> For the complete documentation index, see [llms.txt](https://fomonft.gitbook.io/fomonft/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://fomonft.gitbook.io/fomonft/how-to-place-a-bid.md).

# How to Place a Bid

Players can start to place bids when an auction **becomes live**.

Enter a bid price to place a bid.

![](https://235233614-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F-Mk_7_u8ZmYAgGrtC3zq%2Fuploads%2FNXhsgnLUUCekIdn9eqr4%2FSubmit%20Bids.png?alt=media\&token=da34a2a5-8021-4b8f-8aa4-5b34cac37f7c)

* The bid price is set by the auction automatically. **Bidders cannot set their own bid price and must accept the displayed bid price at the time.** Bid price starts at **0.3 BNB** and grows at a constant rate of **1%.**
* While a bidder cannot set the bid price, **the bidder can choose how many bids to place at that price**. This allows the bidder to spend as much BNB as desired to secure a suitable share to receive BNB rewards from future bids.
* There is no cap on how many bids a bidder can place at any price. So be careful!
* Bidders can bid multiple times. The amount spent will be tallied to calculate reward shares.

The first bid accepted with the highest bid price becomes the current leading bid.

* If no higher bids come in before the round time **counts down to zero**, the leader will win the auction.
* A bid can be accepted but not show up as the leader. This means someone else submitted a bid at the same price in the same **valid** block. So, although the bid was accepted, it was already replaced by a higher bid. Your BNB will not be returned in this case. You will start to **earn BNB rewards** for this accepted bid.

{% hint style="info" %}
🧇 **Important: under AA, you will not be refunded if your bid is later outbid**. The amount of a placed bid is immediately collected and sent to previous bidders and the auction’s jackpot. This process is immediate, final, and irreversible, whether the bid wins in the end or not.
{% endhint %}