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Auction Bonding (V2)
- World's First Cross-Protocol Bonding Implementation -
Helena Financial is proud to be the first to present the Auctioned Bonds concept to the crypto space. This new bonding approach is set to be released after WINGS Rush. Firstly, the WINGS-BUSD Auction Bond will be unlocked through Community Achievements. The Hellenic Trust Fund will initially allocate 10,000 WINGS for this bond together with weekly refills. At the beginning of each round, The WINGS Bond will receive 3% of the tokens stored in the WINGS - BUSD Auction Contract on each round. This means the first round reward will be 300 WINGS, and the second round reward will be 291 WINGS (3% of remaining WINGS in the contract), and so on… until the contract gets depleted or refilled. Bids can be placed with BUSD Tokens and without decimals. The last bidder will always reset the round timer to 30 minutes. If no one bids over the highest last bidder within that 30-minute window, the top three bidders on the leader-board will win the auctioned bond and split the rewards respectively:
1st Place: 55% of Round Reward 2nd Place: 30% of Round Reward 3rd Place: 15% of Round Reward
The winners will not get their bidding tokens back as it is the main purpose of an auction. However other players, who got dropped from the leader-board will receive 90% of their bid amounts back.
After each auction round ends, the next round will automatically start in 30 minutes. 50% of the Collected Round Funds (BUSD) will be used for Buyback and/or Burn $HELENA Tokens. 50% of the Collected Round Funds (BUSD) will be sent to Reverse Auction Bond Reward Pool.
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