Bounce Newsletter 8/26
Welcome to Bounce Weekly Newsletter!
This is where you’ll find your weekly dose of all news from the crypto market and beyond. From the freshest updates from Bounce Finance, to exciting project highlights and some of the most compelling auction news from around the world, we’ve got you covered. We’re here to keep you informed and engaged, transforming our newsletter into your one-stop-shop for updates. So sit back, grab your favorite drink, and join us as we dive into this week’s hot topics.
From Bounce Finance: Grand Debut of The Diamond Hand Necklace Auction, Mutant English Auction With $AUCTION Coming Soon
August 25th, 2PM UTC marked the thrilling commencement of the long-anticipated Diamond Hand Necklace Auction on Bounce. This auction serves as the grand debut of Bounce Finance’s latest innovation, Mutant English Auction. The starting bid price is set at 5 $ETH, with each subsequent bid required to exceed the preceding bid by 3% — the second bid is 5.15 $ETH, the third bid is 5.3045 $ETH, and so on. After each bid is placed, a 24-hour countdown begins for the next higher bid.
A distinctive feature of this auction lies in its reward structure. Every bidder, except the final winner, reaps rewards from the 3% price increase when the next higher bid is placed. The heart-pounding competition ends when no higher bid emerges within a 24-hour window from the latest bid, declaring the last bidder the final winner of the auction. The final winner receives the Diamond Hand necklace and two NFTs, one embedded in the necklace using a Near-Field Communication chip and a second commemorative NFT designed by a Sotheby’s featured surrealist artist called 1dontknows.
A mere two hours after the Diamond Hand Necklace Auction started, bids have already soared to over 10 $ETH, doubling the starting price, with approximately 0.16 $ETH rewarding the preceding bidder. As of August 26th, the current highest bid price is 22.5771 $ETH, enticing its bidder with a reward of 0.360317 $ETH when the next higher bid emerges. . The next bid target price is 23.2544 $ETH, promising a 0.371127 $ETH incentive
The Diamond Hand Necklace Auction has more than aesthetics in its sights. It’s also a stepping stone to introduce Bounce Mutant English Auction to a diverse audience. The choice of $ETH as the bidding currency aligns with convenience, opening the stage to a wider participation. Drawing wisdom from the community’s feedback, Bounce Finance is gearing up to launch a wave of auctions in the format of Mutant English Auction format allowing participants to bid with $AUCTION tokens. These upcoming auctions are poised to infuse the $AUCTION community with the thrill of Bid-to-Earn dynamics, while expanding the $AUCTION token’s utility.
Meanwhile, the dedicated Bounce team is tirelessly developing the three major updates previously announced. These encompass pre-auction activities tailored for curating whitelists, a toolkit designed to enhance token sales, and a Telegram bot primed to facilitate financial activities. Stay tuned as updates on these game-changing developments unfold. The Diamond Hand Necklace Auction isn’t just a spectacle; it’s a window into the future of auctions, innovation, and limitless possibilities.
Coinbase’s Decentralization Strategy for Base Network
Coinbase has unveiled its plan to transition the Base network into a fully decentralized model. This move is aimed at ensuring no single entity possesses control over the network. The company intends to achieve this by implementing fault proofs and promoting diversity in client software to safeguard the network from censorship. Working in collaboration with Optimism Collective and OP Labs, Coinbase is actively involved in the transition of Base, a part of Optimism’s OP Stack, towards complete decentralization. However, specific timelines for this transition have not been provided yet. The integration of fault proofs is a notable step in this direction, with Coinbase showing keen interest in these technical updates to enhance decentralization. Coinbase protocols lead, Jesse Pollak, emphasized the significance of OP Labs’ progress in achieving decentralization goals and the company’s dedication to adopting improvements as soon as they are ready.
Coinbase’s involvement extends to the broader infrastructure as well, including contributions to OP Stack and the creation of OP chains like Base. The company aims to ensure fault-proof diversity and minimize network failure risks. In addition, the Base team plans to contribute to the formation of a “security council” for the Superchain. This collaborative effort seeks to enhance the security and decentralization of Base, OP Mainnet, and associated chains. Coinbase’s proactive approach towards decentralization reflects the company’s commitment to fostering a more resilient and censorship-resistant blockchain ecosystem.
EigenWorlds: Expanding NFT Engagement in EigenLayer Ecosystem
EigenWorlds represents EigenLayer’s second NFT collection, offering an open edition for community members to mint personalized names and visual emblems within the EigenLayer ecosystem. This initiative aims to enhance engagement and inclusivity in the platform’s NFT ecosystem. The minting process is open until August 30th, providing users with an opportunity to participate in this unique creation. EigenWorlds contributes to the growth of the EigenLayer community, enabling individuals to express themselves creatively through NFTs. By allowing users to mint their own names and visual emblems, EigenLayer demonstrates its commitment to empowering its community members and facilitating their active participation in the evolving NFT landscape.
Supporting Maui Wildfire Recovery Through NFTs
Ashira Fox, an artist known for her digitized still images (scanographs), is contributing to the efforts to aid Maui’s recovery from devastating wildfires. Fox initiated a 48-hour NFT open edition on Rarible, featuring a scanograph of a white plumeria flower, common in Maui. All proceeds from this NFT sale are directed towards the Maui fund established by the Giving Block, a crypto donation firm. This collaboration highlights the role of NFTs in supporting charitable causes and disaster relief efforts. The NFTs are priced at 0.009 ETH ($15), and the proceeds will contribute to the Maui fund’s efforts to help those affected by the wildfires. The generosity of artists and crypto enthusiasts in leveraging NFTs for philanthropic purposes demonstrates the potential of blockchain technology to make a positive impact on real-world challenges.
Shopify Integrates Solana Pay for Web3 Commerce
Shopify’s integration with Solana Pay signifies a significant step towards enabling Web3 commerce features for enterprises on the e-commerce platform. Through this integration, entrepreneurs and merchants gain access to no-fee, Web3-native payments, enhancing their transaction capabilities. Shopify payments serve as a gateway to a Web3 commerce experience, facilitating cross-border transactions, token-based incentives, and NFT loyalty schemes. The initial payment gateway for this integration is USD Coin, a stablecoin with a market cap of $25.9 billion, catering to merchants inclined towards payment options closely aligned with the US dollar. Solana Pay’s integration with Shopify empowers businesses to tap into the benefits of blockchain technology and offer enhanced payment solutions to their customers, furthering the adoption of Web3 commerce.
Celebrating Wallace Chan’s Artistry Through Jewelry Exhibition
Christie’s presents “Wallace Chan: The Wheel of Time,” a grand exhibition featuring over 150 unique jewelry creations by master jewelry artist and sculptor Wallace Chan. The exhibition showcases Chan’s remarkable innovations and highlights significant moments from his 50-year career. Born in China in 1956, Chan’s artistic journey fuses traditional techniques with innovative technologies, redefining contemporary jewelry. His unparalleled use of materials, including titanium, has earned him global recognition. The exhibition’s title, “The Wheel of Time,” symbolizes Chan’s meticulous and time-intensive approach to creating intricate pieces. Chan’s artistry reflects Chinese aesthetics and the intrinsic qualities of materials, making his work a unique blend of tradition and innovation. Christie’s commitment to supporting artists and showcasing their evolution resonates with Wallace Chan’s legacy, which is celebrated through this extraordinary exhibition.
Reflecting on the Future: “Embrace change, and the world transforms with you.” — Wallace Chan
“Progress is impossible without change, and those who cannot change their minds cannot change anything.” — George Bernard Shaw
In the ever-evolving landscape of technology and innovation, the power of change is undeniable. As we delve into the realms of blockchain, NFTs, and decentralized networks, we witness the transformational potential of embracing change. From Coinbase’s steps towards decentralization to EigenWorlds’ open NFT collaboration, from the philanthropic impact of NFTs on disaster recovery to Shopify’s integration with Solana Pay, the stories of change-makers echo loudly.
Just as Wallace Chan reshaped jewelry artistry by marrying tradition with modernity, the blockchain ecosystem reshapes industries and possibilities. These stories of collective action remind us that change is not only inevitable but also a driving force for progress. Our ability to adapt and evolve fuels the very innovation that propels us forward.
So, let’s heed the wisdom of George Bernard Shaw and recognize that change isn’t just a choice — it’s a necessity for growth. Through the interplay of innovation and collaboration, we stand at the precipice of a new era, one where we actively shape the future we envision. Embrace change, for it is the conduit through which we transform not only our technologies but also our world.
About Bounce Finance
Bounce Finance is a decentralized platform dedicated to meeting the evolving needs of the Web3 space. Established in 2020, Bounce Finance is proudly known for outstanding user experience and seamless integration of blockchain technology in trading both digital and tangible assets. We provide a decentralized auction protocol that empowers users to create and participate in diverse types of auctions on multiple blockchain networks. With a focus on Auction as a Service, Bounce Finance offers a wide range of products, including Token & NFT Auctions, Real-World Collectible Auctions, Ad Space Auction, and SDKs & Plug-Ins. Bounce Finance also provides Private Launchpad services, an on-chain solution designed to streamline IDOs for new projects.
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