Introducing Burnt Finance
Burnt Finance is the first decentralized auction protocol on Solana.
Burnt allows users to take auctions into their own hands, enabling the minting and trading of any asset in an entirely permissionless ecosystem. The platform can support auctions for synthetics, NFTs, digital assets, and much more.
Burnt Finance was founded by Burnt Banksy, an anonymous figure who made history in the NFT community with the burning of an authentic Banksy art work. They did this in order to demonstrate that the value of a physical artwork can be transferred into an NFT itself.
Burnt Finance offers all users unrestricted access to host a variety of auctions ranging from English to Dutch. Additionally, users will be able to mint a diverse set of synthetic assets as well as NFTs.
A few major highlights of Burnt Finance include but are not limited to the following:
- Fully decentralized: Burnt Finance is an entirely decentralized protocol built on Solana that is able to support entirely decentralized auctions.
- User-Friendly: Users can easily mint new synthetics or NFTs in just a few clicks.
- Fast Transactions: Burnt can process 50,000 transactions per second within a 400 millisecond block time which allows for a truly fast bidding process and reduces opportunities for bid manipulation
- Negligible Fees: Transaction fees hover around $0.00005 for bidding or the minting of new assets
- Limitless Auctions: Burnt allows for the creation of English, Dutch, Bonding curves, and a plethora of other auction formats. This allows new artists to sell their works while new projects can also utilize Burnt’s platform for fundraising
- Unlimited Assets: Users can mint a diverse array of assets such as synthetics, NFTs, and new digital assets
What is Solana?
Solana is a fast, secure, and censorship resistant blockchain providing the open infrastructure required for global adoption.
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