Let’s bid in the auction and grab some options at a decent price!
- Get the wallet ready (SUI Wallet is highly recommended) if you haven’t installed any SUI wallet.
- Make sure you have enough SUI balance in your wallet (at least 2 SUI) for the gas fee cost.
If you are all set well, directly head to the Typus Auction and connect your wallet.
When entering the auction page, you'll notice three main sections below:
- Live Auction: This section displays auctions that are currently ongoing. If there is no ongoing auctions, this column will be invisible.
- Upcoming Auction: This section displays auctions that are scheduled to start in the future.
- Ended Auction: This section displays auctions that have ended.
You can select your preferred live auctions. As an example, let's enter the Daily SUI Covered Call auction now!
This is where you can place your bid. However, before making a final decision, we would like to show you how to read the information.
- Bidding Curve: You can see the current price gradually decreasing from the initial price to the final price because of the adoption the Dutch auction. Click here for more info.
- Bid Time Remaining: How much time is left for the auction to end.
- My Bid Size (My Bids): How many contracts you have bid on.
- Bidding Card:
- Bid price: Bid price at the moment.
- Bid Size (Contract Size): Please enter the amount you desire to bid.
- Token Required (Premium Required): It indicates how much SUI you will pay for the options, based on your input in Contract Size.
- Expected Profit / Loss: This metric displays the potential profit and loss you may incur.
- Recent Bids: The complete bidding history will be shown here.
Now you have fully understood what’s going on here and you have decided to place a bid to win some cheap options.
- In this case, you can input 1 in the Contract Size column and click Bid. After confirming the wallet popup, you have successfully submitted the bid! Congratulations!
- You can view your current bid size on My Bid Size (My Bids) column! After the auction ends, your filled contract size will be shown on the Ended Auction section.
- Please note that the options you have bid on will not be settled until the expiration date.
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