Frequently Asked Questions

A penny auction is a type of bidding competition where each bid raises the item price by a small amount (often just a penny) and resets a countdown timer. The last bidder when the timer finally hits zero wins the item at the final price — which can be dramatically lower than retail value.

Unlike a standard auction where the highest bidder wins, GoFogo auctions are won by the last bidder before the timer expires. Every bid resets the clock, so auctions can go on for as long as people keep bidding. GoFogo is also fully on-chain — every bid and outcome is recorded on the Fogo blockchain for complete transparency.

Bid credits are what you use to place bids in auctions. Each bid you place consumes one bid credit. You purchase bid credits in packs before joining an auction. Think of them like tokens that let you participate.

Visit the Buy Bids page and purchase a bid pack using your connected wallet. Bid credits are added to your account instantly and can be used in any open auction.

When you place a bid: (1) one bid credit is deducted from your balance, (2) the auction price increases by a small increment, (3) the countdown timer resets, and (4) you become the current leading bidder. If no one else bids before the timer hits zero, you win.

You win by being the last person to bid before the countdown timer reaches zero. The key is that every new bid resets the timer, so auctions continue as long as bidding activity continues. When the timer finally expires with no new bids, the most recent bidder wins.

Bid credits are consumed when placed and are not refunded if another bidder wins. This is how penny auctions work — the cost of each bid is the price of participation. Some auctions offer a Buy It Now option that lets you apply the retail value of your spent bids toward a direct purchase.

Yes. If you win an auction, you pay the final auction price displayed when the timer hits zero. This is typically a fraction of the item's retail value, which is what makes penny auctions exciting.

Buy It Now lets you purchase the auctioned item at a set retail price, bypassing the bidding competition entirely. When you use Buy It Now, the auction ends immediately, you pay the listed price, and no further bids are accepted.

After winning, go to your Dashboard and click Claim Prize. Depending on the auction type, you may need to complete checkout, confirm your wallet details, or provide shipping information for physical prizes.

Yes. GoFogo is built on the Fogo blockchain, meaning every bid, every timer reset, and every prize payout is recorded on-chain and publicly verifiable. There is no hidden server logic — the auction smart contract determines outcomes, not a centralized server.

On-chain means all auction activity is recorded on a public blockchain ledger. Anyone can verify the order of bids, the final winner, and the prize payout by inspecting the blockchain. This eliminates the possibility of the platform manipulating results.

Gas fees are transaction costs typically charged on blockchain networks. GoFogo uses a gasless bidding system, meaning you do not pay network transaction fees when placing bids. This makes the bidding experience smoother and the true cost of each bid fully predictable.

Yes. A compatible wallet is required to purchase bid credits, place bids, and claim prizes. Your wallet is your account — GoFogo does not use usernames or passwords. Your wallet stays fully under your control at all times.

Yes. The Auction History page shows all completed auctions, including the final prices and winners. Since auctions are on-chain, results are also independently verifiable on the Fogo blockchain explorer.

Yes. The Upcoming Auctions page shows scheduled auctions so you can plan ahead, preview the prizes, and make sure you have enough bid credits ready before the action starts.

Experienced bidders often watch an auction before jumping in, bid strategically in the final seconds rather than early, and keep spare bid credits available to stay competitive. Setting a personal budget for bid credits before each auction helps prevent overspending.

There is no per-session limit — you can place as many bids as you have bid credits for. However, each bid costs one credit, so your bid count is naturally limited by the pack you purchased.

Contact support as soon as possible and include your auction ID and wallet address. Because all bids are recorded on-chain, our team can investigate exactly what happened and resolve the issue accurately.

Visit the How It Works page for a full step-by-step walkthrough, the Auction Rules page for official participation guidelines, or the Support page to contact our team directly.