Nanda Crypto: Overview of iBidtoWin. How it works

Hello friends, Back with me Damkar58, Thank you for giving me the opportunity to provide an explanation of the auction floor method named IBid, For more details, Let's look together with my blog below:

What is 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 business trading based on Auctions

The 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 launches the auction operation for the product within 10 seconds will belong to the last person clicked. at auction. People will bid based on Points ($ 0.13 range = 1 point), every click you will lose 1 point

Points can be bought, or given from the system maker.

What is the Dutch Auction?

Investigations were issued in Dutch auctions as a price discovery process where sellers of "auctioneers" started with high purchase prices and then reduced them suddenly to be accepted by the bid amount. This type of auction is often used for initial public offerings to find the optimal price for the full number of shares issued by a company. In this process, offered for sale is offered at competitive prices, which are found by supply and demand. In our Dutch Auctions, the price per Token will be reduced according to the price formula added to our personal placement note.

How Does the Dutch Quadrant Token Auction Work?

As we mentioned before, Quadrant will sell around 20% of common shares, in the form of Quadrant Tokens, in Quadrant Token Sale. Quadrant Sales The Quadrant consists of two components, Private Pre-Sales and Dutch Public Auctions. In Pre-Sales, we will sell around 10% of Quadrant's common stock, which can reach 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 Quarter Tokens are sold during Pre-Sales, 12,000,000 Tokens will be sold during the Auction.) The auction will run for two weeks - bidding will start with an estimated ETH price of around $ 10 per Token.

Why the Dutch Auction?

Two reasons: price agreement and discovery. In the Dutch Auction, each bidder has complete visibility about the total available supply, current prices, and price changes according to time. Each bid can bid any amount at the price they believe to be the correct price, and each bid is visible, so that each subsequent bidder gets the direct benefit of bid information to make new decisions about the correctness of the price. This is a classic example of open and transparent market activation that efficiently facilitates price discovery.

Raiden Choosing a Dutch auction transfer puts us in a good "crypto company", because it is similar to Raiden's token, which was completed at the end of last year. Not surprisingly, the Raiden team stated: "We assess the efficiency and certainty of participation while giving the most important rating to increase the Raiden token (RDN). Therefore we chose a uniform Dutch auction price as the format."

Dutch Auction Technology and Blockchain. Dutch auctions will be conducted and denominated in ETH. This is perfect for the blockchain, because successful bidders will receive their tokens with an ETH imbalance, without involving the "Wall Street" transfer agent or accepting others,

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 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 (test on this floor).

Mission:

Offer to get your favorite items at very cheap prices by auctioning the iBid Platform

Build platforms for real-time auctions, ride the blockchain

iBid - a decentralized blockchain auction will change the bidding process, to be fair and transparent because the bidding party can also oversee the auction process.

New blockchain:

We chose to use blockchain technology because it is indeed very relevant to our project because it answers some security requirements that cannot currently be guaranteed by traditional auctions.

New Decentralization:

Data about each auction is stored on the blockchain. Blockchain data is stored in many places. Every computer that keeps a copy of the blockchain must approve every addition, protecting it from unauthorized changes. If there is information about the bid change, the digital signature will change as well This allows everyone to be able to verify the bid information

New offer:

This is an intrinsic part of the blockchain, it can solve several problems inherent in traditional auctions, including the fact that:

They are not transparent. Bidders do not have a way to ensure the origin, authenticity, and legitimacy of higher bids, the history of offers can be tracked and verified by anyone.

Auctions are not currently open, because of the essence of their centralization. Bidders must use an organizer platform. This is not the case with iBid Blockchain because it can be used only for the blockchain layer if needed. Interoperability is the key. And this is what brought iBid Blockchain.

ROL TOKEN:

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

Exchange rates in the iBid ecosystem. Creating and Overcoming Internal and individual economic problems is one of the most important tasks of the IBID token

IBid tokens are used as a fee gateway for you to use ecosystem specific functions.