BIDSHOP (BIDS)

BIDSHOP (BIDS) is a liquidity hub for all web3 assets, revolutionizing liquidity generation by integrating encryption technology into ZKsync for fast and cost-effective transactions. As the first and only trustless marketplace with encrypted and secret bidding, BIDSHOP opens up a new world of gamification and liquidity for NFT’s. With BIDSHOP, users can participate in Initial Bid Offerings (IBOs) to farm tokens by placing bids in auctions and enjoy fair token launches.

Through the IBO mechanism, BIDSHOP allocates a fixed number of Volume rewards to all auction bidders every 2 hours. The share of Volume rewards is determined by each bidder’s “Boosted Volume,” which is calculated based on the volume generated by their bids multiplied by their Volume booster. Users can lock BIDS tokens for a longer duration to enhance their rewards, increasing their Volume Booster. Additionally, staking BIDS LP allows users to earn BIDS rewards and wETH rewards from platform revenue.

Users can lock BIDS tokens for a Boosted APR to further amplify their APR in LP staking. The flexibility of BIDSHOP’s system allows users to consolidate their tokens and receive both the APR booster and Volume Booster from a single allocation. By placing bids in auctions and staking their rewards, users can participate in a liquidity flywheel that fosters continuous engagement and earning opportunities. BIDSHOP’s IBO auction offers prizes such as wETH and Blue chip NFTs, in addition to the distribution of BIDS tokens.