In lottery fair launch protocols the ticket price is determined as the median of all tickets purchased, and users then decide whether to accept that price, paying the difference if it exceeds their bid or withdrawing for a refund.
Source quote, verbatim
price of a ticket is determined as the median of all tickets purchased – users then decide whether they accept the price.
Wulf A. Kaal, Fair Token Launch (2022). SSRN: https://ssrn.com/abstract=4015908
Holds when
lottery based fair launch protocol
Classification
mechanismsupport: arguedeconomics
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