Auction House
Your terms, your profits.
What is the Auction House?
The Auction House is a dynamic system that lets underwriters compete to insure custom policies by bidding on the premium they want to earn. When a user wants insurance but doesn't know how to price it, they open an auction instead of setting a fixed premium.
How does it work?
You can browse auctions, pick the ones you find interesting, and submit a bid: this includes the amount you're willing to underwrite and the percentage premium you’d like in return.
If the demand creator selects your bid, you're expected to deposit the amount you committed. In return, you get your premium reward instantly — no vesting, no lockups. The earlier your bid is placed (and the more competitive your premium), the better your chances of being selected.
What’s different from Demands?
Demands have a set premium rate. When participating in Auctions, the best bid wins!
What’s the bidding fee, and why does it exist?
Every bid includes a small bidding fee (1% of the bid amount, with a $100 minimum). This filters out malicious participants and gives the demand creator confidence that selected bidders will follow through. If you’re selected and deposit as expected, you get the full fee back. If you don’t deposit, the fee is forfeited and redistributed to other participants. If your bid is never selected, the fee is automatically returned to you.
Why should I participate? What's in it for me?
Your terms: You choose how much to underwrite and what premium you want — no fixed rates.
Zero risk for unselected bids: If your bid isn’t chosen or the auction is canceled, your bidding fee is immediately ready to be used again in a different auction.
Top-up access: You can jump into underfunded auctions after the main deposit phase to earn full premiums from defaulting bidders.
Instant rewards: If you win and the auction concludes, you get paid immediately!
How exactly do the Auctions work?
🌀 Auction House – Phases Overview
Browse Auctions Explore open auctions across chains and protocols. Filter by size, duration, and premium yield to find bids that suit your risk profile.
Bid or Top-Up Submit your underwriting amount and premium offer. Pay the bidding fee to secure your spot. Alternatively, fill gaps during the Top-Up phase and skip the bidding altogether!
Deposit If chosen, deposit your committed amount. Once all the deposits are gathered, the auction concludes, and your rewards are immediately assigned!
Claim Rewards No waiting period — as soon as the auction concludes, your reward is transferred. You can track and withdraw it anytime.
Withdraw Collateral Once the policy ends (and if no claim is filed), your full collateral becomes available for withdrawal — same as with regular policies.
What is the Top-Up Phase, and why is it worth watching?
If a selected bidder fails to deposit their funds, the auction enters the Top-Up phase, where the missing amount is reopened to the market. This gives you a shot at underwriting without bidding and at the same premium rate the failed bidder asked for. On top of that, you share the rewards coming from the penalties collected from failed bidders. These slots usually get filled fast, so keeping an eye on Top-Ups can be one of the best ways to grab yield quickly, and additional rewards, quickly.
What happens if the auction doesn’t complete?
If not enough bids are placed, or the demand creator doesn’t accept any offers, the auction ends with no policy created. In that case, your bidding fee is refunded automatically. You lose nothing unless you were selected and failed to deposit.
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