Game On: Introducing Bounce Finance’s Innovative Playable Auctions
Bounce Finance is proud to announce the launch of an innovative type of on-chain auction: the Playable Auction. This new feature is now available on Bounce V3, our latest app update. The Playable Auction concept takes the traditional bidding process and adds an element of gamified engagement, making the auction experience more interactive and enjoyable for participants.
What is a Playable Auction and how does it work?
In a Playable Auction, your allocation isn’t determined by how much you bid, but by your performance in a specific game. There are two stages in our Playable Auction: game competition and token auction. The auctioneer or the host chooses a game for the auction and sets several parameters including: the total number of winners in the game, the duration of the auction, the accepted currency and the swap ratio of the token for sale.
Once the Playable Auction begins, participants play the chosen game, with their performance directly affecting their chances of securing an allocation. The players with the highest game scores at the end of the game competition stage are deemed the winners and they’ll secure their allocation in the next stage. It’s an exciting way to engage with the platform and provides a level of transparency and fairness to all participants.
Bounce Finance’s Playable Auction presents an engaging and enjoyable method for projects conducting Initial DEX Offerings (IDOs). The IDO process can start with a game where participants compete for their whitelist allocations through their gaming preference. The project offering IDO predetermines the duration of the auction and the number of winners — for example, top 50 scoring players. Then the top 50 players will be eligible to participate in the next IDO stage where they can purchase the project’s tokens with the accepted currency at the swap ratio determined by the project.
Regarding the game for our Playable Auctions, we currently offer a game called ‘Ghostie Runner’, provided by Test Jar Labs. This is a simple yet engaging game where participants press the space bar to make their character jump and avoid obstacles. The longer your character manages to run without hitting any obstacles, the higher your score. Participants can attempt the game as many times as they wish, with their highest score being considered for the final ranking.
A step-by-step guide
Here’s a step-by-step guide for how to participate in a playable auction on Bounce V3. A tutorial video is also available on YouTube.
- Connect your wallet.
2. A small window would pop up and request your on-chain signature.
3. Then you can start playing the game.
4. You can view your score and rank on the leaderboard below the game.
5. At the end of the game competition, if you rank high enough based on the auctioneer’s rules, you’ll receive a whitelist spot and proceed to the next stage to purchase your desired tokens.
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