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Last updated: Nov 22, 2022
Bounce Finance is a decentralized platform where users can create or participate in auctions to trade and collect various digital assets, including NFTs.
In contrast to decentralized exchanges with a continuous liquidity supply, Bounce aims to make swaps competitive by limiting the supply of assets.
Currently, two versions of Bounce coexist. Bounce V1 can be compared to eBay, where anyone can sell any ERC20 token, while V2 is the Google of decentralized auctions, enabling users to search and filter available auctions.
Bounce V1 offers a range of auction products, such as token sales, liquidity lock auctions, NFT auctions, social verified pools (auctions voted by the Bounce community), lotteries and predictions.
One feature unique to the platform is liquidity lock auction. When an auction finishes, a locked liquidity pool is created on a decentralized exchange (such as Uniswap, SushiSwap, or 1inch) and filled with funds raised during an auction. Then, auctioneers must agree on the terms of the liquidity provision before the auction begins.
Bounce auction types include fixed swap (fixed price), Dutch auction (decreasing price), English auction (increasing price), and sealed-bid (hidden price).
Bounce V2, unlike Bounce V1, offers a limited number of products and has a search bar instead of an open list of auctions. Users can find an auction by the token name, pool ID/name, wallet address or type of the pool. An outstanding feature of the second version is the OTC market, which allows buying and selling ERC20 assets over-the-counter. Both V1 and V2 offer earning opportunities such as staking Bounce native token AUCTION.
Bounce also incorporates an NFT marketplace Fangible powered by Binance Smart Chain, where users can mint, sell, buy, and trade digital items.
The Bounce app can be used in a similar way as swaps are performed on Uniswap, however unlike typical token swaps where platforms provide near infinite liquidity to participants, Bounce focuses on providing a competitive environment, for trading of a limited supply tokens or other digital assets such as NFTs.
Users can participate in token sales, through various types of auctions where a limited amount of tokens are auctioned off with different auction principles and time limits, such as fixed swap auctions, decreasing price (so-called Dutch auctions) or hidden price/sealed-bid auctions.
Bounce wallet support includes MetaMask, BNB Chain wallet, Coinbase Wallet, Ledgeer, Trezor, as well as all wallets integrating WalletConnect, and there are plans for the inclusion of more wallets in the future.
AUCTION is the native utility token of the Bounce ecosystem. Its total supply is capped at 10 million.
The AUCTION token is primarily used for governance voting, where 1 AUCTION equals one vote. Also, pool creators can choose to receive their auction earnings in AUCTION tokens. Moreover, AUCTION token holders have an exclusive right to create more advanced auction types and vote on social verified pools.
Ethereum and Binance Smart Chain versions of Bounce support ERC20 and BEP20 standards of the AUCTION token, respectively. Users can convert between two token standards via Binance.com withdrawal page.
The Bounce team was gathered by Chandler Song and Ryan Fang, the two co-founders of the company. Song is also a co-founder and CEO of a Web3 infrastructure platform, Ankr, and formerly worked at Amazon Web Services as a software engineer. Fang is a co-founder and COO at Ankr and previously worked as an analyst at the investment banking company Credit Suisse. Bounce audits can be found in the protocol dashboard on this webpage.
Bounce formed a strategic partnership with Automata Network to integrate Automata Witness, a governance solution that provides anonymous voting for Bounce community members.
To add more value for NFT auction users, Bounce partnered with an NFT/DeFi protocol DEGO Finance and ROCKI, a blockchain-based music streaming platform where NFTs are used by artists to mark their rights to music. DEGO and ROCKI presented their NFT auctions on Bounce in 2020.
Bounce is planning to work further on V2 development by adding new types of auctions and upgrading the OTC protocol. The team also aims to launch a new product — freelancing platform with orders delivered as NFTs.
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