Jack Lu, 23, was struck by the idea for his new DeFi platform Bounce while working on his thesis on game theory and cryptocurrency at Reed College in California.
“It took me quite a long time to think of it,” Lu explains about his game theory influenced auction platform. “Everyone was talking about lending and borrowing, and doing Uniswap and providing liquidity. When I looked at this financial channel I think there’s one missing piece, which is auctions.”
Lu — who counts Andre Cronje from Yearn.Finance, Kain Warwick from Synthetix and Calvin Liu from Compound as peers — describes Bounce as a decentralized version of eBay, Sotheby’s or Christies. Users can set up pools to auction off tokens, and play around with parameters like the number to be swapped, the time limit and different ways of accepting bids.
He co-founded it with Ankr CEO Chandler Song and the bare bones, black and white platform went live on August 4.