Hashtag Auctions allows users to trade their hashtags with each other. The value of trade is decided by the users themselves.
- Hashtag Listing
- Hashtag Bidding
- Trade Settlement
To auction hashtags users have to list their hashtags on a public hashtag listing. System allows for two types of listing
- 1.Pre-defined Listing - Traders can set a default price at which they wish to sell their hashtag. In this case their hashtag will be sold if another users accepts that price.
- 2.Open Listing - Traders can also list hashtag without defining a listing price. In this case other traders can send their bids if they are interested in your hashtag. Trader can both accept or ignore bids received on their listing.
Bidding system allows hashtag traders to send and receive bids on each others listed hashtags. The bidding system has 4 main transaction types Bid, Buy, Ask, Sell.
- 1.Bid - Allows buyers to place a bid on a sellers listed hashtag. It is up to the seller to either accept or reject your bid.
- 2.Buy - Allows buyers to purchase a hashtag instantly in case seller has predefined price of a hashtag he wishes to sell.
- 3.Ask - Allows seller to pre-set price of a hashtag he wishes to list. In case a buyer accepts your price the trade will be instantly settled.
- 4.Sell - Allows sellers to pre-define price of hashtag they wish to sell. In this instance the buyer can make an instant purchase of sellers hashtag.
This system acts as an escrow service for hashtag traders. It will take possession of both hashtags as well as Tokens traders use to make a listing or place a bid. Upon completion of a trade it will swap asset ownership between two traders wallets automatically.