What are CHO PUBLIC AUCTIONS and how do they work ?


They are the AUCTIONS of the vCards that are already in the CHO.earth system or those (Basic Level vCards) that the Creator Users choose not to keep and want to auction.

The Auction Base Price ($ABP) is the Base Value of the vCard lowered by default by $ 0.5.

The auctions are managed automatically by the CHO.earth system, have a window of 72 hours and the minimum raise for bids is 0.5 $.

 

Creator Users cannot purchase the vCards they have created in the marketplace or at auction, but they can decide to keep them at the time of creation.

If they choose to keep the vCard, they pay the Digital Property Value ($DPV) calculated by the CHO.earth system based on market values.

 


Each purchase can be discounted by 5% if you enter the REFERRAL CODE of your friend / acquaintance who will receive in exchange a cashback of 5% of the purchase made.
 

To get a discount for each payment, a REFERRAL CODE must be entered.
 

In CHO.earth each vCard Creator User will always have recognized in the Public Auction 50% of the Award Value ($ VG) of the Digital Property (NFT)  that he did not want to redeem and that he put up for auction.

The amount due will be credited to the Creator's Wallet in default by the CHO.earth system and will be available as cash that can be reinvested, redeemed or deposited into your Bank Account. (See here how the redemption works>)

After the First Auction Experiment and the vCard can be awarded to a third user, but if this does not happen because it does not receive any raise, the vCard returns after 72 hours it will return by default to a Second Experiment, but with a starting value more lower than that of the First Experiment of $ 0.50.

 

 


This continues until the vCard is awarded.
 

If the vCard shows no interest and no one raises, it will lose Value until it reaches a Minimum Value ($MV) of € 0.50.

At this point the CHO.earth system automatically sends it to an “Opportunity Park” section of the CHO Marketplace where, after another 72 hours, it can be purchased by Users.

It is always excluded from the purchase by the Creator who at this point also loses the possibility of grabbing the 50% share on the sale and loses the Credits acquired in the creation of the vCard both from the Wallet and from the Contactor of the “Treasure ChestProfile.




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