Crypto Pacitan : IBID

IBID

What

IBIDTOWIN Auction platform IBIDTOWIN is an e-commerce platform Singapore 4.0, which will be launched in early June 2020 in the form of Ebay or Amazon. The difference is that in this new e-commerce hall, Blockchain technology is used, tokens themselves and trading companies based on

A 10-second auction with a countdown auction (every time someone clicks on an auction, the 10-second cycle will be re-counted from the very beginning) until no one presses the auction operation for the product within 10 seconds, he will belong to the last one to click on the auction. People will make bets based on points (in the range of $ 0.13 = 1 point), every click you lose 1

A point can be bought or obtained from the system manufacturer.

What is a Dutch auction? Investopedia defines Dutch auctions as a price discovery process, when sellers of “auctioneers” start with high asking prices and then gradually lower them until the resulting total bids cover the full amount of bids. This type of auction is often used for an initial public offering to find the best price for the total number of shares issued by the company. In this process, you can sell the estimated quantity at competitive prices, which are determined by the forces of supply and demand. At our Dutch auction, the price for the token will be reduced in accordance with the pricing formula described in our personal placement memorandum.

How does the token auction work in the Dutch quadrant? As we mentioned earlier, the Quadrant will sell about 20% of the ordinary shares in the form of a Quadrant token in the sale of the Quadrant token. Quadrant Token Sales consists of two components: private pre-sales and Dutch public auctions. As part of the pre-sale preparation, we will sell about 10% of the common Quadrant shares, which is about 10,000,000 Quadrant tokens. At a Dutch auction, we will sell all tokens that were not sold during pre-sales, as well as 10,000,000 additional tokens. (So, for example, if 8,000,000 quadrant tokens are sold during pre-sales, 12,000,000 will be sold during the auction.) The auction will last two weeks - trading will start at an ETH price of approximately $ 10 per token,

Why a Dutch auction? Two reasons: transparency and price disclosure. At a Dutch auction, each bidder has complete information about the general available offer, current prices and price changes over time. This mechanism allows you to determine the price - each participant can apply for any amount at a price that, in his opinion, is correct, and each bid is considered, so that each subsequent participant receives direct benefit from information about the offer when making their own decisions about the right price . price. This is a classic example of an open and transparent market mechanism that effectively facilitates price discovery.

Raiden Choosing the Dutch auction mechanism put us in a good “cryptographic company” because it looks like the launch of the Raiden token, which was completed by the end of last year. Not surprisingly, the Raiden team said: “We value efficiency and confidence in participation, providing certainty of evaluation as the most important property for launching the Raiden token (RDN). Therefore, we have chosen a single Dutch auction price as the format. ”

Dutch auction and blockchain technology. Dutch auctions will be held and denominated in ETH. This is ideal for the blockchain, because successful bidders will be able to claim their tokens in exchange for ETH, without involving Wall Street transfer agents or other intermediaries,

After the end of the auction, token management will be carried out through the Ethereum blockchain, which, in our opinion, will provide the company and our investors with excellent security and efficiency.

It doesn’t matter if you have a lot of money or little money while you click on the auction, and during the next 10 seconds no one clicks on the auction, the product will be yours (either IP 11 or Camry Car) All this is very possible (test on this floor) .

Use blockchain to promote transparency of auction products and bidders.

The IBID auction room operates in accordance with the auction format, as in the example above, i.e. the user will use Point to click on the product auction.

Points will be bought for money and very cheap.

Products on the floor - all types from AZ, such as Amazon, can be downloaded by users.

Imagine, you can bid for a car that costs tens of thousands of dollars in just a few tens of clicks at a very low price, sometimes equivalent to a few hundred dollars.

The exchange will send you the goods, do not worry.

TOKEN ROLES

Voting provides a list of DApps, products and services in the iBid ecosystem. You have the right to decide which iBid will sponsor and reject projects.

Exchange value in the iBid ecosystem. Creating and maintaining an internal and individual economy is one of the most important tasks of tokens

IBID IBid tokens are used as a paid gateway for your use of certain ecosystem features.

mission

Bidding for your favorite items at extremely low auction prices on the iBid platform.

Creating a platform for upstream blockchain auctions in real time.

IBid - a decentralized blockchain auction will change the bidding process, becoming honest and transparent, since bidders can also control auction processes.

New blockchain

We decided to use blockchain technology because blockchain is really very important for our project, because it meets some security requirements that traditional auctions cannot guarantee at the moment.

New decentralization

Data about each auction is stored on the blockchain. Blockchain data is stored in several places. Each computer on which a copy of the blockchain is stored must approve each addition, protecting against unauthorized changes. If any bid information changes, the digital signature will change as well. This allows everyone to be able to verify information about

bidding. New bidding.

This is an integral part of the blockchain, capable of solving several problems inherent in traditional auctions, including the fact that:

they are not transparent. Bidders are unable to ensure the origin, authenticity and legitimacy of a higher bid; the bid history is tracked and verified by someone.

Current auctions are not open due to their centralization. Bidders must use the platform of the organizer. This does not apply to the iBid blockchain, since if necessary it can be used exclusively for its blockchain level. Compatibility is the key. And this is what iBid Blockchain brings.

Why does iBid use a multi-level marketing model?

If the iBid auction works in traditional systems, we have to pay a lot of money for Google, Facebook, etc., to create a solid community, such as eBay, eBid, etc., which is very expensive to create an honest game for users. . But if iBid runs on the new model, users start at $ 25, but can earn up to $ 15,000 on systems. In addition, when using iBid for betting, users have the opportunity to win many products at very low prices compared to market value.