By Daniel Li, CoinVoice

In today's cryptocurrency field, the Ordinals ecosystem project is becoming a focus of attention. Its wealth effect has gradually formed a consensus, attracting more and more investors and developers to focus on the Bitcoin Ordinals ecosystem. In addition to the highly anticipated new protocols, the focus of public attention has also begun to shift to the IDO platform that incubates and participates in the early development of these projects.

Recently, as the most popular IDO platform in the Bitcoin ecosystem, Bounce Finance (hereinafter referred to as Bounce) successfully launched two projects: MultiBit (MUBI) and BitStable (BSSB), and these two projects have achieved significant success. The BSSB token once rose more than 45 times, while MUBI increased by 1140% after the opening. At the same time, Bounce’s own token Auction, which participated in the IDO of these two projects, also received a daily increase of more than 50%.

Bounce tweeted that it is fully committed to nurturing the BTC ecosystem and will focus on incubating and auctioning BTC ecosystem projects in the future. As Bitcoin inscriptions continue to heat up, Bounce's popularity is also increasing. In the future, it is expected that more new projects will complete IDOs through Bounce, and Bounce will also play a vital role in shaping the future of the Bitcoin ecosystem.

Bounce Finance: An IDO platform riding the wave

Bounce is a decentralized auction protocol for token swaps. The protocol was launched in July 2020 and was created by Chandler Song, the founder of Ankr. Bounce's investors include institutions such as ParaFi Capital and Blockchain Capital, as well as industry figures such as Kain Warwick, the founder of Synthetix, and Stani Kulechov, the founder of Aave. In October 2020, Bounce was selected as the second batch of seed funding projects for Binance Smart Chain, so Bounce is also considered a sub-project of Binance.

Currently, Binance lags behind OKX in terms of Web3 wallets and Bitcoin ecology, resulting in the traffic being taken up by OKX in recent market conditions. As the world's largest centralized exchange, Binance is obviously not satisfied with this situation. Therefore, from Ankr to Bounce, and to the recent rise of BSSB and MUBI, Binance's strategic layout in the field of Bitcoin ecology is demonstrated. Bounce is Binance's new listing platform on the Bitcoin ecological chain, while MUBI is a cross-chain bridge connecting the Bitcoin ecology, and BSSB plays the role of MakerDAO in the Bitcoin ecology. Bounce's recent popularity also highlights Binance's ambitions in the field of Bitcoin ecology. For Bounce, this is also a huge development opportunity.

Bounce's auction mechanism combines liquidity mining, decentralized governance, and staking mechanisms. Bounce aims to increase the speed and efficiency of auctions in the DeFi ecosystem, allowing users to build, design, collect, and trade various assets, tokens, and NFTs on different chains. Bounce's first principle is the scarcity of resources, which creates a competitive exchange environment. Bounce provides a fair competitive environment for tokens with limited supply or other assets such as NFTs.

The evolution of Bounce

Founding and early development stage (2020):

Bounce was founded in 2020 by a group of cryptocurrency and blockchain technology enthusiasts. Their goal is to build a decentralized auction platform that enables users to buy and sell digital assets in a fair and transparent manner. In this early stage, the team focuses on product development and community building.

Bounce V1 (2020): In 2020, Bounce launched its first official version, Bounce V1. This version introduced a blockchain-based auction feature, where users can bid on cryptocurrencies and digital assets by participating in auctions. This version has attracted the attention of the cryptocurrency community and gained a certain user base.

Bounce V2 and IDO (2021):

With the success of Bounce V1, Bounce launched its second version, Bounce V2, in 2021. This version introduces the Initial Decentralized Offering (IDO) feature, allowing project teams to conduct token issuance and crowdfunding activities on the Bounce platform. This feature provides a fair financing opportunity for emerging projects and allows investors to participate in projects at an earlier stage.

Bounce V3 version and innovative features (2023): In February 2023, Bounce V3 was officially launched, which significantly reformed the original auction method, introduced Auction as a Service (AaaS), and added an innovative regret function to the fixed swap auction, allowing participants to withdraw their bids at any time during the auction. In addition, Bounce also plans to launch a new auction mechanism that allows participants to generate income during the auction process, as well as launch a physical collectibles market, allowing projects to create their own brand stores on the Bounce platform to sell physical collectibles, including clothing, accessories, luxury goods, etc. Bounce focuses on providing incubation and auction support for BTC ecological projects (November 2023) In the fourth quarter of 2023, with the popularity of Bitcoin inscriptions, more and more new projects are preparing to start IDOs, and MultiBit (MUBI) and BitStable (BSSB) have successfully IDOed on Bounce. It also aroused the market's strong interest in Bounce, an IDO platform based on the auction protocol. The Bounce token AUCTION has risen by more than 115% in the past week. At the same time, Bounce’s official Twitter account also stated that in the future the platform will focus on providing incubation and auction support for BTC ecosystem projects.

Bounce’s auction mechanisms include the following:

Fixed Price Auction: A fixed price auction is a type of auction where the price of the auctioned asset is predetermined and agreed upon by the auctioneer and the participants. This type of auction is often used when the auctioneer has a specific value target for the asset being sold.

English Auction: In an English auction, the auctioneer starts with a low price and then gradually raises the price until the bidder is willing to pay the highest amount. The auction usually has a set end time, when the person with the highest bid wins the auction.

Dutch Auction: A Dutch auction (also called a descending price auction) is a type of auction where the auctioneer starts with a very high price and gradually lowers the price until someone bids. The first bid wins the auction (assuming the price is above the reserve price), avoiding any bidding wars.

Sealed Bids: Bounce offers sealed bid auctions on the blockchain, which have some differences from traditional sealed bid auctions. The final results of a sealed bid auction are revealed when the pool time runs out. The smart contract automatically fills the bid order from the highest bid percentage all the way down until all tokens in the pool are sold.

Random Selection Auction: A bouncing random selection auction is an auction mechanism where instead of the highest bid winning the auction, the winning bid is determined randomly, like a lottery. It is also known as a "lottery auction". This type of auction is often used when the item being sold is very popular and there are many bidders willing to pay a high price for it.

On-chain order book auction: An on-chain order book auction is an auction conducted on a blockchain platform where buyers and sellers place orders to buy or sell a specific asset, and these orders are matched based on specific criteria.

Bounce Finance: The incubation engine of the Bitcoin ecosystem

Bounce is the incubation engine of the Bitcoin ecosystem and plays a key role in supporting the incubation and auction of Bitcoin ecosystem projects. As an IDO platform based on the auction protocol, Bounce provides a safe, transparent and fair competition environment for project teams to promote the early development of projects.

Bounce was inspired by the problems of ICO platforms such as Coinlist and is committed to solving challenges in the ICO investment field. In the past, ICO platforms had problems such as difficulty in identifying project quality, fraud and illegal fundraising, and government agencies imposed strict KYC systems on investors. However, the emergence of DEX provides hope for solving these problems.

Bounce focuses on the decentralized trading market and uses auctions to conduct transactions, which is different from decentralized exchanges such as Uniswap. Through pure decentralized design and semi-open source code, Bounce does not need to implement a KYC system, and all auction data is conducted on the blockchain, which is open, transparent and traceable. This solves the KYC problem, opaque fundraising and potential improper operations that existed in previous centralized crowdfunding platforms.

Bounce's IDO has the following advantages:

First, Bounce provides a fair venue for the project's initial token offering (IDO) through a powerful auction mechanism. Project teams can use Bounce's platform to showcase the project's vision, technical features, and development roadmap, attracting investors from around the world to participate. This open and transparent issuance method allows investors to participate in the project earlier and share in the project's growth and success.

Secondly, Bounce's auction function brings new opportunities for the development of Bitcoin ecosystem projects. By issuing tokens or NFTs through auctions, Bounce provides investors with fair, transparent and competitive participation opportunities. Investors can bid according to their wishes to obtain the project's tokens or NFTs. This auction model stimulates investors' interest and enthusiasm for participation, laying a solid foundation for the success of the project.

In addition, Bounce also provides customized options, allowing project teams to set up according to their own needs. This flexibility allows each project to formulate auction rules, participation conditions, token issuance, etc. according to its own characteristics and development goals. Bounce's incubation engine provides personalized support for the successful development of the project, further enhancing the sustainability and competitiveness of the project.

With the support of Bounce, Bitcoin ecological projects are able to advance their development in a safe, transparent and fair competition environment, attracting a large number of investors and community participants. At the same time, investors can also obtain more investment opportunities and participate in the construction of the Bitcoin ecosystem. As the incubation engine of the Bitcoin ecosystem, Bounce has provided strong support for the success of the project and will continue to play an important role in the development of the Bitcoin ecosystem.

Bounce Finance popular ecological tokens

$IN

MultiBit is a two-sided bridge designed to facilitate cross-network transfers between BRC20 and ERC20 tokens, enhancing liquidity and cross-chain interoperability. Users first transfer BRC20 tokens to a dedicated BRC20 address. From there, these tokens can be minted on the EVM network. MultiBit's innovation lies in its two-sided bridging feature, making it easy to transfer tokens between the EVM network and the Bitcoin ecosystem.

MUBI is a BRC-20 token based on the Bitcoin blockchain of the two-way bridge platform Multibit. Multibit completed IDO through Bounce on November 14. The token MUBI rose by 1140% after opening. The current trading price of MUBI is US$0.288. The increase has exceeded 5339% since the coin was issued.

$BSSB

BitStable is a decentralized asset protocol based on the Bitcoin network, which allows users to generate $DAII stablecoins, a collateral asset related to the Bitcoin ecosystem, on a global scale. This platform uses a dual token system, mainly including two tokens, $DAII and $BSSB, and supports cross-chain operations, enhancing compatibility with other blockchain networks.

BSSB is BitStable's governance token, which is used by the community to maintain the system and manage DAII. BitStable will also incentivize BSSB holders through dividends and other measures. The total supply of BSSB is 21 million, of which, in addition to 50% of the public sale on Bounce, the team will hold 5% of BSSB (6 months lock and 15 months linear unlock), the airdrop will account for 3.5%, the staking reward will account for 36.5%, and the LP will account for 5% (indefinitely locked). Since the IDO on November 29, the price of BSSB has achieved a nearly 700% increase.

$BDID

GoDlD is the first market aggregator focusing on all categories of DIDs. Its core functions are batch search, registration, trading and management of DIDs. GoDID currently serves users such as ENS, Space ID and Bitcoin Ordinals. In the future, GoDID's service scope will cover the entire DID track industry chain, including education evangelism, community building, batch registration, escrow auctions, tools (such as investment tools, airdrop tools, cross-chain management tools, etc.), technology and underlying protocol research and development, and high-quality project investment incubation.

BDID is the native token of GoDlD. The specific utility has not been disclosed yet. The total supply of BDID is 500 million, of which 80% is used for fair launch and user growth, the team holds 5% (locked for 6 months, linearly unlocked for 12 months), airdrop mining accounts for 5%, and liquidity accounts for 10%. GoDlD completed the IDO on Bounce from December 15 to December 17. The current price of BDID is $0.06.