Bounce Brand has launched BounceX, a perpetual futures exchange, allowing users to trade perpetual contracts using the native AUCTION token as collateral.
This move brings new utility to the AUCTION token, enabling traders to open leveraged positions by collateralizing with AUCTION.
By using AUCTION as collateral, traders can maximize profits if the value of the token increases while the position remains open. However, this also comes with risks, especially if the value of the token decreases, which could lead to margin calls or liquidations.
BounceX aims to provide a unique trading experience by integrating the native token into the collateral asset system, thereby enhancing the utility of AUCTION within the Bounce ecosystem.