SMATOOS Auction User Guide

Thank you for using the SMATOOS Reward Platform.

SMATOOS offers a variety of services that reward users. And users can consume tokens, including SMATOOS and SMATOOS Partners' tokens, in a fun way.

Today we're going to introduce SMATOOS Auction.

What is SMATOOS Auction?

It is a service of SMATOOS where users can acquire digital real estate, various merchandise, limited edition products, etc. through auction with SMTS token.

SMATOOS Auction Page Guide

  1. Products of the current auction: You can check the current auction products.

  2. Start Price: Minimum price determined by SMATOOS by measuring the value of the product. Bidding begins at this price.

  3. Auction Deadline: The closing time of the ongoing auction. If no new bids are made within this time limit, the last member who bid will be entitled to the goods.

  4. Product Description: You can find out more details about the current auction product.

  5. Real-Time Highest Bidding Price and Bidder Information: On the left, you will see the highest price offered in real-time. On the right is the SMATOOS Wallet ID of the member who bid the highest price in real-time. (The full ID will not be displayed for privacy.)

  6. Time Remaining until Auction Deadline: You can see the time remaining for the current auction to close. The auction will be closed at the earlier time between the given time after the most recent bidder and the auction deadline. e.g.) The starting time of the auction is 09:00 on January 1, and the bidding time is given 30 minutes, and the deadline of the auction is 09:00 on January 2nd. -> Auction is open for new bids for 30 minutes for every bid until 9:00 on January 2nd. Bidding can be made before 09:00 on January 2nd, and if there is no new bid within 30 minutes, the auction will be closed even before the given deadline.

  7. Minimum bid amount increment: Displays the minimum amount to be paid to offer a higher price than the highest real-time bid price.

  8. SMATOOS Wallet Sign in and Bid Approval: A button to enter the minimum bid amount and log in from the SMATOOS Wallet for withdrawal approval. If you refuse to withdraw, you will have to bid again.

How to Participate in SMATOOS Auction (Step by Step)

1. Check the auction product on the left, the description, and the deadline of the auction.

2. Check the highest real-time bid price on the left and the minimum amount to be paid if you want to bid.

3. Enter the amount you want to bid for and sign in with your SMATOOS wallet.

4. Approve withdrawals from the Chainbridge app connected to the SMATOOS wallet. (If you don't see a withdrawal request pop-up in the Chainbridge wallet app, please switch to another screen and return to the Chainbridge app.)

5. You will receive a confirmation email after the completion message of the bid!

Precautions for participating in SMATOOS Auction

  1. You can bid as many times as you want! Even if you bid once, if you want the product, please continue to offer the price and bid! There is no limit to the number of participation.

  2. The time limit in bidding Each session of the auction has a deadline, and the member who bid the highest amount will take the product. However, a certain time limit is given for every auction. That is, if a new bid is made and no new bid is made within a given time limit, the session will be closed and the last member to bid will take the product. (even before the deadline)

  3. The bidding time is based on the withdrawal time! The bidding time of the participating members will be checked based on the time when the withdrawal request was approved by the connected Chainbridge app after logging in to the SMATOOS wallet. In other words, if you refuse to withdraw from the Chainbridge app, the bidding may not be completed and you may have to re-bid!

Friendly Guide to Participating in SMATOOS Auction

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