A Bid Deposit is a portion of funds temporarily frozen by the system when a user participates in domain auctions. The deposit is calculated as a percentage of the bid amount. These funds are frozen but not directly deducted from the account, and the required deposit amount changes as the bid amount changes.
1. Deposit Rate
When a user participates in a domain auction, the system will freeze the corresponding amount as a bid deposit based on the deposit rate applicable to the account. The deposit rate ranges from 1% to 20%. For new accounts, the deposit rate is generally 20%.
As the account continues to be used, the system will periodically review and adjust the deposit rate based on factors such as account spending and credit level. Users will be notified of any adjustments via an in-site message. Please check your messages regularly.
2. Deposit Freeze and Release Rules
After Placing a Bid: The system will freeze the corresponding deposit based on the applicable deposit rate.
When Your Bid Is Outbid: If another user places a higher bid and you are no longer the highest bidder, the system will automatically release your frozen deposit.
When the Auction Ends:
If You Win: The deposit will be applied toward part of the final domain purchase price in accordance with the applicable rules. The actual settlement amount shall prevail.
If You Lose: The frozen deposit will be automatically released and returned to your available account balance.
Friendly Reminder
When participating in a domain auction, the system will freeze the corresponding bid deposit based on your bid amount. Please refer to the information displayed on the page and the actual settlement results for the exact deposit amount and settlement rules.
If you have any questions about the bid deposit rules, please feel free to contact our online customer support team. We will be happy to assist you.
