NFT Buyout
1. Initiating a Buyout
- Enter the NFT Fractional Market.
- Select the Domain NFT you wish to buy out and click the "Buyout" button to initiate the operation.
- Each buyout bid must be at least 1% higher than the previous valid bid; otherwise, it cannot be submitted.
2. Auction and Outbidding Rules
- A buyout action triggers an open auction process. During the auction period, any user can participate by placing a higher bid.
- If a higher bid occurs during the auction:
- The previous bidder's funds will be automatically refunded to the original source.
- The current highest bid will be updated to the latest valid price.
- Time Extension Rule:
- If a new valid bid is placed within the last 15 minutes of the auction.
- The auction end time will be automatically extended by 15 minutes until no further bids occur.
3. Buyout Completion and Asset Settlement
- After the auction ends, the highest bidder will successfully complete the buyout and gain full ownership of the Domain NFT.
- Original fractional holders can redeem their fractions for the corresponding auction funds from the pool according to the protocol rules.
- All settlements and asset transfers are completed via blockchain smart contracts; results are subject to on-chain records.
Tips & Notices
- All fractionalization operations are executed on the blockchain; there may be delays in transaction confirmation.
- Please wait patiently until the transaction is complete and avoid duplicate submissions.
- Buying out an NFT does not constitute any form of value commitment or investment guarantee.
