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FAQ
Frequently Asked Questions about Build Acala: Ready the Treasury

Top Verification & KYC Questions

Why is my status still "Identity Verification Under Review?"

Your documents are being reviewed and it may take several days for KYC determination to be reached. This is completely normal. There is nothing you can do to speed the process up. You will receive a KYC determination before the sale begins.

Can I resubmit or reset the failed KYC?

For compliance reasons, we have to adhere to the decision made by the KYC service provider. If KYC is failed, there is no way we can reset or revert at this point. We can't know the particular reasons why your application is failed. There are other ways that you can become a network owner without KYC, please read more here.

Pre-Event & Registration (Registration now closed)

What do I do if I registered my email in the first 'Build Acala' event that occurred in April 2021?

If you registered your email in the April 2021 'Build Acala' event, you DO NOT need to register on Sunday, 15th August. Users that were Verified (passed KYC) from the first 'Build Acala' event DO NOT need to complete KYC again. Users that did not finish KYC in the first 'Build Acala' event will need to submit all of their required verification documents by August 24th at 1pm UTC.

How can I check if I’m a Verified User (passed KYC) from the first ‘Build Acala’ event in April 2021?

You can check your status to see if you are already a Verified User by logging onto the event platform. You should see your “Identity Verification” as “Verified.”

How do I know if I am qualified for ‘Round #1: Old Friends’?

Review the criteria for ‘Round #1: Old Friends’ here.

If I have the Old Friend NFT and bought tokens in the 'Build Acala' event in April 2021, can I participate in the 'Old Friends' round?

No. However, you can still participate in the 'Open Community' round.

How do I get an Acala Old Friend NFT?

The Acala Old Friend NFT was minted for everyone who used Acala testnet before the end of 2020.

How do I prove I have an Acala Old Friend NFT?

You can prove ownership of the Acala Old Friend NFT by following our guide.

Can I register more than one account using the same Acala Old Friend NFT?

Only one account can be registered per one Acala Old Friend NFT. Accounts that registered on the same NFT will be banned from participating.

Can I transfer my Acala Old Friend NFT after registering?

After registration, we will audit which users hold the Acala Old Friend NFT. If your Acala Old Friend NFT is not in your account when we perform this audit, you will not be eligible to participate in Round 2: Open Community.

I lost access to my account with the Acala Old Friend NFT. Can you let me participate in ‘Round #1: Old Friends’?

No. You can only participate if you can prove your ownership by signing a transaction.

Can I participate in both the ‘Old Friends’ and ‘Open Community’ rounds?

Yes, if you are eligible to participate in ‘Old Friends’ round, you can participate in the ‘Open Community’ round too.

Why do I need to enter a DOT address for registration?

Polkadot addresses are structured so that one public/private key pair allows you to generate addresses for any network in the ecosystem, such as Polkadot, Acala, and Karura. For this Build Acala event, you will use your DOT address in the DOT display format to receive ACA. We can deliver ACA to this account.

⚠️🚨READ THE FOLLOWING WARNINGS ABOUT DOT ADDRESSES:🚨⚠️

  • Do NOT use an exchange account (e.g. Binance).
  • Do NOT use a Ledger account or Parity Signer wallet.
  • Do NOT use any mobile wallets besides Polkawallet due to technical issues with other wallets.
  • If you use any of these types of accounts, you risk losing your ACA.

How do I get a DOT address?

We recommend ONLY using accounts generated from the Polkadot{js} extension (desktop) or Polkawallet (mobile).
Option 1) I have a DOT address: Please review the warning above and see this guide to confirm your DOT address is in the correct display format.
Option 2) I need a new DOT address: DOT addresses should only be generated from the Polkadot{js} extension (desktop) or Polkawallet (mobile). Please see this step-by-step guide for how to set up a new account with the Polkadot.js extension or Polkawallet (mobile).

Can I use Ledger?

No.

Does my DOT address need to be active (at least 1 DOT in the account)?

No, any DOT address from Polkadot.js or Polkawallet will work, regardless of DOT balance.

What happens once pre-registration is closed?

Once pre-registration is closed, no new users will be allowed to register. Those who have registered are able to log back into their account and complete verification. Registrants who have not yet completed verification will still be able to submit verification information until 24th August 2021.
If you have already registered and completed verification, then you will be contacted for the next step if it becomes open to you.

Verification & KYC

What are some common issues I should be aware of before completing KYC?

Contact information must match your government ID exactly, including
  1. 1.
    Name (First, Middle and Last) - Do not use abbreviations or nicknames
  2. 2.
    Date of Birth
  3. 3.
    Country - Do not use an ID that does not match your contact information
Government ID’s
  1. 1.
    Ensure your ID is not expired
  2. 2.
    Ensure your ID type is supported. A list of supported docs for your country is found here: https://onfido.com/supported-documents/
  3. 3.
    The image of your ID must be readable without glare, blur, part of the image cut off or information on the image being covered.
  4. 4.
    The ID you submitted was scanned and unable to verify. You need to upload a photograph of your ID.
Selfie
  1. 1.
    Live Selfie - Do not upload a picture of yourself, make sure to take a selfie with your phone or computer

How long does it take to complete KYC?

KYC will most likely take several days to complete.

Why is my KYC taking so long? Can I submit additional documents to speed up the process?

KYC is handled by a third party and they are working to process users as fast as they can. Sending additional documents will not speed up the process.

How do I know if my KYC is successful?

If you have completed the steps in the system, and you can see a screen “Identity Verification Under Review” then it means you have submitted all required information. You may receive email notifications while you are completing a step in the process, but you should always check the status on the system.
If you see this screen saying “Identity Verification: Verified” then your KYC is successful.

I uploaded the wrong documents during KYC, can I change them?

No. All KYC submissions are final.

General Round 1 & 2

Why is the price of ACA denominated in DOT?

All proceeds of the Build Acala event will be converted to DOT and contribute to the Acala Treasury upon Acala's mainnet launch. This event will bootstrap the Acala Treasury which will be used to bootstrap liquidity, ensure Acala Dollar stability, and bid for parachain auction. Therefore ACA is denominated in DOT.

Round 1

What are the individual purchase caps?

The individual purchase caps are equivalent to a minimum of 20 DOT and a maximum of 40 DOT.

How do I know if my payment was successful?

You’ll know if your payment was successful by logging onto the event platform and going to your past transaction history. If the purchase is recorded in the history, we have successfully received your payment.

Can I make multiple purchases during Round 1?

No.

How long do I have to pay?

You have 30 minutes from when you leave the queue to make a payment.

Can I use the same MetaMask account for both rounds?

Yes.

Can I use different payment methods for both rounds?

Yes.

Can I send my DOT from an exchange?

Yes.

What wallet should I use if I’m paying with ETH, USDC (ERC-20) and USDT?

You MUST use MetaMask. No other wallet is supported for those payment methods.

Round 2

⚠️ Do not switch devices during the event. If you do, you will be kicked out of the queue and put to the back of the line.

Will being one of the first people to join the queue give me an advantage?

No. As long as you join the queue prior to the start of the event regardless if it’s 10 minutes or 1 hour prior, you will enjoy an equal chance to get into the event.

Will opening multiple windows give me an advantage?

No. We HIGHLY recommend that you stick to a single window.

What are the individual purchase caps?

The individual purchase caps are equivalent to a minimum of 50 DOT and a maximum of 80 DOT.

How do I know if my payment was successful?

You’ll know if your payment was successful by logging onto the event platform and going to your past transaction history. If the purchase is recorded in the history, we have successfully received your payment.

Can I make multiple purchases during Round 2?

No.

How long do I have to pay?

You have 30 minutes from when you leave the queue to make a payment.

Can I use the same MetaMask account for both rounds?

Yes.

Can I use different payment methods for both rounds?

Yes.

Can I send my DOT from an exchange?

Yes.

What wallet should I use if I’m paying with ETH, USDC (ERC-20) and USDT?

You MUST use MetaMask. No other wallet is supported for those payment methods.

My exchange wouldn’t let me withdraw my tokens and I missed my chance to buy. Can you help me?

No. Users should have their funds ready prior to the event starting.

Post-Event

Can I change my DOT address from the first Build Acala event that occurred in April 2021?

Yes. The DOT address field is editable in your profile on the event platform. However, whatever address you change to is where your Build Acala 1 ACA and your Build Acala: Ready the Treasury tokens (if you participate) will go.

I submitted multiple payments by mistake. Can I get a refund?

No. Any additional payments will be considered as a donation to the Acala Treasury.

When will my tokens be distributed?

Your ACA tokens will be distributed after the Acala network launches and transfers are enabled.

Where will my tokens be distributed?

We will use the DOT receiving address you provided to determine your corresponding Acala address. Your ACA tokens will be sent to this Acala address, which you control.

Where are the funds held before Acala mainnet launch?

The Acala Foundation will hold the DOT on this multisig account on the Polkadot Network before Acala mainnet launch. Upon the launch of Acala, the Acala Foundation will transfer the DOT to the Acala Treasury account. The Treasury account is managed by the network governance and is collectively controlled by ACA holders. Deployment of the Treasury is initiated via proposals (“Acala Treasury Proposals” or “ATP”).
The interim Acala Treasury account is here.
Effectively upon network launch, all proceeds from this Build Acala Event will be contributed to the Acala Treasury. Acala may also reserve up to 10% of all proceeds to bootstrap Karura's Treasury, which upon the network launch will effectively be managed the network governance and collectively controlled by KAR holders. Deployment of the Treasury is initiated via proposals (“Karura Treasury Proposals” or “KTP”).

Are there other ways to get ACA?

There are three main ways to obtain ACA:
  1. 1.
    Participate in the upcoming Acala crowdloan event, which invites the community to lock/bond DOT in the crowdloan module on Polkadot to support Acala's bid in the Polkadot parachain slot auctions. In return, supporters will receive ACA (amount to be determined) upon Acala's network launch. Date will be announced soon, join the newsletter and channels to stay updated.
  2. 2.
    After the mainnet launch, there will be liquidity programs to incentivize usage of Acala's DeFi protocols: staking DOT through the Liquid Staking protocol, providing liquidity to AMM DEX, minting stablecoin will all qualify for liquidity rewards in ACA.
  3. 3.
    Contribute to Acala Treasury via the Build Acala Event in exchange for ACA. The proceeds will be contributed to Acala’s on-chain Treasury. Read more here.
Join our newsletter and participate in future events: http://linktr.ee/acalanetwork.

My Data

Here are some info and what you can do
  1. 1.
    for verified users who participated, by legal requirement, we have to keep your data for 6 years.
  2. 2.
    for non-failed registrants or verified non-participants, you can participate in future build events. If you have not completed KYC, you can complete it when registration opens again. If you have already completed KYC, then no action is needed. You can also ask us to delete your data. We have consulted with the service provider, all your KYC info + personal info will be deleted. Please email [email protected] to delete if needed
  3. 3.
    for failed registrants, you can request to delete your data including KYC info + personal info. Please email [email protected] to delete if needed.
https://onfido.com/ is the KYC provider. https://www.tokensoft.io/ is the event platform
Last modified 26d ago
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Contents
Top Verification & KYC Questions
Why is my status still "Identity Verification Under Review?"
Can I resubmit or reset the failed KYC?
Pre-Event & Registration (Registration now closed)
What do I do if I registered my email in the first 'Build Acala' event that occurred in April 2021?
How can I check if I’m a Verified User (passed KYC) from the first ‘Build Acala’ event in April 2021?
How do I know if I am qualified for ‘Round #1: Old Friends’?
If I have the Old Friend NFT and bought tokens in the 'Build Acala' event in April 2021, can I participate in the 'Old Friends' round?
How do I get an Acala Old Friend NFT?
How do I prove I have an Acala Old Friend NFT?
Can I register more than one account using the same Acala Old Friend NFT?
Can I transfer my Acala Old Friend NFT after registering?
I lost access to my account with the Acala Old Friend NFT. Can you let me participate in ‘Round #1: Old Friends’?
Can I participate in both the ‘Old Friends’ and ‘Open Community’ rounds?
Why do I need to enter a DOT address for registration?
⚠️🚨READ THE FOLLOWING WARNINGS ABOUT DOT ADDRESSES:🚨⚠️
How do I get a DOT address?
Can I use Ledger?
Does my DOT address need to be active (at least 1 DOT in the account)?
What happens once pre-registration is closed?
Verification & KYC
What are some common issues I should be aware of before completing KYC?
How long does it take to complete KYC?
Why is my KYC taking so long? Can I submit additional documents to speed up the process?
How do I know if my KYC is successful?
I uploaded the wrong documents during KYC, can I change them?
General Round 1 & 2
Why is the price of ACA denominated in DOT?
Round 1
What are the individual purchase caps?
How do I know if my payment was successful?
Can I make multiple purchases during Round 1?
How long do I have to pay?
Can I use the same MetaMask account for both rounds?
Can I use different payment methods for both rounds?
Can I send my DOT from an exchange?
What wallet should I use if I’m paying with ETH, USDC (ERC-20) and USDT?
Round 2
⚠️ Do not switch devices during the event. If you do, you will be kicked out of the queue and put to the back of the line.
Will being one of the first people to join the queue give me an advantage?
Will opening multiple windows give me an advantage?
What are the individual purchase caps?
How do I know if my payment was successful?
Can I make multiple purchases during Round 2?
How long do I have to pay?
Can I use the same MetaMask account for both rounds?
Can I use different payment methods for both rounds?
Can I send my DOT from an exchange?
What wallet should I use if I’m paying with ETH, USDC (ERC-20) and USDT?
My exchange wouldn’t let me withdraw my tokens and I missed my chance to buy. Can you help me?
Post-Event
Can I change my DOT address from the first Build Acala event that occurred in April 2021?
I submitted multiple payments by mistake. Can I get a refund?
When will my tokens be distributed?
Where will my tokens be distributed?
Where are the funds held before Acala mainnet launch?
Are there other ways to get ACA?
My Data