Notice 05 | Platform Updates

James Duchenne
lootnft
Published in
2 min readJul 11, 2021

We are pleased to announce the following updates scheduled for release on our platform:

(a) Arena Information Icon: Members will now be able to view additional information in the “”Battle Pit”” section by clicking on the information icon. This will include the total number of bid bots (as of 12:00 UTC Sunday 11 July 2021), the number of bidders in the auction, and the combined total allocation amongst all bidders at a particular point in time (as of 12:00 UTC Monday 11 July 2021).

(b) Restrictions on Bid Bot: To ensure fairness in the bidding process, we will be implementing a limit on the bid bot allocation per member per auction. The limit will be set at 10,000 per auction, effective from 12:00 UTC Tuesday 13 July 2021. Please note that this change will not be retroactive.

© Next Auctions: We will be releasing several features on the platform over the next 14 days. The next auctions will be held in the battle bidding zone at 12:00 UTC on 25 July 2021. During this period, we will conduct an audit of all account balances to ensure that our systems are operating as expected. We will provide a separate notice to advise you of all releases made.

(d) Oven: We have increased the oven rewards for members achieving degrees to 20, 40, 80, 140, and 220% weightage, up from 10, 20, 40, 70, and 110%.

We hope that these updates will enhance your experience on our platform. Happy bidding!

Learn more about Loot NFT! Visit: lootnft.io

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