Disclaimer: Participation in any SNS is at your own risk.
You can participate in the decentralization swap in the NNS frontend dapp, which requires ICP utility tokens. ICP tokens can be exchanged for SNS tokens during the decentralization swap. If you don’t have ICP, go to any of the exchanges listed on CoinMarketCap.
Follow these steps to participate in a decentralization swap:
1. Go to the NNS frontend dapp and click on the “Launchpad” in the sidebar to see all ongoing SNS decentralization swap.
2. Under Current Launches, select the SNS Swap you’re interested in.
3. Click on Participate.
4. Enter the amount of ICP you want to participate with or click Max, then click Continue.
Disclaimer: Participation in any SNS is at your own risk.
5. You will be prompted to review your participation. If you see the correct amount of ICP, select the checkbox and click Execute.
6. On the last screen, you should see the amount of ICP you entered for participation. You can repeat this process if you wish to contribute more.
After the swap ends and is successful, you receive SNS tokens. Note that this may take a few hours after the swap has concluded. The number of SNS tokens you receive, and the price paid for each token, depends on the amount of ICP raised during the swap as well as the amount of ICP spent. The more ICP raised, the fewer SNS tokens you receive.
If the set goals of the decentralization swap are not reached, participants will be refunded. The duration of a swap is configurable and thus, depends on the configuration of each individual SNS. A swap can only start after a 4 to 8-day NNS voting period (unless 51% majority is reached sooner) on the original proposal that initiates the launch the SNS.