Auction rules
| Rule | Value |
|---|---|
| Start | The block in which the Fee Key reaches Tollbooth's escrow (the platform NFT wallet). |
| Length | 24 hours. |
| Opening bid | 0.1 SOL. |
| Each new bid | At least 5% above the current bid. |
| Late bids | A bid in the last 5 minutes pushes the end back by 5 minutes. |
| Outbid | Refunded in full, automatically, within two minutes. The keeper pays the network fee. |
| Winner | Receives the Fee Key. 50% of the winning bid goes to the coin's creator, 50% to the $TOLL buyback. |
| No bid | The key stays with Tollbooth, its LP fees go to the $TOLL buyback, and it is listed again every Monday 16:00 UTC. |
Bids are ordered by slot, as the chain ordered them. A bid that arrives after the end, below the minimum, with a memo that does not match the amount sent, or for a key that has no live auction is invalid and refunded in full.
When a key relisted on a Monday sells, the proceeds split the same way as a graduation auction: half to the coin's creator, half to the buyback.