Auctions

Introduction

The highly popular AssetDash Coin Auctions are now live in our mobile app.

AssetDash Coin Auctions allow you to use your AssetDash Coins to bid on NFTs, WLs, gaming items, gift cards, and more.

The Auction Process

Auction Batches and Coins

New auctions will go live multiple times a week with a series of prizes such as NFTs, Memecoins, WL, many more.

Only your Liquids Coins can be used to bid on the items in a specific batch.

Once you place a bid - your Coins are locked as “Bid Coins” until the completion of the auction. After the auction - you get your Bid Coins back if you do not win. If you win → your Coins are spent and you receive the item from the auction.

Auction Phase One: Blind Phase

💡The first phase of every auction is called “Blind Phase”. In this phase, members can set a blind bid to enter an auction for a particular item. Bids and leaderboards in this phase are not public. If your bid is in the Top 50% of bids in Phase One, you advance to Phase Two: The Final Phase.

You can increase your bid as many times as you want in the Blind Phase. Coins used in any bid made in the Blind Phase are locked until the completion of the auction.

Auction Phase Two: Final Phase If you are in the Top 50% of bidders at end of the Blind Phase → you will qualify for the Final Phase. In the Final Phase → bids are revealed publicly. All bids and the auction leaderboard are public for anyone to see. The highest bidder at the end of the Final Phase wins the Auction.

Only members who qualify for the Final Phase (by having a Top 50% bid in the Blind Phase) can bid during the Final Phase.

The Final Phase starts right after the Blind Phase concludes. You can increase your bid as many times as you want in the Final Phase.

Coins used in any bid made in the Final Phase are locked until the completion of the auction.

Strategy Points:

• Remember all coins used in bids are locked until the end of the auction - be strategic on which auctions you decide to enter.

• You can only able to bid in the Final Phase if you qualify for it - by being in the Top 50% of bids in the Blind Phase. Make sure you keep this in mind when placing bids during the Blind Phase.

  

Note: Ensure you read all the auction instructions thoroughly to avoid any misunderstandings or losing your prize. Each auction may have distinct requirements or steps to follow, which are clearly outlined in the instructions. Entering the auction without fully comprehending these details might lead to missed opportunities or losing the prize