Bounce Finance Launches New Decentralized Auction Mode "Mutant English Auction"

Odaily Planet Daily News The decentralized auction platform Bounce Finance has launched a unique decentralized auction model called "Mutant English Auction". This auction mode combines classic English auction elements with DeFi, aiming to provide participants with more opportunities and benefits, and increase the participation rate. In the improved auction method, both the auctioneer and the previous bidder benefit from higher bids, rather than just the winner as in standard auctions, which encourages more people to participate. In this model, the highest bidder does not always pay the final price. The sharing mechanism can lead to higher real prices, potentially increasing auctioneer revenue. Therefore, both bidders and auctioneers have an incentive to participate. Bounce will pilot the Mutant English Auction later this month, combining an actual diamond necklace with an NFT for a physical-to-digital auction. (Blockworks) In previous news, Bounce Finance announced the development roadmap for Q3 and Q4 in 2023. Bounce Finance and FOUNDO, a native luxury brand of Web3, will launch the first "Diamond Hand" (Diamond Hand) necklace auction in August. Bounce Finance will launch a new auction mechanism in the third quarter, allowing participants to generate income during the auction process. Bounce Finance will launch a physical collection market. Projects can create brand stores on the Bounce platform and sell physical collections, including clothing, accessories, luxury goods, etc. In addition, Bounce Finance will upgrade its auction-as-a-service (AaaS) protocol to provide projects with one-stop token issuance services.