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BID is the governance currency of the TopBidder protocol, which is used for Yield Farming and subsequent project governance. In order to improve decision-making efficiency in the early stage of the project, the development team will have decision-making power. As the ecology gradually improves, the team's decision-making power will gradually be transferred to the community.
In the early days of the project, after the artist signed the contract through the platform, some rNFT issued had the function of casting BID during the auction. The release speed of BID is related to the number of works submitted by artists, and about 12 million pieces are issued each year;
Top Bidder DAO will be opened after BID is distributed to a certain stage, and the DAO will vote to decide the setting of various parameters of the auction system, and the governance adopts quadratic power Voting mechanism;
Governance currency BID has the function of mortgage mining and shares the profits of the agreement.