Auction Basket
Auction Basket is the community-driven buy-back mechanism. This system ensures that the platform’s success translates directly into benefits for $NBZ holders. Here’s how it works:
Weekly Auctions: Part of revenue generated is placed in the Auction Basket, where users can bid using $NBZ tokens. The highest bid wins.
Token Burning: $NBZ tokens used in the winning bid are burned, decreasing the circulating supply.
Liquidity and Value Growth: This mechanism enhances liquidity and ties the token’s value to the platform’s growth and adoption.
Example (illustrative amounts):
During a week, platform revenue was 1,000 INJ.
This entire amount is placed in the Auction Basket.
$NBZ holders bid their tokens in an auction. At the end the highest bid is equal to 200,000 $NBZ.
The highest bidder wins 1,000 INJ.
200,000 $NBZ tokens from the winning bid are burned.
This process repeats weekly, creating a consistent cycle of value generation.
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