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:

Account

Name

Total

Lock

0x529048B64AFc0C88378C90F79DBA93d3e0f761F7

ElonMusk

1400

14-07-2022

0x300A981d5dD71B712e06f4E9763B7A67d9FDd08C

CZBinance

1200

13-08-2022

0x2c91D4adF463afE013c49d4dc22FaFc42b166925

ElonMusk

100

23-02-2023

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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