3. Is there the lowest bid requirement

Later bids must be higher than the previous ones by at least 5%. Only bids in the same payment token in the auction will be considered as the winning bid.

During the last 10 minutes of an auction, if someone places a bid that is higher than previous ones, the auction will automatically extend by 10 minutes. Also, cancellations to the top bid will trigger an extension for a period of a week.