In order to enable members of the Wing DAO community to participate further in the WING buyback process (WIP-05), the buyback will be carried out through an innovative community auction. Community members can use their own WING tokens to bid on the different assets that are part of the buyback at a preferential price. The whole process is open and transparent, and the WING obtained from the auction is burned. Please see the Wing Buyback Auction page in ONTO for the auction rules.
Step 1: Log into ONTO, click the Market tab at the bottom and select “Wing Buyback Auction” to go to the buyback page.
Step 2: Select the asset you want to bid for, and input the amount of WING you want to trade in for the auction. The amount you will receive of the asset you are bidding for will be automatically displayed under the “You will receive” section. You can also click the “Max” button to bid for the outstanding amount of the asset being auctioned. Please note that the amount of WING you are bidding must be less than the amount of WING in your “Wallet Balance” shown at the top. Click the “Auction” button, confirm the information and click the arrow below. After inputting your wallet password, click the arrow below again to confirm. After completion, the auction is executed.
Step 3: After the operation is complete, select “View Transaction” in the pop-up window to view the transaction details of this auction, or return to the “Assets” page to view the assets obtained from the auction.