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About Bounce Finance
Bounce development ideology
At Bounce Finance we strive to promote innovation, sustainability and continuity in everything we do. When it comes to development, we constantly keep a pulse on the ever changing demands of the greater web3 and blockchain markets around auction, exploring the potential for novel product offerings along the way. In order to build a truly sustainable platform, and the brand that goes along with one, we feel that building products which suit the evolving market is a must. Today, we find ourselves in a radically different crypto landscape compared to when Bounce was initially founded,as reflected by the changing needs of users at all levels: from individuals to institutions.
As it stands today, Bounce Finance has built four distinct pillars of product offerings, each meeting the different demands of companies across the industry. In the early days of defi, many projects sought to build tools and features that would facilitate broader industry development. These products and applications were often original and innovative at first but were ultimately forked and repeated in a way that fragmented and diluted their initial value adds. Today’s application layer landscape is fragmented and often full of dapps that do not provide comprehensive user experiences. We see this as a major opportunity for Bounce, especially considering that as most industries mature there tends to be a mass period of “resource reallocation” and a broader integration of platforms. It is during this time when the “super-applications” and platforms that drive future market cycles are built. With our full suite of web3 products, each consolidated under Bounce and fully integrated with one another, Bounce is in a unique position to be a truly complete defi platform solution for all of web3’s users across a variety of different chains.
The problem we identified
The birth and subsequent evolution of decentralized finance has been a fascinating innovation to watch unfold. Products like automated market makers, decentralized auctions and on-chain lending & borrowing have brought about an entirely new way to go about traditional finance. However, almost all of these functions are merely “tool-based” applications, meaning the market is fragmented with repetitive, single function products. This makes establishing & keeping track of reliable, on-chain reputations for projects and individuals an extremely challenging task.The DeFi auction space has been criticized for being short-sighted and unsustainable, as the auction tools around tokens have led to a variety of pump and dump events.
Users today are still unable to truly understand the character of the “trustless” tokens, companies and users they interact with across the fragmented networks of tools. This gap in information has been quite costly for users and the industry as a whole, leading to malicious attacks and destructive on-chain interactions. Instead, we propose that these products be housed together within one ecosystem, providing not only a safer defi environment but also a better experience for users.
We also realize that a “complete’’ defi experience is quite difficult to provide; bringing the utility of crypto to web2 and tradfi users has been an incredible challenge for the industry as a whole, despite the enormous potential benefits cryptography can provide for society. Users are very reluctant to get started in crypto given the constant headlines of hacks, stolen funds and various other exploits, not to mention the generally fragmented and confusing user experience. Ultimately, these issues have made joining the space as an outsider a difficult proposition, stifling both industry adoption, user acquisition and the promise of web3.
Decentralized on-chain auction tools have successfully facilitated token sales, but they have not been widely adopted in traditional economies, such as real-world asset auctions. While DeFi innovation is a significant development, the failure to enter traditional spaces could limit its potential.
A new era for Bounce Finance
Bounce V3 will usher in a new era for Bounce Finance as an Auction-as-a-Service (AAAS) platform. The platform offers on-chain auction tools that can be utilized by both Web3-native and traditional spaces, while maintaining a traditional user experience.
Product offering divisions:
- 1.Token & NFT Auction: Bounce offers 10 different types of auctions on over 40 blockchains in a permissionless environment, allowing anyone to create and participate in a diverse range of auctions.
- 2.Real-world Collectibles Auction: Tangible collectibles can be minted into NFTs and then auctioned on blockchain through Bounce, bridging the gap between physical and digital assets.
- 3.Ad Space Auction: Bounce introduces an innovative marketplace for advertisers and publishers to buy and sell ad space through decentralized auctions.
Bounce V3 infrastructure:
Bounce V3 uses a hybrid infrastructure that incorporates a centralized account management system and a decentralized application and tool access system. Users will be able to login and sign up for the platform without a web3 wallet using traditional methods of doing so (by email, phone number etc). Decentralized access is only needed when users decide to utilize the defi components of the platform. We strongly believe that a hybrid infrastructure brings the benefits of traditional infrastructure and blockchain together, ultimately maximizing users adoption and usage.
Going forward, we will continue to update our community with the latests development progress and launch updates regarding V3 & the Bounce ecosystem of products.