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πŸ“… Auctions

You can mint the Blaze Token by participating in the Daily Auctions.

Join the Blaze Token bonfire, where ETH stokes the flames of an ever-shrinking, red-hot auction, sparking a frenzied marshmallow roast for crypto enthusiasts to grab their piece of the toasty, limited-supply Blaze pie!

Blaze Token Acquisition

Token Deflation and Supply

  • Deflationary Nature: Daily decrease in Blaze tokens minted at a rate of 0.08%.

  • Capped Supply: Maximum of 11,000,000 Blaze tokens, minted over 18 years.

  • Daily Decrease Example: Day 1: 8,888 tokens, Day 2: 8,880 tokens, Day 3: 8,873 tokens, etc.

Unique Auction Mechanism

  • Auction Format: Non-traditional auction - participate by joining a group/pool with a fixed payment.

  • Participation Requirement: Secure Blaze Token from daily auctions.

  • Batch/Auction Power: Determines token allocation capability (1% to 100% in terms of percent).

Purchasing Batches

  • Payment Method: Pay in ETH.

  • Batches / Auctions: 1 entry ( up to 100 power ) into an auction is 1 batch , multiple entries (up to 1000 power ) is 10 batches.

  • Pricing: Each auction is 0.2 Eth

  • Power explanation and Payment Example:

    • 100 Power: Pay 0.2 ETH.

    • 50 Power: Pay 0.1 ETH.

Auction Duration and Token Distribution

  • Auction Duration: Each auction lasts 24 hours.

  • Token Distribution: Minted Blaze tokens distributed among Batch holders post-auction.

  • Claiming Rewards: Batch holders claim rewarded tokens from the contract.

Continuous Auctions

  • Sequential Auctions: A new auction starts after the previous one ends, with a decreased number of minted tokens available.

Additional Features

  • Batch Buy: Purchase multiple batches in one transaction.

How is Value coming into Blaze Used

  • Reward Pools - 64%

  • Burn Mechanics - 20%

  • Founders Allocation - 8%

  • Future Development - 8%

Frequently Asked Questions about Blaze Auctions

  1. What are the requirements to obtain Blaze Tokens?

    • You need $ETH to participate in the daily auctions.

  2. How does the auction for Blaze Tokens work?

    • It's a group/pool-based auction, not a typical bid-and-win. You pay a fixed amount to participate.

  3. What is Batch Power/Auction Power in the auction?

    • It determines the token allocation capability of a Batch, ranging from 1% to 100%.

  4. What is the payment structure for purchasing a Batch?

    • Payment is all ETH for Minting.

  5. How is the price of a Batch determined?

    • It depends on the Batch's Power. For instance, a 100 Power Batch would cost 0.2 ETH

  6. Are the prices for Batches fixed?

    • Yes, 0.2 ETH is one auction (1 batch) at the time of the auction.

  7. How long does each auction last?

    • Each auction runs for 24 hours.

  8. How are Blaze Tokens distributed after an auction?

    • They are distributed among Batch holders, who must claim their tokens from the contract.

  9. What happens when one auction ends?

    • A new auction starts with a slightly reduced number of tokens to be minted.

  10. Can users purchase multiple Batches in one transaction?

    • Yes, there's functionality for Batch Buy.

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