The Bounce Token (AUCTION) protocol provides users with an easy-to-operate cross-chain auction protocol. The network functions as a fully decentralized economic matching protocol built specifically for Web3 applications. Bounce combines a flexible auction system, cryptocurrency, and advanced NFT (non-fungible tokens) technology to empower users and improve the NFT experience.
One of the unique things about Bounce is that its designed specifically to meet the needs of NFT and scarce digital asset providers. The network creates a highly competitive environment which makes it ideal for limited supply assets. This competition drives auction prices up. As such, the Bounce Token platform has already achieved some impressive statistics. The network has completed over 6,500 auction pools and 700,000 ETH in transaction volume.
What Problems Does Bounce Token (AUCTION) Solve?
Bounce Token attempts to provide relief for multiple issues that have slowed NFT adoption. For one, the network battles centralization. The system operates as pure code with no central organization or gatekeepers to edit, block, or confiscate your transactions. This strategy makes the Bounce Token project ideal for a global audience.
Benefits of Bounce Token (AUCTION)
There are a lot of different ways that Bounce users benefit. For one, the protocol is decentralized and trustless, so anyone can access its wealth generation features. The network provides access to a variety of low-risk passive income generating services including liquidity mining and staking. Best of all, both of these features enable you to retain ownership over your digital assets and secure profits.
Easy-to-Use
The developers behind the Bounce Token network went to great lengths to ensure the protocol was easy enough for new users to navigate. The system leverages a simple interface that enables you to access a diverse range of products and tools for creating customizable auctions across a variety of applications.
Privacy
Privacy continues to remain a primary concern for crypto traders. Bounce keeps in line with the DeFi movement in terms of protecting your privacy. The protocol doesn’t require you to divulge your personal information. Instead, you simply need to connect your wallet to start using its features. Bounce accepts a wide range of popular wallets including MetaMask, Binance Chain wallet, WalletConnect, Coinbase Wallet, Ledger, and Trezor.
Multi-chain NFTs
Users can easily create, issue, monitor, trade, and auction off their NFTs using the Bounce Token network. Bounce originally accepted ERC721 and ERC1155 exclusively. However, the network has added support for the Binance Smart Chain in the way of BEP721 tokens. Additionally, developers can integrate Bounce Token features across a variety of blockchains.
Currently, the system integrates with Ethereum, Polkadot, BSC, Solana, and more. This multi-chain approach enables users to connect any customized digital asset to the blockchain. As such, the protocol has found new use cases for NFTs across multiple industries.
OTC
The Bounce Token Auction protocol supports OTC (over-the-counter) trading. OTC trading is popular among whale investors. The Bounce system makes it possible for parties to conduct these large trades in a trustless manner while remaining secure. This feature is a huge benefit for institutional investors as they can save on their large trades moving forward.
How Does Bounce Token (AUCTION) Work
The Bounce Token functions as an ecosystem of products for matching economic activities. Users can leverage the network’s tools to build, design, connect, collect and trade NFTs in a streamlined manner. The Bounce Web App is currently available on Ethereum and Binance Smart Chain. However, the developers intend to expand the network to encompass the top-performing DeFi networks today.
Bounce Finance
Bounce Finance is the main product offered by the Bounce Token exchange. This decentralized auction protocol connects people, matches trades, and facilitates peer-to-peer asset exchanges. Auction hosts have a selection of ways to sell their NFTs including fixed swap, sealed-bid, Dutch, and English auctions, You can also trade your digital assets in person using the OTC features.
Freelancer DAO – Bounce Token (AUCTION)
The Freelancer DAO is a highly anticipated feature coming to the Bounce Token in the coming months. It will utilize smart contracts to link talent with those seeking services. The protocol integrates NFT technology into the freelancer market. It enables freelancers to provide services that are tracked and provable via any blockchain explorer. You can see vital data including the author, buyer, transaction time, and work URL with a simple click.
Fangible
Another major advantage Bounce has over the competition is Fangible. This celebrity collectibles and memorabilia NFT marketplace provides new ways for talent to connect with fans. The network has already secured some world-renown talent as part of its Fangible launch strategy including social media influencer and boxer Jake Paul.
Bounce DAO Toolbox
The Bounce DAO Toolbox provides developers with everything they need to leverage Bounce’s features in their creations. Developers can quickly and efficiently create immersive DeFi marketplaces to meet any need. The toolbox includes a variety of UI kits and API access.
AUCTION
AUCTION is the utility token for the Bounce Token network. AUCTION is an ERC-20 token that lives on the Ethereum blockchain. It’s used to send value and interact with Bounce’s features. You can use AUCTION to pay fees, host auctions, create NFTs, and send value globally.
Governance
The Bounce Token network integrates a community governance mechanism. This system gives the average user a way to be heard. Users can put forth proposals and other recommendations for the protocol. These protocols go for a community vote. The more tokens you stake, the more weight your vote holds.
Bottom Line
The developers behind the Bounce token network wanted to help drive NFT adoption through the roof. Their easy-to-use protocol includes everything you need to get started on your NFT collecting and creating processes. The combination of low fees and auction options makes this protocol one to watch in 2022.
