Part II:What the Ethereum Name Service Is And How To Reveal Your Bid After Auction Bidding Has Closed.(WalkThrough)

in #cryptocurrency7 years ago (edited)


In Part I: The Ethereum Name Service and how to bid was explained. In this post, we will learn how to reveal your bid after the 72-hour private bid submittal process is over. Once the 72-hour bid submittal is over bidders will have 48 hours to reveal their bid to the public. A bidder will lose all Ethereum funds if the bid info is not revealed. For this example, MetaMask Ethereum based browser will be used. Part I explains how to install the MetaMask extension and other Ethereum based browsers options are given but not explained how to install.

  • In the bottom right-hand corner of the registrar.ens.domains page click Import Bid if the bid you need to reveal is not in the watch list or if you do not see the blue bid button under the .eth search bar.

  • The Import Bid box will appear. Click Choose File and double-click the .json file you want to import.

  • If the file you have chosen contains bid info then the Import Bid button will turn blue. Click the Import Bid button.

  • Make sure you have clicked the name that needs the bid to be revealed in the list of watched names on the right-hand side of the screen. Under the search bar should appear the blue Reveal Button. Click to reveal. Notice to the right is a timer giving the time you have to reveal and the highest bidder information.

  • After you hit reveal in the above step you must use gas to reveal. The MetaMask wallet screen should automatically appear. The gas can be adjusted but remember, the lower your gas the longer it will take for the info to travel and longer for your revealed information to appear

  • If you lose your bid, a fee will be deducted but the rest of the bid amount will be returned to you. If you win the bid, the ether it takes to win the bid will be kept as a deposit but the rest will be returned.

Part Three will show how to claim your .eth address should you win. Additionally, the benefits you gain by winning the bid for .eth address will be discussed. Happy Bidding!


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