NFT Butler

Best Practics

Bidding Best Practices

  • Define your risk and make sure you can still profit even with the maximum bid price.
  • Patience is key, you might not always be the highest bidder but you can still end up there when other bids are accepted or expired.
  • Use the built-in security features
    • Set hardcap bid price to put a red line if a collection get's swept (and will likely drop again later on)
    • Work with trait floor and/or collection floor caps in case of dropping floors.
    • Use the max # assets limit to distribute your risk.
  • Use validity times of 10 minutes on CTOs and something between 1-6 hours on token bidding tasks (depending on the size of the task, usually we calculate 1 hour per 1000 bids)