News | Tesla Finance
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News | Tesla Finance
@AnnaInstitute
Leading news and interesting insights only here. News of Tesla Finance.
Katılım Haziran 2021
226 Takip Edilen11.6K Takipçiler

Build a gaming PC. Mine a little bitcoin. Decide to go all in.
From BaseLayer Episode 001: @wagmiAlexander of @AerodromeFi
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The $AZTEC token sale is live.
An onchain, community-owned sale where you set the terms.
No airdrops. No mysterious allocations.
sale.aztec.network
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$AZTEC token sale all details 👇
- total supply : 10.35B
- total token for sale : 1.547B (14.95% of the total supply)
- sale format : CCA
WHAT IS CCA ?
- well to understand this , check the below example :
In the open auction, there is 4 different time period, u can say these as epoch as well. In each epoch, different amount of token will be allocated for bidding on different price depending on the market demand.
According to the FAQ, there will be 4 epochs in total and in each epoch, there are multiple periods :
- Epoch 1 = 53,680.9 tokens per periods
- Epoch 2 = 0 tokens per periods
- Epoch 3 = 21,348.6 tokens per periods
- Final Epoch = 622,512,800 tokens in total
So, let's say there is total 3 bidders : A, B , C
1/ Period 1 of Epoch 1
In this period, the floor price of $AZTEC is set by Aztec itself which is ~$0.33, users can choose market clearing price or can set the price at which they want to buy
Now let's say -
A bids $20,000 and chooses market clearing price
B bids $5,000 and sets a max price of $0.6 per token
C bids $5,000 and sets max price of $0.4 per token
Period 1 calculation : Total money bidding in Period 1 = $20,000 + $5,000 + $5,000 = $30,000
Step 1 : Check clearing price using all bids
Clearing price = total dollars ÷ tokens available = 30,000 ÷ 53,680.9 = 0.5589 per token, this is the clearing price in this period
Check caps :
- A accepts market price so eligible
- B max is $0.60 so eligible
- C max is $0.40 which is below $0.5589 so not eligible
C must be removed from the demand set.
Step 2 : recompute clearing price with only eligible bidders
Eligible bids now :
- A : $20,000
- B : $5,000
Total Eligible dollars = $25,000
Check caps again :
- A is clearing market price so ok
- B max $0.60 is above $0.4657228 so ok
- C would be allowed only if price dropped to $0.40 or below which is not the case so C stays excluded
This price is now stable and valid. Final clearing price for Period 1 = $0.4657228, This is above the $0.33 floor so the floor does not affect this Period.
Step 3 : allocation of tokens
Allocation is always pro rata by dollars among eligible bidders at the uniform clearing price. Total eligible dollars = $25,000
▫️ A’s share
= [20,000 ÷ 25,000]
= 0.8
A will get total = 0.8 × 53,680.9 = 42,944.72 tokens
▫️ B’s share
= 5,000 ÷ 25,000
= 0.2
B will get total = 0.2 × 53,680.9 = 10,736.18 tokens
C will get his refund. The floor price for the next Period becomes the higher of :
either the initial floor set by Aztec which is $0.33 or the clearing price from Period 1 which is $0.4657228
between them which is higher become the floor price for the next round.
So the new floor price for the next Period is $0.4657228 per token.
WHAT IS LOCK UP CONDITION?
- Token purchased in this sale will be locked but the lock duration can follow two different cases.
1/ Case 1 : 3 month lock
After 3 months, only the participants of this sale can vote on whether to unlock the tokens. If the majority votes yes then the tokens unlock after 3 months.
2/ Case 2 : 12 month lock
If the majority votes no at the 3 month vote then the tokens stay locked and unlock after 12 months instead.
I just focussed on discussing the most confusing topic of this sale, if u want to participate or want to learn more, u can check here : sale.aztec.network

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"The future of media won’t just be about crypto. It will be built with it." - @laurashin's
@unchained_pod has a new home in Base App
Laura Shin@laurashin
When we first added onchain features at @Unchained_pod, it was an experiment. Could a crypto media brand use crypto rails, not just talk about them? Turns out, the answer is yes. Today, we’re taking the next step: Unchained is now live on Base, with our own mini-app inside the @baseapp (currently in beta). 🧵 Why we’re doing this: 1/8
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