Moxie Official

Finally got a chance to bid today! You can always track all of your bids on Airstack:
https://www.airstack.xyz/?activeTab=your-bids

Help me understand what happens when the bidding stops. This part didn’t land for me. The max bid seems high in some case then there’s this clearing price thing 🤷🏻‍♂️🤔

Ethereum builder & people connector. @juicebox revnet.eth.sucks defifa.net d33m.com

Max bid is the highest single bid by any bidder

Clearing price = the price at which the auction would close at today

Example: 

There are 10,000 Fan Tokens Available

Jason bids for 6,000 at 500 MOXIE each
Wake bids for 5,000 at 5000 MOXIE each

Wake's bid of 5000 MOXIE is the highest bid

but if those are the only bids ever, then Wake and Jason will both get it for 500 MOXIE. Wake will get 5000 FT and his excess bid amount (everything above 500 per bid) will be returned to him. and Jason will get only 5000 FT at 500 MOXIE each.

There were 10k available and 11k was bid for, so everyone gets it at the lowest price that would sell out the lots available

This is helpful. I'm almost there in understanding. Why do both get it for 500 MOXIE? Because it didn't sell out so slide back to next bid?