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Participate in a Dutch auction
2. If you already know an auction you want to participate, you can directly visit the auction pool link (if you have it) or you can search the auction pool by auction pool name, token address, auction creator username or user ID.
Make sure to double check the auction pool information and confirm that you enter the right pool.
There are three types of pool status:
- Upcoming: The auction is not live yet. Be sure to set a reminder so you don't miss it.
- Live: The auction is ongoing and you can place bids
- Closed: The auction is closed and you can no longer participate
3. Wait till bidding is open. The price will start from ceiling price and incrementally decrease until it reaches the floor price. If you're good with the current price, you can place your bid, starting with specifying your bid amount.
4. You'll be asked to confirm that you've:
- researched the auction pool creator;
- checked the auctioned token and its contract address to make sure it's not fake/scam;
- checked the price;
- understood rules about Dutch Auction
5. After clicking "Confirm and continue", Bounce will request wallet interaction where you'll need to sign and confirm your transaction.
- 6.Once your transaction is successfully submitted, you'll receive a "Congratulations" notification confirming that your bid was successfully placed.
- 7.Your bid will be displayed on the auction pool page. You can keep placing bids before the auction ends.