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Create a Dutch auction
2. Click "Create" and "Create an auction".
3. Choose your desired blockchain network, token type, auction type and make sure to link your wallet successfully before you can proceed.
4. Fill in information about the token you're auctioning, you can do so in three ways:
- Search the token's name
- Copy and paste token contract address
- Token symbol and token decimals will be auto-filled after entering the token contract address.
- 5.Fill in the following auction parameters.
- Funding currency: the currency to receive for the auctioned assets.
- Starting price (price ceiling): the starting price to start bidding on the assets, this is the highest price. The price will start counting down from here.
- Reserve price (floor price): the lowest price to the auction will reach, in case there are no higher bids placed.
- Auction price decreasing times: enter the number and the system will automatically calculate the decreasing rate .
- Amount: the number of tokens to auction.
- Allocation per wallet: the maximum amount of tokens one wallet can purchase from your pool.
- 6.Fill in the advanced settings:
- Pool name
- Auction duration
- Token unlocking schedule
- Refundable: This is a default setting meaning participants are free to withdraw from the auction before auction is ended. You can turn it off if you don't want this feature for your auction.
- Participant: You can choose to open auction to only whitelisted addresses. You should prepare a list of addresses beforehand and import to the whitelist section.
- 7.Review your auction parameters and confirm your auction creation.
- 8.Once you hit "confirm", your wallet extension will pop up and ask to confirm gas fee. Once the transaction is confirmed and submitted, you'll receive a "congratulations" confirming that your auction pool has been successfully created.
- 9.Your Dutch auction pool should look like this, where a live chart allows you to monitor live price and bid.