IBID
What is the IBIDTOWIN
The IBIDTOWIN auction floor is a Singapore 4.0 e-commerce platform which 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, Tokens themselves and trading businesses based on the Auction
10-second countdown auction method (every time someone clicks on the auction, the 10-second loop will be counted again from the start) until no one presses the auction operation for the product within 10 seconds it will belong to the last person who clicks on the auction. People will bid based on Points (range $ 0.13 = 1 Point), each click you will lose 1 Point
Points can be bought, or given from the system maker.
What is the Dutch Auction? Investopedia defines Dutch auctions as a price discovery process where sellers of "auctioneers" start with high asking prices and then decrease them gradually until the cumulative bids received cover the entire bid amount. This type of auction is often used for initial public offerings to find the optimal price for the full amount of stock issued by a company. In this process, it is possible to sell the intended quantity at competitive prices, which are found by the forces of supply and demand. In our Dutch Auction, the price per Token will decrease consistent with the pricing formula described in our personal placement memorandum.
How Does the Dutch Quadrant Token Auction Work? As we mentioned before, the Quadrant will sell about 20% of the common stock, in the form of a Quadrant Token, in a Quadrant Token Sale. Quadrant Token Sales consist of two components, Private Pre-Sales and Dutch Public Auctions. In Pre-Sales, we will sell around 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 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 run for two weeks - the bidding will start with an ETH price of roughly equivalent to $ 10 per Token,
Why the Dutch Auction? Two reasons: transparency and price discovery. In the Dutch Auction, each bidder has complete visibility regarding the total available supply, current prices, and price changes 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 every bid is seen, so that each subsequent bidder gets a direct benefit from bid information in making their own decisions about the correct price. This is a classic example of an open and transparent market mechanism that efficiently facilitates price discovery.
Raiden Choosing the Dutch auction mechanism put us in a good "crypto company", because it is similar to the launch of the Raiden token, which was completed towards the end of last year. Not surprisingly, the Raiden team stated: "We value efficiency and certainty of participation while providing certainty of valuation as the most important property for the launch of the Raiden token (RDN). We therefore chose a uniform Dutch auction price as the format. "
Dutch Auction and Blockchain Technology. Dutch auctions will be conducted and denominated in ETH. This is perfect for a blockchain, because successful bidders will be able to claim their tokens in return for ETH, without involving "Wall Street" transfer agents or other intermediaries,
After the auction is over, the Token will be managed on the Ethereum blockchain, which we believe will give the Company and our investors superior security and efficiency.
It doesn't 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 nobody clicks on the auction, the product will be yours (either IP 11, or camry car), all of this is very possible (the test on this floor) .
Use the blockchain to contribute to the transparency of auction products and auction participants.
The IBID auction floor operates according to 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 with money and are very cheap
Products on the floor are all types from AZ, such as Amazon, may be uploaded by users.
Imagine, you can bid a car that costs tens of thousands of dollars with only a few dozen clicks at a very low price, sometimes only equivalent to a few hundred dollars.
Exchange will send the product to you, don't worry.
TOKEN ROLES
Voting allows the 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 IBID tokens
iBid tokens are used as a fee gateway for you to use certain functions of an ecosystem.
Mission
Bidding to get your favorite items extremely cheap prices by auction on iBid Platform
Build a platform for real-time, ascending blockchain auctions
iBid - the decentralizing blockchain auction will transform the bidding processes, becoming fair and transparent as the bidding parties are also able to supervise the auction processes.
New blockchain
We choose to use blockchain technology because blockchain is, indeed, perfectly relevant to our project as it answers some security requirements that traditional auctions can not currently guarantee.
New Decentralization
The data about each auction is stored in the blockchain The blockchain data is stored in multiple places Every computer that stores a copy of the blockchain must approve each addition, protecting against unauthorized changes If any information about the bid changes, the digital signature would change as well. This enables everyone to be able to verify bid information
New bidding
This is intrinsic part of blockchain, can solve several issues that is inherent to traditional auctions, including the fact that:
They are not transparent. Bidders have no way to ensure the origin, authenticity and legitimacy of a higher bid, bidding history is made trackable and verifiable by anyone.
Current auctions are not open, because of the very essence of their centralization. Bidders must use the organizer’s platform. This is not the case with iBid Blockchain as it can be used solely for its blockchain layer if necessary. Interoperability is the key. And this is what iBid Blockchain brings.
Why iBid use multi-level marketing model?
If iBid auction operates in the traditional systems, we must pay a lot of money for google, facebook, etc to build a solid community like eBay, eBid, etc which cost very much to create fair play for users. But if iBid runs on a new model, users start with only $ 25 but can earn up to $15.000 from systems. In addition, when using iBid to bid, users have the opportunity to win many products at very cheap prices compared to market value.
information
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Link to Download the iBid Application
