Moxie Official

Coop

I just signed up for alerts for @coopahtroopa.eth's Fan Token auction cc @betashop.eth @airstack.eth

So my Fan Tokens go live in 1d - I'm cool with it but interesting that the auction just kinda happens without my consent or knowledge of when it's starting?

Also don't fully understand how it works or how to think about the pricing of it.

Any good resources on Fan Token auctions and if I should participate?

Or what a realistic price/market value for these is?

Onchain is the new online - FID 206 -  cooprecords.xyz

In short:
- you have 411K followers, so 41K FT will be issued (10%)
- There's a 72 hrs auction period
- People bid with max Moxie price / token and max Moxie amount willing to spend (either from wallet or unvested contract)
- Price is dynamically calculated from all bids
- Settling price will be determined at the end of auction. If your bids are successful you get an allocation of tokens to claim, if not you get your bid(s) refunded.
- You automatically get 5 % of your own fan tokens as rewards

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You do not bid on an amount of tokens, but define the max price per token you're wiling to pay and the total max spend. At the end of the auction number of tokens and setting price is determined automatically.
Does that answer your question?

*number of tokens allocated to each successful bidder of the auction (to make it more clear).

If I would be the only bidder of an auction, I would get all the tokens for my total max spend Moxie defined when placing the bid. Only thing is min price per token is 1 Moxie, I believe...

What happens if there are fewer bids than tokens? I have 4,891 tokens in auction, and there are currently bids for 11,000. If no other bids are placed (ok, it's still early), what happens?

First of all thanks for the tip, appreciate it 🙏

The calculation is supposed to be complicated. Don't try to do the math. You can always follow all auctions on https://www.airstack.xyz/fan-tokens

You can see how the price changes if more bids come in and yeah, depending on when you get in during the 72 hrs period, it's a bit of guesswork. You can see the current setting price and the max bid. As with every auction lots of people get in at the end or change their bids accordingly.

Well, it's an auction system. That's how it is. Also you can always buy/sell afterwards. And pretty sure you can also sell your own tokens. 

But tokens held earn you constant Moxie.

I recommend to try it yourself on a few auctions you're interested in. It's always easiest to get the hang of it.

An important aspect is that holding fan tokens guarantees an "income stream" of Moxie as "engagement shares" of the "issuer" (either user or channel). The amount depends on how many shares you hold of how many FTs are issued. But the numbers are complicated to track properly, haven't really dug into this in detail 😅

Dynamically calculated price from all bids confusing me.

Feel like I have to do mental math to decide how much I want to pay vs being able to just buy a pre-determined price on some sort of curve.

"if your bids are successful" doesnt really click for me. If I want to buy it I should be able to.

Glad I'm getting 5% - can I sell my own fan tokens?

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