Auction Guideline of GXCLAND

GXCLAND Introduction

1.GXCLAND is a virtual world based on the ecology of GXChain. The token in GXCLAND is GXC and Equity token is GRO(GXCLAND Rare Ore). GXCLAND consists of 9 territories, each with 900 plots.

2.The initial mining pool of GXCLAND is 240,000 GXC. The mining pool in each territory is 10% of the total mining pool. The tax revenue from users in the territory will continue to return to the mining pool in a certain proportion. When the development value of a territory reaches a certain value or the plots are sold out, the next territory will be opened. When GXCLAND 9th territory  is open and the development value reaches a certain value, GXCLAND Alliance Event will be launched. At that time, the mining pools in each territory will be shared and the last 10% of the total mining pool will be incorporated.

Land rules

1.GXCLAND 1st territory is located at the lower left of GXCLAND and consists of a total of 900 plots of land. Only the central 10×10 total 100 land will be opened at the beginning. Users can only purchase and build on these land. After the development value of 1st territory and the number of permanent residents reach a certain value, more land will be opened. From the southwest corner, 200 blocks of land are opened each time in a counterclockwise order.

2.The four most central areas of the area are public land and are not sold to users. In public land, there are specific public buildings that will provide users with some important daily functions.

3.Land that has not been sold in land auction can be purchased directly from the system after opening the island. The price depends on the average price of the land auction in the territory. Based on this price, each time a land is sold from system, the price will increase proportionally. Every time a piece of land is written off, the price will drop proportionally.

4.Each land is bundled with a land fund. Land auction price or 30% of the system price will enter the land fund. Each time the land is traded between users, 5% of the transaction price will also enter the land fund.

5.Users can write off their land if there are no more buildings on the land. After the land is written off, the user can pay a 5% handling fee to withdraw the land fund of the land. At the same time, the ownership of the land returns to the system, and all users can purchase the land from the system.

Auction Guideline

1.96 plots that are the most central 10×10 land except for public land will be auctioned.

2.Only NeoWorld registered users can participate in the land auction of GXCLAND 1st territory. GXCLAND new user registration link: https://www.neoworld.io/account/signup?invite_channel=GXC

3.GXC is the token used in the land auction.

4.Users need to deposit GXC to deposit address which can be found from the official website’ “ACCOUNT”, and then transfer the GXC to the auction system through “Assets Management” function in the auction website.

5.After the auction is over, the balances in auction system will be transferred back to the user accounts.

Auction time

  • Time Start: 12:00 pm, 6th November, Wednesday (UTC + 8)
  • Duration: 24 x 7 hours
  • Time End: 12:00 pm, 13th November, Wednesday (UTC + 8)

Auction Rule

1.The starting price of each land is 15 GXC.

2.Each bid increase cannot be lower than 1 GXC and 1% of the current bid.

3.After bidding for one land, that amount of GXC will be frozen that players cannot use it to bid other lands.

4.Starting from the fourth bid, 10% of each price increase(minimum 0.1 GXC, precision 1 decimal) enter the land fund.

5.Players can withdraw the bid only when he’s not the highest bidder. No fees would be charged if withdraw. The part that has entered the land fund cannot be withdrawn.

6.When the auction time runs out, the land automatically belongs to the bidder with highest price and will not be auctioned again.

7.The auction end time will be changed according to the bidding each time. Here are the details:

a) for each bidding, the end time is the current time plus X. In earlier stage of the auction, X = 24.

e.g., after someone bids for a certain land, if no one bids it with a higher price in the next coming 24 hours, then this auction ends. In the last 24 hours of the auction, X will be halved for each biding, the lowest time is 10 minutes.

b) If the calculated auction end time is greater than the auction stop time (12:00pm, 13th November, UTC + 8), then the auction ends according to the latter.

MISC

1.Users with land can obtain permanent resident status in the territory. Permanent residents have lots of benefits in the territory, including free re-entry right and free transportation.

2.One GXCLAND Pass (Permanent) will be given to the owner for each parcel auctioned. The owner could activate the pass to gain permanent free re-entry right of GXCLAND. The passes not activated could be sold in supermarkets.

3.The owner of the land with the highest transaction price in this auction will receive a Land King Monument and a 50% stake of material exchange in this territory.

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