Docs
The opening bell
Season 1 opens at one timestamp with every crown vacant.
The open
Every crown is vacant until the bell. The board opens at once, and the first minutes run on different rules from the rest of the season.
Bell
every crown vacant
Minute 0
claimants only, per ticker
Minutes 1 to 5
bids accumulate
After
first past the post
Pre-claims
Before the bell anyone can claim a ticker with an X handle. A claim costs nothing, needs no wallet, and holds no position. It reserves the first 60 seconds of the open on that ticker. One claim per handle, one claimant per ticker, and the register is public.
The auction
Minutes 1 to 5 are an auction. Takeover requests are recorded as bids and nothing is granted until the close, when the highest score takes the seat. Ties go to the earlier bid. Without this the open would be decided by request latency, since every threshold is low when a crown is vacant.
After the auction closes the board runs first past the post for the rest of the season: the moment a score passes the sitting CEO, the crown moves.