Making and Trading Promises
On EarlyFans, a creator can make a promise to their fans. Fans will start bidding on the promise on a bonding curve. A bidder will either win profit in ETH or the promise itself, and enter a chat with the creator to fulfill the promise.
How to Make a Promise
Tap the '+' icon and tap 'Make A Promise'.
Describe the promise you are making.
Set an initial price for the first bidder, once fans start bidding, the price will increase on a bonding curve.
Set a bidding period, we recommend 1 day.
Submit and approve the transaction, it's free to make a promise.
How to Trade a Promise
Find a promise and click 'Snipe' if you are the first bidder, or click 'Steal' if you are a subsequent bidder.
Once the transaction is approved, you become the current owner of a promise.
If there is a another bidder after you, you will earn 45% from the price increase.
If there isn't any other bidder after you when the period ends, you will become the winner of the promise and enter a private chat with the creator to fulfill the promise.
Profit distributions happen automatically whenever there is a new bid.
Last updated