Skip to content

Home

Jump to bottom
dc edited this page Sep 12, 2018 · 27 revisions

Auctions

There are three auction types in the dai system, the collateral auction (flip-auction), the debt auction (flop-auction) and the surplus auction (flap-auction).

Flap

Flap is the simplest of the auctions, where surplus Dai is sold for MKR. Bidders complete for lot amount of Dai for increasing bid amounts of MKR.

Flap

If you have any questions regarding the Maker Protocol, please reach out to us on the #dev channel in chat.makerdao.com.

Clone this wiki locally