AUCTION
Name
AUCTION
Summary
-Bounce finance’s governance token Auction is an ethereum based token used to power the platform -Bounce finance was founded in 2020 by ANKR’s founders Chandler Song and Ryan Fang -Bounce finance’s decentralized token allows users to swap a limited supply of tokens in a competitive movement. -Bounce fInance uses the ethereum blockchain network
Rating
Symbol
AUCTION
Overview
Bounce finance governance token, Auction is based on the Ethereum blockchain network where its protocol allows decentralized auctions to occur. It utilizes the concept of swapping, which basically refers to the seamless exchange of tokens in a competitive and efficient environment, for a limited supply of tokens. Bounce made the swapping platform while relaxing the limitations which are generally associated with it. Bounce aims to allow their users to launch tokens of their own and NFTs in a fair as well as competitive swap environment. In August 2020, Bounce launched auction pools namely, Fixed and dynamic ratio swapping. Bounce was also able to successfully conduct an experiment BOT ( Name of the token at that time ). Bounce has made several improvements to its platforms as follows : Bounce governance V1 : Staking for governance, On chain proposals, Governance vault and social trust No loss lottery and NFT lottery Bot token migration : Migration from BOT to AUCTION allows users to participate in decentralized as well as centralized auctions. Bounce has announced that they will become the first decentralized marketplace to host Polkadot and Kusuma parachain slot auction crowdloans , This enables parachains and teams using these chains to issue fair and competitive token sales and benefit from its governance, interoperability and security which would allow users to build variety of applications and use cases.
Historical Price Movement (in INR)
Technology
AUCTION is based on the Ethereum Blockchain network, It uses Solidity as its programming language.
The staking mechanism of AUCTION is proof of stake.
Use of Native tokens in the ecosystem: AUCTION is the Governance token of Bounce Finance. It supports the various incentives on the protocol, provides benefits and voting as well as governance rights for holders
It can also be used for transaction of certain listings like NFTs.
Burned tokens
280000
New map supply
220000
Bootstrap auction
1500
Founding team
7000
Public
15000
Volume ( as of 11th april 2022)
$2,716,807
Total Supply
2,083,956 AUCTION
Circulating Supply
2,083,955.60 AUCTION
Crowd Sales
Bounce is funded by 7 investors
Funding
15/03/2020: Venture Round- NA
Country
United States of America
Name of Organisation
BounceDAO Ltd
Year Incorporated
2020
Registered Address
San Francisco Bay Area, West Coast, Western US
Dispute Resolution and Governing Law
United States of America
Country Risk Assessment
A1
Founding Team
| Name | Designation | Education | Experience |
| Chandler fang | Co-Founder | University of California, Berkeley: Bachelor of Science (BS), Electrical engineering and computer science | 5Yrs |
| Ryan Fang | Co-founder | University of California, Berkeley, Haas School of Business: Business Administration | 8Yrs |
