Auction House

AuctionX provides an infrastructure layer to launch and host your own auctions. It provides auction-as-a-service. Through the simple and intuitive admin panel as provided to each auction house, anyone can access a range of services, such as user/bidder registration, choosing an auction mechanism, adding auction assets, scheduling auctions, configuring auction registrations, publishing and launching auctions and more. AuctionX infrastructure makes setting up digital auctions very simple and efficient. Auction setup can also be fully customized to meet the specific needs of the auction host while maintaining the decentralized, on-chain, security that sets AuctionX apart from other digital auctioneers.

And with our soon-to-be-released plug-in: emX, anyone will be able to host a auction on their own website for a more inclusive experience.

Fees to Auction Houses Auction houses will have to stake $AuX tokens (of some equivalent USD value) to launch their own auction business. The staking automatically gives them voting rights in the governance of AuctionX. To cease the business, the auction house will have to unstake the $AuX. There will be a cool-off period of 3 weeks before the funds are transferred back to the auction house admin wallet. The auction house will be allowed to publish auctions of assets whose combined value does not cross the value of the stake. If an auction house wants to auction premium assets they will have to raise the stakes in accordance to the value of the assets.

Auction House signup

Admin Panel Each auction house will have an admin panel - which comprehensively shows all parameters of the auction business. Each bid, each transaction, all auctions, all bidders, history, configurations, auction assets, analytics etc. - all can be viewed and managed from the admin panel.