🛒 Honest Auctions
NFT Auctions with fair-value price discovery through homomorphic encryption
About
The problem it 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
How it's made
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/