A Young Graduate Develops a DeFi Platform Through Study of Game Theory and Cryptocurrency 

Jack Lu, 23 years of age, is a Chinese national who discovered his new platform, DeFi Platform Bounce as he worked on his thesis in game theory and cryptocurrency at the Reed College in California. With so many discussions going on about lending and borrowing as well as the provision of liquidity and creation of Uniswap, Lu was keen to realize by the use of the game theory that there was a missing part. This was auctions. 

DeFi platform Bounce as described by Lu is an eBay, Christies or Sotheby’s but in a decentralized form. On this platform, users are enabled to set pools up in for auctioning tokens. Also, they can play around with parameters, for instance, the numbers that should be swapped, they can determine the time limit and come up with as many different ways of bidding as possible. His three peers with whom he worked were Andre Cronje, Yearn.Finance, Calvin Liu, Compound and Kain Warwick, Synthetix. 

Having co-founded the platform with Ankr, Chandler Song’s CEO, Lu explains how as row as it was, the platform was launched and went live on 4th August. Lu acknowledges partnering with many other friends to have made this a reality. The platform has only been in operation for about 2 months but it is already placed position nine on gas station, ETH.

Within this short time, more than 2700 pools have been set up on the platform and far much more than 500000 Ether of $179M dollar equivalence has been exchanged through its Ethereum version. Bounce, one of the five major projects that had been announced to go to the Binance Smart Chain has also seen great success as more than 700000 BNB which is equivalent to $18.5M got swapped via this version since September. The site provides two types of auctions, Fixed Swap and Sealed Bid Auctions.

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