Submit auction transaction
Users who want to own NFT need to submit an auction transaction to the smart contract that manages the NFT auction. An auction transaction has the following properties:
"name" that the user wants to own (This name is unique, did not exist in previous NFTs)
The price (in CAL tokens) that the users are willing to pay.
AuctionName = ElonMuskAmount = 1500Auction Contract
A person can submit an auction transaction multiple times for the same name. The person's auction-ranked CAL tokens will then be equal to the total number of submissions. A daily auction ranking would have the following structure:
When a wallet address auctions for a name, CAL tokens will be locked in that smart contract, and will only be unlockable 7 days after the last transaction was sent. At 00:00 UTC every day, the system will select the account/name pair with the largest total and mint NFT.
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