auXm

The Infrastructure layer: auXm

auXm – is the infrastructure layer using which anyone can launch their own auction house with ZERO coding. The auction house hence launched is customizable, supports 8 auctions out-of-the-box and is configurable. The word auXm – is indicative of “Auctions powered by AuctionX platform”.

auXm empowers you to launch your business into auctions. AuctionX will keep adding additional auction mechanisms over time. The underlying token for all auction houses riding on auctionX – will be the same : $AuX

The will increase the consumption and utilization of $AuX token and will help drive its price up.

Listed below are the auctions which are part of the AuctionX platform as of date –

• The Last Play

• English Auction

• Dutch Auction

• Lowest Unique Bid

• Highest Unique Bid

• Charity Auction

• Vickrey Auction

• Discreet Auction

To signup as an auction house, an entity will have to stake a pre-defined number of $AuX tokens. There are robust safety mechanisms defined by AuctionX to safeguard the interests of bidders and winners - when they participate in auctions as held by various auction houses. The auction houses, would NOT be in direct control of AuctionX - and will work like independent businesses - but will be governed by the rules and protocols as defined by the governing body of AuctionX.