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Skale Holland shoot, you must understand the technology and Gas war

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The auction will begin at 0 a.m. on August 18, with token auction prices ranging from $0.0169 to $0.0350.

Original title: "Feast of Science +GAS WAR: Tonight's Skale Dutch auction, Here's what You Need to Know"

Original text by: & NBSP; The bear has PLUS

According to scrip publishing platform, according to Activate the elastic block chain network SKALE (SKL) will at 12:00 PM eastern time on August 17th (Beijing time on August 18, zero) start the tokens, public offering, the sales will adopt the Netherlands pattern, the Dutch auction is based on the demand, this means that once A) satisfy demand for the supply of available tokens (that is, the auction tokens, sold out) or B) 3 days of the auction period expires, the auction will be ended.

Auction duration: 3 days (Beijing Time on August 18, 00:00)

Auction prices for tokens: $0.0169 - $0.0350

Total scrip available for auction: 125 million SKL (3% of total scrip)

Total initial issuance of scrip: 4.14 billion, expected to release 9.3% of scrip annually.

The SKALE network is designed specifically to improve the user experience of dApps, helping to increase speed, significantly reduce costs, and create seamless workflows for end users and developers. SKALE USES proof-of-use, a new built-in activation mechanism that asks users to pledge tokens to help secure and extend the protocol. Therefore, users need to pledge 90 days and pledge at least 50% of the proceeds of the auction (distribution) before they can transfer the tokens, in order to prevent speculation.

Participating Address:https://activate.codefi.network/

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One, unlike an auction like a snap - up
(1) Some details about the auction
(2) The essence is panic buying
Two, the chances
3. Preparation
(1) Hardware preparation
(2) Flow chart

One, unlike an auction like a snap - up

(1) Some details about the auction

Start by checking Activate for an example of the auction process.

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The first step is to check the price

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The second step is to participate in the auction

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The third step is to transfer the coin

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Different from previous Dutch auctions like Algo, Skale auctions generally have the following aspects:

First, Skale is auctioned on the chain and requires GAS;

Second, actually cannot "bid", cannot choose the price, can only choose the investment amount according to the current SKL price;

Thirdly, the final determination of price and quantity conforms to the "Dutch auction" rule, that is, the final price of all successful participants is the same, and SKL ends when the SKL is sold out or reaches the low price.

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(2) The essence is panic buying

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Through the above analysis, coupled with the Near buying boom.

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Skale "Dutch Auction" is essentially the same as PLT, which is curve auction, "Feast of Science" + "Gas WAR".

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The difference with PLT is that the Skale final price is the same and the price gradually decreases rather than increases.

It means:

First, over time, the SKL price dropped from 0035 to 00169.

Second, during this period, give the amount of money you are willing to invest, and calculate the amount of SKL you get based on the price at which you bid.

Third, the investment amount is transferred to the SKL contract address, so GAS is needed.

Fourth, during this period, the auction ends when the total SKL received by all parties exceeds 12.5 billion;

Fifth, the total amount of the owners ÷ 12.5 billion SKL=SKL final price.

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Two, the chances

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