Technical
Secondary Market
An explanation of the secondary market.
Secondary Market
The structure the secondary market so that a concentrated selling back is feasible
graph TD
subgraph "Secondary Market"
A[Primary Market Winner] --> B{Has Excess Capacity};
B -- Yes --> C[Offer on Secondary Market];
C --> D{Buyer Found};
D -- Yes --> E[Sell Capacity];
E --> F[Transfer of Rights];
B -- No --> G[Use Capacity];
end
style A fill:#c8e6c9,stroke:#333,stroke-width:2px;
style B fill:#fff9c4,stroke:#333,stroke-width:2px;
style C fill:#e1f5fe,stroke:#333,stroke-width:2px;
style D fill:#fff9c4,stroke:#333,stroke-width:2px;
style E fill:#f8bbd0,stroke:#333,stroke-width:2px;
style F fill:#e1f5fe,stroke:#333,stroke-width:2px;
style G fill:#c8e6c9,stroke:#333,stroke-width:2px;
The main purpose of this market is to account for information differences over time - builders might realize they cannot fill a block; or they might need more space The base fee is not known at the time of the primary market; so there should be updates regarding the base fee happening with before-strike-time blocks being minted. This also affects the initial pricing we offer.
Allocation subject to change
It is unclear what allocation we will have from the primary market, as a winner-takes all is possible