AuctionX is an auction infrastructure layer that enables businesses to launch on-chain auctions effortlessly. Powered by blockchain technology, AuctionX delivers secure, transparent, and engaging auction experiences. Think of AuctionX as a "Auction-As-A-Service" infrastructure. It enables the creation of white-labelled auction platforms for various industries and use cases. The auctions hosted on AuctionX can cater to digital goods, NFTs, RWAs, experiences, tokens and a lot more.

AuctionX is set to transform the auction landscape by deploying a decentralized infrastructure that streamlines and elevates the entire auction experience on a global scale. Leveraging blockchain technology, AuctionX delivers a transparent, secure, and efficient platform for conducting trustworthy auctions, empowering users to win exceptional products and services with confidence. AuctionX is community driven and emerges from the understanding that the online auctions have a lot of untapped potential.

XP is the in-game currency of AuctionX. It is used to participate in any auction and for other purposes like paying the margin money to claim a product. XP is stable in nature and its price does not fluctuate. It is pegged to Indian Rupee INR at the rate of 1 XP = 1 Rupee.

AuctionX has a token by the name of AuX - however the token is not under utilization as of now (Jan 2026). AuctionX has plans to launch the token down the roadmap. The objective is to have solid utility use cases for AuX token before it is launched and made available on exchanges for trade.

There is a lot of fairness in the Dutch auctions. The company decides the number of shares or products that it wants to sell and the market determines the price at which it could be sold or bought. The company sets a reserve price and initial price on the product. For example, let us say that a handbag manufacturing company wants to sell 500 bags. It sets the reserve price of 1 bag as $1 and the initial price as $10.

When the bidding starts, the reserve price is not made public. None of the bidders know the reserve price set by the company for the bag. The initial price is reflected. As the auction starts, the initial price of the product keeps decreasing periodically until all the products (bags in this case) are sold. If there are three buyers bidding for the bags.

Auction starts with $10 for each bag
Alice: commits $250 || $10 for 1 bag => 25 bags => number of bags left to sell = 475
Bob: no bids
Carl: no bids

Price drops to $5 in equal time intervals with each drop of 1$
Alice: has already committed $250, but since Bob now bids at the rate of $5, Alice will get a total of 50 bags
Bob: committed 150$ || $5 for each bag => 30 bags => number of bags left to sell = 500-50-30 = 420
Carl: no bids

Price drops to $2 in equal time intervals with each drop of 1$
Alice: has already committed $250, but since Carl now bids at the rate of $2, Alice will get a total of 125 bags
Bob: has already committed $150, but since Carl now bids at the rate of $2, Bob will get a total of 75 bags
Carl: committed 600$ || $2 for each bag => 300 bags => number of bags left to sell = 500-125-75-300 = 0
Since the supply of bags to be sold is finished, the auction will end. Alice, Bob and Carl will all get the bags at the rate of $2 which is between the reserve price ($1) and the initial price ($10).

AuctionX leverages blockchain technology to bring in trust, decentralization and transparency.
Since there are a multitude of blockchain available, every project in the blockchain space, needs to decide the blockchains they want to support.
For AuctionX the smart contracts are authored in ERC20 - so technically AuctionX is a project in the EVM ecosystem. AuctionX currently supports the following chains (Jan 2026) :
- BASE (powered by Coinbase)
- Binance Smart Chain
- SKALE
- Hedera
AuctionX will be supporting more chains in the future - like Solana, Polygon etc.
The objective of supporting multiple chains is to reduce dependency on a single chain. Multichain increases versatility and applicability.

The answer is NO.
We see AuctionX as a platform where people get amazing deals by participating in gamified auctions.
All the auction mechanisms are dominantly games of skill (and not chance).

Gambling has never rested comfortably in most parts of the world. But to get a clear picture, it is important to understand the extent of gambling. Most of the governments employ a “dominance factor” in their definition of gambling. This dominance factor determines the amount of skill (legal act) and luck (illegal gambling) involved to differentiate between the two.

Let us understand this with the help of an example. We consider 2 very popular games: Roulette and Poker (Texas Hold’em). While a lot of skill is required to play Poker (Texas Hold’em), Roulette is purely based on luck. Poker involves manipulating the expectations of the other players relative to your own expectations about uncertain outcomes. So through experience, training, and mental prowess, some players would grow to be better at this than others. This is not the case with Roulette. Here, the chances of winning depend purely on luck and can never be statistically or mathematically predetermined. Hence, winning in Poker requires skill, and winning a round of Roulette requires luck.

The same is with any auction house powered by AuctionX. All of the auction mechanisms are skill dominant.