Asset Buyout

When can an NFT be bought out?

Until an NFT goes on Auction or is bought out, there is an ongoing vote by all token holders. This means at any time until then, token holders can change their vote. Votes held in the liquidity pool or listed for sale on an orderbook are abstained votes. The total vote result is calculated out of the percent of tokens that vote. Quorum is 1 vote. When voting, token holders vote for:
  1. 1.
    Whether or not to enable a buyout of the whole NFT
  2. 2.
    The minimum price at which it can be bought out
A Buyout is enabled when at least 51% of the token holders have voted "Yes" to enable the buyout. Once enabled, any user can start a 24 hour Auction for the NFT. The Auction starts at the Minimum Buyout Price, the median of all user votes for the Minimum Buyout Price.
Once an Auction has started, voting is disabled and the NFT will be bought out. However, if Buyout is enabled, but an auction hasn't started and the "Yes" vote drops below 51%, Buyout is disabled.
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