Naming and Data Availability (DA) protocol for Bitcoin TNA announced its intention to launch an Initial DEX Offering (IDO) on the Bounce Launchpad for its native token, BN. An IDO is a fundraising approach that allows blockchain projects to distribute their native coins or tokens via a decentralized exchange (DEX).
BN, or Bitcoin Names, is the governance token for the protocol, essential for decentralized management and governance of the ecosystem. It allows community members to take part in decision-making processes, such as protocol upgrades and feature improvements. The token also supports numerous activities within the Bitcoin network, including boosting liquidity and facilitating compatibility with various Layer 2 solutions, thereby enhancing engagement with the ecosystem. The total supply of the token is 2.1 billion.
Participants will have access to three pools, including the AUCTION staking pool, the fixed-price public pool, and the fixed-price whitelist pool. To participate, they will need AUCTION, an Ethereum-based token used on the Bounce Finance platform. Details regarding the timing and additional information about the IDO will be provided in a future announcement.
TNA @TNA_Protocol will launch their $BN IDO on Bounce Launchpad.
3 pools will be offered & you’ll need $AUCTION to participate:
-AUCTION Staking Pool
-Fixed-Price Public Pool
-Fixed-Price Whitelist Pool
Stay tuned for the time & more details. pic.twitter.com/PaaLM6wJSz
— Bounce Brand (@bounce_finance) August 12, 2024
How Bounce Launchpad Functions?
The Bounce Finance Launchpad features several auction types, including fixed-price auctions, English and Dutch auctions, sealed-bid auctions, random selection, playable auctions, order book auctions, and hold-to-compete auctions. The Bounce Certified enables community members to actively engage in evaluating and selecting new projects.
As a fully decentralized platform, Bounce uses a non-custodial model, which provides users with full control over their assets. Auction processes and fund distributions are managed by smart contracts, ensuring a fair and secure operation.
Recently, Bounce collaborated with Euclid Finance to facilitate the launch of the ECL token on the Bounce Launchpad. This partnership allowed participants to receive MIRRORECL, a mirror token for ECL, and engage in the vesting process through Euclid Finance’s official website, where they were able to claim the actual ECL tokens.
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