Bid mechanism

• A minimum bid of 0.0001 ETH can be submitted.

• Thereafter, all submitted bids must be 2% higher than the previous bid.

• If someone submits a higher bid than a previous bidder, the funds of the previous bidder are refunded.

• To prevent malicious users from blocking ETH refunds via the contract, the exact refund mechanism using WETH from the nouns contract has been added. This ensures the contract continues to function smoothly in all cases.