SIMPLE EXAMPLE
What is a lowest unique bid?
A value is unique when exactly one participant submitted it. The smallest unique value wins.
| Bid value | Entries | Result |
|---|---|---|
| 0.01 | 3 | Duplicate |
| 0.02 | 2 | Duplicate |
| 0.03 | 1 | Lowest unique winner |
| 0.04 | 4 | Duplicate |
0.03 wins because it is the lowest value submitted once.