Following the launch of the airdrop mechanism, which broke through 150000 users in one week, and the soaring currency price of WBF exchange online, TORO network recently will launch a big move to create the next round of currency hot topic!
What’s the attraction? That’s the TORO network’s blind auction is about to start. I believe that many people can’t help but ask, what is blind auction?
As the name implies, blind auction refers to the way in which participants can not see other people’s bids and transaction prices in the bidding process. TORO’s blind bidding rules are similar to the dark bidding often used in bidding. Participants can only see the number of participants in each stage and the number of TOROs in the remaining bidding. The whole blind auction is divided into three stages, the first stage is 1.8 million TORO, the blind auction interval is 0.1 USDT-0.2 USDT; the second stage is 2.8 million TORO, the blind auction interval is 0.15 USDT-0.3 USDT; the third stage is 4 million TORO, the blind auction interval is 0.2 USDT-0.4 USDT. Once all bidders have set their bids and the number of bids, the list cannot be cancelled within one hour.
If the auction is successful, the system will immediately close the deal and pledge the successful TORO to its own mining machine. The maximum auction quantity depends on the memory size of its own mobile phone. At the moment when the user downloads the TORO app, the system will automatically identify the memory size of the user’s mobile phone model. If the user does not purchase additional memory in the app, the maximum amount of money is the memory size of his mobile phone. For example: the memory size of a user’s own mobile phone is 256g. In the first stage of blind auction, a can directly offer a maximum price of 0.2 USDT for up to 25600 TOROs. Because it is the highest price in the first stage, it means that the auction is successful, and the system will automatically transfer the 25600 TOROs successfully captured to the mining machine for pledge mining.
If the bidding has not been completed within one hour, the bidder can increase the price to improve the success rate of the bidding. For example, in the first stage of blind auction, B bid 0.17 USDT, but failed to make a deal within one hour after listing. In order to successfully capture the TORO, B can continue to bid up to 0.18, but the range of price increase cannot be higher than the maximum bid limit of the corresponding blind auction stage, until the auction is successful, or the listing has not been successfully cancelled after listing for one hour.
That is to say, if the auction fails to be completed one hour after the offer, it means the auction fails and the system will return all USDTs to the bidder’s account. Bidders can cash in or bid again for a new round of bidding.
TORO network can be said to be the most innovative Star project among many projects in the currency circle in recent years. Among the innovations of TORO, the first blind auction mechanism is the most unique, which not only integrates the characteristics of traditional auction, but also highlights the advantages of auction.
In order to create a stronger consensus and cohesion, TORO fans can better feel the charm and power of TORO network. On May 25, 2020, TORO will hold an offline Chinese community consensus conference in Shenzhen, where 300 blockchain experts, industry tycoons, media guests and many community leaders will be invited to attend the conference to witness the creation of currency circle miracle in 2020 by TORO network!
It is not hard for us to foresee that after the global simultaneous launch of TORO blind auction mechanism on May 25, FOMO expression in the currency circle, chain circle and project circle will be ignited, and the blind auction mechanism will be sought after by numerous investors and imitated by many competitors! This means that the best investment direction of the new round of currency circle is coming. Have you seized the opportunity?