What is Bounce?
Bounce (AUCTION) is a decentralized auction protocol built on the Ethereum blockchain, designed to facilitate the buying and selling of token and non-fungible token (NFT) assets. The platform allows for a competitive environment for tokens or other digital assets with a limited supply, offering various auction principles and time limits, such as fixed price, decreasing cost, or hidden price auctions.
One of the key features of Bounce is its ability to connect traders without the need for intermediaries. The platform is built on multiple blockchains for increased potential and flexibility, and is inspired by decentralized exchange platforms like Uniswap. However, unlike Uniswap, which offers an endless liquidity pool, Bounce creates a competitive environment for tokens and other assets with a limited supply.
Bounce has several products that operate on its platform, including Bounce Finance, an auction platform for trading rare digital assets; The Fangible, an NFT marketplace connecting fans with artists; Freelancer DAO, an upcoming product that aims to link digital freelancing supply with demand; and Bounce DAO Toolbox, a feature that gives users the tools to create their own decentralized auction sites.
The native token of Bounce is AUCTION, which is used to facilitate operations on the platform and add value to the ecosystem. The AUCTION token has several applications, including governance voting, medium of exchange, exclusive auction creation and participation, and social trust verification. Each AUCTION token represents one vote in the decision-making process of the Bounce platform governance, and holders have more voting power and influence on proposals.
In 2021, the developers of Bounce introduced the next generation of the platform, Bounce V2, which offers an improved user experience and new features such as an over-the-counter (OTC) trading feature for ERC20 tokens, and a search bar for finding auctions on the top page.
Bounce is a decentralized governance system, where the community governs the platform through the AUCTION token. The protocol allows for users to discuss, debate, and implement platform changes without relying on a centralized team. The founders of Synthetix, Compound, Aave, and Balancer are available to assist in the long-term management of Bounce.
New BOUNCE tokens are created through the process of staking. A community of governors, or token holders, oversee the Bounce platform. To earn votes, governors must stake their AUCTION tokens in the transaction fee staking pool. The quantity of AUCTION tokens staked in the pool equals the voting power. A minimum of 2% of the total votes is required to make a proposal.
Governors who make proposals are eligible for 2% of the daily governance prizes, with 98% of the day-to-day governance incentives going to voters. The governors are rewarded based on their voting power relative to the overall electoral power.
Bounce (AUCTION) is a revolutionary blockchain-based auction platform that connects traders without intermediaries. The platform is built on the Ethereum blockchain and is designed to provide a decentralized, trustless, and competitive environment for trading rare digital assets such as tokens and NFTs.
Bounce was inspired by Uniswap, a decentralized exchange that offers players an endless liquidity pool. However, Bounce takes this concept a step further by creating a competitive environment for tokens or other assets such as NFTs with a limited supply. Users can trade these assets in various ways, including token sales, with different sale principles and time limits. For example, tokens can be auctioned with fixed price (fixed swap auction), decreasing cost (Dutch auction), or hidden price (sealed-bid auction) principles. NFTs, like token sales, can also be auctioned, but with typically fewer (or only one unique piece) NFTs available for purchase.
The core component of Bounce is the AUCTION token, which powers the platform and provides governance rights and incentives for holders. AUCTION is used to pay for certified listings and to provide access to exclusive auction types and pools with favorable token prices. Additionally, AUCTION token holders can participate in governance voting, where each token represents one vote in the decision-making process of the Bounce platform. This allows for a decentralized and community-driven platform where users can discuss, debate, and implement platform changes without relying on a team of administrators.
Bounce offers several different products and features to users, including Bounce Finance, an NFT marketplace called The Fangible, an upcoming product called Freelancer DAO, and the Bounce DAO Toolbox. These features provide a diverse range of options for users to trade, buy, and sell digital assets, as well as to create their own decentralized auction sites.
In 2021, the developers of Bounce introduced the next generation of the platform, Bounce V2, which offers an improved user experience and a new OTC feature that allows users to trade any ERC20 token over the counter without restrictions or slippage at a competitive price. Additionally, Bounce V2 aims to become the "Google of decentralized auctions," with a search bar on the top page that allows visitors to search for auctions.
Overall, Bounce (AUCTION) is a cutting-edge platform that provides a unique and innovative solution for trading digital assets in a decentralized and community-driven environment. With its native token, AUCTION, and its diverse range of products and features, Bounce is poised to revolutionize the way we trade and exchange digital assets.
In terms of token creation and staking, the Bounce platform is governed by a community of governors (token holders) who oversee the platform. To earn votes, governors must stake their AUCTION tokens in the transaction fee staking pool. The quantity of AUCTION tokens staked in the pool equals the voting power. Meanwhile, a minimum of 2% of the total votes (the total number of staked tokens in the transaction fee staking pool) are required to make a proposal.
Furthermore, each proposal and project on the social trust board has equal votes. (For example, if the user stakes 100 AUCTION tokens, they get 100 votes in each proposal and project). In addition to transaction cost staking benefits, governance participants receive 60% of the daily payouts. Participants are rewarded based on their voting power relative to the overall electoral power. If a governor votes in 4 proposals and has 100 votes in each proposal, their total voting power for reward calculation is 400.
The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.
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