@toast, would you pls update/clarify what's Auction Specification you are going to implement when BTS DNS launch?
I actually translated the "DNS .p2p Auction Specification (
https://github.com/BitShares/bitshares_toolkit/wiki/DNS-.p2p-Auction-Specification)" the day before yesterday then I found there is some errors in the content then I notice it's an early June article then I went through this thread just now and found what I just introduced to Chinese community is really totally out of date......
I know Agent86's proposal and I know it might use another DLS and get implemented when BitAssets available.
So you may help me on below quesions:
D will be 0 and no 1) The initial required bid is 0.
2) Your required_bid is equal to (previous_bid + (R*(previous_bid - previous_required_bid))
3) When you place a bid, (D*(your_bid - previous_bid)) goes to dividends and (previous+bid + (1 - D)*(your_bid - previous_bid)) goes to previous bidder.
The initial required_bid will not be 0 and will decided by Delegates? So it will vary by different Delegates and how?
Will R still be 1 or a bit lower than 1 or very small like 0.1 or 0.2?
D is likely to be 1 and you will not have kickbacks when you are outbid, correct? The original bid you put will be returned to you totally or just a fraction of it (like 90% )?
What's the condition for a auction to be end? a specific time after it starts?(then how long?) A specific quantity of blocks produced after it starts(then how many?) or other condition set by Delegates or the sellor?
How renewal rate to be set?
And I think we will reserve top current famous domains for maximize system value by deliver/sell them to the related company in future, so what's the detailed plan? top 100? 1,000? 10,000?
Thanks.