NFT - AUCTION

OneBit SDK

The SDK will standardize all NFT assets related to the use of the Auction feature, providing a clear set of tools, documentation, and rules to help fair and efficient auction buyers and sellers.

Auctions

Auction is one of the most prominent features of the Onebit Ventures platform. This is a highly efficient mechanism of realizing a resource configuration in the face of inadequate information. Auctions can be categorized into three types of procedures for auctions depending on the occurrence of a price development during an auction run and its causes.

• Dutch auction - Partially driven by time

• English auction - Driven by bidders only

• Sealed bid auction - Single shot

Encryption algorithm

BSC NFT Protocol smart contract uses the unique encryption algorithm, encrypts all bids and ensures that all bids cannot be changed and encrypted information is irreversible.

Fixed-price contract

Fixed price can refer to a leg of a swap where the payments are based on a constant interest rate, or it can refer to a negotiated price point that is not subject to change under normal circumstances. NFT holder can sell their NFTs on the blockchain by smart contract of BSC NFT Protocol in the form of pending order and designate required for NFT.

OBT Swap

BSC Swap is a decentralized exchange for swapping BEP-20 tokens on Binance Smart Chain with many other features that let user earn token and profit. BSC Swap uses an automated market maker (AMM) model where users trade against a liquidity pool.

They can use those tokens to reclaim their share, plus a portion of the trading fees.It's faster, cheaper and anyone can use it easily even beginner

The liquidity provided to the exchange comes from Liquidity Providers ("LPs") who stake their tokens in "Pools". When user make a token swap (trade) on the exchange user will pay a 0.15% trading fee, which is broken down as follows:

0.1% - Returned to liquidity pools in the form of a trading fee reward for liquidity providers.

0.05% - Sent to the BSC Swap Treasury to buy back OBT and burn.