Create an NFT English auction

How to create an NFT English auction

1. Visit https://app.bounce.finance/ and select NFT auction house on the left top corner.
2. Click create auction button and the selection window pops up.
3. Select NFT English auction and click confirm to go to the create a fixed swap pool page.
4. The pool settings page consists of two sections.

The contract information section:

    Token type: select ERC721 or ERC1155. Find the token type on https://etherscan.io/
    Token contract address and token ID: find the token contract address and token ID on Etherscan or https://opensea.io/ (connect with Metamask or any other eligible wallet)
The NFT content will be automatically queried from Etherscan.

The pool settings section:

    From: is auto filled after entering the contract address
    To: the currency to receive for the auctioned assets. On the Ethereum network the options are ETH and USDT. On Binance Smart Chain the options are BNB and USDT.
    Starting price (floor price): the lowest price to start bidding on the NFT
    Pool name: for participants to identify the auction on the Bounce homepage
    Bid confirmation period: the time that the auction will be available. With every new bid, the confirmation period restarts.The period ends when the highest bid gets no more higher bid within this time window.
    Minimal bid price increment: the minimum price increase to bid from the last highest bid
    Participant:
      Public opens the auction to everyone,
      Bot holders opens the auction to users who hold at least 0.5 bot in their wallet
      Private opens to exclusive users or groups secured by password
5. Once all parameters are entered, click the launch button and approve the transaction in Metamask (or whichever wallet used). Two transactions are needed to launch the auction:
    Approve spending limit:
    Approve Contract interaction:
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.
Last modified 10mo ago
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