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.
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.
BURNT is a non-refundable functional utility token which will be used as the medium of exchange between participants on the Burnt Finance platform. The goal of introducing BURNT is to provide a convenient and secure mode of payment and settlement between participants who interact within the ecosystem on the Burnt Finance platform, and it is not, and not intended to be, a medium of exchange accepted by the public (or a section of the public) as payment for goods or services or for the discharge of a debt; nor is it designed or intended to be used by any person as payment for any goods or services whatsoever that are not exclusively provided by the issuer.
BURNT does not in any way represent any shareholding, participation, right, title, or interest in the Company, the Distributor, their respective affiliates, or any other company, enterprise or undertaking, nor will BURNT entitle token holders to any promise of fees, dividends, revenue, profits or investment returns, and are not intended to constitute securities in Singapore or any relevant jurisdiction. BURNT may only be utilized on the Burnt Finance platform, and ownership of BURNT carries no rights, express or implied, other than the right to use BURNT as a means to enable usage of and interaction within the Burnt Finance platform.
Burnt Finance has raised $3 million for a decentralized auction protocol built on the Solana blockchain. That round was led by led by Multicoin and Alameda Research and was incubated by Injective Labs, the core contributors to the multi-chain network Injective Protocol.
Burnt Finance has also raised an $8M Series A round led by Animoca Brands, which develops and publishes a broad portfolio of blockchain games, traditional games, and other products. Also participating was Multicoin Capital, Alameda Research, DeFiance, Valor Capital Group, Figment, Spartan Capital, Tribe Capital, Play Ventures, HashKey, Mechanism Capital, DeFi Alliance, Terra, and others.
Burnt Finance Investment Rounds