So essentially the price could spike just before the bidding

Question

Injective

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So essentially the price could spike just before the bidding

is over and you could then be paying more than the fees your are receiving back?

#cryptocurrency #english #injective

0

23.11.2021

6 ответов

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. Автор вопроса

Yes, I’m fully aware of how bidding works. My point is the fluctuation in the price. So you could be paying more than the fees you are receiving if it is based on the amount of tokens and it not following the price. Not sure if this is possible but as a suggestion could the winning bid not still be paid in INJ but the bid you make is in £/$. So you commit to a bid of £19k, again as the example, for £20k in fees but the amount of tokens you pay is only calculated at the very end of the auction based on the price at the time of you receiving your fees back in £/$

0

23.11.2021

Varun Singhal

Considering that the bid cannot be taken back unless a higher bid is made and also considering INJ price fluctuation, a lot of bids would potentially come towards the end of the bidding period. The initial bids would be at a significant discount to the actual fees since the bidder would want to insulate against the risk of INJ price volatility

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23.11.2021

Varun Singhal

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Yes, I’m fully aware of how bidding works. My poin...

No the bid would be made for the fees but in terms of INJ. The INJ for the winning bid would be automatically burnt by the protocol

0

23.11.2021

. Автор вопроса

Varun Singhal
Considering that the bid cannot be taken back unle...

So will be like eBay when you everyone waits until the dying seconds to get their bids in 🤣

0

23.11.2021