How do I use Xverse wallet to participate in the Yuga Labs TwelveFold auction?
All you need to know to participate in the Yuga Labs Twelvefold auction with Xverse wallet.
Xverse, the most advanced and user-friendly Bitcoin wallet, makes it easy to participate in Yuga Lab's 24-hour auction of for TwelveFold Ordinal inscriptions. With the ability to inscribe data onto individual satoshis, Ordinals enable the creation of NFTs directly on the Bitcoin blockchain. The historical auction ends on Sunday, March 5, 2023 @ 3pm PT / 6pm ET / midnight CET.
In order to bid and receive Ordinals in the auction, you'll need a special Taproot address generated in Xverse wallet. By separating the BTC payment and Taproot addresses, Xverse is designed to keep Ordinal inscriptions secure. Additionally, you can view your ordinals in a beautiful gallery within the app, and when desired, you can send or trade them.
Follow these 5 easy steps to participate:
1. Download Xverse Wallet
First, you'll need an Ordinals wallet like Xverse, available for iOS, Android and as a Chrome browser extension.
2. Save your Secret Key Phrase
As Xverse is a non-custodial wallet, you have 100% control of your assets and only you have access to your secret key phrase. Upon selecting "Create new wallet", you can opt to write down your secret key phrase or opt to bypass this procedure at a time that is convenient for you.
However, we highly recommend you take the time immediately to write it down and store it in a safe place. You'll need it to secure both the Bitcoin (BTC) for placing bids and your winning inscriptions.
3. Enter your receiving address
Visit the Yuga Labs auction website https://twelvefold.io/ and enter your Ordinal address for winning bids in the "Receiving address" field. To view and copy your Ordinal address in Xverse, you'll need to...
Go to “Collectibles” and then tap the “Receive” button. Then select the "Ordinals" option in the Receive NFT pop-up.
*Important note: After copying the Ordinals address you'll get this warning message:
No need to worry. All bitcoin (BTC) paid to place bids that do not win inscriptions will be returned to the receiving address provided above in step 3 above. Xverse will support withdrawing BTC from your ordinals wallet in the next update this week. In the meantime, the BTC amount placed on the losing bid will be held safely in your Xverse Wallet.
Paste the address in your clipboard into Yuga Lab's receiving address form:
4. Deposit BTC to place your bids
Select "Receive" in the middle of the home screen and choose BTC on the top of this list to deposit bitcoin (BTC) into your Xverse Wallet, which you'll later use to place bids during the auction:
Then tap "Copy address" blue button and paste the address into an exchange or wallet from which you'd like to deposit Bitcoin (BTC)
5. Place your bids on TwelveFold website
When you're ready to place a TwelveFold bid, copy the "Deposit address" shown using the button shown to its right:
Return to your Xverse Wallet, tap the "Send" button in the top-left of the home screen and select BTC
Paste the "Deposit address" into the "Recipient" field, enter your bid amount in the “Amount” field (e.g. "0.4269 BTC"), then tap the "Next" button.
On this page you can double check the details and finalize the transaction. To simply confirm the transaction you can click “Confirm.” If you wish to increase the transaction fees (Bitcoin gas fees), you can do so by clicking “Edit Fees”. Once you choose the fee you wish to pay, click “Apply.”
*Note: Make sure you have enough Bitcoin in your Xverse Wallet to cover the bid amount as well as the gas fees you wish to pay to process the transaction or the transaction will fail.
Then simple press the “Confirm” button and monitor the Yuga Labs leaderboard.
Your bid won? Congratulations! TwelveFold Ordinals will appear under "Collectibles" immediately upon receipt. The timing for this will depend on Yuga's conclusion of the auction, inscription and sending process, and network congestion. Head over to the Yuga Lab's FAQ page for more details.
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