📅 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
Method: Obtain Blaze Tokens using $ETH at daily auctions.
Auction Schedule: New auction every 24 hours. (see protocol launch and liquidity formation for more details).
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
What are the requirements to obtain Blaze Tokens?
You need $ETH to participate in the daily auctions.
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.
What is Batch Power/Auction Power in the auction?
It determines the token allocation capability of a Batch, ranging from 1% to 100%.
What is the payment structure for purchasing a Batch?
Payment is all ETH for Minting.
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
Are the prices for Batches fixed?
Yes, 0.2 ETH is one auction (1 batch) at the time of the auction.
How long does each auction last?
Each auction runs for 24 hours.
How are Blaze Tokens distributed after an auction?
They are distributed among Batch holders, who must claim their tokens from the contract.
What happens when one auction ends?
A new auction starts with a slightly reduced number of tokens to be minted.
Can users purchase multiple Batches in one transaction?
Yes, there's functionality for Batch Buy.
Last updated