Bounce price

Bounce Finance is a trustless auction platform unlocking a unique market in the DeFi space by creating auctions and token sales for scarce digital assets and NFTs. It is compatible with multiple blockchains. Users can privately or publicly trade their assets without worrying about lack of liquidity, third-party risks, and rug pulls.

Auction types include fixed swap, sealed-bid, Dutch, and English auctions. Fixed swap auctions are helpful when an auctioneer has a target value in mind for the assets, as both auctioneers and bidders agree on a set price. Bounce Finance provides fixed swap auctions for both ERC-20 and BEP-20 tokens.

Sealed-bid auctions on a blockchain differ from traditional ones as the smart contract enables buyers with the highest bid ratio to automatically receive their share of tokens until all tokens have been sold.

In Dutch auctions, assets begin with a starting "ceiling price." The price of assets then periodically drops by a predetermined amount. The auction ends once all assets have been sold. In contrast, in English actions, the auctioneer sets a reserve price, and bidders must offer bid increments to receive the asset.

Bounce also offers Lottery and NFT auctions, ideal for large groups. A maximum of 60,000 people can enter the draw with zero entry barriers. Additionally, Bounce launched its open NFT marketplace called Fangible. The team mainly focuses on the user experience by lowering the gas fee and building an intuitive platform for artists to showcase their work.

Bounce also offers other functionalities with their features, Bounce Polkadot and Bounce Toolbox. Bounce Polkadot allows users to benefit from parachain bonds through staking and crowdloans. Meanwhile, Bounce Toolbox helps developers to launch their own auction platform by providing them with necessary UI kits and API access to Bounce NFTs.

AUCTION price and tokenomics

AUCTION is the native platform token of Bounce Finance and has a maximum supply of 10 million.

The initial utility token of the Bounce platform was BOT. It was migrated to AUCTION with a ratio of 1:100. BOT tokens had a limited supply of 100,000, and the features and utility value of the BOT token remained unchanged. AUCTION also provides the same functionality by capturing asset value and conducting various platform operations.

AUCTION tokens are allocated towards transactional mining, staking and liquidity rewards, and governance. Early supporters of Bounce Finance are also fairly compensated.

About the founders

Bounce Finance was co-founded by Chandler Song and Ryan Fang in 2020. They are also the creators of Ankr, a Web3 decentralized platform used to improve the performance of blockchain ecosystems.

Song was a full-time engineer at Amazon, contributing to the AWS pricing and launch services. Fang worked as an investment analyst at Morgan Stanley and Credit Suisse.

In their most recent funding round, Bounce Finance raised an undisclosed amount from Coinbase Ventures, Hashed, Fundamental Labs, DHVC, Blockchain Capital, Pantera, and SNZ Capital.