For Sale Pricethen authorize the required
Network Feestream, and
Depositto claim the parcel. The transaction must be successfully signed and paid for (including gas fees) through the user's Web3 wallet for the claim to become a valid Geo Web parcel.
For Sale Priceat any time. This transaction impacts the parcel's
Network Feestream rate and required
For Sale Priceof a parcel, the landholder should navigate to their parcel, click Edit Parcel, enter a new value for
For Sale Price, and sign the transaction via their Web3 wallet.
For Sale Pricethat reflects their valuation of the parcel. Executing this transaction included pre-authorizing the required
Network Feestream and depositing their bid collateral and
For Sale Priceand the asset is transferred.
For Sale Pricegreater or equal to the incoming bid and paying a penalty equal to 10% of the bid within 7 days of receipt. A licensor can do this by navigating to the parcel, scrolling down in the left panel, clicking Reject Bid, then entering and submitting the required fields.
Network Feestream while there is an outstanding bid, the parcel moves to a Ready to Transfer state. The licensor, bidder, or any other market participant can affect the transfer by navigating to the parcel and clicking Trigger Transfer. The licensor will receive their
For Sale Pricepayment plus or minus their surplus/deficit for
Network Fees(the licensor retains the responsibility to pay the required
Network Feesuntil the parcel is transferred regardless of circumstances). The bidder will receive the land parcel and their returnable collateral.
Network Feesaren't paid (i.e. the landholder's ETHx balance reaches 0 or they cancel/lower the stream value), it goes into a Dutch auction. The auction price decreases linearly (every second) from the previous
For Sale Priceto zero over a two-week period. This helps ensure open and efficient price discovery. When a parcel reaches the end of the auction period and has not been claimed, it simply remains free to claim (excluding transaction costs).
For Sale Priceand restart a corresponding
Network Feestream. The landholder regains full rights to the parcel as long as this is done before someone else makes a successful auction claim.