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Understanding Dynamic Pricing Mints on Magic Eden Launchpad
Understanding Dynamic Pricing Mints on Magic Eden Launchpad

Mint with Confidence as Prices Respond to Demand

Deckard avatar
Written by Deckard
Updated over a week ago

Dynamic Pricing Mints on Magic Eden Launchpad offer a unique feature that adjusts the prices of mints based on demand. In this article, we will explore how Dynamic Pricing Mints work and provide examples to help you understand the process better. Powered by Strata Protocol, this innovative approach ensures a fair and dynamic pricing experience for users.

How Do Dynamic Pricing Mints Work?

Dynamic Pricing Mints operate by constantly fluctuating the minting prices in response to demand. When Dynamic Pricing Mints go live, the initial price to mint is set, and it gradually decreases until someone initiates the minting process. As more individuals choose to mint, the prices rise accordingly. Conversely, if demand decreases, the prices drop once again to stimulate further interest. This dynamic movement of prices distinguishes this feature, aptly named "dynamic."

Example: Exploring Price Fluctuations

Let's examine a few practical examples to illustrate how Dynamic Pricing Mints operate. In the accompanying screenshot, the minting price initially starts at 0.24 SOL and gradually drops to approximately 0.10 SOL. Demand remains steady at 0.10 SOL for five days until the final moments, where it slightly increases to 0.11 SOL. This indicates that demand surged in the last minute, possibly due to multiple individuals waiting to mint simultaneously after a five-day period.

Timing Is Key: Price Changes and Your Minting Strategy

Due to the nature of dynamic pricing, the final minting prices can exceed the starting prices if demand significantly escalates towards the end of the minting period. Waiting too long to mint could result in higher costs. On the other hand, strategic timing can help you avoid the peak minting prices, as demonstrated in the following example.

Multi-Stage Pricing and Whitelist Presales

Dynamic Pricing Mints encompass multiple stages, each with its own dynamic pricing mechanism. For instance, the first stage, known as "Whitelist presale 1," concludes with an average price of 205.39 SOL, while the second stage, "Whitelist presale 2," currently stands at 394.17 SOL. The starting prices for each stage are determined by the collection.

Important Note: Consider Slippage

Please note that the prices displayed on the screen may differ slightly from the actual amounts you pay. A preconfigured slippage, which can be perceived as a tolerance margin, accounts for rapid price fluctuations during the time span between pressing "Mint" and finalizing the transaction. Consequently, the dynamic mint prices may have already experienced minor adjustments during this interval.

Learn More About Dynamic Pricing Mints

To gain a deeper understanding of the underlying technology and pricing curves employed in Dynamic Pricing Mints, we encourage you to read more about Strata Protocol's comprehensive explanation. This resource provides detailed insights into the intricacies of this innovative pricing mechanism.

We hope this article has provided you with a clear understanding of how Dynamic Pricing Mints function and how they may impact your minting strategy. If you have any further questions or require assistance, our support team is available to help.

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