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Content
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McBain
@mcbain
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
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Catch0x22
@catch0x22.eth
No secondary market *yet* but I think it could be possible in some way. It's crypto I think the team has chosen the first lot of fta along with the timings to try and give everyone fair access to different channels n ppl but it'll be available for anyone to launch eventually
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Mikado
@mikadoe.eth
Welcome aboard FT auctions and buys (after the auction ends) are both available through airstack website which would open as a frame in FC. The website is in @betashop.eth bio.
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dd8🎩🎭
@dd8
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
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Penguin
@sleepypenguin.eth
This is to have a fairer launching. Having an auction rather than the usual first buyer gets the lowest value (prone to botting) Market: https://www.airstack.xyz/fan-tokens?activeTab=market
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Rafaello.base.eth
@rafaello12
You can always buy after the auction is ended With your unvested or unvested tokens
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Salinek
@electrike.eth
on airstack page
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Dr B lizardo
@bluelizardo.eth
we don't have any secondary market for them , you should buy/sell from contract
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Imran Hossain 🎩🔵⛓Ⓜ️ pfp
Imran Hossain 🎩🔵⛓Ⓜ️
@imran07
Waiting for you my fam 10 $Degen
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SSR🦉
@0xssr.eth
Is this not enough to answer the why? If yes please share, i need that kind of critical thinking to be better.
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baubergo
@baubergo-
Auctions are just the first time to buy them for cheap. You can buy them later at any time (for a higher price, usually)
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Fadil
@blackkhammer.eth
You can trade on air stack website, the send you a Dc with the frame you need to make the trade
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Erik
@eriks
have noticed after auction ends the secondary bids up price on some bigger accounts/channels, prob due to complexity of bidding i think they’re making bidding a lot less complex soon tho in terms of supply on secondary, if someone buys it adds a token to circulation and if someone sells it removes a token from circulation
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Sirmole.eth 👾
@sirmole
Wow….u way up @mcbain
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Gwynne Michele
@thecurioushermit
From my understanding, the initial auction is to establish the base market price of the tokens. From there, you can buy and sell on frames, which you can find on airstack.xyz or through your feed.
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Stephen Miller 🍖⌐◨-◨
@stephenmiller
They are traded with frames so make sure to follow @airstack.eth and look for their message if it got put into requests box. You can claim and view your tokens here https://www.airstack.xyz/my-assets and click B or S to get a frame sent to your messages. They are in a bonding curve. I've found it better to buy channel auctions and wait to see for certain profile tokens.
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tricil
@tricil.eth
the only market for them is via the airstack site (or via frames) initial period kicks it off and sets the bonding curves initial point
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