Creating Your Own Auction
Step 1: When creating a new auction, you can choose to provide an existing token or mint a brand new token.
If you are minting a new token, you must first decide the name, ticker, and supply of your token. There are three different formats that you can model your token after:
- Fixed - Standard ERC20 token with a fixed supply
- Mintable - Standard ERC20 token with a function allowing further minting at a later date
- Sushi - Similar to mintable tokens but with additional capabilities
Step 2: Select the token that you want to receive payment in. In most cases this will probably either be a stable coin like USDC or the native token of the network you are using.
After that, set a starting and ending date/time for your auction.
Step 3: Select the type of auction and enter the price of your token. There are currently three auction types available:
- Dutch Auction
- Batch Auction
- Crowdsale
Step 4: Next, set the liquidity lockup time for your token.
Step 5: If you want your auction to be made available only to whitelisted participants for a private sale, you can upload a CSV file.
When done, click the Review button.
Step 6: Double check and review all of your token’s details. Be sure you are entirely content with the parameters you have set - especially if your token is set to be of a fixed supply.
After clicking the Create Auction button, you will receive a notification regarding the creation of your auction. Once the address has been generated you will be forwarded to the auction landing page.
Congratulations! Your auction is now live and will be open for bids according to the time you have set!
Editing Auction & Token Information
Providing links to additional content regarding your token is crucial to proving the legitimacy of your project to all potential participants. This would be things like Official Website, Tokenomics, Whitepaper, Restricted Countries, Whitelists, etc.
At the bottom of the page, you will also find additional options for whitelisting and the ability to warn particular regions against participating in your sale.
Note: Updating this information calls an on-chain transaction and WILL cost you gas!
Finalizing Your Auction
After your auction has finished, you must finalize it. This can be done by clicking the Finalize Auction button located at the top right hand corner of the UI. After signing a transaction and paying the gas fees, your tokens will be open for claiming by anyone who participated in your auction!
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