Mines Auction #

Gemstone mine auctions add an element of competition and strategy to the gameplay. Participating in auctions and mining gems requires good preparation, planning and strategic thinking to maximize your profit. You can learn more about the types of mines, the regulations for their development, the resources mined at the mines and their use in the relevant section.

Gemstone mining process #

The process of mining gems in the game includes several stages:

Geological research #

State geologists are conducting surveys to identify gemstone mines. When such deposits are discovered, the mines go up for auction.

Putting up for auction #

Mines discovered by geologists are put up for auction by the state. At auction, mines can be purchased by clones who have a geologist’s education. Auction participants place bids on mines, and after the auction ends, the highest bidder wins the right to extract gems from that mine.

Extraction and processing #

After winning the auction, the player can begin mining for gems. To do this, he will need a geologist’s education. Collected gems may be sold on the exchange or used to create various items in the game.

Rules for bidding at the Mine Auction #

Clones of the social status of “artisan” and above, who have a geologist’s education, can participate in the auction.
The trading period is determined in hours and minutes and can be a maximum of 48 hours.
If a bid is placed in the last minute of the bidding period, the bidding period is extended by 1 minute.
Depending on the type of mine, bets can be made not only with gold coins, but also with various resources.
The bet amount in gold coins is calculated based on the nominal value of the resources in which it is made.
The subsequent bid increases the current price of the lot by the specified step.
Raising bids without restrictions is permitted.
The bid amount is reserved and written off after the lot is purchased.
If the bid is outbid, it is returned.
Once a mine has been purchased, the deal cannot be cancelled.
The purchased mine will appear in the buyer’s possession within 5-10 minutes after the end of the auction.

These rules provide a structured and fair process for buying mines at auction, where participants can bid and purchase mines in accordance with established rules and restrictions.

The difference between the sale price of the mine at auction and its nominal value in gold coins is transferred to the state budget in the form of income. This gold is then used by the government to fill various game funds, which support the economic and social aspects of the Golden Clone game.

Implementation of trade orders in the gold mine auction #

In pursuance of your strategic orders and at the behest of the Guardian of the Scales, a new functional tool has been introduced at the gold mine auction - trade orders. Their purpose is to streamline participation in the auction, eliminate unnecessary fuss and significantly speed up the process of distributing valuable lots.

Trading Orders Capabilities #

Now anyone can place a trade order by specifying:

Type of mine.
The resource that will be used to place the bet.
The maximum price I am willing to pay.
Desired number of lots.

This can be done in the “Create order” section “Trade” → “Auctions” → “Mine auction” → “Trading orders” → “Create order”. At the end of the trade, if the maximum bid specified in the order exceeds the final bid for the lot, the bid specified in the order will be automatically submitted on behalf of the clone and the lot will go to this player. If the order is placed less than a minute before the end of the trade, the term of this trade is automatically extended by 1 minute after the timer expires.

Terms of Use #

Currently, the use of trading orders is free. However, in the future, at the discretion of the Libra Keeper, the following may be introduced:

Social status requirement for a clone.
A small commission in $AMERO for each lot purchased (charged at the time of order creation).

Order execution procedure #

The order of execution of applications is determined by the following rules:

Priority is given to orders with the highest maximum price.
If the prices are equal , the order created earlier has priority.

All orders are subject to active auction settings, including:

Do not ask for confirmation when placing bets.
Automatic purchase of missing resources - for fast and convenient trading without unnecessary actions.

Transparency and competition #

Maximum trading orders are displayed publicly on the mine auction floor, ensuring transparency and fair competition between participants.

Trading order cancellation fee #

If you cancel an order within the first 24 hours of its creation and its price is above the auction average, a fee may be charged.

The mechanics of this commission are aimed at maintaining fair competition at the auction and reducing the possibilities for artificially inflated prices - this makes trading more transparent and profitable for all participants.

The commission is calculated dynamically:

The less time has passed since the order was created, the higher the commission rate. It gradually decreases and is reset after 24 hours.
The more the order price exceeds the market average, the larger part of the reserved amount is subject to commission.

The maximum fee is 5% of the reserved amount, but it may be less or not applied at all if there are no conditions for its collection.