Phoenix NFT

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Phoenix NFT
Obtain a 25% boost to your Virtue-Rewards and MetaRewards by holding a Phoenix NFT!
What is the Phoenix NFT and its benefits?
Are you looking for ways to earn more rewards from your AceVault, Hydravault, StableVault and/or MetaVault positions? 
Well, we have some good news for you. By holding a Phoenix NFT, you could obtain a 25% boost on your Virtue-Reward Rate(s) and/or MetaVault Multiplier(s). That's right - you'll earn 25% more rewards from your AceVault, Hydravault, StableVault and/or MetaVault positions!
👉 Example: 25% Boost to Virtue-Rewards
👉 Example: 25% Boost to MetaVault Multipliers
But that's not all - a lot of effort has gone into its design and we're excited to announce that each Phoenix NFT will feature a range of unique traits. So, not only will you enjoy a 25% boost to your rewards, but you'll also be the proud owner of a one-of-a-kind collectable NFT made exclusively for YSL.IO.
There will be a limited supply of 1,095 Phoenix NFTs released annually - only one made available every 8 hours through an on-chain auction. So if you're interested in obtaining a Phoenix NFT, you'll need to secure one by bidding in the epoch auction.
Each Phoenix NFT will only be active for a period of 8,760 hours (equivalent to 1,095 epochs or four months). Once your Phoenix NFT has been deactivated, you'll no longer enjoy the 25% boost to your rewards. In other words, only when your Phoenix NFT is active, will it provide the 25% boost.
All Phoenix NFTs that are issued will be transferable. However, if an active Phoenix is transferred by a holder it will be rendered inactive. To reactivate a Phoenix NFT, a holder will be able to reactivate their Phoenix NFT (via the NFT page) by providing the reactivation fee of 500 BUSD.
Phoenix NFT - Epoch Auction
Each Phoenix NFT will be available for purchase through an auction. There will only be a limited supply of 1,095 Phoenix NFTs released annually (3 per day). 
Run Time: each epoch auction will run for a minimum of 8 hours.
There will be a 5 minutes time buffer, so if a bid is made in the last 5 minutes before the end, 5 minutes will be added to the auction to allow everyone to re-adjust their bids. As long as an auction is not finished the next Phoenix NFT auction shouldn’t start.
This means the auction will only end if no bids are placed in the last five minutes of the auction end time, and the end time will continue to be extended as long as a bid is placed in the last 5 minutes.
For example, if the auction is to end at 12:00 pm, if a bid is placed at 11:59 am, the end time will be extended by 5 mins to 12:05 pm, and if another bid is then placed at 12:03 pm, the end time will be extended by 5 mins to 12:10 pm. This process will continue until no bids are received within the last five minutes of the end time.
Minimum Bid: the minimum starting bid for the epoch auction will be 500 BUSD.
The minimum starting bid will be 500 BUSD. In order for someone to outbid the current highest bid, they’ll need to place a minimum bid that is either 20 BUSD higher than the current highest bid OR 105% of the current highest bid if the additional 5% is greater than 20 BUSD.
For example, let's say that the current highest bid for the epoch auction is 1,000 BUSD. This means 5% of the current highest bid is equivalent to 50 BUSD, which is greater than 20 BUSD. Therefore, for someone to outbid the current highest bid of 1,000 BUSD, they will need to place a minimum bid equivalent to 1,050 BUSD. 
Claiming NFT (Activation): the auction winner will need to claim their Phoenix NFT.
After the completion of an auction, the winning bidder will be able to claim their Phoenix NFT by clicking on the “Claim NFT” button.  
Only the wallet address that placed the winning bid will be able to claim the Phoenix NFT.
When the winner claims their Phoenix NFT it will be activated, and the 2,920-hour countdown to its deactivation will commence.
Reclaim Losing Bids: all losing bidders will be able to reclaim 100% of their BUSD bids(s).
After the completion of a Phoenix NFT auction, all losing bidders will be able to reclaim the BUSD they provided as bid(s) by clicking on the “Claim Bid” button.
Only wallet addresses that placed a losing bid will be able to reclaim their BUSD.
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What is the Phoenix NFT and its benefits?
Phoenix NFT - Epoch Auction