Auction for Promptmaster Title

How to become the next promptmaster

IMPORTANT: FOR THE FIRST EPOCHS, WHILE COMMUNITY IS FORMING, THE PROMPTMASTER WILL BE ASSIGNED THROUGH INVITE AND APPLICATION FORM.

To become the promptmaster for a specific future epoch, participants will need to acquire NFT keys that grant them this exclusive role. The bidding process for these keys will take place through an English auction style on a dedicated section of the website, using GLITCH ERC20 tokens exclusively.

The auction for an epoch will conclude when the snapshot for distributing GLITCH ERC20 tokens from the previous epoch is taken. Once the winner's GLITCH ERC20 tokens are collected, the promptmaster privileges will be granted to the highest bidder.

The proceeds from the auctions will be allocated as follows:

• 50% of the collected GLITCH tokens will be burned, effectively reducing the overall supply and promoting a deflationary token model.

• The remaining 50% will be held in the multisig GLITCH DAO wallet. These funds will be used for future initiatives determined by community consensus and voting, ensuring that the project's direction remains aligned with the participants' interests.