# kaal:claim:4015908-042

**Claim.** 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.

**Type.** mechanism  **Support.** argued

**Holds when.**

- lottery based fair launch protocol

**Source quote.**

> price of a ticket is determined as the median of all tickets purchased – users then decide whether they accept the price.

**From.** Wulf A. Kaal, *Fair Token Launch* (2022), IV.4 Lottery, page 18

**Cite as.** Wulf A. Kaal, Fair Token Launch (2022). SSRN: https://ssrn.com/abstract=4015908

**Verify.** sha256 of source PDF `e0925afde0c42a16cd5310983789fae3eb3d1f121e2954a72afa64191d00fe37` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202022%20-%20Fair%20Token%20Launch.pdf

**Topics.** economics

**Keywords.** lottery, median-pricing, price-setting, nft, fair-launch

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