Perpetual Daily Auctions (Mizuchi's Hoard)

Daily Auction Details

Users are able to participate in daily auctions with X28, TITANX or ETH. When a user participates in the perpetual daily auctions with TITANX or ETH, the smart contract will automatically transform your tokens to $X28 to enter into the auction. The X28 smart contract burns 50% of the TITANX that is converted to X28 via this process.

• Auctions are 24 hours each, with all tokens from each auction being distributed at the same time at the start of each day.

• 8% of the tokens in Mizuchi's Hoard will be available for users to auction for daily from Day 9 onwards.

• One Hour Cooldown: Users that enter the auction in the final hour before the auction ends must wait one hour after completion of the auction for their tokens to be claimable.

• X28 used to participate in the daily auctions will be distributed as described below:

  • 88% Buy, Burn & Fuel

  • 4% sent to $LGNDX Buy and Burn

  • 8% Genesis (No Expectations)

For the early stages of the protocol, the daily utilization of Mizuchi's Hoard may be adjustable from 3% to 20% to optimize the sustainability of the protocol and help find equilibrium with the daily Buy, Burn and Fuel utilization rate.