Moxie Official

a couple of important Moxie updates:

1. We're making a change to the bidding flow later today to make it more clear based on feedback. Instead of being asked "what price" & how many" Fan Tokens you want, it will be:

a. What's your max. price per FT?
b. What's your budget?

That's the way the auction actually works. It tries to satisfy the entire budgets of everyone whose max. bid is greater than the clearing price, prioritizing highest bids first, then next, next. If your max. price is above the clearing price you will always get something.

2. The Protocol burns all protocol fees, once per day. The fees are 5% when auctions end & 2.5% whenever a FT is sold. This affects total supply, which started at 10B 
https://basescan.org/token/0x8C9037D1Ef5c6D1f6816278C7AAF5491d24CD527

3. Fan Token holders' sharing of rewards by "buying and burning" will start on Monday. We want to make sure that is perfect. These will always be done at random times so it cannot be frontrun.

Thanks!

also, if there's any confusion on the "buy and burn" - you do not need to do anything, this just happens from the protocol