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GREENCROSS.xcp 🎩
@greencross.eth
I don’t understand Moxie.
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Max Jackson
@mxjxn.eth
cast-and-replyguy-to-earn
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GREENCROSS.xcp 🎩
@greencross.eth
thank you, but what’s the auctions about? who wins the auctions? what does one get by winning. Does one get anything just for bidding?
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Max Jackson
@mxjxn.eth
Auctions are basically a price-discovery mechanism. When the auction closes, every bidder over the clearing price pays the same low price. Then that token is publicly available on a bonding curve, starting at that price. So by participating in auctions, you're buying early and can buy in bulk at the lowest price. Does that make sense?
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