The new phase of Bounce's project BDID is coming, and how to participate in it BTC?

Original | Odaily

Author | Aurantium aurantium

On December 11, Bounce Finance announced the launch of a new phase of its Launchpad program, Bdid (BDID), a DID service platform on BTC L2. As BitStable Finance (BSSB), Bounce Finance’s first BTC-based ecological Launchpad project, has achieved an astonishing increase of more than 45 times, the market is also full of expectations for BDID. Odaily will provide a detailed background to the project and relevant data to help investors make decisions.

I. Project Introduction

BTC Native DID service platform

GoDID is a marketplace aggregator for decentralized identity (DIDs) that currently serves ENS, Space ID, and BTC Ordinals DIDs. The ENS module supports its entire lifecycle, including search, registration, transactions, and management.

GoDID enhances the ENS user experience with a variety of tools and leaderboards, such as bidding by category, advanced sniper, and cross-market listing, and has a comprehensive taxonomy system with 144 different categories for easy user discovery and trading activity.

Bdid is a one-stop platform incubated by GoDID, providing services for decentralized identity DIDs in the BTC ecosystem.

What is a BDID?

BDID will initially support a range of major DIDs in the Ordinals ecosystem, such as .sats, .bitmap, .btc, .x, .brite and .unisat, to provide registration, transaction, and management services.

In the future, BDID plans to develop innovative derivatives of the Ordinals DID ecosystem, aiming to increase the circulation and value of Ordinals DIDs. In addition, Bdid.io will work to reduce the differences between the various DID protocols on the BTC Layer 2 and enhance the connectivity and synergies between different DIDs in the ecosystem.

BDID is a project token that belongs to BDID, and the specific utility has not been disclosed, most of which is used for Bounce Launch, and a small part is used for mining or allocated to the GoDID team.

BDID token allocation

Total supply: 500, 000, 000 pcs

Launch allocation: 400, 000, 000 (80% of the total supply, 20% for lucky draw, 40% for AUCTION stake, 20% for DAII stake)

Liquidity: 50, 000, 000 (10% of Total Supply)

Mining Airdrop: 25, 000, 000 (5% of total supply, for MUBI, BSSB, AUCTION, WBTC, for 50 days)

Team allocation: 25, 000, 000 (5% of total, 6 months locked, 12 months linear vesting)

Second, how to participate

There are three ways to participate in this Launch: using AUCTION to purchase raffle tickets for the lottery, staking AUCTION and getting the allocation on a pro-rata basis, and staking DAII (a stablecoin issued by the previous Launch project) and getting the allotment on a pro-rata basis, and the details of the participation process are as follows:

1. Lottery mode

Start: December 15 at 21:00 to December 17 at 21:00 (UTC+8)

Ticket price: 62.5 AUCTION each

Raffle ticket sales: 300 tickets

Number of winning tickets: 150 tickets, each with 666, 666 BDIDs

Participation process: This participation requires users to purchase 300 raffle tickets using AUCTION, and Bounce will draw 150 winning tickets, each of which will distribute 666, 666 BDID. Due to the scarcity of tickets, it is expected that this part will be taken by scientists.

2.AUCTION Staking mode

Start: December 15 at 21:00 to December 17 at 21:00 (UTC+8)

Token Distribution: 200, 000, 000 (40% of Total Supply)

Distribution Price: 1 BDID = 0.00009375 AUCTION (approximately equivalent to 0.0017 USDT, corresponding to the total market capitalization of the project of $850,000)

Distribution method: over-subscription mode (the same as the previous BSSB, the amount of tokens allocated will be determined according to the proportion of the total amount invested)

Participation process: Users can buy AUCTION on-chain or centralized exchanges, and then stake them through official channels, Bounce will charge the corresponding AUCTION according to the proportion, and then calculate the user’s BDID subscription amount according to the above price, and the excess AUCTION will be refunded after the staking is completed (users need to claim it themselves).

Example: Suppose all users invest a total of 187,500 AUCTION, and user A invests 18,750 AUCTION, Bounce will collect 1,875 AUCTION and distribute 1,875 ÷ 0.00009375 = 20, 000, 000 tokens. It can also be understood that user A invests 10%, so user A can get 10% of the 200 million tokens allocated in this batch, that is, 20 million.

3.DAII staking model

Start: December 15 at 21:00 to December 17 at 21:00 (UTC+8)

Token Distribution: 100, 000, 000 (20% of Total Supply)

Distribution price: 1 BDID = 0.0015 DAII (approximately equivalent to 0.0015 USDT, corresponding to the total market capitalization of the project of $750,000)

Allocation method: over-subscription mode (same as above)

DAII Introduction: It is a USD stablecoin issued by the previous Launch project BitStable, which users can obtain by staking ORDI or MUBI on the BitStable official website, and the project team has also issued some DAII on ETH, which can be purchased directly.

(Related Reading: “Understanding the Features of the BitStable Project and the Public Sale Process in One Article”)

Participation process: Same as the AUCTION staking model, users can stake DAII through official channels after obtaining DAII, Bounce will charge the corresponding AUCTION according to the proportion, and then calculate the user’s BDID subscription amount according to the above price, and the excess AUCTION will be refunded after the staking is completed (users need to claim it by themselves). The calculation is consistent with the AUCTION staking model.

Summary

Based on the above information, there are several conclusions:

• Although the number of lottery places has increased by 2 times compared to the last time, the lottery tickets are still expected to be monopolized by scientists;
• Previously, the current price of the Launch token BSSB is about 2.4 USDT, with a total market capitalization of more than $40 million, a maximum increase of more than 45 times, and even 75% of the scientists who were burned have made a huge profit. Although the concept of this project is not as good as the previous project, it may have greater room for expectation in the current market background;

(Related Reading: "Burning Public Sale Tokens?A Detailed Explanation of BSSB’s “Fair” Sale Event)

• This Launch uses DAII, the project token of the previous Launch, as the first project of Bounce’s recent efforts, or hints at Bounce’s plan to build a series of BTC ecological projects. **If the plan is effectively realized, Bounce’s utility token, AUCTION, will also benefit from it. **