AUCTIONUSD
Bounce Token / United States dollar
crypto OKX

Bounce token (AUCTION) is an Ethereum based token used to power Bounce.finance's platform - a decentralized auction protocol - and its governance of the protocol. The Bounce web app is available for all Ethereum and Binance Smart Chain based assets. Bounce.finance's decentralized auctions allows users to swap a limited supply of tokens in a competitive environment. There are two overarching types of auctions: token and NFT. For the token auctions, users can choose a fixed swap, sealed bid, dutch, or lottery auction. The fixed swap auction sets an agreed upon price for which the tokens will be swapped after time expires. In the sealed bid auction, users place a (sealed) bid; once time expires the contract fills the highest bids until all the tokens have been sold. The dutch auction, starts at a ceiling price and drops by X per interval until all the tokens run out. Lastly, the lottery auction grants the pool creator the ability to set a principle amount. Once set, users buy lottery tickets and the contract randomly selects a winner who will receive the NFT. NFT auctions have three different options for users to choose from. The first type, NFT Sealed Bid Auction, works the same as the token sealed bid auction. The second is the NFT English Auction where the auction creator sets a reserve price, and solicits bids until the bids stop coming in. The NFT is sold off to the final bidder. Lastly, NFT Lottery Auctions functions the same as a Token Lottery Auction. [ https://docs.bounce.finance/ (https://www.bsc.news/post/bounce-finance-project-review-nft-auctions)https://www.bsc.news/post/bounce-finance-project-review-nft-auctions