Auction Details
Supply: 10% of AU (10,000,000 AU)
Date: August 12-15 (72 hours)
Starting time: 22:00 UTC August 12
Where: Axis Finance
Price: 0.0833 MNT per token minimum
Vest: 7 day cliff, 6-month linear
Ticket Size: 150 wMNT minimum
A New Era in Token Buying
The Salt Wars have ended, and Aurelius is proud to announce the first-ever Encrypted Marginal Price (EMP) Auction on Axis Finance! Ensuring a fair and efficient distribution of $AU tokens on Mantle is our top priority. The auction will run for three days, starting on Monday, August 12th, and concluding on Wednesday, August 14th.
In DeFi, gaining early access to new tokens can be both exciting and groundbreaking, however, traditional token launches often come with challenges like limited access, unfair pricing, and a lack of transparency. Origin’s Axis protocol introduces Encrypted Marginal Price (EMP) Auctions, which promise to transform token launches.
To incentivize telling your friends about your newest discovery, Axis has a smart contract-level referral program, linking auctions with bidders. It’s a decentralized marketing fee for anyone who promotes and drives traffic to the AU auction. Keep reading to find out how you can earn a 5% share of funds successfully committed through your unique code.
The Token Launch Trilemma
Aurelius is aiming for a successful token launch based on balancing three critical elements:- Accessibility: Ensuring all interested buyers have equal opportunity. This means creating a system that is open and fair, allowing as many people as possible to take part.
- Participation: Encouraging fair and active community involvement is essential. This involves not only attracting a broad base of participants but also ensuring that the process is transparent and that every participant feels their involvement is valued and impactful.
- Valuation: Achieving a fair market price for the tokens is crucial. This means setting a price that reflects the true value of the tokens, avoiding the pitfalls of underpricing or overpricing, which can lead to market instability and dissatisfaction among participants.
Why an EMP auction?
True price discovery.
EMP Auctions are ‘sealed-bid’ auctions that allocate tokens to the highest bidders, with the clearing price set by the last successful bid. With 10% of the supply up for grabs, it’s a prime chance to secure future voting power at your price.
The EMP Auction ensures all participants have an equal opportunity to acquire tokens, levelling the playing field and making it more inclusive for everyone, regardless of their background or previous experience in token auctions.
Privacy and Encryption
Private, encrypted bids mean true price discovery. Bid without sniping fears and win tokens at a fair price through the auction’s settlement process.
The auction keeps all bids private through encryption until the auction concludes. This feature is crucial as it prevents any potential manipulation or unfair advantage by concealing the bids from all participants until the final moment. It allows the market to determine the true value of $AU tokens without the distortions typically caused by last-minute bidding wars.
Marginal Price
The EMP Auction is Axis’s flagship feature, designed for buyers. EMP Auctions eliminate the timing game. Unlike traditional LBP launches where timing is key for the best price, EMP Auctions ensure all winning bids placed before the auction closes are cleared at a uniform price.
Any bids below the minimum will be refunded. To increase your chances of winning bids, consider placing multiple bids at different levels. Any over-bids will be adjusted to the minimum acceptable bid once the sale concludes which protects buyers targeting higher valuations.
In this auction model, the winning bidders are required to pay the price of the last accepted bid. This mechanism ensures fairness, as it avoids situations where winners pay significantly more than other successful bidders, maintaining an equitable pricing structure.
Referrals
Axis has a smart contract-level referral program, linking auctions with bidders. It’s a decentralized marketing fee for anyone who promotes and drives traffic to the AU auction.
With a referral bonus of 5%, the more winning bids or total auction value directed through your links, the more you earn.
Here’s how to create your own referral code, as per the Axis Docs:
- Connect your wallet or add your address to the Address field. This the address that will receive your fees.
- OPTIONAL – Specify an auction, which will create a direct link to it.
- Press Generate and Copy to copy the link to your clipboard. You should also see the link that includes your referral code.
Note: You will still collect fees from other launches if you generate a direct link. The referral code is applied to all launches. Refer to the Axis Docs for more information on Referrals
The EMP Auction Lifecycle
- Setup: Details are configured and announced, allowing ample preparation time.
- Bid Submission: Submit encrypted bids, specifying desired amount and maximum price.
- Settlement: Bids are decrypted and sorted post-auction, with tokens allocated based on the marginal price.
- Claiming Tokens: After the sale concludes and the cliff expires, easily claim tokens if won, or receive a refund if not. Return to the website periodically.
How to Bid
As per the Axis Docs:
- Head to axis.finance and click Launch App in the top-right hand corner.
- Connect your wallet by clicking Connect in the top-right hand corner.
- Click on the live Aurelius AU EMP Auction (when ready) to view the token launch information
- Navigate to the Place your Bid section on the right
- Enter the amount of tokens you wish to pay under Spend Amount.
- Enter the maximum amount of quote tokens you are willing to pay per base token in the Bid Price section. As an example, if the quote token is USDC and the base token is ABC, then a bid price of 50 means 50 USDC per ABC.
- The minimum amount of base tokens you will receive if your bid is successul is shown below the Bid Price. You will receive more if the auction clears at a lower price.
- You should now be able to approve the protocol to spend the configured amount and submit your bid. Note this will require 2 transactions. (Approval and Bidding)
For more information on how to bid, be sure to check out the Axis Docs.
How to Claim
As per the Axis Docs:
- After the auction ends, return to the auction page to check if your bid won. A settlement chart will provide more details.
- If your bid won, click the button to claim your tokens as they unlock through the vesting window.
- If your bid did not win, click the button to claim your refund.
For more information on how to bid, be sure to check out the Axis Docs.
Maximizing Your Chances
To increase the odds of securing tokens at a favorable price:- Bid Early: Placing your bid early in the auction process may provide an advantage, especially if multiple bids end up being at the same price. By getting your bid in first, you might secure a better position over those who bid later at the same amount.
- Place Multiple Bids: To increase your chances of winning, consider placing multiple bids at various price points. This strategy allows you to diversify your opportunities and potentially secure a win even if one of your bids is not successful.
- Stay Updated: It is crucial to keep yourself informed about any announcements and updates related to the auction. By staying updated, you can adjust your bidding strategy accordingly and respond to any new developments or changes in the auction rules or timeline.
Conclusion
Legion, this isn’t just another token launch. The Axis EMP system ensures everyone gets a fair shot at Aurelius history, with transparent and accurate pricing of the $AU token.
Bid with confidence thanks to the privacy and encryption features and help grow the legion through the decentralized referral program to secure your 5% split.
DYOR
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