I believe all the LTB Auctioneer auctions to date have been set up with the bidding token as LTBc, though you can set up an auction to accept any Counterparty token. This gives some interesting possibilities. For example, what if you create a new token that is distributed after a series of auctions have been created with staggered ending dates. And say each auction has a winning LTBc value that increases from the previous. I would say the brand new token would have inherent value (similar to the way LTBc has value, in part, due to being able to cash LTBc in for LTBn sponsorship tokens).
One could tweak parameters (in the coin and the auction) to try experiment with the economics, and there are all types of ways one could distribute the newly created coin (that's a topic as to itself). Lots of opportunities to experiment/play, thanks to Counterparty and the LTB Auctioneer! I plan to let it percolate, but hope to try something in this direction.
Thoughts?
