Texas Auction

The type of auction that is most closely tied to real time.

The participant can see:

• All bids;
• Price (value+minimal step) with which a participant can agree.

Participant can:

• Agree with the current price;
• Offer an own price bid higher than the previous one by at least 2 bid steps.

Features of the auction:

• The round lasts for an unlimited period of time;
• The round ends and the new one begins if any participant bets in 3 minutes;
• If there is no action within 3 minutes after the start of any round, the auction ends;
• The auction does not have a specified number of rounds.