Section 1
Connect Your Wallet
First, connect your wallet.
Your wallet allows you to:
- • Purchase bid credits
- • Place bids in auctions
- • Claim prizes if you win
Your wallet stays under your control at all times.
What Is a Penny Auction?
A penny auction is a type of online auction where each bid costs a small, fixed fee and incrementally raises the item's price — typically by one cent per bid. The auction runs on a countdown timer that resets with every new bid, so the item sells to whoever places the last bid when the clock reaches zero. Unlike traditional auctions, participants pay for each bid attempt regardless of whether they win. Final prices are often a fraction of retail value — sometimes under a dollar — because the timer-reset mechanic means only one bidder can win at that price. For example, a $500 prize might sell for $4.37 if 437 bids are placed at one cent each, with the platform earning revenue from bid credits rather than from the final sale price.
GoFogo is a penny auction platform built entirely on the Fogo blockchain, with 40ms block times and 50,000+ TPS. Every bid, timer reset, and prize payout is executed and recorded on-chain by a smart contract — making GoFogo a trustless penny auction platform where all outcomes are publicly verifiable on the Fogo block explorer. No company server controls the result; the smart contract enforces the rules identically for every participant.
Section 2
Get Bid Credits
To place bids, you'll need bid credits.
Each bid you place uses 1 bid credit.
When you place a bid:
- • The auction price increases slightly
- • The countdown timer resets
- • You become the current leading bidder
Section 3
Join a Live Auction
Visit the Live Auctions page and pick something you want to win.
Each auction shows:
- • The prize
- • The current price
- • The countdown timer
- • Live bidding activity
Most auctions start at very low prices, often just pennies.
Section 4
Place a Bid
Click Bid to enter the action.
When you bid:
- • 1 bid credit is used
- • The auction price increases slightly
- • The countdown timer resets
You are now the leading bidder. But watch the clock — someone else may jump in before the timer expires.
Section 5
Countdown Battles
Every new bid resets the countdown timer.
That means auctions continue as long as people keep bidding.
When the timer finally reaches 0…
The most recent bidder wins.
Section 6
Claim Your Prize
If you win an auction:
Congratulations!
Head to your Dashboard and click Claim Prize to complete checkout and redemption.
Depending on the auction, you may need to:
- • Complete checkout
- • Confirm wallet details
- • Provide shipping information
Section 7
Buy It Now
Some auctions include a Buy It Now option.
This lets you skip the bidding battle and secure the item instantly.
If you click Buy It Now:
- • The auction ends immediately
- • You purchase the item at the listed price
- • No further bids are accepted
Section 8
Provably Fair Auctions
GoFogo auctions are trustless — the rules are enforced by a smart contract on the Fogo blockchain, not by a company server. Traditional penny auction platforms have faced criticism for allegedly manipulating bid activity and timer resets on the backend, a concern that is structurally impossible on GoFogo.
Every bid you place is recorded on-chain as a public, immutable transaction. The winning bid and prize payout are determined by the smart contract code — not by a GoFogo employee, not by a backend algorithm, and not by anything a centralized platform operator can alter after the fact.
Anyone can verify the full history of any GoFogo auction by inspecting the Fogo block explorer. The contract enforces the rules identically for every participant.
No GoFogo employee can extend a timer, reorder bids, or override a winner. The outcome is determined on-chain, and it is final.
Section 9
Auction Strategy
Want to improve your chances of winning? Here are a few tips used by experienced bidders.
Watch Before You Bid
Spend a minute observing how the auction moves. Some auctions speed up dramatically in the final seconds.
Timing Matters
Many auctions get most competitive near the end. Bidding strategically in the final moments can help you stay competitive.
Keep Extra Bids Ready
The timer resets every time someone bids. Having extra bid credits available helps you stay in the action.
Stay Focused
It's easy to get caught up in fast auctions. Always keep track of your bid credits and the current auction price.
