In parallel with the current auction system, I propose an additional auction mechanism, Secret Bid Tender in Auction.

In this system, projects will make the highest dot bid to win a parachain slot. Offers will be confidential. Bids will be made one time. The project that makes the highest dot bid at the end of 1 week will win the parachain slot. Dots will not be locked for 2 years and will be returned to their owners immediately. Dots of losing projects will be burned.

- There is a new idea for an auction system called Secret Bid Tender in Auction.
- Projects will make secret bids to win a parachain slot.
- The project with the highest bid after 1 week will win the slot.
- The bids will be made one time and the winning project will get their money back right away.
- The losing projects will lose their money.

#1936 Secret Bid Tender in Auction

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