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dude
@imthedude
every time i think i understand MOXIE someone else makes a cast that confuses me even more
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KiddⓂ️etro 🎩
@lorenzo-007
🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣😁 Read about moxie like 10 times I am still confused @aaronv.eth quick question please Moxie was to boost the gdp of farcaster so the fan token are one of the ways to boost that gdp? Because when i entered the claim frame I saw top casters posting their FT and casters bidding why?
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aaronv
@aaronv.eth
in simple terms: if you cast and engage on the timeline, you earn moxie. if you decide to use some of that moxie to buy fan tokens then you get a cut of their earnings on the timeline. so if you buy a fan token who’s got a strong presence in the ecosystem then you will get some of the rewards. the moxie token is like a shared earnings mechanic for those who are active on Farcaster. make sense?
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KiddⓂ️etro 🎩
@lorenzo-007
now I understand But what about the bidding war Saw some one bidding I think Linda FT for very high moxie. What’s that about
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aaronv
@aaronv.eth
the auctions for fan tokens are rolling out slowly and last 3 days - the auctions are based on winning bids above the 50%. (not exact math but as an example): 5 ppl bid 1, 2 ppl bid 5, 2 ppl bid 10, 3 ppl 15, 1 bids 100 the winning middle bid would be set as the price (10) and all bidders above it will win with their refund of the difference. so if you don’t want to lose the bid, some are bidding higher than clearing price listed by airstack to secure their spot
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KiddⓂ️etro 🎩
@lorenzo-007
Ooh nice explanation Thank you so much 200 $dudegen
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