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Handshake (HNS) domain auctions

Handshake (HNS) is a blockchain for domain names, and it sells new names in auctions. To bid in FxWallet, tap HNS in your asset list on the Wallet tab, then tap Domain: the domain page opens on the Auction tab.

How an auction works​

  1. Handshake releases a batch of new names every week. A name's auction starts when someone opens it, for example with Open on the name's page in FxWallet. About 6 hours later, bidding opens for 5 days. Anyone can bid, as many times as they like.
  2. Bids are sealed. With each bid you lock your bid plus an optional blind bid, an extra amount that hides your real bid: other bidders see only the total you lock.
  3. When bidding ends, a 10-day reveal period starts, and each bidder reveals their bids.
  4. The highest bidder wins the name, and pays the amount of the second-highest bid.
danger

Reveal every bid during the reveal period. A bid that isn't revealed in time stays frozen for good, and you can't get those coins back.

To reveal, go to the Personal tab on the domain page, tap My Transaction, open To be revealed and tap Reveal all. You can also tap Reveal on a name's own page. FxWallet reminds you when you have names to reveal or redeem. Don't leave bids or reveals to the last minutes: the end of the bidding and reveal periods is a settlement period, when you can't do either.

After you win​

  1. Activate the name. On the name's page, tap Activate. Until you do, FxWallet shows Domain is not active, you can not transfer and other operations now.
  2. Renew it in time. A name lasts about two years. Tap Renew on its page before it expires. As the date gets close, FxWallet shows Your domain name is about to expire. To be notified, turn on Expiration under Me → System Notification → HNS Domain.
danger

If a name expires, FxWallet can no longer renew or transfer it, and someone else can win it in a new auction.

To give a name to another wallet, tap Transfer. The name is locked for about two days; then finalize or cancel the transfer on its page.

Get your coins back​

Your locked coins come back in two parts: the blind bid when you reveal, and the bid when you redeem. If you don't win a name, redeem your bid: go to Personal → My Transaction, open Redeem and tap Redeem all, or tap Redeem on the name's own page.

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