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- World's First Cross-Protocol Bonding Implementation -
The NMS LP Bond will allocate 1% of the remaining tokens in the contract each round. This means round rewards start at 1,000 NMS LP and decrease gradually until the bond depletes. Bids are placed using HELENA V2 tokens, requiring at least a 3 HELENA V2 increase over the previous bid. (Avoiding last-minute bidding is advised due to potential network congestion and delayed block updates as the contract timer counts blocks). A round begins with a 360-minute timer; if there are less than 30 minutes remaining, the last bidder resets it back to 30 minutes. If no bids occur within this window, the top five leaderboard bidders will share the rewards as follows:
1st Place: 50.00% of Round Reward 2nd Place: 25.00% of Round Reward 3rd Place: 12.50% of Round Reward 4th Place: 7.50% of Round Reward 5th Place: 5.00% of Round Reward
While winners do not receive their bidding tokens back, as the auction emphasizes competition, players who drop from the Top 5 Leaderboard will receive 90% of their bid amounts back. Consequently, a 10% bidding fee will be deducted upon expelling from the leaderboard.
After each round, the next one automatically begins with the first bid, triggering the distribution of the previous round's rewards. HELENA V2 collected by contract being allocated accordingly: 50% of collected HELENA V2 Burned by being sent to the dead address. 50% converted to BUSD and added to NMS LP Reward Pool.