Prop#10: Tranche 3 - Auctions & Price Discovery

Prop#10: Tranche 3 - Auctions & Price Discovery Authors: @simonsays, @dropnerd, @clark peters, @khannft, @VIRMEH21

Goals:

• Understand what price the market will bear by experimenting, while introducing minimal dilution
• Provide info to help decide whether or not to open a future tranche, and if so, how to price that tranche

Mechanics:

• Tranche: Publicly auction 15 Grailers on OpenSea

• Reserve price: 1.25 ETH

• Timing: 5 Grailers per day. Sales will initially be scheduled for Sat 11/13, Sun 11/14, Mon 11/15. Discretion given to multisig about auction length. Proposers recommend around 23 hours

• Gives discretion to multisig to select another auction platform.

• Gives discretion to multisig to increase or decrease reserve price, but the reserve price must remain at or above 1.25 ETH.

• Gives discretion to multisig to stop or postpone the auctions.

• Makes no changes to the public sale on Fri 2021/11/12