Quote from: resetoldaccount on November 23, 2017, 05:56:50 PM

The way the auction is setup, seems to encourage people to wait for others to go first to reduce the price. Do you have some further reading on the psychology that makes this an effective way to have an auction?

It is an update on the recently used Dutch auctions, where the closing price is applied to everybody in the Dutch auction, and settlement occurs after auction closes. Those auctions price below market, because there are some in a Dutch auction that would have paid more, if given the chance.

Metronome's descending price auction is instantly settled, giving everybody access to each price band, to buy (or not) as their market theory and needs dictate.

There is the incentive for an auction participant to wait and buy at a lower price, but a counter-incentive to ensure that you receive some tokens versus fewer/none.