# The GBM Auction Festival

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In the lead-up to the Initial Distribution Auction (IDA) and the official launch of the GBM Protocol, we’re hosting the **GBM Auction Festival** - a curated series of live auctions in collaboration with our partners.

### 🎯 Why Participate?

* **📦 Eligibility for the Auction Festival Airdrop**\
  Earn XP by participating in auctions and completing quests during the Auction Festival to earn your share of the $GBM Airdrop

### 🧮 How to Earn XP During the Festival

* **Bidding**\
  Earn XP based on the **USD value of your bid**\
  1 USD = 10 XP\
  \
  You'll also earn bonus XP for placing your first bid.<br>
* **Winning**\
  When you win an auction, you earn a bonus 10,000 XP<br>
* **Selling**\
  If you successfully sell an asset in an auction, you earn a bonus 5,000 XP\
  (cancelling an auction or receiving no bids = no XP)<br>
* **Questing**\
  Complete quests on [Zealy](https://zealy.io/cw/gbm/questboard) to earn XP for social activity<br>
* **Referrals**\
  Refer your friends to earn additional XP, you'll also earn a share of what your referral earns!

### 🎁 How the Festival Airdrop Distribution Works

At the end of the Festival:

* Your total XP will be compared against the total earned by all participants
* Your airdrop portion will be **calculated pro rata** based on your share of the overall XP pool
* Anyone who has attempted to abuse the system will be penalised, and may have their XP reduced

**The more you participate, the larger your share of the Airdrop.**