Summary

On 28th April 2022, Trava NFT Knight Auction was released and became the most successful event in April. It is also an important milestone in Trava's long-term vision of enabling Trava NFT to be collateralized in the Trava Lending pool.

Along with the vision of the Trava Knight NFT, the mechanism Knight Auction is equally essential. As members of Trava Kingdom, all Knights have the privilege of raising opinions and suggestions to change the mechanism of Trava Knight NFT Auction for a better improvement, then bringing bigger benefits.

According to the Trava Knight NFT Auction rules, Auction is ONLY cancellable when it has NO BIDS. After the first bid comes in, neither you nor we can cancel it. That means when there is no bid, if the seller has a second thought about selling the Armoury, he/she is able to cancel the auction and keep the Armoury for himself/herself.

However, when there is the first bid, they have to wait till the end of the time set. There is no way to cancel the auction when the first bid is done.

Motivation

After the release of Trava Knight Auction, the Trava Forum has become dynamic with different opinions and suggestions for the Trava Knight NFT Auction mechanism. One of the most interesting suggestions that Trava Team has received is the suggestion that the auction publishers can finish the auction early whenever auctioneers feel that the price is appropriate.

For example, when a seller sets the auction’s end time for 2 days, but on the first day, a bidder carries out a price that satisfies the seller, the seller can finish the auction early at their disposal and accept the price.

With this right to finishing auctions, auction publishers have more freedom and power towards their auctions and their Knights.

Once again, Trava Kingdom is searching for brave Knights, who dare to raise their voices and leave a vote for the favorable option to contribute to the community. Listening to all Trava Knights, Trava Team is considering changing the auction mechanism to be more suitable for the preferences of users in the Trava ecosystem.

Voting options 🗡️ YES - Sellers can finish auction early 🗡️ NO - Old rules remain unchanged