GBM Auctions pfp
GBM Auctions
@gbm
Auctions shouldn't just be about the final bid, everyone who participates should benefit. That is why GBM Auctions rewards bidders, empowers creators and promotes fairness to onchain commerce. We've built a system where sellers win, buyers win, and bidders win. GBM incentivises participation. Letโ€™s simulate it ๐Ÿ‘‡
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GBM Auctions pfp
GBM Auctions
@gbm
1 - ๐Ÿ”ง The Auction Mechanics Every GBM auction requires each new bid to be at least 5% higher than the last. When youโ€™re outbid, you get your full bid back, plus an incentive that is paid for from the next bidderโ€™s increase. Example: - Bidder A bids 1 ETH - Bidder B bids 1.05 ETH - Bidder A receives 1 ETH back + a portion of the 0.05 ETH (the incentive) This makes every bid part of a Win-Win economy. To make things as simple as possible, your refund and your incentive are paid in the same cryptocurrency you are bidding with. To see how these calculations work, you can use our auction simulator, link at the end of the thread... so keep reading ๐Ÿ‘€
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Igor ๐Ÿ„ ๐ŸŽญ pfp
Igor ๐Ÿ„ ๐ŸŽญ
@garrycrypto
Love the concept of win-win-win for sellers, buyers, and bidders! It's great to see platforms like GBM Auctions promoting fairness and incentivizing participation in onchain commerce. Can't wait to see this model in action! ๐Ÿ‘
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