From April 16th, we officially list Bounce Finance Governance Token (AUCTION) on the ONUS application. Soon after AUCTION is added, users can perform the following features:
- Off-chain transactions: Send and receive AUCTION with other users in the ONUS network.
- Exchange: Swap from VNDC or USDT to AUCTION and vice versa.
About Bounce Finance Governance Token
Bounce is a decentralized auction platform, incorporating liquidity mining, decentralized governance and staking mechanisms. Bounce Finance’s goal is to improve the speed and efficiency of auctions in the DeFi ecosystem, allowing users to build, design, collect, and trade all assets, tokens, and NFTs on different chains. The first principle of Bounce is scarcity of resources, which creates a competitive swap environment. Bounce provides a competitive environment, for a limited supply of tokens or other assets like NFT’s. The assets can be auctioned off in various ways, such as:
- Fixed Swap Auction: an auction where auctioneers and participants agree to execute a deal based on a set price. The fixed swap auction is time contingent and automatically executed. Auctioneers and participants receive swapped assets at the same time.
- Dutch Auction: the price of the assets starts at an initial price (the ceiling price) and drops by a fixed amount periodically (eg., 0.1 ETH every 10 minutes).
- Sealed-bid action: Bounce provides sealed-bid auction on the blockchain, with some differences from the traditional sealed bid auction. The final result of a sealed-bid auction is revealed when the pool time runs out. The smart contract automatically fills up bid orders from highest bid price ratio all the way down until all the tokens in the pool are sold.
What is AUCTION Token?
AUCTION is a native token of the Bounce Finance ecosystem and can be used to:
- Governance voting: Each AUCTION token represents one vote in the decision making process of the Bounce platform governance.
- Medium of exchange: The AUCTION token can be used as a currency for pool creators, who can choose to receive their auction proceeds in AUCTION tokens.
- Exclusive auction creation and participation: Creating more advanced auction types is only available for AUCTION token holders. In addition, exclusive pools with beneficial token prices are only available to AUCTION token holders.
- Name: Bounce Finance Governance Token
- Symbol: AUCTION
- Platform: Ethereum, BNB Chain
- Standard: ERC20, BEP20
- Type: Utility, Governance
- Smart Contract Address:
- Ethereum: 0xa9b1eb5908cfc3cdf91f9b8b3a74108598009096
- BNB Chain: 0x48DC0190dF5ece990c649A7A07bA19D3650a9572