- Users can make 'multiple bids' at once or over the life of the auction; paying a bid fee for each bid placed.
- You can bid with your wETH/ETH balance in your wallet directly or purchase credit tokens that will provide you with extra bonus tokens to increase your bidding power.
The game here is to outthink others and win high prize ranks.
- Battle auctions are a “bid & reaction” interaction game, where every bid is either burnt or given a rank for being active.
- Bidders will typically make a strategic first bid, based on the number of bids already made, and the time left until the end of the auction
- Placing the first bids helps guide the bidders on their next moves...
- Where are they on the Ranking Table for their active bids? Low or High?
- Should they secure other spots in the table in case their current ranked active bids are burned by others?
- Should a cluster or bids be placed within a small range, or spread out?
- What are others likely doing?
A lot of game theory strategies will be deployed by participants to achieve a single objective: Placing the highest active bid before the auction ends.
For the auction to be settled, the minimum bids must be reached before the timer runs out (i.e auction expiry)