Legal · draft
Terms
The rules that govern use of the 1 SOL Auction interface and Solana program.
Placeholder content. This page has not been reviewed by counsel and makes no claim that the product is approved or permitted in any jurisdiction.
Acceptance
By connecting a wallet you agree to these terms. [PLACEHOLDER: requires review by qualified counsel before launch.]
Auction mechanics
This is an all-pay auction. The highest bidder at close pays their bid and receives the prize. Every other bidder pays their final bid and receives nothing. Escrowed bids are not refunded.
Protocol fee
A 1% fee is charged on top of every bid, on the newly locked amount only. Fees are non-refundable. 50% of fees is used to buy back and burn the AUCTION token; the remainder is protocol revenue. [PLACEHOLDER: requires review by qualified counsel before launch.]
No custody by the interface
Funds are held in the auction program's vault on Solana, not by this website. [PLACEHOLDER: requires review by qualified counsel before launch.]
Regulatory classification
All-pay auctions may be treated as gambling or games of chance in some jurisdictions. [PLACEHOLDER: requires review by qualified counsel before launch.]
Limitation of liability
[PLACEHOLDER: requires review by qualified counsel before launch.]