You probably know about online NFT auctions. But have you ever tried a platform with both the physical and online NFT auction?
Bounce Finance is one platform with amazing crypto and NFT community features.
In this blog post, we will learn more about Bounce Finance, its native token AUCTION, and its features.
What Is Bounce?
Bounce Finance is a decentralized finance protocol. Token and NFT auctions, a physical auction for collectibles, and an auction solution for advertising space are the three main components of Bounce Finance.
The mission of Bounce Finance is to unite the auction market by providing a single platform that meets the changing demands of consumers and businesses. Thanks to the ecosystem's reputation system, users can determine which auctions in the ecosystem may be trusted.
What Is an AUCTION Token?
With features like governance, staking, in-app marketplace/auction currency, and benefits for holders, AUCTION is the driving force behind Bounce's whole ecosystem of decentralized applications.
Current trading price: $5.090
Market capitalization: 50.90 million
Total supply: 10.00 million
3 Pillars of Bounce
Non-Fungible Token AUCTION: Bounce provides ten distinct kinds of auctions that may be held on over 40 blockchains in a permissionless environment. This makes it possible for anybody to host and take part in a wide variety of auctions.
Real-world Collectables AUCTION: Tangible treasures can be minted into NFTs and then auctioned on the blockchain through the Bounce platform, bridging the gap between physical and digital assets.
Ad Space AUCTION: Bounce is the first company to provide a new marketplace that allows advertisers and publishers to purchase and sell ad space through decentralized auctions.
Features & Applications of Bounce
Staking
Users can stake AUCTION to passively gain rewards and yield generated by the Bounce ecosystem of products.
Holders of Bounce Tokens can gain additional perks of Bounce V3 through the use of premium account rights.
Governance
Bounce is a protocol that is entirely decentralized and community-governed, and the holders of AUCTION tokens are the only ones who can rule it.
Marketplace
Spend your AUCTION at one of the many distinct Bounce Marketplaces, where you can hire and pay talent to buy in-game stuff within the Bounce Metaverse!
Web3 Auctions
Users of Web3 will benefit from increased transparency, efficiency, and accessibility in the auctioning, bidding, and purchasing processes thanks to the blockchain technology on the completely decentralized auction platform provided by Bounce.
Bounce has been one of the most popular decentralized auction platforms in the Web3 ecosystem since its inception in September 2020. It is highly valued by buyers and sellers in the DeFi and NFT industries. The platform also provides the widest variety of auctions available on Web3; these range from the traditional English auction, in which the bidding begins at the lowest feasible price, to the cutting-edge playable auctions, in which participants compete in relatively straightforward games for the opportunity to purchase assets.
Tokenomics
As the platform continues expanding our freelancing marketplace, the Bounce Recruitment platform will implement a loyalty rewards system linked to the AUCTION token. The top users on the network will be recognized and rewarded through the loyalty system, which is determined by their level of activity, contributions, and community reviews. The points for the platform are referred to as WORK, and at any time, they can be exchanged for AUCTION. In the Metalents system, WORK functions not as a coin but as a point representation.
WORK can be redeemed for $AUCTION:1 WORK equals 1 USD.
At the time of redemption, the WORK to $AUCTION ratio will be determined based on the USD value corresponding to the current fair market price of the AUCTION.
Because WORK is an internal Bounce Recruitment rewards system based on real user actions that benefit the network, WORK can be redeemed for AUCTION, but AUCTION cannot be used to purchase WORK. This is because WORK can only be obtained by performing real user actions that benefit the network. In addition, WORK cannot be shared with other users on the Metalents platform under any circumstances.
If a user decides to exchange their WORK for AUCTION, their WORK points will be destroyed, and their balance will be reset to zero.
Future of Bounce
Bounce Finance plans to roll out a new hybrid finance infrastructure to improve transparency and user experience shortly. This infrastructure will combine a centralized account management system with a decentralized application and tool access system.
Independent DeFi units that offer customization and flexibility for particular projects, enhancements to the auction process through the deployment of a "regret" feature, and cutting-edge auction mechanisms are among the year's most notable innovations.
