First on chain auction protocol
in Brc20/inscription
We are Bid, a platform dedicated to fair launches, providing users/issuers with a 100% on-chain, 100% fair launch platform. Through the form of a Dutch auction, we aim to prevent front-running, witch attacks, and gas wars, ensuring a fair environment. Additionally, we offer project owners a legitimate revenue channel.
What is
Bid Protocol?
Introduction
BID PROTOCOL is an on-chain auction protocol that allows users to auction BRC/INSCRIPTION assets they desire through a Dutch auction, resulting in a fair sale. The protocol achieves this through gas adjustments in the memepool. In the auction, users can add funds at any time to improve their rankings, and interested users can also join with a large sum at once to acquire the desired tokens.
Anti-Cheating
In the traditional issuance of brc20/inscription, many technical individuals use scripts to mass-produce inscriptions, leaving no room for retail investors to participate. BID PROTOCOL effectively addresses this issue by requiring all users to invest real money to participate in the bidding. “Cheaters” need to incur high financial costs to obtain a large number of chips, providing retail investors with a fair participation interval.
Avoiding Gas Wars
In the traditional issuance of brc20/inscription, popular projects often come with fearsome gas wars. Users pay high gas costs, and there’s a significant chance of not acquiring the assets, with gas fees not being refunded. BID PROTOCOL effectively resolves this issue. During the auction process, users have 24/48 hours, and even longer, to find an appropriate time to submit bids. If a bid is not selected, users can still retrieve their assets after the auction ends.
Offer a sensible economic model
In the traditional issuance of brc20/inscription, many technical individuals use scripts to mass-produce inscriptions, leaving no room for retail investors to participate. BID PROTOCOL effectively addresses this issue by requiring all users to invest real money to participate in the bidding. “Cheaters” need to incur high financial costs to obtain a large number of chips, providing retail investors with a fair participation interval.
Protocol Income
In the traditional issuance of brc20/inscription, developers find it challenging to generate profits within their projects. Project operations/software development undoubtedly incur costs. BID PROTOCOL can provide developers with protocol income settings, allowing them to obtain some funds to better operate the project.
Upgradable
BID PROTOCOL can bring various upgrades in the future, including supporting inscriptions on more chains, supporting more protocols, supporting more currencies/trading pairs, and facilitating more DeFi strategies.
Tokenomics
Total Supply
1,000,000,000
Genesis
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