Stake your claim.
Earn insane APY staking rewards from transaction fees.
Get paid in both $BID and $ETH
42,288,419
Total $BID Supply12,548,870
Total $BID Staked
How does the DefiBids platform work?
DefiBids is the world's first cryptocurrency auction site. Check out this video to learn more about DefiBids.
Get your hands on some $BID tokens.
Install Metamask in your browser and trade your Ethereum for the DefiBids ($BID) token.
Stake your $BID and earn rewards.
1% of all fees are rewarded to $BID stakers in a pool, another 1% is burned forever - resulting in a deflationary supply.
Everybody wins.
Stakers earn rewards on auction transactions, auction buyers get amazing deals on token packages, and traders benefit from increased value and adoption of the $BID token.
Tokenomics
The DefiBids ($BID) smart contracts and auction protocols are quite complex but the underlying concepts that drive our token are relatively simple. Here is a brief overview of our PHASE 1 tokenomics:
$BID Token Mechanics
A 2% fee will be applied on all $BID transactions (staking, un-staking, reinvesting, selling, and withdrawing). 1% of the fee goes to the staking rewards pool and 1% is burned forever.
Staking Rewards
Our staking portal rewards users in both $BID and ETH!
Transaction Rewards
1% of each transaction will be distributed across all token stakers. This distribution will be based on the total $BID tokens each user is staking.
These rewards will be paid out in $BID tokens. You can choose to reinvest or withdraw these rewards at any time.
Auction Rewards
When anyone participates in our auctions, a portion of the ETH used in the auction will be evenly distributed to all $BID stakers.