YIMBY Auctions

YIMBY auctions are carried out off-chain, and completed as part of closing operations.

A bid for priority on a given unit can be placed at any time, and, if there is an active bid when the unit is marked as available, the highest bid for that unit wins.

Similarly, the rights to choose the next acquisition are auctioned to the highest bidder on a monthly cadence. If funds remain after the acquisition, a runoff occurs until funds have completely been spent or the winning bid denies the right.

A separate auction is held for each unit type supported by the protocol.