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Gwynne Michele
@thecurioushermit
hihi, get ready for @thecurioushermit's Fan Token auction powered by @moxie.eth! cc @betashop.eth @airstack.eth
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Edward H. Carpenter
@ehcarpenter
Awesome! Looking forward to seeing how this goes! Did you have the option to change the "% shared with fans" or is the previous default of 20% unchangeable in the "self-directed" auctions as in the previous team-directed ones? Here's a 🎁 of 1924 $farther for any light you can shed on this question!
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Gwynne Michele
@thecurioushermit
I did not have that option yet, but I could change the initial supply. It was set at 10% of followers - 110 for me - so I switched that to 200. I wanted to increase the supply a bit, but also not too much. They're unlimited after, but it's hard to know the right balance for that starting amount.
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Edward H. Carpenter
@ehcarpenter
When you say "unlimited after" do you mean you could auction 200 this week, but then later increase the supply to a much higher quantity? Wouldn't that devalue the tokens bought at auction by your original collectors? 🤔 Or is it that you have to pick a number for the auction, but it can't be lower than 10% - but once chosen, it is fixed in perpetuity?
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Gwynne Michele
@thecurioushermit
The auction occurs to determine the market rate for the tokens. The initial supply is limited for that reason. After the auction, there is no limit to the number of tokens that can be bought, the supply will constantly grow. Each buy raises the value of the token a bit, each sell lowers it. There's also buy and burn mechanism where you can buy your own fan tokens and burn them to raise the value of the existing tokens.
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