One Price For Everyone Who Bid 💰
A sealed auction clears at one price for every winning bidder, which is the mechanism that stops the people who bid earliest from paying the most.
$JUP made buying into a new token on $SOL a matter of one swap, and that convenience is also the problem, because a queue of visible buys means the price moves as the queue grows and the last buyer pays for the enthusiasm of the first.
Sealed bidding works the other way. Everyone submits what they think it is worth, nobody reacts to anyone else, and the clearing price is what the market actually believed rather than what the queue produced.
Crafts runs that on Arcium as a sealed-bid launchpad. No bid is readable anywhere until the auction closes, not by the other bidders and not by whoever is running the sale, and the clearing price still comes out correct.
That price posts to Solana like any other transaction, so anyone can check what cleared and at what level once it is done.
Token launches have rewarded speed over judgement, and Arcium is what lets a Solana sale reward the judgement instead.
#altcoins #defi
A sealed auction clears at one price for every winning bidder, which is the mechanism that stops the people who bid earliest from paying the most.
$JUP made buying into a new token on $SOL a matter of one swap, and that convenience is also the problem, because a queue of visible buys means the price moves as the queue grows and the last buyer pays for the enthusiasm of the first.
Sealed bidding works the other way. Everyone submits what they think it is worth, nobody reacts to anyone else, and the clearing price is what the market actually believed rather than what the queue produced.
Crafts runs that on Arcium as a sealed-bid launchpad. No bid is readable anywhere until the auction closes, not by the other bidders and not by whoever is running the sale, and the clearing price still comes out correct.
That price posts to Solana like any other transaction, so anyone can check what cleared and at what level once it is done.
Token launches have rewarded speed over judgement, and Arcium is what lets a Solana sale reward the judgement instead.
#altcoins #defi
