# Land Auction - 12 March

## About Land

{% content-ref url="../land/land-intro" %}
[land-intro](https://docs.sss.game/land/land-intro)
{% endcontent-ref %}

## Auction Information:

Website: <https://auction.sss.game>

Start time: Block 719292 (<https://blastscan.io/block/countdown/719292>)&#x20;

Network: Blast

Buy with: Any wallet, land is a transferrable NFT

### Troubleshooting:

We recommend using desktop setup for this.&#x20;

If you face any trouble with page loading, please clear the browser’s cache:

1. Press F12 key (or Right click to the page, then select Inspect)
2. Select Application tab
3. Select Local storage and right click to the item “<https://auction.sss.game>”
4. Select clear from the menu
5. Refresh the page

<figure><img src="https://content.gitbook.com/content/u7nx38GRSqwdcX28CmLF/blobs/T5wG7cDTcHY8qj0kkHcY/image.png" alt=""><figcaption></figcaption></figure>

### Auction Process:

The price starts high and drops by a fixed amount every 1 hour until it reaches the floor price.

All bidders will receive land at the floor price, regardless of when the bid is placed.&#x20;

### Price

The Auction starts at 3.33 ETH.&#x20;

Every 1 hour, the price drops by a fixed amount of 0.03 ETH.

The auction continues until all 500 Land has been sold.&#x20;

### Price Example

| Round | Price (ETH) | Time  |
| ----- | ----------- | ----- |
| 1     | 3.33        | 8 AM  |
| 2     | 3.30        | 9 AM  |
| 3     | 3.27        | 10 AM |

### Bidding

Multiple bids can be submitted in each round, and over different rounds without limitations.&#x20;

### Bidding Example&#x20;

Example Account bid in round 1,5 and 12, and expects to receive 6 Land.&#x20;

<table><thead><tr><th width="106">Round</th><th width="195">Current Price (ETH)</th><th>Bid Amount (ETH)</th><th width="182">Expected (Land)</th></tr></thead><tbody><tr><td>1</td><td>3.33</td><td>6.66</td><td>2</td></tr><tr><td>5</td><td>3.21</td><td>3.21</td><td>1</td></tr><tr><td>12</td><td>3</td><td>9</td><td>3</td></tr></tbody></table>

### Bidding Example (cont.)

Finally, the auction end in Round 42, at 2.1 ETH.&#x20;

* The Example Account contributed a total of 18.87 ETH
* The Example Account receives 8 Land
* The Example Account gets 2.07 ETH as refund.&#x20;

### Refund

The refund is calculated based on the floor price. The refund amount should be less than the floor price, with some exceptions.&#x20;

### Price Formula

The price is determined by the following formula: \
\
Price = startPrice - (blockNumber - startBlock) / blockDelta \* stepPrice, if price < floor price --> price = floor price\
&#x20;

Floor price = 0.01 ETH\
Start Price  = 3.3 ETH\
stepPrice = 0.03 ETH\
blockDelta = 1800