> For the complete documentation index, see [llms.txt](https://tagprotocol.gitbook.io/tagprotocol/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://tagprotocol.gitbook.io/tagprotocol/features/step5-hashtag-marketplace.md).

# HASHTAG AUCTIONS

Hashtag Auctions allows users to trade their hashtags with each other. The value of trade is decided by the users themselves. 

#### **Key features of Hashtag Auction are**

* Hashtag Listing
* Hashtag Bidding
* Trade Settlement

#### Hashtag Listing

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.

#### Hashtag Bidding

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.

**Trade Settlement**

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.