Daily Auction
There is a daily auction lobby in which users bid USDC for their share of the daily pool of WHEAT tokens! Each day's auction period ends at 8pm GMT. Every day, each USDC contributed buys an equal amount of WHEAT.
The number of WHEAT tokens available in the auction lobby decreases by 1% each day:
| Day | WHEAT from lobby |
|---|---|
1 (1/30/2023) | 3000 |
2 | 2970 |
10 | 2740 |
100 | 1109 |
WHEAT auction lobby receipts can be boosted by Field NFT staking! The boost amounts are additional and not deducted from the daily total.
The daily number of tokens and rate of decrease can be reset by admin functions.
Of the USDC entered into the daily auction lobbies, 0.5% is initially taken out for the King of the Farm competition. The rest is distributed according to the following formula:
Instructions:
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