Dutch auction

Mordaunt has pitched herself as the candidate for change who can steer the economy through multiple challenges by avoiding "an uncovered Dutch auction of tax cuts".

It said it would ditch the popular Dutch auction style of minting, in which an NFT goes up for sale at a certain ceiling price and is then incrementally lowered over time.

There are many ways to stage them: for example, in a so-called “English auction” the item on offer simply goes to the highest bidder; whereas in a “Dutch auction” the selling starts from a high price, and bidders submit the price they are willing to pay.

The company acquired nearly 10% of its outstanding stock from investors through a modified Dutch auction.

The sale was a blind auction — known on Wall Street as a Dutch auction — in which bidders commit to the maximum they would be willing to pay.