I’m on a four hour flight

Let’s see if I can understand Moxie by the time I land

I’m ranked 92 for something 

Don’t know what that means, why I am ranked that, or if it’s any good

But hey, it’s info

Ok I’ve landed

I understand the token and vesting etc…

What I don’t get is why fan auctions have an initial period and where to trade them on the secondary market

Fan Token Auctions utilize the Moxie Batch Auction

Bidders win in order of the highest bid price offered.

At the point where the supply reaches zero, the bid of the winning bidder becomes the final clearing price.

This final clearing price will be the clearing price for all participants.

If multiple bidders have placed the same bid for the last supply, the one who placed the bid first wins.

Please refer to the simplified example below.

Basically, the supply of fan tokens is infinite, but the quantity available in the initial fan token auction is 10% of the followers. During the fan token auction period, the initial fan token supply (10% of the followers) is auctioned off through bidding.

The auction is conducted using a batch auction system. You might already be familiar with the batch auction system, but in case you are not, I'll include a brief explanation below that I wrote.

Immediately after the auction ends, fan tokens can be bought and sold through the Airstack website and WC frame. Frame is the only places where fan tokens can be traded. Fan tokens do not have a secondary market and cannot be sent to others. Transactions are conducted at prices determined by the bonding curve.

Midwest mom in a California dad bod || Ruthlessly pro Farcaster  

Basically, the supply of fan tokens is infinite, but the quantity available in the initial fan token auction is 10% of the followers. During the fan token auction period, the initial fan token supply (10% of the followers) is auctioned off through bidding.

The auction is conducted using a batch auction system. You might already be familiar with the batch auction system, but in case you are not, I'll include a brief explanation below that I wrote.

Immediately after the auction ends, fan tokens can be bought and sold through the Airstack website and WC frame. Frame is the only places where fan tokens can be traded. Fan tokens do not have a secondary market and cannot be sent to others. Transactions are conducted at prices determined by the bonding curve.
https://warpcast.com/dd8/0x6561e763