Specification

1 Focal Auction per Day:

This is an auction where committed market makers are expected to provide liquidity for transparent point incentives and protocol commits that at least 1 ‘liquidity unit’ worth of orders will have been submitted.

• Focal auction will be taking place at 1200hrs UTC

• Auctions take place every 10 minutes

• User have an opportunity to submit orders up to when timer on top navigation bar exhibits 00 seconds left to next auction

• Focal auction every day at 1200hrs UTC

• Focal auction means ‘one where Noemon Research commits to provide liquidity for 1 liquidity unit; defined at 142 markets x 3k’

• Expiry shall be 0800hrs UTC every Friday.

• Therefore on expiry we have 2 focal auctions