Participate in an NFT sealed-bid auction

How to participate in an NFT English auction?

1. Visit https://app.bounce.finance/ and select NFT auction house at the top right of the page.

2. Select NFT sealed-bid auction under pool type.

3. Find the NFT auction to participate in. Pay attention to the token contract address to ensure you enter the correct pool. If everything is correct click join and enter the NFT auction page.

4. To participate in a sealed-bid auction, enter the following parameters:

• Bid swap ratio: the price you want to pay per token. This amount can not be lower than the floor swap ratio.

• Bid amount: the amount in ETH you want to spend.

5. Check the status of your bid by clicking “check your bids” button. Once a bid transaction is executed, it can not be cancelled or withdrawn, as long as the auction is live.

6. Click go and confirm the transaction in MetaMask (or any other wallet you use).

If a transaction error with very high gas fee (usually over 200 USD), appears please do not proceed and go back to the parameter page to check if everything is entered correctly.

7. Pool participants need to come back to manually claim the NFT or unswapped ETH back. This can be done in one transaction at the end of the auction.

A user can make only one bid transaction in one sealed-bid pool.