What is Bounce Governance Token (AUCTION)?
Bounce Governance Token (AUCTION), as the name suggests, is the native governance token of the Bounce Finance protocol. Take a look at the Bounce Governance Token price chart above to see the current AUCTION price.
Bounce Finance combines liquidity mining, decentralized governance, and staking mechanisms into a decentralized auction platform. It aims to provide a competitive environment for NFTs, tokens, and other crypto assets to be auctioned in various ways.
For token sales, limited amounts of tokens are auctioned using different auction principles, which include fixed price, decreasing price, or hidden price. NFT auctions are also carried out under the same principles as token auctions.
For easy integration, the platform supports common crypto wallets such as MetaMask, Ledger, and others. It also supports assets based on Ethereum and BSC.
The project has various features available for the community, including:
- Bounce Finance – an auction platform where digital asset sales are carried out;
- Fangible – an NFT marketplace;
- Freelancer DAO – a freelancer job platform;
- Bounce DAO Toolbox – a toolset for personalized auction creation.
Besides, Bounce Finance also has a search engine designed to help users find tokens and NFTs available for auction. In addition to that, it has a trading platform that enables users to carry out trading activities of any ERC-20-based tokens without restrictions or slippage.
Use Cases of AUCTION Tokens
AUCTION tokens have various use cases on the Bounce Finance platform.
Primarily, AUCTION is used as a governance token, meaning that holders of Bounce Governance coins have a voting power that is determined by the number of tokens they hold. One AUCTION token is equivalent to one vote during the proposal and decision-making processes.
Secondly, AUCTION crypto holders can stake their tokens for rewards. Staking helps in creating socially verified pools. These pools are important in identifying and eliminating fake or scam pools.
Furthermore, the AUCTION token is the only approved means of exchange on the platform. Proceeds from auction sales are paid to creators in AUCTION tokens.
Finally, AUCTION holders get access to exclusive auctions and pools.
Don't forget to check the current or the previous Bounce Governance Token price if you plan to purchase AUCTION tokens. You can find this information on the AUCTION price chart above.
Who Founded Bounce Finance?
The project was founded by Jack Lu. Jack graduated from Reed College with a bachelor's degree in economics. He worked at NGC ventures, an investment team, before starting Bounce Finance in 2020. The core team is also made-up of Kain Warwick, Calvin Liu, Stani Kulechore (founder of Aave), and George Lambert. Together, they serve as a management team for the project.
The AUCTION token economy is designed to grow and evolve with the Bounce platform. Initially, AUCTION tokens have been designed to be inflationary. This has been done to attract new users and reward existing ones generously. However, as the platform matures, the economic model of the token will become deflationary to ensure the value preservation of the AUCTION price and the ecosystem. The maximum supply of AUCTION tokens is 10 million.