Hello everyone!
I'm Xian from the
DigitalNote (XDN) Foundation. Over the course of our recent
fundraising campaign we have accumulated 50M XDN, which we are now converting into BTC for further use via auctioning them off here at the forum. We have already sold 32M XDN and now are launching an auction for the last 18M.
We have received multiple suggestions from several people, including one of the XDN devs
dNote, who have said that we should decrease the size of the lots to enable more people to participate in the auction, so now we'll allow you all to personally determine what share of the stake you wish to buy. Here are the terms of the auction:
1. We are auctioning off 18 million XDN. The auction starts at 9 AM UTC on Monday, July 13th.
2. The starting price is 90 satoshi per 1 XDN. The size of the stake you want to buy is determined by yourself in the same post where you make your bid, for example: "2M XDN @ 95 sat".
There are limits: the stake has to remain
between 1M and 5M XDN
per person.
3. To prevent suspicious/fraudulent attempts at price manipulation, it is mandatory for all participants to register before making their bids. To register for the auction you have to:
- Deposit 0.1 BTC to the Foundation's official BTC wallet: 126HUywBNBzJB68FawtnZ9aq9Y2CwXMu8J. All deposits will be returned to their owners in full, upon the end of the auction.
- PM me with a link to the transaction with your deposit and express your intention to take part in the auction.
Users don't have to register in advance: you're free to register and make bids at any time until the end of the auction. All bids that were made without registering with me will be considered invalid.
4. After the auction starts on Monday, everyone who has registered are free to make their bids here, in this thread. The auction will last for 4.5 days until 4 PM UTC (or 12 noon EDT) July 17th, upon which moment the lots of different sizes will be transferred to their respective bidders at their bid prices. The
bids with highest prices will be served first until there are no more XDN left to hand out.
Thank you for your attention and let's start.