With yesterday seeing the launch of one of the cleanest and most interesting new platforms in the DeFi space, let's take a look at "DefiBids", a fully decentralized auction platform built upon Ethereum, and powered completely by smart-contracts, that allows users to bid upon a variety of packages of cryptocurrency tokens.
"Bid small, Win BIG" is the platforms call-to-action, with the initial auctions following the LUB (lowest unique bid) format (though other auction types are set to follow). In lowest unique bid auctions (if it isn't self-explanatory) the lowest "unique" bid wins the prize. And as such the platform offers users the chance to win sizeable amounts of crypto for considerably less than the market price. Below are some of the first auctions that were won yesterday following launch...
Though it should be pointed out that each bid costs credits to place, with each credit costing $1. So that while the winning bid shown above is your "guess", it will always cost you at least $1 to make said guess. With the majority of auctions thus far having a $2 cost to play.
Additionally it should also be pointed out that LUB auctions can be played in a variety of strategic ways, luck can certainly play a part, but there are plenty of resources to be found on the internet for those who take this style of auction more seriously, and wish to increase their chances of winning, through a variety of different tactics designed to increase your odds of scoring that big prize.
Some of the tokens available to be won at DefiBids at launch include: ETH, UNI and USDT. With others such as LINK, MCO LUKSO and GRT also being integrated, and with many more on the way.
The BID Token
DefiBids has a native token in the "BID" token. Which is a deflationary staking token with great tokenomics for stakers. Not only is it a deflationary token as mentioned, meaning that the supply of BID gets smaller with every single transaction. Each time a transaction occurs 2% of the transaction is removed as a "tax", with 1% being burned forever, and the other 1% being transferred to the staking pool to be shared out among all stakers.
This can create some juicy rewards fro BID stakers on its own, but the staking rewards don't stop there. Because 15% of all ETH spent on the platform to purchase credits for bidding is also sent to the staking pool and divided up among stakers. Meaning that staking the BID token allows stakers to earn rewards in both BID, and ETH - paid out daily.
The DefiBids Referral program
And as a cherry on the cake, you can also earn ETH by promoting DefiBids among your friends and followers using your own personal referral link. 5% of all ETH spent on the platform by those you refer, for life, is paid out to you in ETH, instantly as they buy credits (using said smart-contracts). So if you have a following in the crypto space and you're looking to earn some ETH and/or have some friends to whom DefiBids might appeal, go grab your referral link and get earning...
>> JOIN DEFIBIDS TO WIN PACKAGES OF CRYPTO <<
