ConHero will open the auction of “Musashi” in MoonSwapNFT2.0. Participating in the event can receive a limited amount of NFT and CFX.This auction will be conducted in two phases, and the start time of each phase is as follows:
Activity:UTC 11：30AM Apr 17
Activity:UTC 11：00AM Apr 18
UTC 11：30AM Apr 17 - UTC 11：00AM Apr 19
The top 2 heroes who participated in the most auctions during the event can get a HeroNFT each;
Share the link to a group with no less than 200 people on WeChat, QQ, Discord, and submit a screenshot to ConHero#. The top 10 submitted heroes will get 2 CFX each.
The first and second periods are calculated separately，the reward will be issued within 2 working days.
Participants shall bid with cMOON;
The auctioned ConHero NFT will be won by the highest bidder;
The countdown for each auction is 24 hours;
When there is less than 1 hour left, 10-minute-cooling time will be added to the countdown when there is a new bid and the limit is until 1 hour.
For example, A gives a new bid when there are 35 mins left in countdown, the countdown will be increased to 45 mins. Then B gives a new bid, making the countdown increased to 55 mins. Then C bids, the countdown will be increased to 1 hour. If D gives a new bid now, the countdown will stay at 1 hour. If there is no new bid before the 1-hour bid runs out, D will get the auction item.
According to the smart contract, every new bid needs to be 10% more than the previous one. The system will then distribute 20% of the 10% increase to the previous bidder and 80% to the auction reserve pool.
For example, the original bid for an NFT is 5000 cMOON. The first bidder gives 5500 cMOON, and the second bidder makes a bid of 6050 cMOON, the difference between the two bids is 550 cMOON. The system will inject 440 cMOON （80% of 550 cMOON） to the auction reserve pool, and the remaining 20% (110 cMOON) and the 5500 cMOON, as a total of 5610 cMOON to the previous bidder’s address.
The auction revenue (excluding user’s rewards) will go into the auction reserve pool.
50% of the funds in the auction pool will be injected into the ConHero NFT staking pool and the remaining 50% will become ConHero’s revenue.