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

1. Tap the '+' icon and tap 'Make A Promise'.

2. Describe the promise you are making.

3. Set an initial price for the first bidder, once fans start bidding, the price will increase on a bonding curve.

4. Set a bidding period, we recommend 1 day.

5. Submit and approve the transaction, it's free to make a promise.

How to Trade a Promise

1. Find a promise and click 'Snipe' if you are the first bidder, or click 'Steal' if you are a subsequent bidder.

2. Once the transaction is approved, you become the current owner of a promise.

3. If there is a another bidder after you, you will earn 45% from the price increase.

4. 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.

5. Profit distributions happen automatically whenever there is a new bid.