Glossary

  1. Degen Auction - Penny Auction on blockchain with adjustable parameters.

  2. $BID Token - Native token for all bidding transactions on MonkeyBids.

  3. Auction Catalog - A visual list to showcase all the potential or current auction items.

  4. Curate to earn - Users can vote on potential auction items and get rewarded with $BID token after the auction.

  5. Auction Badges - A NFT badges to grant the holder access to VIP auctions.

  6. Auction Parameters - The scope of the auction that can be adjusted for different results.

  7. Settlement Price - The final price winner needs to pay after the auction. Also act as the maximum price of the auction.

  8. Bid Increment - A fixed increase scale of the bidding price in the auction. It is usually 1% of the bid price.

  9. Bid Cost - The cost of each bid.

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