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Coop
@coopahtroopa.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?
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tim/vortac
@vortac
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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Coop
@coopahtroopa.eth
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? 1000 $DEGEN
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tim/vortac
@vortac
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 😅
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Walleteer 🎩
@walleteer.eth
Not sure I’d characterize it as an “income stream”. From what I understand, the rewards for fan token holders go into increasing the token price. So you only realize those rewards when you sell (but then of course selling creates downward pressure on the price). https://warpcast.com/walleteer.eth/0x9f1bea43
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