Burnt Banksy is an anonymous figure who made history in the NFT community with the burning of an authentic Banksy art work. This act received universal acclaim and was covered by leading publications such as Bloomberg, CoinDesk, GQ, CoinTelegraph, BBC, CBS, HYPEBEAST, Art.Net, and many others.
Burnt Finance is the first fully decentralized marketplace built on Solana.
Burnt allows users to take auctions into their own hands, enabling minting and trading of any asset in an entirely permissionless ecosystem. The platform can support auctions of synthetics, NFTs, digital assets, and much more.
Since Burnt is built on Solana, we are able to achieve unparalleled transaction speeds with negligible fees. All functions of the protocol are governed entirely by a decentralized network of stakeholders and community members.
Burnt Finance provides an intuitive user-friendly interface to run auctions of all types. Each auction pool includes on-chain functionality such as minting new assets and on-chain governance.
Burnt supports all major auction types in a decentralized setting.
Dutch Auction
In a Dutch auction, the price of an asset is set by the seller. This price continues to drop over given epochs. However, potential purchasers are able to place bids along the way and purchase the asset at those prices. For instance, a creator may begin an NFT Dutch auction at $100 and set the price to drop by $5 every hour. This means that the first purchaser may have bought the NFT at $100 while another purchaser may be able to buy the same NFT at $90 two hours later.
Bonding Curve