- BGT+30Positive
Infrared (@InfraredFinance)
Increasing Dutch Auction frequency for faster capital rotation Today, March 24 at 12:00 UTC, we moved the Infrared Cutting Board Dutch Auction from once per week to three times per week. Auctions will take place on Tuesdays, Fridays, and Sundays, all at the same time of day. We've also reduced ownership duration from two weeks to one week. These changes were made based on feedback from our community and partners. This post covers what we're changing, how it affects you, and what the new schedule looks like. What the Dutch Auction does The Cutting Board Dutch Auction is how we allocate validator emissions. Participants bid IR tokens to win a validator slot for a fixed period. The auction uses a Dutch format, meaning the price starts high and decreases over time until someone bids. The winning bidder gets control of a validator's cutting board, which determines where that validator directs BGT emissions. If you've participated in previous auctions, the core mechanics are the same, and only the frequency and duration are changing. What we’re changing Two things are different starting today: We've increased auction frequency from once per week to three times. The previous schedule had a single auction on Fridays. We've added Tuesday and Sunday auctions, and all three run at the same time of day. We've reduced validator allocation duration from two weeks to one week. When you win an auction, you now control the cutting board for seven days instead of fourteen. This is already reflected onchain. And just to reiterate, the format, bidding mechanics, and settlement process are unchanged. How this affects you Shorter allocation windows mean less exposure to price movement between the time you bid and the time your allocation expires. Under the old schedule, you had to hold positions across IR and BERA for a full two-week cycle. Frequent auctions also mean more entry points, so if you miss a Tuesday auction or the clearing price is higher than you want, the next opportunity is three days away on Friday rather than a full week out. Capital will be able to rotate faster rather than sitting around for the next auction cycle. If you're managing cutting board allocations, the cadence of decision-making will also increase. You'll need to evaluate your emission strategy weekly instead of biweekly. Notably, the smart contract interface and the auction contract address hasn't changed. The only parameter we changed onchain is the allocation duration, which is now readable from the contract at 0x50ab64a24268b79dd10dab18c59afef256e6dc84 on Berascan. If you have automated bidding infrastructure, make sure your scheduling logic accounts for the new Tuesday and Sunday auction windows. Where to participate Our auction page reflects the updated schedule and the first auction under this new cadence is live. Details on the full auction flow, including where to bid, claim your NFT, manage your cutting board, and handle the end-of-period transition, is available here.