The Fair sale is a variant of the presale service that puts extra emphasis on equal opportunity - it is always open for everybody, and each user is constrained by the same limits and restrictions. The parameters used are mostly the same as in the case of the Standard Sale, except for the Listing rate, Presale rate, Hardcap and Whitelist - which don't feature in this variant. For a comprehensive list explaining each parameter in detail see: Presale Service/Presale Parameters. For a step by step tutorial on creating a Fair Sale, go to Creating a Fair Sale tutorial.
The Fair sale service does not support the whitelist functionality, nor does it feature an extra pesale phase for SGY holders. This means that any wallet that has sufficient funds can partake in the presale. Neither Dexpanse nor the Token Creator can limit the presale participation.
Remember that malevolent token creators can still inject malicious functions into the token's smartcontract, which can result in wallets being blocked from selling, liquidity dumping etc. Always do your own research regarding the projects you want to invest in.
The listing rate is the initial price that the presold token will have on the created AMM ( Automated Market Maker) exchange just after the presale has finished. Of course, once a token is listed on a decentralized exchange it must have a price, and so in theory a Fair Sale token must actually have a listing rate. However, unlike the case with the Standard Sale, in the Fair Sale it is not possible to determine the listing rate before the sale has actually finished. The case is the same with the Presale rate which indicates the ratio of how many tokens will each presale participant receive for the provided base tokens.
While creating a Fair Sale the token Owner does not specify the hardcap, but only a softcap and the number of tokens for sale. This means that there is no upper limit to the amount of base tokens that can be raised during the presale. The actual number of tokens that each presale participant will receive (the presale rate) and the listing price are fully dependent on this final base token count. In practice, this means that the more base tokens are raised, the less sale tokens each presale participant will receive - on the other hand, each sale token will also be worth more, i.e. have a higher listing price.
Due to the aforementioned mechanic, any potential investor should research the token distribution of a Fair Sale project before investing. As a very successful presale can highly inflate the listing price of the token, if any other users have acquired the same token earlier through airdrops, private sales, or other forms of distribution, there is a significant chance that they will be able to sell off their tokens immediately following the presale finalization at an exorbitant rate. In doing so they will promptly deflate the token price and bring about losses for other investors.