JOLT Buyback-Burn

Users can start bidding for an auction by clicking the "JOLT Buyback-Burn" button located on the left side of the page.

Testnet Link: https://testnet2.joltify.io/auction-give-back

Auction Options

At the top of the page, there are six auction categories, each for a different asset.

The percentage displayed alongside each asset represents the accumulated proportion required to initiate its respective auction.

In particular, the USDC auction will commence as soon as the targeted amount of USDC is achieved.

Auction Duration

Each auction has a maximum bidding duration, for example, 45 minutes.

In this scenario, each bid can sustain the auction for a maximum of 30 minutes.

Please note that if the remaining bidding duration stays above 30 minutes, the auction's countdown timer will be reset to a 30 minutes interval. Otherwise, the auction's countdown timer will not be reset.

Bidding Amount

1. The first bid for an auction has be more than 0 JOLT.

2. After the first bid, users need to increase the bid by at least 5% more JOLT compared to the previous bid.

3. Certainly, the user has the freedom to bid on the auction with any amount of JOLT they desire, enabling them to effectively compete with other bidders.

You can find additional details here.

You can watch the demonstration video to perform the above operation.