๐Ÿ–ผ๏ธAuction

Introduce:

The feature helps you to sell your NFTs at the price you give at first and people can participate in the auction to offer the price they want.

What is this?

This is the place where you can put up your NFTs for an auction for everyone to bid the price that they want with the step price we have set for all. Sellers can choose the token that they want to receive in the auction: MOWA BNB USDT

Details:

This feature was made to bring everyone a whole new experience besides normal buying and selling on marketplaces. The selling point is that you can not know which will be the last price. Feeling gamble right?

The more money you have, the better chance of winning you will have in the auction. But if you are lucky, you can always get a special NFT at a low price. Before joining, you had better know something more details about this feature:

  • For the price step: The price step will be set automatically as 10% For example: the previous price was 100 MOWA so the bid price will be 110 MOWA

  • For the lost bidders: The lost bidders will automatically receive back 101% of the amount they have bid for the auction price (1% is taken from the next bidderโ€™s money).

  • For the transaction when there is a winner for the auction: If the winner claims the NFT, the money will be sent immediately to the seller If the seller claims the money, the NFT will be sent immediately to the winner

  • For the search and sort filter: NFT type NFT name Newest / Oldest The token type (MOWA, BNB, USDT) From lowest to highest price (based on the token type) From highest to lowest price (based on the token type)

Rules:

There are some rules for all the users to keep everything working buttery:

For the sellers (who create the auction):

  • Every auction can only sell 1 type of NFT.

  • Sellers can set the amount of NFTs as much as they want, but they can only sell one Pet per auction.

  • The sellers cannot join their own auctions. The sellers cannot change anything after the auction was made.

  • The sellers can cancel the auction, but only when there has been no bidder.

For the bidder (who participates in the auction):

  • Bidders can join many different auctions.

  • Bidders cannot bid twice in a row in one auction.

  • Bidders cannot set the price step themself. It will automatically increase 10% depending on the previous price.

  • All the active accounts (official accounts) can use this feature.

Token distribution after the Auction has been completed:

If the transaction is by MOWA:

  • Sellers will receive the amount = 92,695% of the rest after paying 1% to the previous bidders.

  • The exchange will receive the amount = 7,305% of the rest after paying 1% to the previous bidders.

If the transaction is by BNB or USDT:

  • Sellers will receive the amount = 91,827% of the rest after paying the previous bidders.

  • The exchange will receive the amount = 8,173% of the rest after paying the previous bidders.

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