Rolling Auction

How to make and accept offers on Mintbase

Video Walkthrough

Video Walkthrough of a Rolling Auction

Text Walkthrough

On the Token Page, check the Rolling Auction section to see if any tokens are listed via auction (like in the example below).
Rolling Auction section on the Token Page
Click the See Auctions button to go to the auctions page.
Rolling Auction page

Rolling Auction Page

There are some things going on here, so let's break them down:

Minimum Offer

The lowest amount you can input as a bid. In the example above it's 0.09 NEAR.

Latest Offer

The current offer that is winning the auction. The auction only ends, if the Owner accepts an offer.

Offers Table

In this table you can visualize the offer history on the specific token.

Rolling Auctions with multiple tokens

If more than 1 token is listed as Rolling Auction, you can navigate between them in this upper tab:
Tab to navigate different auctions
In this example there are 2 tokens currently listed as Rolling Auction and one old auction that has ended (CLOSED). Both listed tokens have offers, if they were empty the tab would say NO OFFERS.

How to make an offer

Rolling Auction Page highlighting where to make an offer
While logged in, type in your offer in the Make Offer field. It needs to be higher then the Minimum and Current offers.
After you typed the Make Offer button will become active. Click it an you will be redirected to the NEAR wallet to validate the transaction. After this your offer is recorded on the blockchain.
After an offer has been made, it stays locked in the contract for 24 hours.

After you make an offer

When you make an offer, your funds get into escrow and there are 3 things that can happen:

1. The owner accepts your offer

In this case your funds go to the owner and you got yourself a new NFT. Nice!

2. Your offer get overtaken

Someone made an offer higher than yours. In this case, you don't need to do anything and your funds get back to you automatically.

3. Your offer unlocks

You have the highest offer but after 24 hours the Owner has not accepted it. In this case, you need to manually withdraw your offer from escrow. Two ways to do it:
  • On the Rolling Auction page, in the Offers table, find your offer and click Withdraw.
  • Click your profile picture in the navbar (or on mobile on the hamburger menu) and click on Earned & Orders. On the tab navigate to Open Orders. In the My Offers table, click Withdraw.
You can check in the Auction Page or in the My Offers page in how long your offer will unlock.

Keep in mind as an buyer:

  • You can check all your offers in the My Offers page (under Launchpad)
  • When you bid, you put your NEAR into escrow
  • When you get outbidded your funds are automatically released from escrow
  • The owner of the listing can accept anytime within 24 hours, or later if you do not withdraw your offer
  • After an offer you placed unlock, you can pull back your NEAR from escrow by pressing Withdraw on the Rolling Auction page, or on the My Offers page (which you can find in the Launchpad)
If you have the top offer, and don’t withdraw after 24 hours, the seller can accept it at anytime.

Keep in mind as an seller

  • You can check all your received offers in the Offered To Me page
  • After 24 hours that an offer is made, the offerer can withdraw it and you will no longer be able to accept it
Both buyers and sellers can get e-mail notifications of auction events, when turning it on on User Settings