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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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58319001 No.58319001 [Reply] [Original]

I’m starting to feel a burn coming. What are the business and financial implications of this?

>> No.58319012
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58319012

>>58319001

>> No.58319048

U should buy SQUID

>> No.58319078

Hail helia

>> No.58319080

>>58319048
Squid? That'll be calamari in the sun, chud.

>> No.58319095
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58319095

>> No.58319114

>>58319001
Post ca and tg

>> No.58319122

>>58319114
keep this to yourself, I'm trying to accumulate
0x9b9f5604Eb8Ab3A1160029B6F05553E994398218
risecoin_io

>> No.58319162
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58319162

>> No.58319183
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58319183

>>58319001
such a comfy vibe

>> No.58319693

>>58319122
>under 200 holders
no thanks

>> No.58319976

>>58319080
Wagmi and eat calamari in the sun frens

>> No.58320082

What’s up with the auction? Can someone explain what that means/is

>> No.58320305

>>58320082
What are they?
Inferno Auctions are weekly distribution events that allow people to bid ETH on fresh RISE tokens. Each Inferno Auction has less RISE available than the last.

These Inferno Auctions run once per week, from Sunday 07:00 AM UTC to Monday 07:00 AM UTC (24 hours), for a total of 124 weeks.

RISE will be distributed to winners using a custom-made algorithm. See below for more information and the source code.

Once an Inferno Auction ends, 100% of auction proceeds are used to buy-back and burn RISE from Uniswap, reducing the supply. In other words, the more money is spent in Inferno Auctions, the more RISE gets burnt!

How Do Inferno Auctions Work?
Unlike most auction designs, Inferno Auctions are engineered to support multiple winners.

Users enter their Max Bid (highest RISE price they’re willing to pay), and their Deposit (how much ETH they’re willing to spend).

The final RISE price is determined by the total value of all user deposits*, divided by the amount of RISE available in that auction, capped at 97% of the RISE price on Uniswap (i.e. a 3% discount) at the end of the auction (* excluding users with a Max Price lower than the Final Price).

>> No.58320379
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58320379

>>58320082
for a TL:DR:
>every Sunday RISE is auctioned
>100% of auction proceeds (ETH) is used to buy-back and burn RISE from Uniswap, creating a mega pump
>this results in a weekly hype cycle, bringing more people in each week

pic related, second auction is 15x bigger than the previous one and has 2x more bidders

read more here: https://medium.com/@risecoin_io/inferno-auctions-everything-you-need-to-know-dcc627894367