> For the complete documentation index, see [llms.txt](https://fractional.gitbook.io/fractional/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://fractional.gitbook.io/fractional/smart-contract-breakdown/settings.md).

# Settings

This file is owned by governance and used to help control the system. It keeps control over bounds such as auction length, reserve price movement and fees. Below we will go through each parameter and respective configurable settings.

**maxAuctionLength:** The current maximum length which a curator can set an auction to. This value is hard capped at 8 weeks.

**minAuctionLength:** The current minimum length which a curator can set an auction to. This value is hard stopped at 3 day.

**governanceFee:** The annual percentage of token supply inflation that the DAO accumulates. This is hard capped at 10%.

**maxCuratorFee:** The maximum annual fee that a curator can set for themselves.

**minBidIncrease:** The minimum amount that must be bid over the previous bid as a percentage value. Every bid must be at least 5% higher than the previous one.

**maxReserveFactor:** The maximum value the reserve factor can be set to over the base price of the NFT. This helps to make sure that a user cannot up the price too an unattainable level.

**minReserveFactor:** The minimum value the reserve factor can be set to under the base price of the NFT. This helps to make sure that an auction cannot be kicked off at too low of a level.

**feeReceiver:** The governance address which receives the governance fee.

**allowedNFTs**: The Ethereum addresses of allowed NFTs. This is to make sure that only safe NFTs can be fractionalized. Governance can add or remove addresses.


---

# Agent Instructions
This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com.

## Querying This Documentation
If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question.

Perform an HTTP GET request on the current page URL with the `ask` query parameter, and the optional `goal` query parameter:

```
GET https://fractional.gitbook.io/fractional/smart-contract-breakdown/settings.md?ask=<question>&goal=<endgoal>
```

`ask` is the immediate question: it should be specific, self-contained, and written in natural language.
`goal` is optional and describes the broader end goal you are ultimately trying to accomplish on behalf of the user. GitBook uses it to tailor the answer towards what is most useful for that goal.

The response will contain a direct answer to the question and relevant excerpts and sources from the documentation.

Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.