Exploring BOT’s Utilities

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My Utopian Dream

As many of you know by today, Bounce will eventually be governed in a decentralized fashion. This has been my dream; I assure all of you. I have spent quite some time thinking about how the entire Bounce platform can be a self-sustained ecosystem. Right now, per the latest community update, users can farm/mint/mine (however you like to call it) BOT rewards on a daily basis. As users slowly accumulate more BOT tokens, I would like to continually explore BOT’s use cases.

Boosting BOT’s utilities 🤖

What does it mean for the BOT holders? I have some preliminary proposals for the BOT holders. Here they are:

  • Transaction fee: I plan to implement a transaction fee for the platform users. For example, the Bounce platform will take 0.2% of the total transaction volume and these fees will go directly to a yield pool.
  • BOT Staking: I also plan to implement staking capabilities for BOT holders. They will able to access the rewards in the yield pool on a percentage basis.

Balancing the Equation

A sustainable economy should have balanced supply and demand. In my opinion, BOT should never be a speculative asset. Instead, any people, whether existing holders or newcomers should need BOT to interact with our system. I hope to see more projects holding decentralized online financial auctions on Bounce and they would need to pay to reward the existing community.

Just some preliminary thoughts… Voice your suggestions in the community! Later!

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An experiment. Decentralized Auction. Swap or get bounced.

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