Burnt Finance is the first fully decentralized auction protocol built on Solana.
Burnt Finance is a fully decentralized auction protocol built on Solana. Burnt Finance is a DeFi protocol that enables anyone to mint a diverse array of synthetics and NFTs while also providing them with an unparalleled auction platform.
Burnt is powered by the Burnt Token (BURNT) which handles governance procedures while also offering fee reductions on the platform for new creators.
All users are given unrestricted access to host a diverse array of auctions.
Burnt is able to accommodate most major auction types ranging from English to Dutch. Additionally, users will be able to mint a diverse set of synthetic assets as well as NFTs.
The platform can process 50,000 transactions/ second within a 400ms block time, allowing for a truly fast bidding process that significantly reduces the opportunity for bid manipulation. Average transaction fees are ~$0.00005, which removes friction from gas fees.
Given the unparalleled combination of decentralization, lightning speed, and low fees, Burnt Finance is bringing forth a new paradigm shift in the world of decentralized finance.