Community
Customer Support
Help

Freela (FREL) Auction

Freela is a first DeFi powered and self-governing DAO designed to act as a decentralized platform for freelancing transactions. It serves for both B2B and P2P commission-free transactions matching skilled freelancers for job postings worldwide.

Official Website

|

Whitepaper

|

FREL IntroductionFREL Introduction

Total Quota

--

Bid Item

--

Total Bids

-- (Standard: -- | Uncapped: --)

Bidding Process

1

Warm-Up

2

Auction

3

Random Draw & Auction Code Submission

4

Distribution

Auction Period: 1:00 p.m. UTC - 2:00 p.m. UTC, May 26, 2021.

Standard Auction (--)

Starting Bid:

--

Bid Cap:

-- + -- ASD / -- ASDP

Uncapped Auction (--)

Starting Bid:

--

Bid Cap:

-- + Uncapped ASD / Uncapped ASDP

Eligibility
Read and agree to FREL Auction Agreement Read and agree to FREL Auction Agreement
Participants are required to complete KYC 2 verification.
Users from the following countries/regions are not eligible for participation:
The United States, Balkans region, Belarus, Myanmar, Côte d'Ivoire, Cuba, Democratic Republic of the Congo, Iran, Iraq, Liberia, North Korea, Sudan, Syrian Arab Republic, Zimbabwe, Algeria, Bangladesh, Bolivia, Cambodia, Ecuador, Nepal, Afghanistan, Burundi, Central African Republic, Singapore, Malaysia, Ethiopia, Guinea, Guinea-Bissau, Lebanon, Sri Lanka, Libya, Serbia, Somalia, South Sudan, Thailand, Tunisia, Trinidad and Tobago, Ukraine, Uganda, Venezuela, and Yemen.
Eligibility Rules:
Eligibility requirements for Standard Auction: Trailing 6-day average ASD holdings ≥10,000 ASD or trailing 29-day trade volume ≥30,000 USDT (not applicable for Uncapped Auction).
Auction Results

Standard Auction You did not bid in this auction.

Go Submit >

Uncapped Auction You did not bid in this auction.

Go Submit >

Summary

Two separate auctions (Standard & Uncapped) will be held simultaneously. Each user account can bid in both auctions.

FREL Standard Auction

Price discovery with a minimum and maximum bid amount.

Participate by bidding 100 USDT + up to 45 ASD or 1125 ASDP. AscendEX users can earn the eligibility to bid for additional FREL based on their trailing 6-day average ASD holdings or trailing 29-day trade volume. If more than 750 bid items with 150 USDT + 45 ASD / 1125 ASDP, a random draw will be conducted to select winners. Bid the cap for your eligibility to win. Learn More > Learn More >

FREL Uncapped Auction

Price Discovery with a minimum bid amount and no maximum.

Participate by bidding 100 USDT + as much ASD / ASDP as you’d like. The auction will close at your bid or better if you are amongst the top-250 best bids. Bid aggressively to win. Learn More > Learn More >

Notes

1. From 1:00 p.m. UTC to 2:00 p.m. UTC on May 26, users can place bids in both the Standard and Uncapped auctions. Only USDT, ASD, and ASDP in a user’s Cash Account can be used as payment in the auctions. Users can submit bids multiple times. Once a new bid is submitted successfully, the corresponding amount of additional ASD or ASDP will be deducted from the user’s Cash Account. The last bid outstanding will be deemed as the user’s final bid.

2. To increase likelihood of winning in the Standard Auction, a user should monitor the 750th bid closely and submit bids that are greater than or equal to the 750th bid. If the Bid Cap is submitted by >750 participants, a user can still have their bid being included in a random draw by submitting the Bid Cap.

3. To increase likelihood of winning in the Uncapped Auction, a user should monitor the 250th bid closely and submit bids that are greater than or equal to the 250th bid. The Uncapped Auction will close at the USDT + ASD or ASDP price submitted by the 250th best bid. It means that a user can bid a ASD (or ASDP) quantity well above the 250th bid and potentially have their bid partially refunded. The logic of the Uncapped Auction is designed to achieve that all winners will pay the same price; Therefore, a user does not need to be concerned about paying a premium relative to other participants in the Uncapped Auction.

4. For users who do not win the bid, their USDT and ASD (or ASDP) bids will be fully refunded within 2 hours after the auctions.

5. At the end of auctions, winners need to submit the AscendEX account and auction confirmation code on Freela's official website by May 27, 11:00 a.m. UTC. Failure to timely submit the required information will be deemed as the users’ voluntarily forfeiting their bid item(s). In the event of such forfeiture, the USDT and ASD (or ASDP) bids will be refunded by May 27, 4:00 p.m. UTC.

6. Bid Item Distribution Window: May 27, 11:00 a.m. UTC - 2:00 p.m. UTC.

7. AscendEX reserves the final right to interpret and adjust these Terms and Conditions. For any abusive or suspicious activities, the users will be disqualified from the auction once identified.