Daily auctions

Starting after the 4 week mint phase (Day 29) daily auctions will begin where 1% of the Auction balance is up for grabs. Users will need to deposit Titanx to participate.

The auctions start at 'X time' every day and last 24 hours. Users that enter the auction during the first 23 hours will be able to claim their Phoenix directly after the auction ends. Users that enter the auction during the last hour will have to wait 1 hour after the auction ends to claim their Phoenix. This is to help prevent bad actors entering Phoenix auctions just to dump the tokens for a quick ROI when they end.

50% of the brought Phoenix tokens from the buy&burn / buy&bid are sent to the Auction balance. Everyday, 1% of this balance is auctioned off for Titanx. Ideally, the auction will close near breakeven ROI, meaning participants will have paid close to market value for the available Phoenix Tokens. The Titanx received will be split as follows:

Destination:	Percentage:
Phoenix buy&bid / buy&burn	80%
Genesis	5%
Titanx stake	6.5%
Flux stake	6.5%
Blaze stake	2%

In this way a steady inflow of Titanx will enter Phoenix further fueling the buy&burn/ buy&bid balance and supporting its three stakes.