# Orderbook Dutch Auction

This auction type has fixed amount of tokens where prices are not constant and buyers will be selected depending on their bid price

Investors can enter their maximum willing to pay price and amount of tokens they want to buy, if the total bidded tokens are more than actual token amount tokens will be distributed to investors in order of their bid price until no token is left.

Bids can't be taken back and bid price can't be increased

Bids are publicly available so other investors can see it

Sucoin investment per investor can be limited by limit parameter

If a investor was able to buy the token they will be charged from minimum investor price who were able to buy it.

If an investor was not able to buy the token they will be refunded their sucoins.

For example If 100 tokens are on sale and three investors bidded for 80,40,20 tokens with prices x,y,z where x > y > z. First investor which bid the highest price will get all 80 tokens and pay y for each and refunded according to difference between x and y. Second investor which bid the middle price will get 20 tokens and pay for for each and will be refunded for the other 20. Third investor will not get any tokens and will get a total refund.

There is also no bot concerns as buying speed is not important