Auction
Auction is a feature on Dagora that helps NFT’s owner sell their items at the highest price. It’s a process of offering bids, taking bids, and then selling NFT to the highest bidder.
Currently, selling NFTs to the lowest bidders is not supported yet.
How to Create an Auction
🛠️ Connect Coin98 wallet | 💵 Cost gas fee | 👜 Have NFT
Step 1: On Dagora, access your Profile by clicking on the profile logo;
Below is the user profile space:
Step 2: Select a specific NFT item -> On its details screen, click the Auction button;
Step 3: Fill in the information on the Auction screen:
Input a Starting bid price (Price must be greater than 0.0001)
Choose token that you want to pay with
Input a Maximum bid price
Choose Duration (Note: You need to check the auction's duration carefully before creating an auction, canceling the auction at any time is not allowed. )
A valid completion of the auction form will enable the Listing button
Step 4: After clicking Listing button, you will see a Review Auction Listing page. Click Confirm to create auction and move NFT to blockchain's contract.
Step 5: If create auction completed, you will see a notification.
Click Continue Listing → You will be directed to your Profile page to continue listing
Click View NFT button → Click to view NFT details
Click View Transaction button to open a new tab to see the transaction history on blockchain
How to Place a Bid
🛠️ Connect Coin98 wallet | 💵 Cost gas fee | 👜 NFT is being auctioned
Step 1: On Dagora, go to Explore space to find active auctions.
You will see a NFT list on Explorer space:
Step 2: Select a specific NFT item is on auction and in details screen click Place Bid button;
Step 3: Enter a bid price then click Place Bid button (The input price must be less than or equal to the current balance. Otherwise, it will display a message “Insufficient funds“)
Note: The price must be greater than or equal to the starting price and higher than the current bid price
Step 4: Click Confirm button on Review Bid page to complete auction.
Step 5: View your Auction
In NFT details page -> Auction tab -> Display the item’s auction list
Notes:
User can bid more than once, but the next time must be higher than the previous time
The amount that the user has bid remains in the wallet and will not be deducted until the end of auction if they are the winner.
The auction will be ended when duration is over, or someone has made “Maximum bid”
When auction ended, there are some cases that happen as below:
Case | Non-EVM (Sei, Injective) | EVM |
The user bids successfully |
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The user bids unsuccessfully |
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User wins but not enough token to pay owner |
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After the Auction ended and there is no winner |
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How to Cancel The Auction when the auction ends
Note: Canceling the auction at any time is not allowed. Therefore, you need to check the auction's duration carefully before creating an auction.
For non-EVM chains, in case there are no bids within the first 6 hours since the auction starts, you can cancel the auction. After 6 hours, you must wait until the auction ends and can only cancel it at that time.
Step 1: On Dagora, access Profile by clicking on profile logo at the top right corner of the screen;
Step 2: In profile space -> Open Auctions tab;
Step 3: Click End Bid button in the list NFT to open the NFT details page and click Cancel Auction button;
Step 4: Adjust Gwei/Gas fee by scrolling the yellow button;
Step 5: Click Confirm button to cancel auction -> You will receive a "Success" notification.
Click Confirm button to close pop-up
Click View Transaction to open a new tab to see the transaction history on blockchain
After that, the NFT item will be moved from the Auctions tab to the Items tab and it will be displayed as a detail page as shown below:
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