CNS single-letter & digit domains will be auctioned out at launch to the highest bidder on BictoryNFT. In the same manner, bidders can choose between one to three years of registration. The cost of domain name registration or subscription would then be calculated as the product of the winning bid price and the number of years selected.
Winning Bid Price = 100000 CCD
Subscription Period = 3 years
Total cost = 300000 CCD.
Some reminders about bidding:
a. Only CNS can list domains for bidding.
b. Minimum bid will be applied.
c. Once a bid has been submitted, bidder cannot cancel for a 7-day period.
d. Bid will be automatically deducted upon submitting but will be held by the smart contract.
e. Bidder has the option to update their bid.
f. Domain will be awarded to the highest bidder.
g. There will be bid increments of 5% from the current highest bid.
h. Losing bids would be sent back with no deductions, 100% no charge except for the gas fees.