Understanding Bid-Off
What this does
Bid-Off is a live, token-escrowed auction on a single listing. Buyers lock real ALBY Tokens as escrow, then compete for 5 minutes with a 30-second anti-snipe extension. The winner's escrow becomes the payment to the seller; everyone else is refunded in full.
When to use it
Use this on any listing marked 'Bid-Off Eligible' when you want to compete for it instead of just buying at the ask price.
How to use it
- 1
Open a Bid-Off eligible listing and tap the Bid-Off badge.
- 2
Lock tokens as your escrow (must be at least the listing's ask price).
- 3
Once 2+ buyers have locked escrow, anyone at the table can tap Start Bid-Off.
- 4
Bid manually, or set a Proxy Max and let ALBY auto-bid for you up to that amount.
- 5
When the 5-minute clock ends, the highest bidder wins — their escrow becomes the payment, everyone else is refunded.
Connected to
- ALBY Tokens wallet/ledger (services/credits_ledger.py)
- Bid-Off engine (services/bidoff_engine.py)
If something goes wrong
My bid was rejected.
Bids must be at least 1 token above the current top bid, and cannot exceed your own locked escrow.
I can't join — it says 'Bid-Off already live'.
Escrow locking closes once the auction starts; wait for the next window on that listing.
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