Buyer's Guide: Bidding

All sales can be viewed in a list, with details about each sale viewed on a vanity URL, including past, pending and live sales.

Sales statuses can be one of the following:

Scheduled - The sale is created, but has not reached the start date.

Active - The sale is live. It has not yet reached its end date and time. Bidders may place, activate and cancel their bids.

Completed - The sale has reached the end date and time and exceeded the sale target. Successful Bidders must withdraw their tokens and unsuccessful bids must be cancelled to retrieve their bids.

Retracted - The sale reached the end date and time and failed to reach the minimum sale amount (more on this can be found in the Guides for Sellers). Bidders must cancel bids to reclaim their funds.

Live sales show real time information regarding bid placement and volume, sale targets, and average price. Users can see all their bids, including active and inactive, a prediction on their results based on current sales data, and their average token price.

Compatible wallets include Sonar, Keplr, Leap, xDefi and Station.

Placing Bids

Choosing a Discount Silo

When placing a bid, the bidder chooses the price they are willing to pay from a range of options offered by the seller. These are expressed as a Discount on the sale price, which is shown on the x axis of the bidding graph. Bids in bigger discount silos pay a lower price per token. Bids in smaller discount silos are filled first.

Eg. If the sale price is $0.25 and a bid is submitted in the 20% discount silo, the bid per token is 80% of the sale price; 0.25 x 0.8 = $0.20

All bids submitted by a connected address are listed in the My Bids Section of the sale page. Bidders can place, activate and cancel bids any time during the sale window, excluding the Final stage of the sale. This stage length is defined by the activation delay set by the launcher. Go to the Activation Delay section to learn more about this feature.

Choosing a Bid Amount

Once a bidder has chosen a discount silo they must enter the amount they wish to bid. A bidder may place as many bids as they desire, in as many discount silos as suits them.

The amount is denominated in the purchase token chosen by the sale creator. It is usually, but not limited to, a stablecoin such as USK or USDC.

The 25,50,75,100 % buttons below the Bid Amount field will conveniently allocate a corresponding % of the purchase denom available to the connected address. Bidders can also manually input an amount of their liking.

My Bids

The information provided in this section gives the bidder oversight of their bids in an active sale.

Premium - The discount price at which the bid is placed. The Avg shown at the bottom of the column is the average discount of all bids.

Bid Remaining - The bid amount in that discount silo. Each bid is represented separately, even when multiple bids are in the same discount silo. The total value of all bids added together is shown at the bottom of the column.

Bid Status - A bid can be active or inactive. A bid must be active to be filled. An inactive bid with a timer next to it cannot be activated until the time completes counting down.

Maximum Sale Amount - The number of tokens the bidder receives if the bid is completely filled. The total number of tokens the bidder is eligible to receive is shown at the bottom of the column.

Predicted Sale Amount - The number of tokens the bidder receives as the sale currently stands. The total number of tokens the bidder is predicted to receive is shown at the bottom of the column.

Activating Bids

The Activation Delay status is displayed above the fields used to choose a Discount and Bid amount.

This tells the user where the Activation Delay is active or dormant. If dormant, the amount in bids needed to activate the delay is also displayed.

Once a Bidder has chosen a Discount and Bid amount, clicking Place My Bid triggers a Tx. Approving the Tx submits the bid on chain, and the Bid amount is removed from the bidders address and placed in the Smart Contract.

Auto Activation

If the Activation Delay is dormant, bids are activated instantly once they are submitted, and viewable in the My Bids section with the status Active

Activation Delay

If the Activation Delay is triggered, new bids will be listed in the My Bids section with the status Inactive and a timer indicating the time left until the bid is ready to be activated.

These bids must be manually activated by the bidder to be eligible. This is done by clicking the Activate button and approving the Tx. The Activate All button activates all eligible inactive bids.

Cancelling Bids

Bidders may cancel bids at any time during the sale window. This includes active bids and inactive bids regardless of whether the Activation Delay is complete or not.

Withdrawing Tokens

Once a sale window has expired, successful bids are accepted, and the bidding address is allocated the corresponding number of tokens. These tokens reflect as a balance where the time remaining in the active sale was previously displayed.

The bidder clicks Withdraw and approves the Tx to receive the tokens in their address, less the 0.5% commission.

Unfilled bids must be cancelled to retrieve the Bid Amount from the smart contract. The Cancel buttons sit to the right of the individual bids in the My Bids section. Unsuccessful bids do not incur a commission when cancelled.