Social verified pool background

Decentralization and user protection

The intention of social verified pools is to solve issues with scam/fake pools on the Bounce platform while maintaining the spirit of decentralization.
On a decentralized platform, It is not possible to prevent users to create fake pools, or even ban any user or pool, since it is not possible to determine the legitimacy of any user or pool.
The solution lies in social interaction to bring more trust and social control to a pool. This mechanism is introduced with Bounce social verified pools to reduce scams, enhance user experience and increase the overall quality of the auctions on the platform.