🤳Auctions

Inuko Finance utilizes the Sequential Dutch Auction whereby the price starts high and is lowered (decays) until it gets a bid. The first bid made is the "winning" bid and results in a "sale" i.e. the bond is sold. The auction then starts again and the starting price is set higher compared to the previous "winning" bid price and decays linearly until a bid is made. The process continues until it hits the bounds of the auction.