Crypto News– Prepare for an exciting journey with Bounce Finance as we introduce the Bounce iPhone 15 Auction, showcasing Apple’s latest release, the iPhone 15 Pro Max. Upon the debut of the iPhone 15, the ultimate victor of this auction will not only acquire an iPhone 15 Pro Max but also an exclusive NFT.
Guide for iPhone 15 Auction on Bounce Finance
Commencing on September 9th at 3 PM UTC, this auction represents the inaugural instance where participants will partake in a Mutant English auction using $AUCTION tokens. Dive into this comprehensive guide to acquaint yourself with the particulars of this auction and learn how to participate and reap real rewards.
Commencement Date: September 9th, 3 PM UTC
Auction Page Link: https://app.bounce.finance/rwa/iphone15
Auction Type: Mutant English Auction
Bidding Currency: $AUCTION
Auction Blockchain: Ethereum
Initial Bid (Floor Price): 10 $AUCTION
Bid Increment Rate: 5%
Time Limit to Place Higher Bids: 24 Hours
Auction Conclusion: When no higher bid is placed within 24 hours
The Bounce iPhone 15 Auction debuts in the format of Bounce Finance’s latest innovation, the Mutant English Auction. The opening bid is set at 10 $AUCTION, and each subsequent bid must surpass the previous bid by 5%. For instance, the second bid becomes 10.5 $AUCTION, the third bid becomes 11.025 $AUCTION, and so forth. After each bid is made, a 24-hour countdown initiates for the next higher bid. The auction draws to a close when no higher bid emerges within 24 hours after the most recent bid, declaring the last bidder as the ultimate victor of the auction.
Current Bid Price (From 2nd Bid): Last Bid Price * (1 + 5%)
Current Bidder Pays: Current Bid Price + Previous Bidder’s Gas Fee Reimbursement for
Current Bidder on Next Bid: Bid Price Paid + Gas Fee Current Bidder’s
APY on Next Bid: (Current Bid Price) * 2.5% 5%
Price Increase Allocation: 2.5% is allocated to the preceding bidder, while the remaining 2.5% goes to Bounce as the auctioneer
The Highest Bidder (Final Winner) Receives: An iPhone 15 Pro Max & its NFT Each participant is responsible for paying the current bid price along with the gas fee of the previous bidder. Whenever a new bid is made, the previous bidder receives a refund comprising their bid amount and gas fee, and they also earn rewards equal to 2.5% of their bid price. In essence, every participant, except for the ultimate winner, garners a 2.5% APY in $AUCTION within a 24-hour window, while the final victor receives an iPhone 15 Pro Max alongside its accompanying NFT.
About Bounce Finance
Bounce Finance is a decentralized platform dedicated to meeting the evolving needs of the Web3 space. Established in 2020, Bounce Finance is proudly known for its outstanding user experience and seamless integration of blockchain technology in trading both digital and tangible assets. We provide a decentralized auction protocol that empowers users to create and participate in diverse types of auctions on multiple blockchain networks.