Introducing Bounce Finance’s Fixed-Price Auction: A Comprehensive Guide

Bounce Brand
3 min readJun 28, 2023

--

As a leading provider of Auction as a Service, Bounce Finance prides itself on offering a wide range of auction formats tailored to meet diverse needs. One such format is the Fixed-Price Auction, also known as a fixed-swap auction. This auction type provides participants with a seamless and transparent approach to acquiring assets at pre-determined prices. In this article, we will delve into the features and benefits of Bounce Finance’s Fixed-Price Auction, highlighting its unique advantages and demonstrating why it is a preferred choice for efficient asset acquisition.

What is a Fixed-Price Auction

A fixed-price auction, also known as a fixed-swap auction, is a type of auction where the price for the assets being auctioned is predetermined and agreed upon by the auctioneer and participants. It operates on a first-come, first-serve basis, with the first person to place the bid winning the auction. The assets are automatically swapped at the agreed-upon time, providing a time-contingent and efficient execution of trades.

Price Certainty and Targeted Auctions

Fixed-Price Auctions are particularly beneficial when the auctioneer has a specific price target in mind for the assets being sold. By setting a fixed price, the auctioneer can communicate their desired value clearly to participants, facilitating a transparent and targeted auction process. This level of price certainty is advantageous for both auctioneers and participants, enabling confident decision-making and fostering trust in the auction ecosystem.

Efficiency and Simplicity: First Come, First Serve

The Fixed-Price Auction operates on a first-come, first-serve basis, giving participants an equal opportunity to secure the desired assets. As soon as the auction begins, participants can swiftly place their bids, aiming to be the first to meet the pre-determined price. This streamlined approach eliminates complex bidding processes, ensuring a seamless auction experience for all involved.

Time-Contingent Execution: Swap Assets Automatically

One of the defining characteristics of the Fixed-Price Auction is its time-contingent nature. When participating in this auction, participants agree upon a specific time for the asset swap. At the conclusion of the auction, the assets are automatically swapped among the participants based on the pre-determined price. This feature ensures the efficient execution of trades, reducing manual intervention and enhancing the overall user experience.

How-To Guides

Step-by-step guides and video tutorials are available for both PC and mobile devices:

About Bounce Finance

Bounce Finance is a decentralized auction protocol that empowers users to create and participate in diverse types of auctions across multiple blockchain networks. With a strong focus on Auction as a Service, Bounce Finance offers a seamless, transparent, and secure auction experience with a wide range of products, including Token & NFT Auctions, Real-World Collectible Auctions, Ad Space Auction, and SDKs & Plug-Ins. Recently, Bounce Finance has also introduced Private Launchpad services, an on-chain solution designed to streamline IDOs for new projects. Leveraging the transparency and efficiency of on-chain auctions, Bounce Finance is committed to providing comprehensive support and state-of-the-art services to promising projects, facilitating their growth and success.

Keep up to date on all the latest from Bounce Finance👇

Website | App | Docs | Telegram | Twitter | Medium | YouTube | Discord | Zealy | LinkeIn

--

--

Bounce Brand

An experiment. Decentralized Auction. Swap or get bounced.