What is Auction Market

Future Plan and to be developed soon

The auction market is phase 3 or the third market that SPex would introduce.

Bid mechanism in general would be defined as buyers who participate in auctions bid against each other in order to win the asset through an open bidding process. They do so by placing competitive bids in an attempt to beat out the other buyers. The person who bids the highest amount wins the auction.

The market will not only have the order book but also a bidding mechanism. We will introduce special IDs (or even computing power in the future when available) to convert them into NFTs, allowing users to bid. This way would obtain more flexibility and activeness to the market, allowing more options for sellers to enjoy.

With the feature of the bidding mechanism, the auction function will be not only applicable for the Miner ID but also would implement into the following lending products.

In short, the products of SPex will keep updating and introducing, as we mentioned at the beginning, our goal is to provide the one-stop shop for liquidity and financing solution services to SPs as default tools in the Filecoin ecosystem.

More details will be revealed later when time is matured.