### What is Bounce?

Bounce Finance, symbol AUCTION, is a decentralised auction platform that leverages blockchain technology to offer transparent, efficient, and accessible auctioning, bidding, and purchasing processes for Web3 users. It provides a diverse range of auction services for creating, networking, trading, and collecting digital assets, including both fungible tokens and non-fungible tokens (NFTs).

### How does Bounce work?

Bounce operates on blockchain technology, specifically using Ethereum and Binance Smart Chain, and employs smart contracts for managing auctions and fund distribution. It uses a Proof of Stake (PoS) consensus mechanism, ensuring decentralisation and transparency in its operations. Users can engage in various auction formats like fixed-swap, Dutch, sealed-bid, English, and more, while maintaining control over their assets via a non-custodial setup. Customisable auctions with user-defined parameters are supported, allowing diverse applications such as allocation of proceeds to beneficiaries or integration of auctions on external websites through Auction as a Service (AaaS).

### What are the potential use cases for Bounce?

Bounce can be used for decentralised auctions involving tokens, NFTs, and real-world collectibles. It's applicable in token sales, NFT trading, governance voting on platform decisions, and as a private launchpad service for IDOs and new project launches. Additionally, it offers Auction as a Service (AaaS) for customising auctions on external websites and real-world collectibles service for physical assets auctioning and trading. Potential real-world applications span across NFT marketplaces, token sales, e-commerce, advertising, and financial services sectors.

### What is the history of Bounce?

Founded in 2020 by Chandler Song and Jack Lu, among others, Bounce Finance launched its protocol in July 2020 and joined Binance Smart Chain's seed funding projects in October 2020. It introduced its Bounce V2 version with IDO capabilities in 2021 and further enhanced its platform with Bounce V3 in 2023, adding features such as Auction as a Service (AaaS). Over time, Bounce evolved from a basic auction platform to a comprehensive decentralised protocol recognised through significant partnerships and its presence in the blockchain community.

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