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DAO Tokens Guide

In RaidGuild, tokens such as xDAI, wxDAI, and RAID are essential for governance, funding, and participation within the DAO. This guide will help you acquire and manage these tokens, including detailed instructions on how to wrap xDAI into wxDAI and swap xDAI for RAID.

RaidGuild operates on DAOhaus, a DAO management platform that uses the Gnosis Chain (formerly xDAI Chain) for inexpensive transaction fees on DAO activities.

  • xDAI is the native stable token on Gnosis Chain.
  • You can wrap xDAI to obtain wxDAI for use with RaidGuild’s DAO.
  • xDAI can also be swapped for RaidGuild’s own RAID token.

How to Get xDAI​

  1. Set up the Gnosis Chain network in MetaMask
  2. Purchase xDAI directly
  3. Bridge to xDAI from DAI on another network

1. Set up the Gnosis Chain Network in MetaMask​

Gnosis Chain, previously known as xDai Chain, still uses the xDAI token for transactions. For more details on Gnosis Chain basics, refer to the official website.

  • Open MetaMask, click Add Network or go to Settings > Networks.
  • Enter the following network information:
FieldValue
Network nameGnosis Chain
New RPC URLhttps://rpc.gnosischain.com/
Chain ID100
SymbolxDAI
Block Explorer URLhttps://blockscout.com/xdai/mainnet/
Screenshot: Add Network dropdown in MetaMask
Add Network option in MetaMask.
Screenshot: Example of filled form
Example of filled network form.

Additional Tips for Gnosis Chain​

2. Purchase xDAI Directly​

Buying xDAI directly is an efficient option that avoids any bridging or swapping steps. For a full list of direct purchase options, see the Gnosis Chain website.

Options include:

Screenshot: Copy wallet address
Send the xDAI to your wallet address after purchase.

3. Bridge DAI to xDAI from Another Network​

For users holding DAI on other chains, bridging DAI over to xDAI is a cost-effective option, especially when bridging from L2 networks or sidechains. Below is an example process using the Polygon network.

3.1 Set up Polygon Mainnet in MetaMask​

  1. In MetaMask, click Add Network or go to Settings > Networks.
  2. Enter the following details for Polygon:
FieldValue
Network namePolygon Mainnet
New RPC URLhttps://polygon-rpc.com/
Chain ID137
SymbolMATIC
Block Explorer URLhttps://polygonscan.com/

For updates, refer to the Polygon setup guide.

3.2 Buy MATIC and Send to MetaMask​

MATIC is the native token of Polygon. To get started, buy some MATIC and send it to your MetaMask wallet.

info

Tip: Leave enough MATIC for gas fees. Avoid swapping 100% of your MATIC to ensure your transactions can go through.

Screenshot: Copy wallet address
Transfer MATIC to your MetaMask wallet.

3.3 Add the DAI Token to Polygon in MetaMask​

  1. Copy the Polygon DAI contract address.
  2. In MetaMask, click Import Tokens and paste the address.
FieldValue
DAI Stable Coin (PoS)0x8f3Cf7ad23Cd3CaDbD9735AFf958023239c6A063
Screenshot: MetaMask Import tokens and Swap, highlighted with green
Import tokens and Swap highlighted in MetaMask.

3.4 Swap MATIC for DAI​

The easiest way to swap MATIC for DAI is within MetaMask, although using a DEX like Honeyswap may provide lower fees.

Swap MATIC to DAI in MetaMask

  1. Click the Swap icon in MetaMask.
  2. Choose MATIC as the input and DAI as the output, specifying the amount.
  3. Confirm the swap.
Screenshot: MetaMask swap screen
Swapping MATIC to DAI in MetaMask.

Swap on Honeyswap

  1. Go to Honeyswap, connect your wallet, and approve the connection.
  2. Select MATIC to swap from, then DAI to swap to.
  3. Confirm the swap and approve it in MetaMask.
Screenshot: Honeyswap form
Honeyswap swap form with transaction details.

3.5 Bridge DAI to xDAI​

To bridge DAI to xDAI, use a reliable bridge like Connext, which allows transfers from Polygon to Gnosis Chain. The process typically involves several approvals in MetaMask.

  1. Visit Connext Bridge and connect your wallet.
  2. Enter the DAI amount and approve the transfer steps in MetaMask.
Screenshot: Connext Approve DAI
Approve DAI bridging on Connext.

Wrapping xDAI to wxDAI

RaidGuild uses wxDAI for various DAO functions. You can wrap xDAI to wxDAI on Wrap Eth or Sushiswap.

1. Add wxDAI to MetaMask​

FieldValue
wxDAI token address0xe91D153E0b41518A2Ce8Dd3D7944Fa863463a97d

2. Wrap xDAI Using Wrap Eth or Sushiswap​

Using Wrap Eth​

  1. Go to Wrap Eth, connect your wallet, and select Gnosis Chain.
  2. Enter the xDAI amount to wrap, confirm, and approve the transaction.
Screenshot of wrapeth.com
Wrap xDAI using Wrap Eth.

Using Sushiswap​

  1. Go to Sushiswap, connect your wallet, and select

Gnosis Chain. 2. Choose xDAI as the input and wxDAI as the output, then confirm.

Screenshot of swap options in Sushiswap
Swap options in Sushiswap for xDAI to wxDAI.

Getting RAID Tokens

RAID tokens can be acquired by swapping xDAI on Honeyswap.

1. Add RAID Token to MetaMask​

FieldValue
RAID Token Contract Address0x18E9262e68Cc6c6004dB93105cc7c001BB103e49

2. Swap xDAI for RAID on Honeyswap​

  1. Go to Honeyswap and connect your wallet.
  2. Select xDAI to swap from and RAID as the token to receive.
  3. Confirm and approve the swap in MetaMask.
Screenshot Select the RAID token
Select the RAID token in Honeyswap.

More about $RAID​