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Bounce is a decentralized auction platform that supports transactions for tokens, NFTs and various other goods and services. Find out more about it here.

Decentralization has been a focal point in the blockchain world for the last several years. It has supported application development, improved how payments are made, enhanced trading activities and more. It can also be used to bid on and transfer digital assets through decentralized auctions. While there are other seemingly similar platforms in use today, Bounce stands apart as a decentralized auction platform with unique capabilities and features.

Bounce Finance’s decentralized auction protocol is rooted in the principle of scarcity. It offers a competitive space for small-supply virtual assets to be auctioned. Users are able to create their own events for NFTs and token sales. More than that, the platform offers a variety of options for auctioning digital assets to suit various needs. The available types include English and Dutch auctions, sealed bid auctions and fixed swaps. Through the platform, users are also able to benefit from the automatic execution of private or public over-the-counter (OTC) asset trading. 

Bounce uses its token, AUCTION, to complete transactions and for on-chain governance. In addition, the token can be staked to provide users with passive income through rewards, and liquidity mining is also available. Crowdloans are also available via Polkadot parachain bonds.

In 2020, Jack Lu and Chandler Song established Bounce Finance with the goal of providing an improved 

 experience for both tokens and NFTs. Its first two auctioning pool types were fixed swap auctions and dynamic ratio swapping, and this has expanded over the last few years. Through various rounds of funding, the platform has received financial backing from Blockchain Capital, Coinbase Ventures, SNZ Capital, Fundamental Labs and several other notable investors. 

To encourage interest in Bounce, Coinbase established a quiz with a financial reward for those who spent a few minutes learning about the decentralized auction platform. The Bounce metaverse has been enhanced with new features and upgrades since its launch only a few years ago. In fact, a second version was released that changed the format of the decentralized auction listings and brought other improvements to the table. A third version is scheduled to debut soon.

While there are other DeFi swapping platforms, most of them have been designed on the concept of infinite liquidity. Bounce, on the other hand, creates a competitive environment that is based on the scarcity of digital assets such as NFTs and tokens. The Bounce metaverse has been developed to improve the auctioning and trading of digital assets. By allowing users to create their own events and offering several unique types of decentralized auctions, users can more easily connect to interested parties. At the same time, bidders can easily search through active and upcoming events to identify the ones that meet their needs and interests. By doing so, Bounce takes the crypto concept of swapping to a different level.

In addition, the platform utilizes an information layer. Through this layer, users benefit from increased social interaction and have access to more information before making bids and completing trades. This information is provided in the form of data analytics.

To start using Bounce, a user must first connect a 

 and others. A user who has assets to offer must first create an event. Once the new listing is posted, it is published for users to consider. Users choose their preferred auctions and make their bids. Once a winner is selected through 

, the exchange is completed automatically.

 activities are also supported on the Bounce ecosystem. Another aspect of the platform is

. OTC trading supports competitive prices with the benefit of no 

Users can also take advantage of a price prediction tool built into the ecosystem. The interface supports price predictions for 

. A user can create a prediction pool and other users can place bets on the accuracy of that prediction. Making bets and receiving rewards are done through the use of AUCTION.

Bounce is a cross-chain platform that functions with Ethereum, BNB Chain and others. As a result, users can easily and quickly swap their native tokens for ETH and a few other tokens. 

An important aspect of the platform's first version was the establishment of governance. Bounce used to be governed by the community via BOT token holders. BOT was the original Bounce native token before the ecosystem migrated to AUCTION in 2021. The Bounce platform's community governance offers token holders the ability to suggest and debate changes as well as to implement them without the requirement of working with the Bounce team. 

In order to participate in governance, a user had to stake BOT tokens. This continues today with AUCTION staking instead. In addition, the original Bounce ecosystem functioned similarly to Ebay. The events for tokens and NFTs were discoverable by users through a list-style display. More than 6,500 auctions were completed through Bounce V1.

Bounce’s second version transitioned away from Ebay-like listings and into a Google-like platform. The list display that was used in Bounce V1 gave way to a search bar on the first page of the listings. Searches can be made using pool details, auction types and token names. Bounce V2 also introduced Bounce OTC as an alternative to auctions. This feature enables users to sell and buy ERC-20 tokens without slippage or limits.

At its core, Bounce is a decentralized auction protocol that provides users with several distinctive types of auctions. The platform supports a creator economy, so users are able to choose their preferred event type and establish new decentralized auctions. With notable differences between these types, it is important to understand their primary differences in order to fully appreciate the advantages of Bounce.

Fixed swap auctions are one of the event types supported on the Bounce ecosystem. Fixed swap auctions are available for 

 and ERC-20 tokens. One distinguishing characteristic of this type of event is a fixed price that both the bidder and auctioneer have agreed to. Fixed swap auctions are executed automatically, and the exchange of assets between the two parties occurs simultaneously. Often, fixed swap auctions are preferred by auctioneers who have a solid idea of the value of their digital assets.

In sealed bid auctions, bidders submit bids privately and ahead of the event's scheduled date. Unlike with open bidding, each person can only make one bid. On the event's date, all of the concealed bids are reviewed and the winners are selected via smart contracts. Smart contracts are used to automatically fill the orders from the top down until the assets have all been claimed.

At Dutch auctions, the auctioneer establishes a ceiling price, which is a starting bid amount. The assets are auctioned off based on this ceiling price, but the price drops incrementally over time. This continues until all of the assets have been allocated to bidders.

Just as tokens can be auctioned through the Bounce ecosystem through several methods, the same goes for NFTs. One of these ways is through NFT sealed bids auction pools. Each person who is interested in a rare NFT up for auction can submit one bid, and that bid is hidden until the event's scheduled date. When the date arrives, smart contracts are used to determine the winner or winners.

An NFT English auction requires the auctioneer to initially establish a reserve price. The price may be as low as zero. The reserve price is the minimum price that the item being auctioned can sell for. After a bidder has submitted a bid for the reserve price, the auctioneer can request higher bids. Often, the increment amount of each price increase is established upfront. There is no time limit for an NFT English auction. The event ends when no bidders are interested in paying a higher price than the top bid.

NFT Dutch auctions also have an established minimum price for the item being auctioned. However, rather than the price increasing as bids come in, the price in NFT Dutch auctions decreases incrementally. The event ends once a bidder is willing to pay the current price.

Another option supported on the platform is an NFT lottery auction. NFT lottery auctions start with the sale of tickets at a fixed price determined by the pool creator. Users must purchase lottery tickets with AUCTION. Those who purchase lottery tickets are entered into the contest for a chance to win NFTs offered by the auctioneer. A smart contract randomly determines the winning lottery ticket and transfers the auctioned NFT to the winner. The pool creator then claims the amount paid by the winner for the lottery ticket. Those who did not win the lottery can recoup the cost of their lottery tickets by simply claiming their principal amount back from the pool.

One of the newer features of Bounce Finance is 

. This is a freelance marketplace in the crypto space that functions similarly to Fiverr and Upwork. Currently, Metalents is used by crypto companies to identify and hire skilled talent with relevant experience. It is also used as a platform for those companies to spend their on-chain assets. Compared to other freelancer platforms, Metalents doesn’t have extensive KYC restrictions and has lower fees, both of which lower the barrier to entry for those looking to explore a wide talent pool of freelancers with extensive knowledge of the web3 infrastructure and ecosystem.

Bounce's evolution will continue with the upcoming Bounce V3 update. An early-bird version of the 

 went online on Feb 7, 2023. The public launch is scheduled for Feb 20. Upgrades will span from enhancing the information that users have access to and improving auctioning functions to introducing a protocol for mergers and acquisitions. In addition, syndicate investment opportunities will be offered. There will also be opportunities for individual swapping and lending. 

One of the most exciting updates that the platform's next upgrade will introduce is a hybrid account system. This hybrid system allows users to sign up traditionally, such as with an email address and phone number. However, decentralized access is also available. Users can choose to register as an individual, a company or an institutional investor before building their Bounce profile. While each of these user types has its own benefits and account features, all come with social login features and an email address.

Once registered, a user will be able to update their Bounce profile with details about their professional experience, education, investments and more. Users may choose between several available profile themes. Unlike LinkedIn profiles, user profiles on Bounce are interactive. Company profiles can also be built with details about its team members, fundraising activities, job openings and other relevant details. As a Bounce profile becomes more developed, more opportunities may be presented to the individual or company.

Once a profile has been completed, a user must bind their account to their wallet. An account may only bind to one wallet for each chain network. Bounce supports a wide range of wallets, and its compatibility with additional wallets continues to grow.

Since Bounce was founded in 2020, the platform has focused on enhancing its auctions and Metalents. Looking forward, the platform plans to integrate these features into a larger Metaverse Center. Several additional updates planned for Bounce are in the works, such as on-chain betting and gaming. This will enable users to develop and launch their applications without coding knowledge.

AUCTION is the native token for the Bounce ecosystem. This ERC-20 token is used for trading and auctioning transactions on the platform, and it also provides governance rights to those who hold the token. Those who hold more tokens have more voting power. In addition, users can stake their AUCTION tokens to promote their activities and increase their visibility, as well as earn rewards from the protocol fees generated. There will be more utilities of the AUCTION token as more features are added to the ecosystem in the future.

The max token supply is hard capped at 10 million tokens, and almost 6.5 million tokens are in circulation. The current total supply is at 7.64 million. 

As of Feb 9, 2023, the price of AUCTION is $6.06. The launch price was close to $25.50, and the price reached its peak of $70.44 on Apr 12, 2021. While the current price of AUCTION is well under its historic high, indicators reveal the possibility of a progressive price increase over the next decade. By the end of 2023, 

 predicts AUCTION's price to be $14.04. This increases to $16.26 in 2024 and $29.15 in 2026. By 2028, the price of Bounce's token could reach $34.35. The price may continue to rise to $65.99 in 2030 and $124.61 by 2032.

AUCTION’s value has dropped by roughly $64 from its high. While this may give some cryptocurrency investors a reason to pause, the token has considerable potential as an investment. As the native token of the Bounce ecosystem, it is used for auctioning as well as to execute trades, purchases and sales. In addition, staking rewards are paid in AUCTION. The token can easily be swapped for ETH, which enhances its utility. As the Bounce platform further develops, user activity is expected to grow. Bounce has progressively been updated since its debut only a few years ago, and many notable platform updates are planned for the future.

While the daily fluctuations of any cryptocurrency can be extreme at times, the long-term expectation is that AUCTION’s value will increase. In fact, some experts predict that the token value may increase by more than $118 by the end of 2032. Because of this, AUCTION may be more suitable as a long-term investment opportunity. Of course, with all that said, it is still imperative for you to do your own research before investing in any cryptocurrency.

Despite Bounce’s relatively short history, it has made a big mark in the cryptocurrency world. In addition to offering a variety of auctioning options and OTC trading, Bounce has other offerings. These include a lottery feature, crowdlending, a talent-finding space and other exciting features. Bounce continues to be innovated, so you can reasonably expect it to grow as a leader in the decentralized space.

Bounce (AUCTION): A Web3 Auction Platform

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