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Day4 moving on
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jgcrossman2 committed Jul 8, 2024
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52 changes: 42 additions & 10 deletions VexGame.html
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<div id="vexgame_hype_container" class="HYPE_document" style="margin:auto;position:relative;width:812px;height:375px;overflow:hidden;">
<script type="text/javascript" charset="utf-8" src="VexGame.hyperesources/vexgame_hype_generated_script.js?97260"></script>
<script type="text/javascript" charset="utf-8" src="VexGame.hyperesources/vexgame_hype_generated_script.js?3600"></script>
</div>

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<div>10,000 @ $1.02</div>
<div>10,000 @ $1.03</div>
<div>2,000 @ $1.00</div>
<div>5,000 @ $1.01</div>
<div>Seems like we have a few early bidders participating. Since you think the $100m valuation might have been a bit low, you might want to get in at a higher level.
</div>
<div>5,000 @ $1.01</div>
<div>5,000 @ $1.00</div>
<div>10,000 @ $1.00</div>
<div>$1.03</div>
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<div>0.248%</div>
<div>0.258%</div>
<div>0.268%</div>
<div>Who? What? Where? Why?
</div>
<div>OK, let’s move on to the good stuff
</div>
<div>Who are we: Vex Securities - FINRA regulated Broker Dealer
Vex Registry - SEC regulated Transfer Agent
Vex Capital - Exempt Private Fund Advisor
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Why Auctions: 
Auctions determine our bid price. If the auction raises $1m or more, we will find sellers. If it does not, we will assume that there isn’t interest in the target company.
</div>
<div>OK, let’s move on to the good stuff
</div>
<div>Who? What? Where? Why?
</div>
<div>Now that you have attached your wallet, we are ready to submit our bid. You are the first but others may join. If there is enough interest (at least $1m), the SPV will go hunting.
</div>
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</div>
<div>You can find your position at Vex Registry LLC which has been appointed by Vex Capital LLC as the Transfer Agent. From there, you can see your units and any balances for current auctions.</div>
<div>We will go there later. You could also view the auction which will no longer be active but you can see how the bidding unfolded and go back into the history of the action.</div>
<div>20,000 @ $1.03
<div>20,000 @ $1.05

</div>
<div>As Day 3 starts, it looks like the auction will fill out soon. Notice that bids at $1.00 have dried up. You actually have a bid at $1.00 that is close to the top of that stack (yellow).
</div>
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<div>20,000 @ $1.02
</div>
<div>20,000 @ $1.04
</div>
<div>20,000 @ $1.05

</div>
<div>20,000 @ $1.02

</div>
<div>20,000 @ $1.03
</div>
<div>On Day 2, you will notice that despite all the bids at higher levels, the clearing price of this auction is still $1.00, implying a valuation of $100m for LexCorp.
</div>
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</div>
<div>As Day 4 starts, you think that it might be time to pay attention to that 20k you have bid at $1.03. It is not in trouble just yet. But the bids are getting larger...
</div>
<div>We have a choice of letting the 20k bid at 1.03 expire and rebidding or we can just increase it to $1.10 like the other two. The upgrades and the new bids will compete equally for position.</div>
<div>Day 4
</div>
<div>Day 4</div>
<div>We'll start at the top.</div>
<div>Our ticket is loaded. We are just changing the bid price. We could change the amount, but not this time.
</div>
<div>$11,000</div>
<div>$11,000.00
</div>
<div>$110m
</div>
<div>Click "Increase Bid" to go to the Bidding Ticket.</div>
<div>10,000 @ 1.10</div>
<div>Our ticket is loaded. Let’s change the bid price. Of course, our wallet is attached so we will be asked to approve the extra 500 USDC for the bid on the wallet side.
</div>
<div>Our ticket is loaded. But notice there is no “Submit Bid” button. That's because the clearing price is already $1.03. The lowest we can bid now is $1.04. But we are going for 1.10.
</div>
<div>$22,000.00
</div>
<div>$22,000</div>
<div>Let's go back to the market. Click the LexCorp SPV link.</div>
<div>20,000 @ 1.10</div>
<div>The bids have remained in the same order since we started from the top. If we had done them in a different order, their priority would have shifted accordingly.</div>
<div>The bids move to their new position at the 1.10 bid line. For a moment, the clearing price remains at 1.03.
</div>
<div>$1.11</div>
<div>But the next bid pushes the clearing price to 1.04.
</div>
<div>10,000 @ $1.10</div>
<div>$104m
</div>

</div>

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