How Power Auctions work
- A seller lists a power (quantity, starting bid, minimum increment, duration).
- Bidders verify once: the auction page gives you a
!auction code XXXXto paste into the bot (PM/PC). Then bid from chat (!auction bid) or here on the web. - When the timer ends, the highest bidder wins. Anti-snipe can extend the timer if a bid lands in the final seconds.
- Settlement is manual. ARCbots never holds, moves, or guarantees powers or xats. The winner and seller arrange the swap themselves, then complete it on xat directly.
- Use the listing's built-in Messages to discuss the trade with the seller (when and how to meet, confirming details). Keep the conversation on the listing so there is a record, and always swap using xat's Trade application, never Transfer.
- Afterwards both parties leave +/- feedback and record whether the trade actually completed. If it did not, either side can mark it a failed transfer; that keeps the price out of the public price history so it stays accurate.
Feedback is how you judge a seller over the long term. Because settlement is off-platform, a seller's +/- history (and their Verified Seller badge, earned from real completed sales to several different buyers) is your main signal of whether they are trustworthy. Always check a seller's feedback before you bid, and leave honest feedback after every trade so the next buyer can do the same.
Example listing
Gold x1
anti-snipe
Current bid: 1,250 xats by BobTheTrader (123456789)
Min raise: 50 xats (next 1,300)
Ends in: 2h 14m 09s
Listed from chat: ARCbot
Sellers can require a minimum feedback score to bid, set a secondary meetup chat, and choose how long the auction runs. The chat the auction was created from is always recorded so buyers know where it came from.
In chat: !auction create item=gold qty=1 xats=1000 dur=6h inc=50 snipe=on minfb=0