Auctions

Auctions are the backbone of the SilverSwap ecosystem, allowing users to become the DEX

Auctions allow for users to, in many ways, become SilverSwap themselves. The unique set of features give more power to users than any other DEX by letting Auction participants to choose how SilverSwap fees are utilized in meaningful ways that directly and positively impact the financial experience of the user. Auctions operate on 12-hour cycles. Users bid their $AG in increments starting at 0.1 $AG and above. To be an Auction participant, users must have any amount of liquidity deployed on SilverSwap.

Snatch:

Snatch allows users to directly earn 42.5% of the DEX fees earned from individual liquidity pools on SilverSwap. Snatch Example: Bob bids and wins the Snatch for pool $X/$Y that has earned $12,000 worth of fees in 12 hours - Bob wins this auction and earns 42.5% of those fees, equal to $5,100 paid out in $AG Auction participants may bid and win on as many Snatch events as they would like in the 12-hour Auction period.

Flare:

Flare allows users to directly utilize 42% of all SilverSwap DEX fees into an automated buyback on a token of the user's choosing Flare example: Alice bids and wins the Flare auction. global DEX fees earned are $71,000 in 12 hours -- Alice gets to initiate a buyback worth $30,175 on the chosen token. Auction participants may bid and win only one Flare event in the 12-hour auction period, as only one Flare may occur every 12 hours.