Auction Period: -- - -- (UTC)
- Eligibility· Complete the account verification.
When an auction's time expires, the ASDP items will be sold at the final bid price.
Terms & Conditions
- 1. Total Items: -- USDT; Suggested Opening Bid: -- USDT.
- 2. When a user places a first-time bid for the auction, the user must enter a bid price and an item amount to bid for. The first bid price must be lower than the suggested opening bid.
- 3. Specific ASDP positions paid for the bid will be deducted after a user successfully places a bid. Then, a bid order will be generated and displayed under the [My Bid] tab on the Auction page.
- 4. A user can submit their bid multiple times. When a user submits a new bid, the user needs to update the bid price or item amount via the Auction page - [My Bid]. The new bid price cannot be higher than the last one, and the new item amount cannot be lower than the last one. ASDP positions that increase will be deducted after the bid update.
- 5. The price and item amount of the most recent bid will be considered as the user’s final bid.
- 6. After the auction concludes, users will be ranked by their final bid prices in ascending order (from the lowest bid price to the highest). When multiple bids are placed at the same price, the bid that was placed first or earliest will prevail.
- 7. After the auction concludes, the lowest bid price that can cover the cost of all the items will be deemed as the final settlement price. A final bid price higher than the final settlement price will be deemed as a failed bid; A final bid price equal to or lower than the final settlement price will be deemed as a successful bid. Winning bids will be settled based on the order ranking using the calculation [Final Settlement Price*Winner's Item Amount], until all of the Items are fully distributed.
- 8. For users who don't win a bid, ASDP that was deducted will be refunded to the users' accounts within four hours after the auction's conclusion. USDT for bid winners will be distributed to the winners' accounts within 24 hours after the auction's conclusion.
- 9. All ASDP deducted for winning bids will be permanently locked up.
- * AscendEX reserves the final right to interpret and adjust these Terms and Conditions. For any abusive or suspicious activities identified, the users will be disqualified from the auction.