DOT Parachain Auction Rewards
Tutorials for Polkadot Parachain Auction Rewards related to Acala and Parallel Finance
Walkthrough #1: Acala (scroll down for Parallel Finance tutorial)
This walkthrough includes instructions to help find and claim rewards earned through direct contributions to Acala’s Polkadot Parachain Auction, as well as reclaiming the DOT tokens that were used to fund the crowdloan. .
To complete the claim process, you will need the seed phrase for the wallet that you used to participate in the crowdloan funding process. The original wallet that we used to contribute (Polkadot.js) does not seem to work with the Acala platform, so we will be importing the original wallet/account into a new wallet to interact with Acala.
First, navigate to Acala’s website where we will enter the Acala application by clicking on the link that says “Use The App”.
When we enter the Acala application, the platform will attempt to automatically connect to any Polkadot-native wallet that you have installed. Because we will be importing our existing account into a new Talisman wallet, we recommend disabling any application (like Polkadot.js) that may be auto-connecting to the platform so that it does not interfere with the new wallet. Once you have the Connect Wallet screen pulled up (as shown below), click on the Talisman wallet to install the application into your browser. If you are using the Chrome browser, this link will bring you directly to the Google Store to download the Talisman App. Otherwise, navigate the prompts to download and install the extension in your browser of choice.
Once the extension is downloaded and installed, the Talisman website should open automatically to begin setting up your wallet. Click the “Get Started” link on this page to initiate the setup process.
The setup process will start by asking you to set a password for the application.
Followed by a page to accept a privacy agreement, then another where you have the option to create or import an account. We will choose “Import”, then “Import via Recovery Phrase”.
Select Polkadot when asked to choose the account type. This will bring up the option to name your account, enter the seed phrase, and import the account.
If you used a unique name for your original wallet (i.e. “Acala Wallet” rather than “Account #1”) we recommend using the same name as the one that you used initially, largely to help identify the same account across multiple wallet applications. This is not required though, as this account name will not affect any names associated with the same account in different wallet applications.
Once you have filled in the necessary fields, the Import button will activate and you can press this to move on to the next step.
Once you have imported your wallet, the Talisman application will update to show you the various asset balances in the wallet. Once you see this page (shown below), you have successfully set up your wallet and can close the Talisman application before returning to Acala.
Now that our wallet is ready, we will return to Acala and connect to the Acala application. Because we have the Talisman wallet installed, Acala should attempt to connect automatically, though a page refresh may be necessary. When the Talisman prompt appears, click on the wallet that you have imported and then click “Connect 1”
Once connected, Acala may prompt you to update your wallet’s metadata. Select Update and authorize the update in your Talisman wallet popup. Once complete, we can move on to the next step and begin navigating the claim process.
Now that we are set up and connected, we will start on the Portfolio tab by clicking the second option on the left menu, which will display the name that you gave your wallet during the import process. Once this loads, you will see all the balances for assets in your connected wallet, along with various options for each asset.
On the portfolio page, we will start by claiming our vested ACA tokens by pressing the “Details/Claim” button next to our ACA balance.
Once selected, a window will appear with your available vested balance and a button to claim the ACA tokens. Click “Claim” and then approve the transaction via Talisman.
After the ACA claim processes, your balance should update on your portfolio. We can now reclaim the DOT tokens that were originally contributed to the project’s auction campaign. To do this, click on “Stake/Redeem” on the right side of your lcDOT balance, which will open another tab to bring you to Acala’s Euphrates platform.
Within the Euphrates platform, we will have to reconnect our wallet by clicking on the Connect Wallet button at the top-right of the website. This will bring up a connection menu that only has Metamask as an option, but we will be using Talisman for the remaining steps. As such, if you have a Metamask extension in the browser that you’re using, we recommend temporarily disabling the extension to allow Talisman to connect.
Although there is not an option to connect via Talisman, selecting Metamask on the menu will open the Talisman application (as long as Metamask is disabled).
Because Euphrates is a cross-chain platform, it requires an account that has tied a Polkadot wallet to an Ethereum wallet, which is also called a “Unified Account”. Because of this, we will be setting up an Ethereum account within Talisman that is tied to the seed phrase of your Polkadot account. To initiate this process, choose Yes on the popup to set up a new wallet. This will open Talisman in a new tab to continue.
When the Talisman page opens, select “New Ethereum Account”, select a name for the new address (you can use the same name as the Polkadot address, but we called our wallets “Acala Demo Wallet” and “Acala Demo ETH Wallet”), and click Create. Once complete, we can close the Talisman tab and return to Euphrates.
Back on the Euphrates platform, we will refresh the website and reinitiate the connection to our Talisman wallet by clicking on the Metamask option. This will open a popup that asks you to select the wallet you want to connect. Click on the wallet and then click “Connect 1” to log in to the platform.
Once your new ETH address is connected on Talisman, continue through the process by clicking on “Talisman” on Step 2 of the connection.
You will then be asked to connect again through the Talisman app, but this time, both the Polkadot and Ethereum accounts will appear. Select both and click “Connect 2”.
Select “Bind” then approve two transactions in your wallet to finalize the unification of the two wallets.
With the wallets bound together as a Unified Account, we can continue on to withdrawing the DOT tokens from the LCDOT pool.
Now that we have our unified account set up and are connected to Euphrates, we will follow this link to access the page to convert Acala’s LCDOT back to native DOT. On this page, you will enter the amount of LCDOT you wish to convert then click “Withdraw” to initiate the transaction.
When the Talisman wallet pops up, select “Approve” to complete the transaction. This may take 10-20 seconds or more, but the confirmation will appear once the transaction has been processed.
Once this transaction is complete, you can close Euphrates and return to Acala to check your account balance or perform any additional transactions as desired. At this point, you should now have your native DOT tokens in addition to your fully vested allocation of ACA tokens.
Walkthrough #2: Parallel Finance
This walkthrough includes instructions to help find and claim rewards from Polkadot parachain auctions facilitated by Parallel Finance, as well as the process to reclaim the DOT tokens that you committed to the parachain crowdloans through Parallel Finance.
To complete the claim process, you will need the seed phrase for the wallet that you used to participate in the crowdloan funding process. Unfortunately, the Parallel finance platform does not seem to support the Polkadot.js wallet that many used in the initial funding process, so we will be importing the original account/wallet into a new wallet application.
Once you have your seed phrase, navigate to Parallel Finance and click “Launch Super App” below the main page logo (shown below).
When you enter the application, it may prompt you to connect your MetaMask wallet extension if you have it installed in the browser that you’re using. You do not need to connect your wallet at this step and can reject the connection request from Metamask.
In some cases, the page will not load and you may need to temporarily disable the metamask extension. You can do this by selecting the dotted icon to access settings and selecting “Manage Extensions” in the menu shown below.
On this page, you will see all of your installed extensions, each with a toggle to activate/deactivate the extension. The picture below shows that Google Docs and MetaMask have been disabled while the Polkadot.js remains on. You can disable all extensions at this time since we will need to import our Polkadot.js seed phrase into the Parallel Wallet extension to interact with the Parallel claim portal.
Returning to Parallel, the link on the main website will initially bring us to the Ethereum-based application. To access the Polkadot-based application and the crowdloan reward claim portal, we will select the “Parallel” option on the drop down menu (labeled “ParaSpace”), shown in the picture below.
Once selected, you will see the main Polkadot application where you will connect your Polkadot-native wallet by pressing the “Connect Wallet” button.
If you have the Polkadot.js wallet extension installed and active, the wallet will attempt to connect when you open this page. Because the Polkadot.js wallet does not seem to connect correctly to the platform, we recommend disabling this application (covered above), downloading the Parallel Wallet (covered below), and importing your existing seed phrase to the new application (covered below).
Before we continue through these instructions, please read the following tips and refer back to this section if you become stuck on any of the following steps.
Troubleshooting Tips: While preparing this guide, we found that the Parallel Wallet does not connect to the Parallel platform when the Polkadot.js extension is enabled, but transaction confirmations from the Parallel wallet will not pop up when the Polkadot.js extension is disabled. As such, you may need to toggle the Polkadot.js extension on and off via the extension settings to complete a handful of the steps in this process, even though we will not be interacting with the Polkadot.js wallet otherwise.
Furthermore, the Parallel platform often becomes stuck after initiating a transaction, but a browser page refresh seemed to solve this issue, allowing us to initiate the transaction again after refreshing. If the Parallel wallet does not pop up for confirmation within a few seconds of clicking a button on the platform, we recommend refreshing the page and reconnecting your wallet. In this case, the first transaction will be canceled and you can attempt the same step again.
Moving on, once you have the Polkadot.js extension disabled, you will see the options below. Select “Install” on the Parallel Wallet to add the extension to your internet browser.
Following the Install link, click “Add to Chrome” to download and install the extension.
Once installed, you should see the application in your extension menu, which you can access by clicking the puzzle piece icon at the end of your URL bar. You may also choose to click the thumbtack logo to pin the extension for easier access.
Now we can navigate back to Parallel and refresh the page. Upon refresh, your new Parallel wallet should pop up automatically to prompt the setup process. If it does not appear when you refresh, try to click “Connect Wallet” again and choose the Parallel Wallet option. Once the wallet is recognized by the platform, you should see the initial setup page. Continue by pressing “Get Started”, shown below.
You will first be asked to set a password for the wallet. Once you enter your password and click the box to accept terms & conditions, you will see three options (shown below). We will be importing our Polkadot seed phrase into this application, so we will choose “Use Existing Wallet”.
On the next page, you will be prompted to enter your Secret (Seed) Phrase. Enter the twelve words and click “Import Wallet” (not shown in picture below) at the bottom of the prompts.
Once the wallet is imported, you will be prompted to confirm the connection to Parallel. Select Confirm to continue.
Now that we are connected to the application, we will see our wallet balances on the main page. The picture below shows that the connected wallet has 0.2067 DOT on the Relaychain (Polkadot Mainnet) as well as 8 DOT and 19.72 PARA tokens on the Parallel Chain.
In addition to the Parallel Balance, you may have some DOT that has been automatically added to the native lending pool, which you can find in the Money Market platform. If you want to withdraw all Parallel-native DOT back to your wallet, we recommend reclaiming the Money Market deposit back to your Parallel Balance before withdrawing the DOT back to the Relaychain.
Select this button shown above to navigate to the Money Market page where we can remove our DOT from the lending pool and deposit it back into our Parallel balance.
Next, you will select “Withdraw” to reclaim your pooled DOT.
Choose the desired amount and click “Withdraw” on the popup window then confirm the transaction on the popup from the Parallel wallet extension.
After the transaction processes, you will see the updated DOT balance on the same page.
Next, we will claim any PARA tokens earned through the lending protocol by clicking the “Claim” button near the top of the refreshed page.
Another popup will appear to confirm the PARA claim, which you will then authorize with your Parallel wallet popup.
After the transaction is complete, the PARA balance will also update and you can return to the home page. You can find this by clicking “Apps” at the top and selecting “Overview” in the dropdown menu.
Returning to the homepage, we can now claim our DOT back from Parallel (the balance you initially contributed to the crowdloans) and claim the PARA rewards that were earned from participating in crowdloans through the Parallel platform. If you participated in multiple crowdloans, you will see multiple claim options, though the process to claim each will be the same.
We will start with the DOT claim by selecting “Withdraw” next to our Parallel DOT balance. For context, this is denoted as a withdraw because we will be removing our DOT from the Parallel network to the DOT network.
You will be prompted to choose the amount of DOT that you want to withdraw (the picture below shows the max balance being withdrawn) as well as a disclaimer that this process will not work with a Ledger device. Lastly, the PARA transaction fee estimate is shown at the bottom. Select “Confirm” to initiate the transaction, then confirm it again with the wallet prompt.
After the transaction completes, you will see your DOT in the Relaychain Balance.
Next, we will claim the PARA rewards. Even if you did not participate in the Parallel crowdloan, you should have been granted a small PARA balance to allow for transaction fee payments within the platform. As such, all users should claim their PARA allocation to the Parallel Balance by pressing the “Claim” button in the picture below.
The claim button should bring up a window that shows the details of your PARA balance and allocation. Select the button and authorize the transaction in your wallet to claim the tokens from the vesting contract.
After the transaction is finalized, your PARA balance will update accordingly and you will be able to claim any additional rewards using the same process.
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