Moxie Official

if you encountered something, anything, maddeningly frustrating about the Moxie launch today, please post a reply in this 🧵

we want to listen and learn and make Ⓜ️oxie great for everyone

Gm Jason, is there a FAQ about the Bid process? I would like to know 
things like: how do bid dynamics work? What happens if there is less demand until the end of an auction than there are tokens available? What is the difference between using moxies from contract and waiting for them to be available at 1/180? Sorry if these questions are dumb ✨
Cc @ipeciura.eth

airstack

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.

Hi @marcelonada we are preparing a one pager later today, meanwhile this is a good summary:
https://warpcast.com/dd8/0x6561e763

If not all of the Fan Token are bid for, the remaining FTs are burned when the auction is closed.

On your last point - you can use the whole allocation right now, instead of waiting for it to unlock 1/180. That is the main difference :)

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