OTC Without the Headache
Long gone are the days of sketchy OTC trades or confusing interfaces. Flip simplifies the private sales experience and helps you feel comfortable while doing it.
Once you connect a wallet to your account, any supported collection will be available for you to list via any single asset view, or through your portfolio page. While Flip allows you to list publicly on multiple exchanges, you are also able to create private transactions via the Flip platform.
Set Your Price
When creating a private listing, asset holders are able to view clear financial details- ensuring they take into account any fees or royalties applicable to the transaction. This is also where they are able to generate either a public link to share with a group (a Discord community, perhaps) or a private link with a selected, exclusive wallet.
Verify to Buy
If the private sale link is exclusive to a specific wallet, the wallet owner must log-in to a Flip account associated with that wallet to view the buy option and execute the trade. This ensures the buyer verifies themselves and accepts the agreed upon price of your choosing- ending in a smooth and transparent transaction.
How it works (and the importance of understanding mempools)
With private OTC transactions, users note an exclusive buyer wallet for a transaction. This buyer is then able to sign in to a Flip account and claim rights to purchase the asset at the listed price.
With public OTC links, things work a little differently. Right to purchase an asset is ultimately down to a buyer’s (or bot’s) willingness to pay a higher gas price than other buyers. While extremely rare, this means that assets can be sniped by other parties- including parties without access to the public link. Due to this, assets intended for specific buyers should always be transacted via private, exclusive-wallet links.