From cd629688947d390664177ba50a2b8d125d10afe9 Mon Sep 17 00:00:00 2001 From: ryley-o <30364988+ryley-o@users.noreply.github.com> Date: Mon, 12 Feb 2024 14:52:29 -0800 Subject: [PATCH] add SEA to minter docs --- minter-suite/minting-philosophy.md | 2 +- minter-suite/shared-minter-suite.md | 14 ++++++++++++++ 2 files changed, 15 insertions(+), 1 deletion(-) diff --git a/minter-suite/minting-philosophy.md b/minter-suite/minting-philosophy.md index ed4ec20c..a816c742 100644 --- a/minter-suite/minting-philosophy.md +++ b/minter-suite/minting-philosophy.md @@ -109,7 +109,7 @@ The minter suite is a collection of smart contracts that aim to provide differen The shared minter suite is used by Art Blocks, and is also available for use with Art Blocks Engine contracts (V3 only). -More details will be added regarding the shared minter suite in the future, but for now, please see the [Minter Suite](https://docs.artblocks.io/creator-docs/creator-onboarding/readme/minter-suite/) page for an overview of all available flagship minters at this time. +More details will be added regarding the shared minter suite in the future, but for now, please see the [Shared Minter Suite](./shared-minter-suite) page for an overview of all available flagship minters at this time. ## Lessons Learned diff --git a/minter-suite/shared-minter-suite.md b/minter-suite/shared-minter-suite.md index 62425744..5cb3d221 100644 --- a/minter-suite/shared-minter-suite.md +++ b/minter-suite/shared-minter-suite.md @@ -88,6 +88,20 @@ Artists may use the artist dashboard to pre-select a list of allowlisted Art Blo Note that vault delegation via [Delegate Cash](https://delegate.cash/) is available for the Token Holders Only minter. Only V1 of the delegation registry is supported at this time. For more details please visit this [video walkthrough](https://www.youtube.com/watch?v=2-AgG--zcaw&list=PLSNTJAzmISeZcLm19EhafsGjJXwwgzBbU&index=5). !!! +### `Serial English Auction (SEA)` + +The Serial English Auction (SEA) minter allows for a series of English auctions for individual tokens to be run in sequence. The minter was originally inspired by the popular [nouns.wtf](https://nouns.wtf/) project, and was implemented with minor adjustments to provide a seamless experience for Art Blocks artists and collectors. + +Artists may configure future token auction parameters, such as starting auction price and minimum auction length. Collectors may then kick off token auctions by submitting a bid for a pre-minted token. Once an auction begins, any wallet may submit a higher bid for the token up for sale. Losing bids are refunded automatically when outbid. If a bid is submitted near the end of an auction, the auction is extended such that a human is able to submit a higher bid, ensuring a human can fairly compete against a bot. + +Once an auction is complete, another token auction may be started by any collector submitting a bid for the next token, while also sending the previous auction winner their token. + +The minter pre-mints tokens before their auction, so bids are placed on an already-existing token, not on hypothetical tokens. + +The minter may be used for any project, and is certainly ideal for projects that have a series of tokens that are released in a sequence. It may also be used to auction off a 1:1 token. The minter is also ideal for projects that have a strong community, as it allows for community members to participate in the auction process over a long period of time, carefully considering each generative output. + +Bids and auction parameters are stored on-chain, and the Art Blocks subgraph and API index all historical bids in [`bids_metadata`](https://docs.artblocks.io/public-api-docs/#definition-bids_metadata) as well as auction parameters in [`project_minter_configurations`](https://docs.artblocks.io/public-api-docs/#definition-project_minter_configurations). + ### `Set Price, Polyptych` This minter enables the artist to mint tokens with identical token hashes. This is useful for projects that are intended to be displayed as a polyptych.