a decentralised price discovery and liquidity bootstrapping mechanism


The Babylonian Marriage Market by Edwin Long (1875)

The Mechanism

The $FVT token lot structure
The price decays in every block until the lot is gone
  • Lot 1 (500k $FVT @ $0.01), sells out in a single buy and price doubles from $0.01 to $0.02 in lot 2.
  • Two buyers bid 10 ETH in close succession for Lot 2 (1m $FVT @ $0.02). One user’s 10 ETH bid is mined first and they receive 10 ETH in $FVT. The second user’s bid is mined subsequently and they receive 3 ETH in $FVT and 7 ETH is returned to their wallet. The lot is sold out and price doubles to $0.04.
The second bidder get’s a partial fill, with the unfilled ETH returned to their wallet
  • Lot 3 (2m $FVT @ $0.04) sells out in a series of successive bids of varying size in ETH
  • Lot 4 (4m @ $0.08) receives some bids at opening price, but not enough to clear the lot. The price then decays block by block. Bids occur at $0.07 and $0.06, where the lot closes and the price doubles from $0.06 to $0.12.
  • This cycle iterates until the tokens in lot 6 are sold completely.
  • The collected ETH is paired with an equivalent $FVT balance at a listing price determined by the average price of sale throughout auction.
  • The uniswap LP tokens are locked in a vesting contract for a minimum of 1 year.
The front end

What will be the listing price?

Wealth distribution

If you’re holding a crypto auction, you want some whales in the room.

Perceived value

Number of Players

How do I play?

Can I try it out beforehand?

What is the future of



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