Bounce Brand Introduces BounceX Perpetual Exchange Powered By AUCTION
In Brief
Bounce Brand launches BounceX, a perpetual exchange that enables users to use AUCTION as collateral for leveraged trading, further enhancing the token’s utility.
Decentralized platform Bounce Brand revealed plans to introduce BounceX, a perpetual exchange powered by its native token, AUCTION. This new exchange allows users to utilize AUCTION as collateral for leveraged trading, thereby enhancing the token’s practical use.
BounceX offers traders the ability to engage in perpetual, leveraged trading with a distinctive feature: AUCTION serves as the collateral asset. By incorporating AUCTION in this role, BounceX not only increases trading options but also enhances the token’s overall utility.
On BounceX, traders can deposit AUCTION to manage leveraged positions, which means they can control a market position larger than their initial deposit. This feature highlights the added advantages of using AUCTION as collateral.
When traders use AUCTION as collateral, they can benefit from potential increases in its value while their positions remain open. For example, if the market price of AUCTION rises during an active leveraged trade, the value of the collateral grows as well. This increase can enhance the trader’s equity in the position, potentially allowing for greater leverage and higher returns.
Conversely, if the value of AUCTION falls, the collateral’s worth diminishes. In such cases, traders may need to add more collateral to maintain their leverage or avoid liquidation, as the reduced equity in their position could compromise their margin requirements.
BounceX leverages deep liquidity from multiple platforms to enhance the perpetual trading experience, aiming for smoother order execution and a more stable market environment.
Bounce Brand Partners With BounceBit To Support Projects On BounceBit Chain
Bounce Brand is a decentralized platform focused on driving innovation and addressing the needs of the Web3 ecosystem. Since its founding in 2020, it has gained recognition for its Auction-as-a-Service model, which provides an onchain auction protocol. This protocol supports Launchpad services and facilitates permissionless auctions for tokens, non-fungible tokens (NFTs), and real-world assets (RWAs).
Recently, Bounce Brand has collaborated with BounceBit to offer Launchpad support for leading projects on the BounceBit (BB) chain. This partnership allows community members to engage in token launches on the BB Chain, broadening their participation in the ecosystem.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
