AUCTION token economics
Bounce Finance has a native platform token called AUCTION. The platform token facilitates platform operation, utility capture and value realization. The AUCTION token has no monetary value. The AUCTION token incorporates economic and game theoretical designs to boost platform utility.
Each AUCTION token represents one vote in the decision making process of the Bounce platform governance. The more AUCTION tokens held in their wallet, the higher voting power and influence they can make on proposals.
The AUCTION token can be used as a currency for pool creators, who can choose to receive their auction proceeds in AUCTION tokens.
Creating more advanced auction types is only available for AUCTION token holders. In addition, exclusive pools with beneficial token prices are only available to AUCTION token holders.
To reduce fake/scam pools, AUCTION token holders can take the responsibility to create social verified pools. Users need to stake AUCTION tokens to support and vet social verified pools.