Auction Dynamics
Last updated
Last updated
Our unique auction system operates on a block-based timing framework using Solana block numbers, ensuring each auction event has a precise and decentralized duration, typically averaging three days. Bids are accepted in USDC, with winners determined by the highest bids submitted.
To promote fairness, a uniform pricing mechanism is employed, where all winning participants pay the price of the lowest bid within the winning group. This approach ensures an equitable and transparent bidding environment for all participants.
Multi-Generation Auction Process: These simultaneous releases are made available through a multi-generation auction process. This unique auction format allows collectors to participate in bidding for stickers from different generations all at once. It creates a vibrant and competitive marketplace where collectors have the opportunity to acquire a wide variety of stickers from various stages of release.
Unsold NFTs transfer to the issuer at the end of the auction. For instance, if the auction features the first generation of 100 items and only 80 are claimed, the remaining 20 mint directly to the Sticker’s issuer.