NFT Trading Market
The YooShi NFT market is divided into two sectors, one is trading and the other is auction. The trading market is where NFT holders offer prices to allow other players to make purchases, while YooShi's NFT Auction Market is more interesting, with each bidder requiring a fixed 10% higher bid than the previous bidder, and even if bidders don’t win the NFT eventually, they will receive 20% of the next bidder's premium as a reward.
Mr. Y posted a YooShi Gangnam Style NFT on the YooShi NFT auction market with a starting price of 100 BNB.
Alice makes the first bid with the starting price of 100 BNB. Bob makes a second bid, and his bid should be 10% higher than Alice's bid, so Bob's bid is: 100 + 100*10% = 110 BNB.
Bob outbid Alice, but Alice would get 20% of the premium, i.e. 100*10%*20% = 2 BNB. Mr. Y will get 80% of the premium, i.e. 100*10%*80% = 8 BNB. In the meantime, Alice's bid will be refunded in full.
In the event that the auction ends or there is no further bid, the transfer of assets between Mr. Y, Alice and Bob is as follows:
Bob: Pay 110 BNB and get YooShi Gangnam Style NFT from Mr. Y; Alice: get 2 extra BNB; Mr Y: get 108 BNB by selling NFT.
In addition, YooShi NFT auction market will charge 3% service fee to Mr. Y, namely: 108 * 3% = 3.24 BNB. Therefore, Mr. Y ended up with 108-3.24 = 104.76 BNB from the YooShi GangnamStyle NFT auction. YooShi NFT trading market will charge a service fee on PancakeSwap exchange $YooShi and redistribution, specific as follows: 50% will be sent to the address for destruction hole; 40% will go into YooShi NFT Farming Pool; 10% goes to the developer.
The service fee charged by YooShi NFT trading market will be swap for $YOOSHI on PancakeSwap and reassigned, as follows: 50% will be sent to the black hole address for burn, 40% will be injected into YooShi NFT Farming Pool, and 10% will to go the developer.