You may find the DKP standings here: http://www.webdkp.com/dkp/Stormreaver/Sovereign/
The following is a basic summary of the rules we'll be following when we are using Open Bid DKP. As a general summary, the way bid DKP works is that you earn points for being available to raid on raid nights, and you get to bid these points for the gear that is linked. If you have 100 DKP earned and really want an item, you might choose to bid your whole wad, but if you only want the item for a minor upgrade, you might bid less such as 10 or 30 DKP.
->5 DKP earned at start of raid night (10 minutes before raid starts to make sure everyone is invited)
->5 DKP earned at end of raid night (after loot goes out, please stay in raid after last boss kill)
->5 DKP minimum bid main spec
->Offspec is "free" but to make sure key hybrid classes are geared for raid flexibility, offspec is prioritized according to official raid roster outline
->10% decay on DKP per week -- Don't hoard your points
->Minus DKP if you do not respond to ready check after break or do not post out if you are absent or late
->Dragon Reserves/Trial Raiders earn half DKP for a night (awarded at the start) but have equal bidding priority to main raiders
Earning and Spending DKP:
DKP will be awarded with 5 points being given for being on time and ready to go at 7:50 pm server time (8:50EST) (this means you are ready to enter the instance and ideally buffed). Another 5 points is awarded for being there until the end of raid. Additional points may be awarded at the raid leader's discretion.
You may receive full DKP if you are on standby; this means that you were not chosen for a raid spot and that you agree to remain in mumble and in the raid group in case the raid needs to bring you in. You will not receive standby DKP if you refuse to join the raid or if you are not available when an officer contacts you to bring you in. You must have raider status or be an initiate working towards raider status in order to receive standby DKP. You are allowed to switch to an alt when on standby, but you must immediately swap back when asked; failure to do so may result in having your main removed from the raid group for the night and receiving no DKP for the remainder of the raid.
DKP will decay at a rate of 10% every week (the decay algorithm is run in the few days after the last raid of the week). This is to prevent long-time members from accumulating large amounts of DKP, preventing newer members from ever catching up. This should encourage people to spend their DKP rather than to hoard. A large DKP decay (75-99%) may occur at the start of new expansions or raid tiers at the officers’ discretion. Note that the WOD expac will start DKP fresh with people attending 50% or more post-6.0 patch raids with us starting WOD with 5DKP as a nominal incentive to start getting the team back together again pre-WOD.
Raiders must be responsible for keeping track of their DKP values. They are listed on the WebDKP website, and the officer in charge of DKP for the particular raid maintains a list of current values. You can get your current DKP total at any time by sending a whisper to the officer running DKP that night of "!DKP” (no quotes). If you believe there is an error with your DKP, please let an officer know as soon as possible.
Loot in raid will be distributed by open bids in raid chat. All items will have a starting price of 5 DKP for main spec and zero DKP for off spec; members of the raid are then able to increase their bids in increments of 5. A raider is free to bid any amount up to her total DKP; however the number bid will be what is charged if the item is won regardless of any lower bids received. Raiders may only bid up to their total DKP; going negative is not allowed. In the rare case that someone wants a main spec item but does not have the 5 DKP minimum (assuming no one else wants the item), the raider will be charged whatever DKP amount she currently has. In the even rarer case that two (or more) members who have the exact same DKP total bid all their DKP for an item, those members will /roll for who gets to purchase the item. Items that are unwanted and have little disenchant value may be bid on for transmog purposes using /roll.
In the case in which 2 of the same item drop, the two highest bidders (when any third bidder removes him or herself from the bidding) will both be charged the 2nd highest bid. In the event a bidder places a large bid when two of the same items drop and no other bidders can match the bid amount, the first bidder wins one of the items for the amount of their bid. The remaining bidders will then bid normally on the 2nd item until a winning bid is reached.
We do not have off spec bidding but rather have a modified loot council where those raiders whom we rely on the most to go offspec for certain fights or the absence of a tank or healer will get priority to make sure their offspec is geared for the purpose of benefiting the raid. This is in the interest of keeping back-up roles geared, allowing us to run a leaner/more efficient roster and allow more people to see raid time. Once the people who go offspec more often are geared, remainder offspec gear will be /roll'ed off. Note that at the start of an expac when disenchants are extremely valuable, we may at our discretion also choose to bank the DE's rather than give out offspec gear on a /roll basis for a short period of time.
BoE items must be equipped immediately upon purchase and may only be purchased for main spec. Members are not allowed to purchase BoE items with DKP to sell for gold, even if the sale is to another guild member. BoE items that no one wants will be taken by the council and sold for the guild bank. Likewise, BoP items may not be purchased for DKP and sold to other members of the raid.
The purpose of this or any loot system is to distribute gear fairly throughout the raid. Everyone should be courteous and think about what will benefit the raid most when deciding whether to take a piece of gear.
If you do not show or show up significantly late without prior notice, you will be charged 10 dkp. We plan our raid composition the roster available in a given night and even a last minute post-out is extremely disruptive to planning a mythic raid roster; wasting everyone's time to fill your spot at the last minute is completely avoidable with prior communication. Exceptions to this policy will only be made in the case of emergencies.
You will be charged 5 dkp if you are not back from our mid-raid break when the ready check goes out. You will also be charged 5 dkp if you spontaneously go afk and waste the raid's time. If you must go afk for an emergency, you must inform the raid leader or a raid assist; if you are not back by the time we need to pull a boss, you will be charged 5 dkp and/or replaced for the remainder of the raid.
DKP and Trial or Reserve Raiders:
"Dragon Reserve" rank raiders earn DKP at half the rate where only start of night DKP is awarded (not end of night), however bidding is equal priority to others for whatever amount you wish to bid on a given item. At the end of the trial period, a nominal additional amount of DKP (10 for 2 week trial period) will be given upon being promoted to a main raider status to make up for having reduced DKP earning rate during the trial period.
*Acknowledgement: Much of the above policy was adapted to be Sovereign-specific from <Dulce Bellum>'s DKP loot policy document as a fellow 2-night raiding guild that raids mythic content.