Auctions are back on CoinList
![](https://blog.coinlist.co/content/images/2024/07/Auctions-are-back---Blog-1.png)
After 14 consecutive fixed price token launches to start 2024, we are excited to bring back a token launch mechanism designed to facilitate price discovery: Auctions on CoinList.
Auctions aren't new to CoinList. In 2020, we ran 3:
- Solana: closed at $0.22 per SOL
- Flow: closed at $0.38 per FLOW
- Celo: closed at $1 per CELO
Now, we are bringing them back bigger and better.
How auctions work on CoinList
A CoinList Auction is a silent auction featuring a single seller and multiple buyers who determine the final clearing price. This price is the highest price at which the entire allocation can be sold. All successful participants purchase tokens at this uniform price, collectively determining the price of the token through their bids.
During the auction, the seller sets a suggested initial price per token (e.g., $10), and participants can begin placing bids. Each bid specifies the number of tokens desired and the maximum price per token the participant is willing to pay.
All bids will show the chance of receiving an allocation as low, average, or high and will update as the auction progresses, allowing participants to gauge the pricing of their own bids in real-time. Participants may edit these bids at any time as price fluctuates throughout the auction period.
Once the auction closes, bids will be sorted from highest to lowest price per token. Bids are accepted in this order until either (a) the current demand meets or exceeds supply, or (b) the reserve price is met, finalizing the auction. The reserve price is the minimum acceptable amount the seller is willing to accept for bids.
The final price will be set at the lowest qualifying bid.
How to place a bid
- First, participants should ensure their CoinList accounts are KYC-approved and in good standing.
- Navigate to the auction flow.
- Participants enter the desired bid price per token.
- Participants enter the desired dollar amount of the token they wish to purchase.
- Review the potential number of tokens to be received at the desired price, and submit the bid.
- As the auction progresses, participants may submit multiple bids and update their bids as desired.
- At the end of the auction, the highest eligible bid made will be accepted, and the lower bids will be refunded back to the participant’s CoinList wallet. Bids not accepted before the auction clears will also be refunded back to CoinList wallets 48 hours after the end of the purchase period.
- Get notified of the results 48 hours after the auction closes.
Stay tuned for our first auction... coming very soon 😏
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