How Do We Protect Ourselves in Decentralized Territories?

Image for post
Image for post

First of all, I want to express my gratitude for the early support from the community. We are just two weeks in, and here are the stats of Bounce:

  1. Over 150,000 ETH swapped
  2. Over 60,000 swap transactions
  3. 1180 Bounce pools created

I want to make one thing very clear. I will never shill any auctions. My jobs are to retweet/repost and share as much information as possible to the community. There are no “official” auctions endorsed by Bounce. Bounce is permissionless. DYOR.

How do we protect ourselves?

I sincerely did what I could to help our community avoid scams. There are many ways to identify the correct token address. I will reiterate. Make sure you check:

  1. Pool ID (always unique)
  2. Pool Name (unique during the pool duration)
  3. Token Contract Address (always unique)
  4. Swap ratio (specified by the auction owner)

I am all ears to new ideas as to how else we can help the community identify the correct auction. I am leaning towards moving the list of auctions to another tab and just have the “search” function. Yes, there will be one extra step, but this will help all of us double-check the 4 pieces of info specified above.

Also, I am looking to get some help in translating the tutorials into different languages. If you are interested, please let me know.

Aligning our visions

Recently I heard some comparisons of Bounce with Uniswap, for which I currently have no comments. Bounce is solving problems for auctions and OTC markets in DeFi.

Let’s make Bounce better day by day. We are not in a rush, as we are here for the long shot. Peace!

Written by

An experiment. Decentralized Auction. Swap or get bounced.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store