Dutch Auctions
What is a Dutch Auction?
A Dutch auction starts at a higher price and gradually decreases over time until someone makes a purchase or the auction ends. Think of it as a countdown deal!
How does it work on Vision?
Dutch auctions on Vision follow a simple process: • Sellers set a starting (high) price and an ending (low) price • The price automatically decreases over the set duration • When a buyer commits to purchase, there's a 30-second commitment period • Once the commitment period ends, the sale is final at that price
Sellers Guide - How to set up Dutch Auctions
Watch Tutorial:
• You have a 5-minute window to edit your listing after creation • All prices are set in USD to avoid cryptocurrency volatility • If your name doesn't sell, you'll need to withdraw it back from our escrow • You can not cancel the auction • Make sure to set realistic price ranges based on market conditions
Buyers Guide - How to buy Dutch Auctions
Watch Tutorial:
Information for Buyers: • You can watch prices decrease in real-time • The 30-second commitment period prevents last-second sniping • You can monitor multiple auctions simultaneously
Dutch Auctions FAQ:
Q: How to update my auction?
A: The Edit window is only available for 5 mins after starting the auction - you'll see an "Update Auction" button during that time directly on the name page.
Q: My Name shows "in Custody" - what does that mean?
A: When you start an auction, your name is held in our secure escrow contract. During this time, you won't be able to list, transfer, or modify the name until the auction ends.
If the name doesn't sell, no worries! You can easily get it back with just one click using the "Withdraw" button on the name page.
Tutorial: https://youtu.be/E_p9QyxQ8JQ?t=115
Last updated