IBIDTOWIN
s a pricing process in which the seller "auctioneer"
What is IBIDTOWIN
The IBIDTOWIN auction floor is a Singapore 4.0 e-commerce platform that will be launched in early June 2020, in the form of Ebay or Amazon. The difference is that the new e-commerce floor uses Blockchain technology, Tokens themselves, and Auction-based businesses
The auction method counts backwards 10 seconds (each time someone clicks on the auction, the 10 second round will be 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 the system builder.
What is the Dutch Auction? Investopedia defines an auction as the process of finding a price in which the "auctioneer" seller starts with the highest Dutch price and gradually decreases it until the cumulative bid is accepted by the entire bid amount. This type of auction is often used for general bidding in order to find the optimal price for the entire number of shares issued by a company. In this process, it is possible to sell the desired quantity at competitive prices, which are found by supply and demand. In our Dutch Auction, the price per Token will go down according to the correct price formula in our personal placement memorandum.
How does the Dutch Quadrant Token Auction Work? As we mentioned earlier, Quadrant will sell about 20% of its common stock, in the form of Quadrant Token, in Quadrant Token Sales. The Token Sales Quadrant consists of two components, Private Pre-Sales and Dutch Public Auctions. In Pre-Sales, we will sell about 10% of Quadrant's common stock, which is estimated at about 10,000,000 Quadrant Tokens. In the Dutch Auction, we will sell all unsold Tokens during Pre-Sale, as well as an additional 10,000,000 Tokens. (So, for example, if 8,000,000 Quadrant Tokens are sold during Pre-Sale, 12,000,000 will be sold during the Auction.) The auction will run for two weeks - the offer will start at an ETH price of approximately $ 10 per Token,
Why the Dutch Auction? Two reasons: transparency and price discovery. In the Dutch Auction, each bidder has complete visibility of the total available offers, current prices, and price changes over time. This mechanism achieves price discovery - each participant can bid for any amount at a price they believe to be the right price, and each offer is viewed, so that each subsequent bidder benefits from information from making their own decisions about the right one. price. This is a classic example of an open and transparent market that facilitates price discovery efficiently.
Raiden Selecting the Dutch auction put us in a good "crypto company", as it resembles the Raiden token, which is approaching the end of last year. Not surprisingly, the Raiden team stated: "We value the efficiency and certainty of service as the most important property for checking Raiden tokens (RDN). Therefore we choose a uniform auction price in the Netherlands as a format."
Dutch Auction and Blockchain Technology. The Dutch auction will be conducted and using ETH currency. This is perfect for blockchain, as successful bidders will claim their tokens with an ETH imbalance, without involving a "Wall Street" transfer agent or other intermediary,
Upon completion of the auction, Tokens will be managed in the Ethereum blockchain, which we believe will provide superior security and efficiency to our Company and our investors.
It does not matter if you have a lot of money or a little money, as long as you click on the auction and the next 10 seconds no one clicks, the product will be yours (either IP 11, or camry car), all this is very possible (test on this floor).
Use the blockchain to contribute to the transparency of auction products and auction participants.
The IBID auction floor works in accordance with the auction format as in the example above, i.e., the user will use Points to click on the product.
Points will be bought with money and very cheap
Floor products of all kinds from AZ, such as Amazon, can be uploaded by users.
Imagine, you can bid a car that costs tens of thousands of rupiah with just a few dozen clicks at a very cheap price, sometimes only the equivalent of a few hundred rupiah.
Exchange will ship the product to you, do not worry.
Mission
Offer to get your favorite items at very low prices through auctions on the iBid Platform
Build platform for blockchain auctions to rise in real time
iBid - A decentralized blockchain auction will change the bidding process, be fair and transparent because the bidding parties can also oversee the auction process.
New blockchain
We chose to use blockchain technology because blockchain is very relevant to our project because it answers some security requirements that can not be guaranteed by traditional auctions.
New Decentralization
Data about each auction is stored in the blockchain Blockchain data is stored in many places Every computer that keeps a copy of the blockchain must approve each addition, protecting it from invalid changes If there is information about bid changes, the digital signature will change for the better. This allows everyone to be able to verify bid information
New offer
This is an intrinsic part of the blockchain, able to solve some of the problems inherent in traditional auctions, including the fact that:
They are not transparent. Bidder has no way to ensure the authenticity, authenticity and validity of the offer, the bid history is made accessible and verified by anyone.
The current auction is not open, due to its centralized essence. Bidders must use the organizer platform. This does not happen with iBid Blockchain because it can be used only for its blockchain layer if necessary. Interoperability is the key. And this is what iBid Blockchain brings.
Why does iBid use a tiered marketing model?
If the iBid auction operates in a traditional system, we have to pay a lot of money for google, facebook, etc. to build a solid community like eBay, eBid, etc. which requires enormous costs to create a fair game for users. But if iBid runs on a new model, users start at just $ 25 but can earn up to $ 15,000 from the system. In addition, when using iBid to bid, users have the opportunity to win many products at very low prices compared to market value.
THE ROLE OF TOKEN
Voting enables 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 internal and individual economics is one of IBID's most important tasks
The iBid token is used as a gateway for you to use certain functions of an ecosystem
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