Gemini exchange to begin daily ETH auctions

Gemini exchange is going to begin hosting daily Ether auctions
25 July 2017   1947

Is an open-source blockchain-based distributed computing platform featuring smart contract functionality, which facilitates online contractual agreements 

Digital currency exchange Gemini is to begin hosting daily Ether auctions starting on Friday, July 28th. In prospect the auctions are to be held each business day at 4:00 pm ET.

As Gemini team claims on its blog, such daily auctions increase price discovery and transparency, and they reduce costs across the board by making sure that buyers and sellers don’t miss each other during the trading day. In addition, the auction is to bring its participants the benefits of over-the-counter (OTC) trading without the overhead, hassle, and lack of transparency.


Distributed database that is used to maintain a continuously growing list of records, called blocks

According to the Gemini team, the actions work pretty simple. Thus, all eligible orders are filled at the final auction price. The final auction price of each Auction is determined by finding the price at which the greatest aggregate buy demand and aggregate sell demand from all participating orders can be filled (i.e., the price at which the largest quantity can trade). The mechanics of this auction are very similar to the closing auction (or “closing cross”) on the major electronic U.S. stock exchanges (e.g., Nasdaq, NYSE Arca, Bats). 


This provides an opportunity for both buyers and sellers to trade in an instant of elevated liquidity and price discovery.

Gemini Team

As Gemini details, indicative auction prices will be broadcasted through its market data API and website 10 minutes before the auction time, during which it will be updated every minute until the final 60 seconds, with the price refreshing every 15 seconds after that point.

HTMLCoin swap process comes to an end

On March 27 HTMLCoin finalizes the swap procedure of old HTML5Coin into HTMLCoin at a rate 3:1 and thus the migration to a new blockchain will be officially completed
21 March 2018   30

In full accordance with the swap schedule, March 27 marks the end of the swap procedure of the old HTML5Coin token into new HTMLCoin token. This final stage of the swap that lasted roughly 14 days is considered to be late stage and thus the rate is 3 (old) : 1 (new).

A special web form was prepared so that the users could fill it out and perform the swat themselves (therefore it was called 'Self-swap service'). The users can use this form for both the HTML5Coin wallet addresses and YoBIT exchange withdrawal code called 'Yobit code'. The HTMLCoin team warns that sometimes the YoBIT exchange withdrawal function may not work and recommends repeating the procedure later or contact HTMLCoin support for help with the withdrawal.

The actual swap are going to be handled on Saturday, March 31. The official end date of the swap procedure is set on March 28. This swap is due to the migration of HTMLCoin to a new blockchain with new features for freelancers and segregated minorities (e-learning programs, job hunting and connections, freelance mobile app). These rich features all aim to empower freelancers and vulnerable communities to new bold opportunities, learn new skills and apply them immediately. Freelancers-Business platform is set to connect companies and freelancers to help adopt these innovative concept.

As of the moment of publication, the HTMLCoin market indicators are as follows:

Average price: $0.000541

Market cap: $35,579,234

Volume (24h): $70,079