Decentralized auction platform Bounce Finance unveiled details about the upcoming Initial DEX Offering (IDO) on its Launchpad. This IDO will feature the BN token of TNA, which is a naming and Data Availability (DA) protocol for Bitcoin.
As outlined in the announcement, the IDO is scheduled to start at 10 AM UTC on August 19th and will run until 10 AM UTC on August 21st. A total of 4,200,000 BN tokens have been allocated for participation in this launchpad event.
The first pool involves AUCTION token staking, with a total value of $12,500, and offers a supply of 1,050,000 BN tokens. The second pool is a fixed-price public sale, where each BN token is priced at $0.011905, and it has an allocation of 2,730,000 BN tokens. The third pool is a fixed-price whitelist sale, also pricing each BN token at $0.011905, with an allocation of 420,000 BN tokens. For the second and third pools, the swap currency used is the AUCTION token.
At 11 AM UTC on August 21st, 10% of the BN token supply will be unlocked. Following this, an additional 7.5% of the tokens will be released gradually each month over the course of 12 months.
AUCTION is a token built on Ethereum and utilized within the Bounce Finance platform. Holders of this token are empowered to create and engage in various advanced auction formats, gain access to exclusive pools, and participate in governance decisions through voting rights.
$BN IDO Details @TNA_Protocol 
: August 19, 10AM UTC ~ August 21, 10AM UTC
: https://t.co/umZgbtsY0I
Total IDO Supply: 4200000 $BN
Pool 1: $AUCTION Staking
Blockchain: Ethereum
Pool Supply: 1050000 $BN
Total Raise: $12500
Pool 2: Fixed-Price Public
Blockchain: Ethereum… pic.twitter.com/4UKqtZQxwD
— Bounce Brand (@bounce_finance) August 16, 2024
TNA Protocol: What Is It?
It represents a protocol created for issuing and managing Tapnames, a unique type of non-fungible asset that leverages the Taproot Assets Protocol, making it easy to integrate with the Lightning Network. While Tapnames share similarities with ENS names, they are distinct as native Bitcoin assets built on TAP.
TNA is focused on improving the usability of the Bitcoin network by democratizing the process of asset issuance and management. This protocol aims to promote wider adoption and create a more user-friendly experience within the Bitcoin ecosystem.
BN, short for Bitcoin Names, serves as the governance token for the protocol, playing a crucial role in the decentralized management and decision-making within the ecosystem. The total supply of BN tokens is capped at 2.1 billion.
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