The mechanism does not incentivize the first bidder. The mechanism incentives previous bidder. Please read the rule of Auction mechanism below:
The most important rule: 5% of the price increase for each bid
is distributed to the previous bidder
, and the remaining 95% would be the income of the auction publisher if it’s the last bid or returned to the bidder when it’s outbid.
More bids from users will keep increasing the assembled Trava Knight evaluation while auction is live. Since each bid price will be increased by at least 5% of the previous one. The incentive for previous bidder is set at 5% as well.
But of course the percentage is up for discussion/debate. 👍