🔔DGT Dutch Auction

Inviting governors of DIP Exchange

DGT will undergo a fair launch after the Launch. There is no pre-mine and pre-allocation. All users and community members, including DIP team, will be required to earn or purchase at the fair launch date.

DGT Dutch Auction

A Dutch Auction, also known as descending price auction, refers to a type of auction in which an auctioneer starts with a very high price, incrementally lowering the price until someone places a bid. The first bid wins the auction, assuming the price is above the reserve price, avoiding any bidding wars.

DIP Dutch Auction details are as follows:

  • Bid Asset: DIP

  • Starting Price: Preset by DIP DAO in DIP/DGT

  • Floor Price: Preset by DIP DAO in DIP/DGT

  • Clearing Price: Decreases linearly every second throughout the auction period.

  • Auction Close: Within 24 hours or when token price reach the ceiling price.

  • Distribution: Immediate after the closing of the auction at clearing price.

  • Burn: If the auction ends successfully, DIP is immediately burned.

  • Refund: If the last bidder's contribution exceed the ceiling price, it is fully refunded. If the last bidder enters an DIP amount larger than the amount sold, the unused DIP will be refunded.

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