LogoLogo
  • ABOUT THE JPEG'd PROTOCOL
    • 🚬Introduction to JPEG'd
    • βš™οΈLending Mechanics
      • Borrow Interest Rates, Fees and Vault Tiers
      • Loan-to-Value Ratios and Liquidation Thresholds
      • NFT Pricing
      • Liquidations
      • Borrow with JPGD
    • 🌟Supported Collections
    • β˜‚οΈLiquidation Insurance
    • ⚑JPEG'd Boosts
      • LTV Boost
      • Traits Boost
        • Traits Boost Multipliers
      • Cigarette Boost
    • πŸ”¨Auctions
    • πŸ€–Notification Bot
    • πŸͺ‚Airdrop
    • πŸͺ™Tokens
      • $JPGD
      • $pETH
      • $PUSd
      • JPEG Cards
  • CDP LENDING GUIDES
    • πŸ’΅Borrowing
      • Open a Position
      • Manage an Existing Position
      • Create an LTV Boost
      • Close a Position and Withdraw Collateral
    • πŸ’°Get Yield on JPEG'd
      • 🚜Farming with $pETH
      • Farm with $PUSd
      • πŸ™Š$APECoin Staking on JPEG'd
        • Solo $APE Staking
        • P2P $APE Staking
        • $APE Staking FAQs
    • πŸ“ΊJPEG'd Videos
    • πŸ›«Migrate JPEG to JPGD
    • πŸ’ŽAirdrop Claiming
  • Peer 2 Peer Lending
    • 🀝Peer 2 Peer Lending
    • How it works
    • For Borrowers
      • How to List an NFT
      • Accepting a Collection Offer
      • Closing a Loan
      • How Does Refinancing Work
      • How Does Default Happen
    • For Lenders
      • Single NFT Lending Offers
      • Collection Offers
      • Refinancing an Existing Loan
      • Liquidation
    • Add a collection
  • TOKENOMICS
    • πŸ“ŠSupply Graph
  • Contracts
    • πŸͺ™Tokens
    • πŸ‘ΎTreasury
    • πŸ₯CDP Lending
    • πŸ’Peer 2 Peer Lending
  • Security & Governance
    • πŸ—³οΈQuorum & Requirements
      • Governance Links
    • πŸ”Audits
    • πŸ‘ΎDAO Treasury
  • Links
    • Website
    • Discord
    • Telegram
    • Twitter
    • Medium
    • Snapshot
    • Treasury
  • Other
    • Community
    • Brand Assets
Powered by GitBook

Community

  • Discord
  • Twitter
  • Telegram

Links

  • Medium
  • App
On this page
  1. ABOUT THE JPEG'd PROTOCOL

Auctions

Buy cheap bluechip NFTs, by bidding on liquidated NFTs

PreviousCigarette BoostNextNotification Bot

Last updated 1 year ago

JPEG’d auctions are Open Ascending auctions. The buyers will start bidding until there’s no more price bidding a higher price. The last person to bid, which is also the person who bids the highest price, will get the NFT.

To maximize coverage of timezones and make sure the maximum amount of participants can take part, auctions run twice a day and start at 00:00 UTC and 12:00 UTC, whichever is first, and run for 12h.

At the conclusion the winner can claim the NFT. If a new bid is introduced less than 5 minutes before the end of the countdown, the auction is extended by 10 minutes. This process repeats until there are no more bidders.

Users can withdraw bids at anytime if they have been outbid.

At the end of the auction and if they are the weener, they will be able to claim your NFT straight from the auction page.

Anyone is able to participate in auctions .

Bidding

Bids are placed in ETH.

Bidding is incremental and needs to be at minimum 1% above the current highest bid.

The bidder with the highest bid can not withdraw their bids. All the other participants can withdraw their bid whenever they want.

There is no need to withdraw the previous bid to place a new bid. In the occasion a user has been outbid, they can place another bid with the total amount they are willing to bid. 
The ensuing transaction will be only for the amount to add to the previous bid to match the new bid price.

πŸ”¨
here