An Improvement to the current Dutch Auction model.

TLDR

For more details, see the rest of the article.

• Kiwami’s Dutch Auction (”DA”) is an improvement to the traditional DA.
• Kiwami’s DA will begin Wednesday, March 23rd at 8pm EST.
• Pricing will begin at 0.5 ETH and end at 0.1 ETH, decreasing by 0.05 ETH every 3 minutes.
• Buyers are refunded the difference between their mint price and the final Resting Price.
• There is no penalty for paying a higher mint price than the final Resting Price.
• Buyers initiate the refund (if applicable) at an extremely low transaction cost.
• Buyers pay the mint price (at txn confirmation) vs. mint price at the time of initiating a txn.
• Mintlist sale (1 per wallet) will occur ≥24 hours after the public Dutch Auction.
• OG minting will occur >72 hours after the mintlist sale.
• You will be able to check your OG/WL status (not live yet) on our website prior to mint.
• Mintlist pricing will be the same as the final DA resting price.

Context

In a traditional Dutch Auction, the mint price of an NFT begins at an initial price (’Ceiling’) with the price lowering by a fixed amount on a periodic basis (e.g., 0.05 ETH every 3 minutes) down to the lowest price set (’Resting Price’).

Dutch Auctions are used in public mints to prevent gas wars.