Glossary
Degen Auction - Penny Auction on blockchain with adjustable parameters.
$BID Token - Native token for all bidding transactions on MonkeyBids.
Auction Catalog - A visual list to showcase all the potential or current auction items.
Curate to earn - Users can vote on potential auction items and get rewarded with $BID token after the auction.
Auction Badges - A NFT badges to grant the holder access to VIP auctions.
Auction Parameters - The scope of the auction that can be adjusted for different results.
Settlement Price - The final price winner needs to pay after the auction. Also act as the maximum price of the auction.
Bid Increment - A fixed increase scale of the bidding price in the auction. It is usually 1% of the bid price.
Bid Cost - The cost of each bid.
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