⏱️DAO4ART Auction Rules
Pricing Rules of Minting NFT from a Canvas
For every DAO Recycle Block, initial Minting Price per Canvas will be 1 stop down from its highest in last DRB.
If a new NFT minted in the new DRB, the Minting Price goes up 1 stop per mint.
If no new NFT minted in the new DRB, the initial Minting Price continue to drop 1 stop in the next DRB, until reaching its Floor Price.
For instance, we set price at [0.01, 0.05, 0.1, 0.2, 0.4, 0.8, 1.0, 10], and the starting Floor Price will be 0.05, and Canvas created in the first DRB. The following all starts with this status.
Starting at Floor Price
After creating the Canvas in the first DRB, the Minting Price for the first NFT in the same DRB will be 0.05.
Same DRB, multiple minters mint in the same Canvas, Minting Price will double after each NFT mint.
After creating the Canvas in the first DRB, the Minting Price for the first NFT will be 0.05, the second 0.1, the third 0.2.
If Previous DRB had NFT minted, the following DRB will start Minting Price at last NFT Minting Price in the last DRB.
After creating the Canvas in the first DRB, 3 NFTs minted consecutively in the first DRB, with the third at price 0.2. Entering the second DRB, Minting Price for the first NFT will be 0.2, the second one 0.4.
No NFT minted in last DRB, Minting Price stops down.
a) After creating the Canvas in the first DRB, 3 NFTs minted consecutively in the first DRB, with the third at price 0.2. Entering the second DRB, No NFT minted. Entering the third DRB, Minting Price for the first NFT will be 0.1 (0.2/2), the second NFT 0.2.
b) After creating the Canvas in the first DRB, 3 NFTs minted consecutively in the first DRB, with the third at price 0.2. Entering the second DRB, No NFT minted. Entering the third DRB, still no mint. Entering the fourth DRB, the Minting Price for the first NFT will be 0.05.
When all Canvas reach the Floor Price, Minting Price for the first NFT continue to drop by 1 stop, and any mint later recovers all Canvas to Floor Price.
After creating the Canvas in the first DRB, No mint happened. Entering the second DRB, Minting for the first NFT (for all Canvas) will be 0.025 (0.05/2), second NFT (all Canvas) recovers to Minting Price 0.05 (to Floor Price).
After creating the Canvas in the first DRB, No mint happened. Entering the second DRB, Minting for the first NFT (for all Canvas) will be 0.025 (0.05/2). If the second DRB closes with this 0.025 mint, the Minting Price for the first NFT in the third DRB will be 0.05.
After creating the Canvas in the first DRB, No mint happened. Entering the second DRB, Minting for the first NFT (for all Canvas) will be 0.025 (0.05/2). If the second DRB closes with this 0.025 mint, and no mint in the third DRB, the Minting Price for the first NFT in the fourth DRB will be 0.025.
If Minting Price drop below DAO Floor Price, no more drop in the next DRB.
If all Canvas reach DAO Floor Price and no mint in all of them in the current DRB, when entering the next DRB, minting for the first NFT (for all Canvas) will be 0.025 (0.05/2, i.e. DAO Floor Price by half). If still no mint in the second DRB, minting for the first NFT (for all canvas) in the third DRB will still be 0.025 (0.05/2, i.e. DAO Floor Price by half), until one successful new NFT mint. Subsequently, minting for the second NFT recovers to 0.05 for all canvas (back to Floor Price).
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