Daily Auctions

Overview

Following the conclusion of the Reserve Auction period, KittyPunch will launch Daily Auctions. These auctions will provide users with the opportunity to bid on new 1/1 KittyPunch NFTs every single day. The structure of our daily auction system ensures a steady and predictable increase in the supply of KittyPunch NFTs, creating a dynamic and engaging experience for participants.

How It Works

• Daily Auctions: Users will be able to participate in auctions for new 1/1 KittyPunch NFTs every day.

• Pricing: Bids will be made using Flow (FLOW).

• Auction Process: Each auction will run for 24 hours, with the highest bid at the end of the period winning the NFT. The competitive nature of the auction ensures an exciting and fair bidding process.

Benefits

• Known Inflation: The daily issuance of new KittyPunch NFTs provides a transparent and predictable supply, which helps maintain the value and appeal of the NFTs.

Proceeds and Treasury

All proceeds from the KittyPunch auctions will be deposited into the decentralized KittyPunch treasury. This treasury is a vital component of our ecosystem, as it generates yield for the NFT Punch Vault. This yield is distributed to participants who lock their assets in the Punch Vault, providing ongoing rewards and incentives.

Core Contributor Rewards

Every 10 days, a KittyPunch NFT will be withheld from the daily auctions and delivered to the core contributors of the KittyPunch project. This ensures that the developers and key contributors are recognized and rewarded for their ongoing efforts to build and maintain the platform.