🛒 Honest Auctions
NFT Auctions with fair-value price discovery through homomorphic encryption
Created on 1st March 2024
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🛒 Honest Auctions
NFT Auctions with fair-value price discovery through homomorphic encryption
The problem 🛒 Honest Auctions solves
Out-smart irrational market-dynamics:
FOMO & Human irrationalities are the biggest price drivers for crypto assets ->
what would be approaches to overcome the trap of irrational market-dynamics?
Honest Auctions allows users to participate in a novel form of NFT Auctions, that puts a twist on human psychology:
What are you willing to pay for an Asset, without knowing what other people pay for it?
= buying at fair value means, buying at a price you are setting yourself.
Price-Discovery is made Threshold TACo and homomorphic encryption
Challenges we ran into
As with every hackathons we had a bit of time constraints. Besides that, some of the technical challenges were related to getting all smart contract functions run smoothly. However, we managed to overcome our hurdles and managed to build a fully functioning hackathon project. Check it out here -> https://honest-auctions.vercel.app/
Tracks Applied (11)
Defi, NFTs & Gaming
Best NFT Project
Arbitrum
Build a Consumer Product
Base
Build a UI for a Sway Application
Fuel Labs
Build on Linea
Linea
Best NFT App with Phosphor
Linea
Unleash your creativity with MetaMask SDK
Linea
Cross-Chainify any dApp with Moonbeam
MoonBeam
Appchain development with the Polkadot SDK
Polkadot
Budl with TACo
Threshold
Fhenix - Build Dapps on ETH L2 using FHE
Fhenix
Cheer Project
Cheering for a project means supporting a project you like with as little as 0.0025 ETH. Right now, you can Cheer using ETH on Arbitrum, Optimism and Base.