Announcing Tegro Auctions

Tegro - The Gen2 Order Book DEX
3 min readJul 31, 2024

Ready to outbid your fellow crypto adventurers and bag some sweet deals? Welcome to Tegro Auctions, where your gems are your ammo, and the prize is a juicy slice of the crypto pie!

Remember, in Tegro Auctions, it’s not just about HODLing; it’s about bidding like a boss. So, grab your gems, keep your eyes on the countdown, and let’s make some big wins!

Tegro Auctions is just around the corner, make sure you’ve signed up for it!

TL;DR

  • Gems: Gems are required to enter a bid. 100 gems equals $1 bid value.
  • Starting Price: All auctions begin at a set price with no minimum reserve.
  • Price Increase: Each bid adds a pre-defined amount to the current price.
  • Countdown Timer: The countdown timer restarts with every new bid.
  • Winning: If no new bids are placed and the countdown timer runs out, the last successful bidder wins.

GEMS

Ready to power up your auction game? You’ll need gems! These shiny digital tokens are your ticket to victory. Here’s how you can stack them up:

  • Collect Gems: Place orders, join tournaments, and complete actions on Tegro’s order book DEX to earn gems. The more you trade, the more gems you collect. It’s like leveling up in a video game!
  • Check Your Gem Balance: Keep tabs on your gem stash and make sure you’re always ready to bid. If you’re running low, dive back into the Tegro DEX and keep earning those gems.

AUCTIONS

With your gem collection on point, it’s time to enter the thrilling world of Tegro auctions! Here’s how it works:

  • Enter a Bid: To jump into the auction action, you’ll need gems. 100 gems equals $1 bid value.
  • Price Increase: Each bid you place increases the auction price by $1.
  • Countdown Timer: Every new bid resets the countdown timer. Keep the momentum going and stay in the game.
  • Sequential Bidding: You can’t place multiple bids in a row. Once you’ve made your move, wait for someone else to outbid you before swooping back in. It’s all about strategy, my friend!
  • Winning: When the countdown runs out and no new bids are placed, the last successful bidder wins the auction. It’s time to claim your prize!

WINNING

Congratulations, in case you’re the last bidder standing! Here’s how to wrap up your auction victory:

  • Claim Your Prize: The last bidder is declared the winner when the countdown runs out and no new bids are placed.
  • Complete the Transaction: Once you’ve won, you can purchase the cryptocurrency at the final auction price. Make sure to complete the transaction within the set timeframe.

For example, if Alice wins the auction for 1 ETH at a final price of $500, they can purchase the 1 ETH for that amount within claim period. Go on, Alice, show the world how you bagged ETH for a steal!

How to start bidding in a Tegro auction?

Eager to dive into the action and place your first bid? Here’s how to get started with Tegro auctions:

  1. Bid in auctions using gems collected on Tegro.
  2. Each bid raises the price by $1.
  3. The auction clock restarts with each new bid.
  4. If no new bids are placed before the clock runs out, the last bidder wins.

Note: Collect gems by placing orders, participating in tournaments, and completing actions on Tegro.

Tips & Tricks

Want to become a bidding legend? Here are some quick tips and tricks to help you conquer Tegro Auctions:

  • Collect Gems: A large gem balance gives you an edge. Collect gems by placing orders, joining tournaments, and completing actions on Tegro order book DEX.
  • Bid Strategically: Avoid rapid bidding to conserve your gems and inflating the auction price. Take your time to understand and outbid your opponents effectively.
  • Observe Trends: Visit completed auctions to understand bidding trends on different cryptocurrencies and their final auction prices.
  • Different Times: Auctions might be easier to win at different times of the day. Tegro Auctions are open 24/7.

Congratulations, you’ve just completed your crash course in Tegro auctions and are ready to take it on with a smile and a stash of gems!

As you venture into the auction arena, remember that the thrill is in the chase, and every bid is a step closer to your next big win.

Keep collecting, keep bidding, and most importantly, keep having fun.

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Tegro - The Gen2 Order Book DEX

The Gen2 order book DEX for high-frequency trading. Super-fast trades, unmatched gas efficiency & market tools. Now live on Base!