📸Bid
Bids are essentially a fair launch mechanism for fantech shares
Key Details:
Bidding Window: During an SGE, users are given a relatively short period of time to submit their bids for an account's shares.
Eligible Winners: After the bidding period concludes, the platform determines the eligible bid winners. These are the 5 users who submitted the highest bids within the specified time frame.
Price: The price at which the shares are sold can vary and is determined by the bids submitted by users.
Results: Once the SGE ends, fantech calculates the winning bids and determines the users who have successfully secured shares. These results are then communicated to the users through their inbox.
There is a minimum bid each users have to place at. Minimum bids essentially means if there are no higher bidders, the bidding will settle at current price.
Bidding is a unique feature on fantech which entails a few elements
Price discovery: Users engage in competitive bidding to secure shares at the price point they feel the fairest, hence enabling a price discovery mechanism on each account.
Ownership & Engagement: The competitive bidding process encourages active participation and engagement within the platform and winning bidders will have a sense of belonging and ownership early on within the community.
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