Bench Overview

Myth Bench enables permissionless constant price markets on Algorand: sell any amount of an asset at a fixed price, straight from an on-chain escrow.

Myth Bench is available at myth.finance/bench

A bench is a dedicated smart contract that holds the tokens you want to sell and hands them out to buyers at the price you set. There is no order book, no liquidity pool and no slippage: every buyer pays the same price, until the bench sells out or ends.

In a nutshell:

  1. A seller creates a bench, choosing the asset to sell, the purchase asset (ALGO or any ASA), the amount and the price.
  2. The Bench registry deploys a dedicated escrow contract for the sale and moves the tokens into it.
  3. Buyers send the purchase asset to the bench and instantly receive tokens at the fixed rate, atomically.
  4. The seller withdraws proceeds at any time, and closes the bench once it is over.

Features

  • Sell ALGO or any ASA, priced in ALGO or any ASA
  • One fixed price for the whole sale, no slippage
  • Schedule a start time, an end time, or both, or leave the bench open until it sells out
  • Per-account purchase limits, enforced on-chain
  • Optional Terms & Conditions link and restricted countries list (see Metadata)
  • Designate a beneficiary: the account that receives the proceeds and manages the bench can differ from the account creating it
  • Withdraw proceeds at any time, while the sale is still running
  • Automatic end when the bench sells out
  • Immutable, non-upgradable escrow contract per bench (see Immutability)
  • Directory of all benches on-chain, and a TypeScript SDK for programmatic access

Who can create a bench?

Anyone. Creation is permissionless for assets that pass the asset eligibility checks. On mainnet this currently means ALGO and any Pera Verified ASA (plus assets explicitly allowlisted by Myth Finance).

Fees

  • A one-off setup fee in ALGO when creating a bench (currently 20 ALGO on mainnet)
  • A platform fee on each sale, deducted from the seller's proceeds in the purchase asset (currently 0.15%)

Buyers pay no platform fees. See Fees for details.

Roadmap

  • Private sales and OTC support via buyer whitelist
  • Enforce minimum purchase amount
  • Detailed accounting export

Read more about how Bench works or navigate to a specific section using the menu.