Auction.vote: How to take part in our incentivised test auction
EDIT: Our Incentivised Test Auction is over! We collected over 2.5k rETH and demonstrated some true price discovery. Follow our Telegram to find out more about how this played out and follow us for details into the run up to our TGE next week.
The TGE for the finance.vote token $FVT is due to take place next Wednesday midday, 18th November 2020.
Auction.vote is a decentralised price discovery mechanism for bootstrapping liquidity in digital asset markets.
All ETH collected will be used as liquidity in uniswap for the $FVT token.
The Incentivised Test Auction
In advance of our TGE we will be testing out the auction.vote mechanism in the wild.
The incentivised testnet auction will go live at block height 9048521, roughly midday UTC 11th November 2020, and it will provide the opportunity for the finance.vote users to earn a share of $1000 USDT by attempting to collect as much Ropsten testnet $FVT as possible. This pot will be shared amongst the top 5 Ropsten $FVT holders, when the auction sells out.
Here is how you can take part:
Get Some Ropsten ETH
Ropsten is an Ethereum test network. There are a number of test networks on Ethereum. They allow projects to test their smart contracts, without risking mainnet assets and allowing users to take part without incurring any gas fees.
We have deployed a version of auction.vote on the Ropsten testnet, so users can competitively bid for Ropsten $FVT using these free testnet tokens.
You can obtain some by doing the following:
- Install Metamask if you haven’t already done so.
- Switch your metamask to the Ropsten Testnet.
Accumulate Ropsten ETH
Ropsten ETH is free, but you have to obtain it from faucets. There was a time when real Bitcoin was given away for free from “faucets”, which are like crypto taps, dripping free assets to users.
Here is a list of Ropsten faucets that you can use to collect Ropsten ETH. Get as much as you can in advance of when we go live!
In each case you will need to enter your address and request some Ropsten ETH. All have some kind of limitation, so experiment with accumulation strategies.
Take Part in the Auction
In our mainnet auction users will be taking part with real ETH in exchange for real $FVT.
In our test auction your goal is to obtain as many Ropsten $FVT as possible.
You can access the auction which is hosted on IPFS at THIS LINK
The test auction will go live at block number 9048521, approximately midday UTC, 11th of November
Part of the game is to see if our UX and instructions on the site are clear enough. So take part, join our Telegram group, ask questions. Have fun!
Play the game or don’t, it’s up to you 🚀