Land Auction
Auction Information:
Website: https://catgoldminer.ai
Start time: Mid - Q3 - 2024 (TBC following the Official Roadmap)
Network: TON
Buy with: Any wallet, land is a transferrable NFT
Auction Process:
The price starts high and drops by a fixed amount every 1 hour until it reaches the floor price.
All bidders will receive land at the floor price, regardless of when the bid is placed.
Every 1 hour, the price drops by a fixed amount of [TBD] $TON.
The auction continues until all 900 Land has been sold.
Price Example
| Round | Price (TON) | Time |
|---|---|---|
1 | 2,500 | 8 AM |
2 | 2,250 | 9 AM |
3 | 2,000 | 10 AM |
Bidding
Multiple bids can be submitted in each round, and over different rounds without limitations.
Bidding Example
Example Account bid in round 1, 2 and 3, and expects to receive 6 Land.
| Round | Current Price (TON) | Bid Amount (TON) | Expected (Land) |
|---|---|---|---|
1 | 2,500 | 5,000 | 2 |
2 | 2,250 | 2,250 | 1 |
3 | 2,000 | 6,000 | 3 |
Refund
The refund is calculated based on the floor price. The refund amount should be less than the floor price, with some exceptions.
Price Formula
The price is determined by the following formula: Price = startPrice - (blockNumber - startBlock) / blockDelta * stepPrice, if price < floor price --> price = floor price
Floor price = [TBD]
stepPrice = [TBD]
blockDelta = [TBD]
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