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.