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Zenigame
@zeni.eth
The Fan Token bidding flow has changed! Thanks to those who sent me the @betashop.eth cast. Missed it while asleep π What's new? Qty of tokens -> Max volume you're willing to spend Quick take - It's better. - Gets rid of bidding using low token counts and very high prices, which is bad for everyone (including the bidder). - Don't sleep or you'll miss stuff (j/k, mostly)
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@zoz.eth
It was more confusing for me at first
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Zenigame
@zeni.eth
same, I actually messed up an auction because of it but was able to cancel imo it was needed though, I saw some crazy bids for 0.3 tokens at 5,000,000 that were screwing up the clearing price the earlier the better
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@zoz.eth
How does that screw up the clearing price? They just want 5M tokens at any price The clearing price is an aggregate of volume divided by fan tokens available in auction
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Zenigame
@zeni.eth
I'm still working to understand it more comprehensively myself, but did check with a team member. let me quote cast this to the airstack channel and get an official take
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@zoz.eth
Clearing price = total volume/fan tokens available End of auction executes bids highest price to smallest. Each bidders volume will be filled at clearing price If > 1 bidders at clearing price. It will execute orders based on earliest order until all are filled
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Zenigame
@zeni.eth
I think you're right, it is mostly this simple. The few spreadsheets I did were off total volume / fan tokens available, but not by a significant enough amount to matter
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@zoz.eth
Itβs a learning process. Took me a while to figure this out in real time trying to get the fnft
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