Spot Auction and Spot Lottery

Snipers and sniping utilities have taken a toll on new projects who attempt to launch their projects fairly and freely. These snipers often grab huge supply amounts and continuously suppress price action, not allowing for a fair distribution to those who market buy.

Our Spot Auction feature allows developers to auction the initial bundle(s) of their project launch. Rather than being targeted by snipers, the initial blocks on launch can now be opened to the free market for general participants, allowing a fairer launch for holders and more successful launches for developers.

How does it work?

1. Developer sets the total number of available spots for auction.

2. Developer can also add private spots which are available either through TG or web link pr by using a private key. These private orders are bought after auction spots. Refer to our ‘Bundling Buys’ section for more information on using TG, web, or private keys for bundling.

3. Those who wish to participate will put in an ‘offer’ for a bundle spot through our DAPP. The current bids or offers are visible to users prior to putting in their own offer.

4. Because the offers are visible, your offer can be monitored and changed if you are outbid. For example, if there are one hundred spots open and two hundred individual bids, only the highest one hundred offers will receive a spot in the bundle.

5. Because we are eliminating snipers, the bribe fees can be dispersed between the project and the holders rather than to miners, offering a new revenue share outlet that will be split 25% to developers and 75% to revenue sharing for holders.

Spot lottery will function the same as spot auction but with a fixed price for bundle spots. For example, a new project is launching and is offering one hundred bundle spots at 0.05 eth per spot. Now, two hundred individual offers are made and accepted at 0.05 eth each. But only one hundred of these offers can be accepted and are selected randomly to ensure fair distribution.

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