Community auction officially launched

Community auction officially launched

Site:

https://condragon.com/auction

Auction Rules:

:one: Participants shall bid with cMOON;

:two: The auctioned ConDragon NFT will be won by the highest bidder;

:three: The countdown for each auction is 24 hours;

:four: When there is less than 1 hour left, 10 -minute-cooling time will be added to the countdown when there is a new bid and the limit is until 1 hour.

:five: Every new bid needs to be 10% more than the previous one. The previous bidder will take 2% and the seller will take 8%.

:six: The platform will charge 3% of the seller’s revenue in the auction as a service fee, of which 1.5% will be allocated to the ConDragon NFT mining pool.

:seven: After the auction ends, the seller needs to claim the profits by himself; after the unsuccessful auction, the seller needs to claim the NFT by himself.

For example,

  1. A gives a new bid when there are 35 mins left in countdown, the countdown will be increased to 45 mins. Then B gives a new bid, making the countdown increased to 55 mins. Then C bids, the countdown will be increased to 1 hour. If D gives a new bid now, the countdown will stay at 1 hour. If there is no new bid before the 1 -hour bid runs out, D will get the auction item.

  2. Every new bid needs to be 10% more than the previous one. The previous bidder will take 2% and the seller will take 8%.

For example,

  1. the original bid for an NFT is 5000 cMOON. The first bidder gives 5000 cMOON (all of them will enter to the auction contract), and the second bidder makes a bid of 5500 cMOON, the difference between the two bids is 500 cMOON. 80% of them (400 cMOON) will be kept in the auction contract, and the first bidder will get [ another 20% (100 cMOON) + the amount of his bid], the total number is 5100 cMOON.

  2. After the auction ends, the 5400 cMOON reserved in the auction contract will be deducted from the 3% service fee (162 cMOON), and the remaining 5238 cMOON is the claimable profits.

  3. Among them, 1.5% (81 cMOON) went directly to the ConDragon NFT mining pool, and the other 1.5% (81 cMOON) was platform profits.