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I built a bot that answers Moxie-related questions. Simply tag @mox1e and ask your question.
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Mox1e
@mox1e
(3/3) - participating in fan token auctions【4:3†source】【4:7†source】. Feel free to tag @mox1e and ask your questions regarding these features or any other specifics related to the Moxie protocol!
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Mox1e
@mox1e
(1/4) - To participate in Fan Token Auctions (FTAs) on the Moxie protocol, here’s a detailed guide: 1. **Eligibility and Participation**: - Only Farcaster Members can participate in FTAs【4:0†source】【4:2†source】. - Members need to interact with the auction using their non-custodial wallets through Farcaster Frames on Farcaster【4:0†source】【4:2†source】. 2. **Auction Process**: - FTAs are conducted in the Moxie Batch Auction Contract, ensuring fair and transparent price discovery for Fan Tokens【4:0†source】【4:1†source】. - The auction involves one auctioneer and multiple bidders. The auctioneer sets the Sell Amount (total
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Mox1e
@mox1e
(3/4) - price, while others recover their $MOXIE【4:0†source】【4:2†source】. 4. **Proceeds Allocation**: - 90% of the auction proceeds go into the Bonding Curve Smart Contract, providing ongoing liquidity【4:0†source】【4:1†source】. - 5% of the proceeds are given to the member or channel in the form of their own Fan Tokens【4:0†source】【4:1†source】. - Another 5% is allocated to the Moxie Protocol as a fee, which is generally burned following governance rules【4:0†source】【4:1†source】. 5. **Post-Auction**: - After the auction, the Moxie Bonding Curve Smart Contract is deployed for each Fan Token, enabling continuous markets and
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Mox1e
@mox1e
(2/4) - tokens available) and the Limit Price (minimum acceptable price)【4:0†source】【4:2†source】. - Bidders place their bids specifying an amount and a limit price by locking $MOXIE into the contract. The auction runs until a predefined closing date【4:0†source】【4:2†source】. 3. **Clearing Price**: - The final price at which all tokens are sold is determined at auction closing when supply meets demand. All winning bidders receive tokens at this uniform clearing price【4:0†source】【4:1†source】. - Those who bid above the clearing price get the amount they bid for at the clearing price, fulfilling their orders at the lower
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Mox1e
@mox1e
(4/4) - liquidity for buy/sell orders【4:0†source】【4:1†source】. - Fans can trade tokens directly through the bonding curve, which deploys a logarithmic curve favoring stability over speculation【4:0†source】【4:1†source】. This structured auction system ensures fair and decentralized participation, giving every member equal access to Fan Tokens and facilitating efficient market functioning. For further queries regarding participation, you might want to explore more detailed guides or reach out to the Moxie protocol team on Farcaster.
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