DOCUMENTATION

Downprice mechanics

Downprice is a descending-price auction for one escrowed Robinhood Stock Token lot. The seller defines the terms, and a buyer accepts the live USDG price.

Creating an auction

The seller selects an allowed Stock Token and amount, a starting USDG price, a lower floor price and a duration from ten minutes to thirty days. The contract pulls the exact token amount into escrow. The price falls linearly from the starting price to the floor during the chosen duration. A listing cannot be bought after its deadline.

Buying

The buyer sets a maximum total payment. At execution the contract recalculates the price, adds a 0.5% fee paid by the buyer and refuses the transaction if the total exceeds that maximum. A successful transaction transfers the token to the buyer, the sale price to the seller and the fee to the fee recipient. There are no partial fills.

Cancellation and expiry

The seller can cancel any auction that is still open and receive the escrowed token back. After expiry, buying is disabled, but the seller can still cancel and withdraw. No keeper is required.

Corporate actions

Downprice records the Stock Token's onchain uiMultiplier when the auction opens. If it changes before purchase, buying is blocked. The seller can cancel, receive the token and relist with updated terms.

Contracts and fees

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The fee is 0.5% of the live sale price, rounded up to the smallest USDG unit, paid by the buyer. The fee recipient and allowlist are fixed at deployment. The contract has no admin function to seize active auctions or change the fee.

Risks

Downprice is unaudited. Smart-contract defects, token behavior, corporate actions, wallet mistakes and changes in market prices can cause loss. The displayed price is the seller's chosen schedule, not a fair-value estimate. Stock Tokens are tokenised debt securities, not direct shares in the underlying company. Review the issuer documentation and applicable restrictions before using them.