🗳️Auction

Auction Mechanism

• Transaction currency: UDOGE Token (Binance Smart Chain).

• Minimum price: users are set depending on the NFT to be auctioned.

• Maximum price: unlimited.

• Auction duration: users set themselves by an hour (multiple of 1).

Create Auction

• Requires possession of at least 1 NFT in the wallet.

• Create auction fee: Free -> only pay the gas fee of the network (Binance Smart Chain).

• Set auction deadline.

• After the auction period expires and there is at least 1 bidder, NFTs will sell to the last bidder -> The seller will receive 90% of the amount of the last bidder.

• The remaining 10% is divided equally among each auction participant.

Place a bid

• Select the NFTs on which you want to bid.

• There is a display table for players to know the current auction price, players do not have the right to bid lower than the current price -> specifically, the next bidder will bid 10% higher than the previous bidder there.

• Bid steps: 0.002 BNB/ 1 bid (non-refundable)

• Players have the right to bid multiple times and can also bid consecutively.

• The highest bidder will be the winner.

Claim

• After the auction ends, the seller will need to claim the token -> free (only pay the gas fee of Binance Smart Chain)

• After the end of the auction, the last bidder needs to claim the NFTs -> free (only pay the gas fee of Binance Smartchain).