The IBIDTOWIN auction floor is a Singapore e-commerce platform 4.0 that will be launched in early June 2020, in the form of Ebay or Amazon. The difference is that this new e-commerce floor uses Blockchain technology, the Token itself, and an Auction-based trading business
The 10 second countdown auction method (every time someone clicks on the auction, the 10 second round is counted again from the beginning) until no one presses the auction operation for the product within 10 seconds, the product will belong to the last person to click on the auction. People will bid based on Points (range $ 0.13 = 1 Point), each click you will lose 1 Point
Points can be purchased, or awarded from system builders.
What is a Dutch Auction? Investopedia defines a Dutch auction as a price search process in which the seller's "auctioneer" starts with the high asking price and then gradually decreases it until the cumulative bid received covers the entire bid amount. This type of auction is often used for initial public offerings to find the optimal price for the total number of shares issued by a company. In this process, it is possible to sell the quantity desired at the competitive price, which is found by the forces of supply and demand. In our Dutch Auction, the price per Token will decrease according to the price formula described in our private placement memorandum.
How Does the Dutch Quadrant Token Auction Work? As we mentioned earlier, Quadrant will sell around 20% of the common stock in the form of Quadrant Tokens in the Quadrant Token Sale. The Token Sales Quadrant consists of two components, Private Pre-Sales and Dutch Public Auctions. In Pre-Sale, we will sell approximately 10% of Quadrant's common stock, which amounts to around 10,000,000 Quadrant Tokens. In the Dutch Auction, we will sell all Tokens that were not sold during the Pre-Sale, as well as an additional 10,000,000 Tokens. (So, for example, if 8,000,000 Quadrant Tokens were sold during the Pre-Sale, 12,000,000 would be sold during the Auction.) The auction will run for two weeks - bidding will start with an ETH price roughly equivalent to $ 10 per Token,
Why Dutch Auction? Two reasons: transparency and price discovery. In the Dutch Auction, each bidder has complete visibility into the total available bids, current prices, and changes in price over time. This mechanism achieves price discovery - each participant can bid for any amount at the price they believe to be the correct price, and each bid is viewed, so that each subsequent bidder benefits from the information of making their own decision about the right one. price. This is a classic example of an open and transparent market that facilitates efficient price discovery.
Raiden Choosing a Dutch auction puts us in the position of a good "crypto company", as it is similar to the Raiden token, which was towards the end of last year. No wonder the Raiden team stated: "We appreciate the inefficiency and certainty of participation and provide a certainty assessment as a positive Raiden token (RDN) post. We therefore chose uniform auction prices in the Netherlands as the format. "
Dutch Auction and Blockchain Technology. The Dutch auction will be conducted and use the ETH currency. It is perfect for blockchain, as successful bidders will be able to claim their tokens with ETH imbalance, without involving "Wall Street" transfer agents or other intermediaries,
After the auction is over, the Tokens will be managed on the Ethereum blockchain, which we believe will provide our Companies and investors with superior security and efficiency.
It doesn't matter if you have a lot of money or a little money, as long as you click the auction and in the next 10 seconds no one clicks the auction, the product will be yours (either IP 11, or camry's car), all this is possible (test on this floor )).
Use blockchain to contribute to the transparency of auction and bidder products.
The IBID auction floor works according to the auction format like the example above, where users will use Points to click on products.
Points will be bought with money and are very cheap
Products on the floor of all types from AZ, such as Amazon, can be uploaded by users.
Imagine, you can bid on a car that costs tens of thousands of rupiah in just a few tens of clicks at a very low price, sometimes only the equivalent of a few hundred rupiahs.
Exchange will ship the product to you, don't worry.
THE ROLE OF THE TOKEN
Voting activates a list of DApps, products and services in the iBid ecosystem. You have the right to decide which iBid will reject and reject the project.
Exchange rates in the iBid ecosystem. Creating and writing the internal and individual economy is one of the most important tasks of the IBID token
The iBid token is used as a fee gateway for you to use certain functions of an ecosystem.
Mission
Offer to get your favorite items at very low prices via auctions on the iBid Platform
Build a platform for blockchain auctions to go up in real time
iBid - decentralized blockchain auction will change the bidding process, to be fair and transparent as bidders can also provide an opportunity for the auction process.
New blockchain
We chose to use blockchain technology because blockchain is highly relevant to our project because it meets several security requirements that traditional auctions cannot currently guarantee.
New Decentralization
Data about each auction is stored on the blockchain Blockchain data is stored in multiple places Every computer that stores the blockchain must have every addition, protecting against unauthorized changes If there is information about bid changes, the digital signature will also change. This allows everyone to be able to verify the information on the offer
New offer
It is an intrinsic part of the blockchain, solving some of the problems inherent in traditional auctions, including the fact that:
They are not transparent. Bidders have no way of ensuring authenticity, authenticity and higher validity of bids, bid history is made traceable and compiled by people.
The auction is currently not open, due to the essence of its centralization. The bidder must use the organizing platform. This is not the case with the iBid Blockchain as it can only be used for its blockchain layer if necessary. Interoperability is key. And this is what iBid Blockchain brings.
Why does iBid use a tiered marketing model?
If iB auction is not trusted in the traditional system, we will have to pay a lot of money to google, facebook, etc. To build a solid community like eBay, eBid, etc. Which costs a lot of money to create fair play for users. But if iBid runs on the new model, users start at just $ 25 but can earn up to $ 15,000 from the system. Also, when using iBid to bid, users have the opportunity to win many products at very low prices compared to market value.
market value.
Token iBid
Ticker: iBid
Token Price: 1iBid = 1USDT
Total supply: 100,000,000
Token Token: Utility
Roadmap iBid
For more information on iBid. Follow iBid on their social media accounts:
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