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RE: How to get $1 for each of your Steem
questions from the 1st bidder ... :)
- say if this round 1 closes at $5000. then how much is round 2 's starting bid?
- what will happen if no one bids in one of the future rounds (as the price getting higher and higher is assumed)?
Careful to not confuse rounds and batches.
Each round is comprised of several batches and we are currently in round 1 batch 1.
If today's batch closes at $5000 for 100 VIVA Crowns then round 1, batch 2 will have a minimum bid of $5,001 for 90 VIVA Crowns.
That's the point of price discovery. So if any batch during round 1 does not increase day over day then we will have discovered the price and that will be the end of round 1.
When round 1 ends, then round 2 begins. Round 2 is completely different. Round 2's floor price will be 2x the highest per coin price from round 1.
Round 2 will be private placement with sealed bids and will be offered outside steemit and outside the crypto community, hence the dollar pricing.
Any unsold round 2 coins will be removed and won't be entering circulation.
I should take this time to mention that we allow existing holders the right of first sale in each round. So if you buy now and decide to sell during round 2, your coins will sell before the coins reserved for round 2 do.
thank you for this detailed and clear answer. much appreciated.
You are very welcome!