🗂️Token Bidding
Collection Trait Bidding Tasks are used to create automated offers on all tokens of a specified trait of a collection (or even multiple traits at once).
Super effective for collections without trait bidding activated on OpenSea
Super flexible because you can combine filters with and / or combinators
Can't be outbid by other trait-bidding bots that do not support Token Bids
ENS Bidding possible through manual task configuration
Available Markets & Blockchains
Opensea - Ethereum
Opensea - Base (Manual Tasks only for now)
Collection / Trait Selection
Token bids offer the highest flexibility in configuration of the task. You can also start them from the trait overview:
On the above screenshot are two use-cases highlighted:
Create a token bidding task on a single trait to bid on all assets of this trait
Create a combined token bidding task with AND / OR combination filter. Have a look at the Bulk Create Task options.
If you want to create a combined token bidding tasks (combining multiple traits with AND / OR conditions), you can choose the AND/OR - Token Task option:
The following dropdown in the task config will let you choose if you want to combine the selected traits with an "OR" condition (which means you will bid on any asset owning at least 1 of the selected traits) or an "AND" condition (which would only bid on assets owning ALL traits together)
The "SHOW TOKEN SELECTION" button will always preview all assets which will be targeted by this token bidding task. It's always wise to double check the selection!
Market place options
If you're using the PRO Access you can also choos if the bidding Task should be running bids on MagicEden or OpenSea
Additional Token Selection Filters
On each token bidding task created with the Butler search engine (not manual tasks) will have the option to specify additional market filters with the "CHANGE TOKEN FILTERS" button:
The button will lead to the following screen which gives additional options for filtering:
minted assets (which were never sold) can be excluded with the toggle button
filter by rarity ranks but be aware of the rating system explained below. It might not match with your favorite rating system.
Min / Max listing price. This filter will target only assets currently listed between this price range.
Min / Max last sale price will only target assets last soled between this price range.
Min / Max holding days filter based on how long the asset hasn't been sold
Min / Max trait count will only target assets with a number of traits within this range.
Alaways double check "SHOW TOKEN SELECTION" before running the task. To ensure you're really targeting what you want.
Token Bidding Configuration
The token bidding task configuration is on the right side while market data is displayed on the left side.
Min./Max bid price is probably the most important configuration as it defines the range you'll be bidding on. The higher the max bid price, the more risk you're taking.
You can either define min./max. bid price in eth
or min./max. bid price in % from floor (will be calculated before every single bid, you can also use negative values. ALWAYS set the "Hardcap bid price" when bidding in % relative to the floor price:
Butler uses 3 different ways of outbidding increments:
absolute in ETH (e.g. 0.001 ETH)
in %
smart outbidding (for very competitive tasks)
Why use smart bidding? If many bots are bidding on the same token selection, it's difficult to remain the top bidder for an extended period of time and it requires a lot of resources to keep out bidding especially against multiple other bots.
An alternative way to win the bidding game is to use smart bidding which begins by making large outbidding steps which gradually decrease towards the maximum price configuration. The idea behind this is to shorten the number of iterations needed to reach a zone that is too risky or expensive for the competition.
This feature should only be used if you're still very confident with your maximum bidding price. Generally, winning a bid at an excessively high cost is not a real win, so be careful.
Validity
Task validity refers to the duration during which bids remain valid (the duration of your bids). It can be set in minutes, hours, days, or weeks.
Each task operates at a throughput of approximately 1200 bids per hour. We recommend choosing a validity period of at least 1 hour per 1000 bids. For example, if your task involves processing 4000 bids, you should set a validity of at least 4 hours.
If you're running multiple tasks on your Butler simultaneously, it may be beneficial to increase the validity of each task. This allows other tasks to run efficiently while one task waits for its next cycle.
If you want to make sure all your active bids are getting protected by the instant counter bidding engine, then enable the instant counter bidding option and start your ICB engine.
Looping options
With the looping options you can define how often the task should be repeated.
The first dropdown can be used to switch between Forever (looping infinitly) and Limited which let's you run the task only x times (for example 3 times). Usually you want to go with Forever but limit the task with floor price caps or asset limits as described in Security Features.
The second dropdown let's you define the interval time for each cycle. By default we're using Auto which means the task will automatically restart when the first bid expired. It will then start again in the same order to bid on all it's targets. When switching to Custom option you define a fixed interval in minutes. Which will start counting down once the task has ended.
Playing Token Tasks
On your Token Tasks page you'll see three different categories from top to bottom:
Running: Here are all the tasks which are currently processing bids (up to 5 slots)
Queued: Here we store tasks which are ready to be picked up once a task finishes in Running Queue or already completed and waiting to run again later on (yellow border with count down)
Unescheduled: This is your task storage where your new tasks will land initially
Each task has different control buttons on the very right. Hitting the "plus" button will automatically move it from the Unescheduled section to the Queued section, ready to be picked.
While the play button will send it to the running queue if space is available. This will make it run and sending bids immediately but there needs to be a free slot in running queue and not to many tasks running on the same wallet already.
Also you'll have to run your token task engine first in order to be able to start your token tasks. It can be done on your Dashboard or the head section in Butler
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