Dutch auction
Last updated
Last updated
For a Dutch auction, the bidding starts from the highest set value and will decrease at a predetermined pace until it reaches the specified lower value. The price will not fall below the minimum amount set.
Note: public Dutch auctions (where there are no allowlists requirements applied) are subject to a 5% fee on total proceeds, paid by the creator. Private Dutch auctions are not subject to a 5% fee, just a mint fee.
Dutch auctions are available for all collection types.
On the mint details section of the collection creation flow, select "Dutch auction". Then, input the list of decreasing prices and the cadence at which the token price will drop.
Auction rebates are available for public Dutch auctions, but not private Dutch auctions. This means that if your Dutch auction has a gate, it is not eligible for rebates.
For public Dutch auctions with rebates, those rebates can be claimed from the mint page after either the final resting price is reached or the full collection sells out.
Auctions can be gated. This means that only those who meet the gate requirements can bid or purchase the token.
Gates can be created in two places. They can be created in the collection creation flow prior to collection deployment or after deployment on the token management page.
As a reminder, gated Dutch auctions will not be subject to a 5% fee. Rather, the collector will pay the Highlight mint fee.
Edit auction
To edit your auction, select the "Edit auction" button on the token management page. This will allow you to update the reserve price, the start and stop date of the auction, and any gates that are applied. Note that if the auction has a bid on it, you will not be able to change the start or end date.
