airstack

here is significantly updated information about how Moxie Fan Token Auctions work according to the smart contract

Simple Guide to Fan Token Auctions

Read carefully and let us know if any questions!

Please 🔁 recast for visibility

https://build.moxie.xyz/the-moxie-protocol/simple-guide-to-fan-token-auctions

I have 2 questions:
1. When placing a bid in a Moxie Fan Token auction, how does the smart contract calculate the clearing price, and how does it ensure that the winners do not pay more than their bid?

2. After the auction ends, what are the next steps for processing, and how are the proceeds from the auction distributed?