About

Bounce Finance is a decentralized auction protocol and platform, that utilizes its native token, called AUCTION. The platform enables users to conduct auctions for a limited supply of tokens, including both Ethereum and Binance Smart Chain assets.

History

Bounce.finance was founded in 2020 by Jack Lu and Chandler Song. Bounce.finance is a decentralized auction platform which utilizes the idea of "swapping" - a way for users to exchange tokens - but in a competitive environment, for a limited supply of tokens. Bounce took the popular swapping concept but created a protocol that relaxes its limitations. On swapping platforms, most notably Uniswap, an infinite amount of liquidity is provided for all participants. This process is considered to reduce competition. Therefore, Bounce's approach is to allow creators to launch their very own token and non-fungible tokens (NFTs) in a fair competitive swap environment. In August 2020, Bounce introduced two types of auction pools, fixed and dynamic ratio swapping. Shortly after, it successfully completed its first experimental BOT (token name at the time) sale with a fixed swap auction.

Since its inception Bounce has made a number of improvements to its platform. The most notable ones include:

• Bounce Governance V1: 1) Staking for governance 2) On-chain proposals 3) Governance vault 4) Social Trust
• No-loss lottery and NFT lottery
• BOT token migration: Migration from BOT to AUCTION allows users to participate in both the decentralized and certified auctions

On March 15, 2021, Bounce officially announced it raised a new funding round from notable investors such as Pantera, Coinbase Ventures, Blockchain Capital, DHVC, etc. This funding will be used to expand its NFT branch along with upgrading its three other branches which include Bounce Decentralized, Bounce Certified, and Bounce Polkadot. Speaking of, on April 30, 2021 Bounce announced it's becoming the first decentralized marketplace to host Polkadot and Kusama Parachain slot auction crowdloans. By doing so, parachains ("parallel blockchains") and its teams can issue competitive, fair token sales and benefit from its governance, security, and interoperability to build a variety of applications and use cases. As of now, Bounce is set to become the home for decentralized Kusama and Polkadot crowdloans. Using its funding in a quality manner will be important for Bounce to fulfill its mission in becoming an all-inclusive auction protocol for the web3.0 industry.