Set Price Minters (ETH | ERC20)

The price to purchase a token is set by the artist and is the same for all purchasers.

If using an ERC20 minter, you will need to specify the ERC20 token address for the custom token sale.

Automated Exponential Dutch Auction (with settlement | without settlement)

<aside> 🔗 See also Project Pricing & Dutch Auction Settings for more information on how to determine the appropriate pricing parameters for your auction.

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For exponential Dutch auctions, specify the 'start time,' 'starting price,' 'ending price,' for price drops. These auction mechanisms aim to allow collectors to achieve price discovery on the blockchain.

Half-life is the least intuitive of the parameters. One way to determine half-life is to think of the total duration of the auction and then work backward to find the half-life at that total time. For example:

• Consider Exponential Dutch auction was starting at 1 ETH and lowering to 0.1 ETH over 30 minutes.
• Using this calculator, the half-life can be determined to be 9 minutes (540 seconds). This means every 9 minutes, the price would be cut in half. After 9 minutes, the auction will reach 0.5, and after 18 minutes, the auction will reach 0.25. The price drops within those half-life steps will gradually lower every block until the auction ends, at which point the auction will remain constant at the ending price.

One way to think of an exponential auction is that the rate of price percent decrease is constant throughout the auction.

Artist Instructions for Claiming Revenue (settlement minter only)

Artists are able to claim revenue after either:

• the project sells out, or
• the dutch auction reaches resting price

We ask that artists promptly collect revenue when it becomes available. To collect revenue:

• Click the Claim Revenue button that becomes available in the project shell on the right-side inspector panel, which will prompt you to send a transaction

If the button is selected after the project has sold out, all revenue from the project will be distributed at the time of claim

If the button is selected after the auction reaches its resting price but before all tokens have been purchased, revenue from previous purchases will be transferred. Revenue from subsequent purchases at resting price will be distributed immediately at the time of each purchase.

Automated Linear Dutch Auction

For linear Dutch auctions, artists will specify the starting time, starting price, ending price, and ending time of the auction. The price will then linearly decrease each block over the total auction time.