of our dear supporters will be keenly aware of, SatoshiStreetBets is holding it’s long awaited presale in the next couple of days and this is our humble guide to navigate you through the process as gently as possible! You can also email support@SatoshiSwap.net who will do their best to answer your query as quickly and efficiently as possible! We will assume in this guide you are familiar with SatoshiStreetBets and our 2 tokens which we will be offering in our presale. If not, please read SatsohiSwap.net to for more information!
For a quick, brief overview of how Copper Launch works (the platform hosting our presale), check out this video on youtube and also this video. This is a pretty standard Copper Launch we will be running, so any videos you see on YouTube should usually apply to us.
Kindly note this presale is not open to US residents or US citizens and is the main reason why we’ve had to introduce a whitelisting program. The SEC have written very detailed advice on which presale projects they regard as requiring a securities registration and have specifically stated that even projects which try to position themselves as “utility tokens” still very often fall under their jurisdiction. The full list of barred countries is on our main website.
Let’s start with the essentials, before going into more detail -
Presale start date and time: January 20th 6pm UTC
Presale website: presale.SatoshiSwap.net
Platform: CopperLaunch.com
Whitelist application website: whitelist.SatoshiSwap.net
What you need: Compatible wallet (ideally MetaMask) with USDC and ETH
Project website: SatoshiSwap.net
And the token parameters -
SatoshiSwap supply:1,000,000,000,000 Total Supply (decreased by a factor of 1000 from original announcement). Approx 50% of the tokens outside of the presale allocation will be locked for several months. A portion of presale tokens left over will be burned.
SatoshiSwap estimated presale starting price: $0.00037
SatoshiSwap injected liquidity: $1.5M
Meme Token supply:1,000,000,000,000 Total Supply (decreased by a factor of 1000 from original announcement). Approx 20% of the tokens outside of the presale allocation will be locked for several months. A portion of presale tokens left over will be burned.
Meme Token estimated presale starting price: $0.00009
Meme Token injected liquidity: $1.0M
These are the steps to taking part in our presale:
- Get whitelisted. Everyone who wants to take part in the presale must pass our whitelist application process which includes KYC verification from our partner Fractal.ID whom are licensed, regulated and bound by strict data protection laws. You can go through this process on whitelist.SatoshiSwap.net. If you try to buy in the presale with an address which has not been whitelisted, the transaction will fail!
- Fund your wallet. In step 1 you will have chosen a whitelisted address on the Ethereum network on a wallet you own, for example Metamask. This cannot be an exchange wallet, it will fail if you do this and we cannot issue you a refund. The wallet requires USDC in it to buy the presale tokens and ETH to pay for any gas fees. The first part of this YouTube video will explain how to fund your MetaMask wallet
- Visit our presale entrance page. Our presale entrance page is now live: presale.SatoshiSwap.net. This will, as the name suggests, serve as the entrance into the presale on January 20th. On the front page of the entrance you will see 2 presale buttons:
which will serve as the entry points into the Copper Launch auctions. Our presale consists of 2 Copper Launch auctions running simultaneously, giving you the freedom to decide how much of each token you wish to buy. 1 Copper Launch auction is for SatoshiSwap and 1 Copper launch is for our meme token. These will go live on January 20th 6pm UTC. The auction links for the presale have not been scheduled yet but will be published on the 19th of January. However you will not be able to buy until the designated start date and time.
4. Take part in the presale. Once the presale has started, you will have 48 hours to buy your presale tokens.
a) On presale.SatoshiSwap.net click on the Enter Presale button for the token you want to buy and you will be taken to the auction page on CopperLaunch
b) Connect your wallet, using the blue button labelled “Connect Wallet” in the top right hand corner of CopperLaunch, as shown in the screenshot below. Currently, Copper Launch supports Metamask and Gnosis Safe. TrustWallet is no longer an option and has recently been withdrawn from Copper Launch. You still have time to whitelist a Metamask address before the presale begins on the whitelist dashboard. Alternatively you can follow these instructions to import a TrustWallet account to Metamask.
c) Make sure you’re connected to your whitelisted wallet address which contains the USDC you will buy with and some ETH to cover the gas fees (USDC must be on the ETH network). An address can be whitelisted on whitelist.SatoshiSwap.net but must be done before the presale begins (unless you are applied to be whitelisted after the presale starts in which case we will allow you to do it).
d) Using SatoshiSwap as an example, select currency as USDC. Enter the amount you would like to spend of USDC and then click “approve USDC usage”
e) Metamask will give you the option to approve which you should.
f) Once that successfully goes through, simply click Buy and approve the confirmation from Metamask that appears.
And that’s it! After the presale ends all auction tokens are paused and you will be airdropped your meme tokens on Jan 29th and your SatoshiSwap tokens on February 7th.
In closing thoughts, please remember the price of tokens in our presale vary and you should buy when you feel the price reflects the best value (it may rise or fall during the 48 hours). You can read more about this mechanism on CopperLaunch.com!
Thank you for your support and welcome to the SatoshiStreetbets family!
FREQUENTLY ASKED QUESTIONS
How do I check my whitelist status?
Sign into whitelist.SatoshiSwap.net and navigate to https://whitelist.satoshiswap.net/whitelist-status
Will the listing price of these tokens be higher than the presale price?
It will be higher than the average presale price over the 48 hours period of our presale. We can’t guarantee it will be higher than any presale price otherwise it could be gamed.
What wallets can I use in the presale?
We recommend Metamask. You CANNOT use an exchange wallet — we won’t be able to issue you a refund if you do this. You must use a wallet to which you own the private keys and which is compatible with CopperLaunch. TrustWallet is no longer an option. It used to be available and has recently been removed by the Copper Team. If you whitelisted a Trust Wallet address you will be able to change it to a different address on the whitelist dashboard if you do it before the presale starts. Alternatively you can follow these instructions to import your whitelisted Trust Wallet address into Metamask: https://adaascapital.com/how-to-import-trust-wallet-to-metamask/
How much Ethereum will I need to pay for gas fees in the presale?
We’re unable to predict this due to the fees largely being dependent on the level of congestion in the Ethereum network, which is unknown ahead of time. If you purchase with Metamask during the presale, it will give you an estimate of the gas fee before you buy.
What exactly do I need to be able to buy the presale tokens?
USDC and Ethereum. The USDC must be on the Ethereum network. The USDC is what you will use to buy the presale tokens with and the Ethereum is used to pay for the gas fees.
I only have one whitelisted address, don’t I need 2?
No, the same address is supposed to store both your USDC and your ETH.
What address do I put to be whitelisted?
The receive address which will be holding your USDC and ETH that you’ll use in the presale.
How will I receive my SatoshiSwap tokens when the only option for the whitelisted address is an Ethereum address? Isn’t SatoshiSwap on Binance Smart Chain?
We will be airdropping the presale tokens to purchasers. After the presale ends, all auction tokens are paused. On January 29th we will air drop the meme tokens on the ETH chain to everyone’s whitelisted ETH address. On February 7th we will air drop the SatoshiSwap tokens on the BSC chain to the address you whitelisted — note an address on ETH is also and address on BSC and the same private keys are used to access them. All you need to do is switch the network in your wallet provider (e.g. Metamask) from Ethereum to Binance Smart Chain. In a nutshell, you don’t have to do anything and the presale tokens you buy will be sent to you on your behalf. We’ll provide further instructions and support to anyone who needs it at that time.
Why is the presale being held on the Ethereum network when SatoshiSwap is on Binance Smart Chain?
CopperLaunch is only on the Ethereum network and is our preferred presale format due to it’s proven ability to distribute tokens fairer than other IDO methods we’ve researched.
Why is the market cap so high? Is it simply calculated by multiplying price by the total supply?
By design, Copper Launch presale auctions are set with a high price to discourage bots from scooping up all the tokens at once. Over time the price is designed to trend downwards, but trending up everytime there are buys. The end result is, an average price over the 48 hour period the market feels represents the true value of the token offering. In reality, anything can happen. There have been popular Copper Launch presales where the price has consistently risen during the entire 48 hours period. And there have been Copper Launch presales where the price has consistently fallen during the 48 hour period. It’s entirely dependent on buying demand.
The market cap is indeed calculated that way, except you should note that 50% of the remaining allocation of SatoshiSwap tokens will be locked up for several months meaning they should be discarded from the calculation. In addition we will likely be burning a portion of left over tokens unsold in the presale. So in short, the market cap is somewhat lower than a naive calculation of simply multiplying the two numbers together.
How do I get the 10% bonus?
If you’ve followed the objectives in this tweet, then you will be airdropped the 10% bonus to your whitelisted address.
When does the whitelist close?
Whitelisting will remain open until about 2 hours before the presale is due to end. You’ll know when it’s closed because the registration page will disappear. Note — we can’t guarantee you will be whitelisted in time if you whitelist on the final day, but there is a high probability you will be if you meet the whitelist criteria.
Website: SatoshiSwap.net
Twitter: SatoshiStBets
Reddit: r/SatoshiStreetBets
Discord: discord.gg/SatoshiStreetBets
Telegram: SatoshiStreetBetsOriginal
