I think the ceiling price it is a good idea, it will help more bidders can join in the auction

@icezick It's a good idea but maybe it will make the competition among bidders more aggressively because bidders have to bid quickly before the sellers close the auction

Hello @victoriaph.
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. 👍

I think it should be shorter, just in 3 days. The urge of time shows that The NFT armory should belong to someone who really wants it and pays attention to the auction