Blockchain Related Applications Guide
Top Bidder Auction Application
Top Bidder is a EOS blockchain based application created for premium EOS accounts' auction. Every auction will start with 0.05 EOS to purchase account and each bid will increase the existing price by 10%. During the auction, bidder can earn 75% of the profit when he gets out-bidded over his previous bid, the remaining 20% profit will go into the prize pool and 5% will go to the referrer.
The top bidder will win the permission to create the auctioned account and acquire as well the prize pool’s dividends if the account has not been bidded by a higher price for over 12 or 24 hours. Accounts to be selected for the auction list are decided over a voting system, users can submit or vote up to 10 new accounts each day in the reserve pool. Once an auction is completed, the account with the most votes in the reserve pool will automatically be put up for the next auction.
Users will need to participate in at least one bidding or vote before they can send an invitation link to their friend to participate in the bidding. The user can then acquire 1% of his or her friend’s bidding premium participation as a reward.