Bounce V2- Bounce Certified Goes Live
First of all, we would like to express our appreciation to our amazing investors, including Blockchain Capital, Parafi capital, NGC Ventures, Kain from SNX, and Stani from Aave, and more, for providing undivided support for Bounce during the development and preparation of V2.
You can now visit Bounce Certified through https://certified.bounce.finance/.
We are excited to announce the launch of Bounce Certified — a community certified auction platform where the community decides which projects are able to be activated and conduct token sales.
While Bounce Finance offers a decentralized auction environment that enables everyone to create different types of auctions with any tokens, Bounce Certified makes a step up, enabling best-in-class projects to raise capital from verified users.
Apply for Community Certified Auctions
Projects that are interested in raising capital through community certified auctions need to submit an application to the project voting board. The submission includes:
- information about the project
- token details
Submitted information is displayed for community review, and participants can support a project by staking their BOT tokens. Once the project reaches the required level of support, it qualifies for a certified auction, and Bounce governance contacts the team to carry it out.
Certified Auction Execution
After conducting the initial experimental stage of a certified auction, Bounce team helps set up an auction for a qualified project.
The auction is executed through smart contracts. Bounce Certified supports fixed swap, Dutch auction and sealed bid auction. Customized auctions are available based on projects needs.
Further along, Bounce governance will assign ambassadors that holds multisig capabilities to be in charge of executing community certified auctions.
User friendly design
To make it easy for participants to conduct KYC, we build a backend to connect a user’s kyc with his connected wallet so that he does not need to setup an account for verification.
Participating in a Certified Auction
Unlike a decentralized auction, individuals who want to participate in a certified auction need to pass KYC and whitelisting based on each project’s requirement. To purchase tokens of a qualified project, Bounce Certified platform users need to verify their identity and join the white list.
Auctions of qualified projects will be limited to whitelisted users only.
The Role of BOT Tokens on Bounce Certified
Bounce certified auction platform provides new utility for BOT tokens:
- To apply for a certified auction, applicants need to pay the submission fee of 0.3 BOT. The fees will be burnt directly.
2. Certain certified pools will be available to BOT token holders only. To become a verified BOT token holder, you need to hold a minimum of 0.5 BOT tokens.
3. Project voting board is open to BOT token holders only, who have the rights to pass a project.
4. The auction fee for a qualified project is 1.5% of the successfully raised amount. All platform fees will be used for automatically buying back and burning BOT tokens.