Announcing: Golden Planets Auction
Bid your way to EPIC glory
GM #ARGOFAM
Get your spacesuits on and buckle up, because the most EPIC NFT auction in Cronos is about to blast off. EIGHT incredibly rare Golden Planets and accompanying Golden Epic Spaceships are set to be auctioned off on the 26th of April.
Auction Details
Date: 26th of April 2023
Time: 2PM UTC
Duration: 24 hours
Auction Website: Atlantis Website. Exact link to be revealed 1 day before Auction begins
Auction Mechanics
In this upcoming Golden Planets auction, a variation of the English Auction will be used to create an exciting and competitive atmosphere for the bidders. Here’s how it works:
Key Parameters
- 8 Golden Planets (Planet ID #1 - #8) will be auctioned off.
- Auction will last for 24 hours.
- Auction extension time is 5 minutes, triggered by successful bids in the last 5 minutes of the auction.
- Minimum starting bid is 1,000 CRO.
- Minimum bid increment is 10%.
- All active bids require CRO to be committed upon bid. If your active bid gets relegated out of the top 8, you will get back your CRO instantly.
Note: All rules are governed by the Atlantis Auction contract and will be immutable.
Detailed Mechanics
A single auction will be held to determine the pecking order of users for the 8 planets. The highest bidder gets Planet #1, second highest gets #2 and so on.
How does the Bidding System work?
- Only 8 bids are active at any point in time.
- Only the 8 active bids will qualify for the Golden planets at the end of the auction
- All active bids require CRO to be committed upon bid
At any point in time, only 8 bids will be active in the auction. Bidders will have to commit their CRO upon bid. For example, a user that successfully bids 1000 CRO will have their CRO held in the auction contract until they get outbidded.
Note: Anyone who gets outbidded and falls out of the top 8 will have their CRO returned to them — they are free to bid again once that happens
How much can I bid?
- If there are less than 8 active bids: minimum bid price is 1000 CRO
- If there are 8 active bids: minimum bid price is 10% higher than the lowest of the 8 active bids.
For example, if the lowest of the 8 bids is 2000 CRO, a bidder wanting to enter the 8 active bids will have to bid a minimum of 2200 CRO (10% increment from lowest active bid of 2000 CRO).
When this happens, the lowest of the 8 bidders is kicked out and will have their CRO returned to them directly.
How can I make sure my bid remains in top 8?
- Active bidders can raise their bids by a minimum of 50 CRO to prevent others from overbidding them.
- There is no maximum limit to how much an active bidder can raise their current bid.
If we take the previous example, a bidder at #8 with a 2000 CRO bid can increase their bid by a minimum of 50 CRO to 2050 CRO.
This means that the next user that wants to enter the active bid now has to bid a minimum of 2050 * 110% = 2255 CRO, instead of 2200 CRO in the above example
Auction Time and Extensions
- Auction will officially last 24 hours
- If any successful bids are made within 5 minutes before the end of the auction, the auction will be extended by another 5 minutes.
For example, if a successful bid is made at 23h57min, the auction end time will be extended to 24h02min.
Only bids that successfully process before the end of the auction will be considered, with pending bids not counting as successful bids.
Auction Rewards
What Are Golden Planets and Why Should You Care?
Golden Planets are a special class of planets in Atlantis, one tier higher than rare planets, covered in an exclusive golden sheen.
Only 12 Golden Planets will ever exist, with 8 being auctioned off (#1-#8) and 4 (#9–#12) reserved for future big giveaways.
These exceptional planets offer their owners increased STARDUST and Gemstone rewards per expedition at every level.
Because of their scarcity, Golden Planets won’t disrupt the overall game for other players, but will undoubtedly benefit their proud owners. These will act as golden trophy NFTs for owners to showcase on their Argonauts Gallery.
Golden Epic Spaceships
The perfect complement to your Golden Planet — As if owning a Golden Planet wasn’t enticing enough, all 8 auction winners will also receive a guaranteed Golden Epic Spaceship.
These spaceships are one tier higher than rare spaceships, boasting a higher base speed, earning more Gold & Stardust during races. They will be eligible to compete in both rare and global races
Rewards Distribution
Golden Planets will be airdropped to winners an hour after the Auction has concluded. Golden Spaceships will be airdropped at the same time when the Spaceship airdrops happen (Upon the launch of Atlantis Mainnet)
GET READY
Don’t miss this unique opportunity to own an ultra-rare Golden Planet and a Golden Spaceship in the most EPIC NFT auction of the year!
Mark your calendars and prepare for a space race like no other, where the winners will enjoy the prestige and perks of owning these one-of-a-kind virtual assets.
Good luck, Argonauts!
