> For the complete documentation index, see [llms.txt](https://newauction.gitbook.io/newauction/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://newauction.gitbook.io/newauction/neau-token.md).

# NEAU token

BEP-20 Token\
Name: NewAuction\
Symbol: NEAU\
Total number of tokens: 200M\
Contract: 0x5ccd960cf7942b825fc9d15bbc01f7bb7ee66af3<br>

Benefits of $NEAU holders?

$NEAU would be the only token that can be used in the NewAuction platform. Buyers would have to use $NEAU to make an offer while the sellers would only get $NEAU as their profits. Holding $NEAU would guarantee you the access to many exciting NFT in NewAuction platform.\
Also, $NEAU would be periodically bought back and burned by the team. In the long run it is a deflationary token as there is a limited supply of $NEAU, while for every auction; 1% of the total $NEAU would be sent to the team for the team to burn. The design of this system would keep the token price increasing in the long run.

Moreover, NewAuction has a tier system. For different amounts and time of $NEAU staked, one would be under different tier systems. There would be 4 tiers, and the higher the tier, the less fee one has to pay. This is also how we reward our long-term believer and add value to $NEAU. In $NEAU, the diamond hand would get rewarded!<br>