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Auction Information

Eika4 edited this page Jul 29, 2019 · 25 revisions

A total of one billion (1,000,000,000) Petra were created in the genesis block, and are auctioned off daily to the public.

The Petrachor Auction consists of a series of individual 24 hour auction periods. You can contribute any amount to the Petrachor auction. Your reward is determined by

auction calculation

Each auction will begin and end at 24:00 UTC. A contribution must have at least one confirmation. Contributions received at exactly 24:00 will be included in the ending auction. Contributions received after 24:00, will be included in the next auction period.

The total amount distributed in each auction will equal 0.2% of remaining Petra. The minimum amount distributed in a daily auction is 100,000 PTA.

Sample

  • Auction period 1 = 2,000,000 PTA
  • Auction period 2 = 1,996,000 PTA
  • Auction period 3 = 1,992,008 PTA

Instructions

  1. Install the Petrachor node software and generate a Petrachor address.

  2. You must have possession of your Ethereum private keys. Skip to step 3 if you know what you're doing. If you have never created an Ethereum wallet before, one option is to install MetaMask as an extension in your Chrome or Firefox browser. Once the MetaMask wallet is installed, transfer Ether to your MetaMask address.

  3. View the Petrachor Auction Address to see how much Ether has been contributed to the current auction period. Remember that each daily auction begins and ends at midnight UTC. Your reward is relative to the total contribution from each auction period.

  4. Create an Ethereum transaction. MyEtherWallet has a simple interface to help execute this transaction. Connect your Ethereum wallet, navigate to Send ETH & tokens, input the Ethereum address below, toggle the "Data & Gas Limit" ON, input your Petrachor address in the field labeled "Add Data". The "Gas Limit" field will automatically update for you. Determine the appropriate gas price by checking ETH Gas Station. Adjust the gas price by clicking the icon in the top right corner, then select "Settings" and then select "Transaction Speed". Send any amount of Ether (ETH) along with your Petrachor address to the auction address: 0x92A77aDd6911cC33A410340bA09622A668C1EF56

  5. Distributions happen within 24 hours of the end of each auction. Check your new Petrachor account balance using the Petrachor PTA Explorer.

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