Play BiG, Win BiG!

BiG Deal is an online blockchain based decentralized platform with a focus to OFFER AMAZING DEALS TO IT’S COMMUNITY.

On BiG Deal platform one can participate and win

• Real Products
• Digital assets
• NFT’s
• Experiences
• Services

BiG Deal platform can also be used to launch your own tokens using Dutch Auction (as popularized by Google and Algorand).

All in all, the core objective of BiG Deal platform is to offer amazing deals to its participants - hence the name "BiG Deal".

$AUX is the underlying token of BiG Deal platform. It is powered by the BASE blockchain. Its price will be determined by market forces. $AUX tokens can be purchased over exchanges and liquidity pools. PLAYs are used for placing bids on the item that you want to purchase. The price of a PLAY is predetermined and will be between $0.10 and $0.40 (USD). PLAYs can be purchased on BiG Deal platform with the help of $AUX tokens. A bid can be of one or more PLAYs. The number of PLAYs that a “bid” comprises will change according to the product value and definition.

BigDeal is powered by AuctionX. With the intention of fully decentralizing BiG Deal platform, we want to dilute the dependency on the largest single point of failure (the team) and create a democratized model that can evolve in entirely new ways and will always ensure the best intentions and actions for the platform. BiG Deal decentralized governance system will replace the administrator system with community governance, allowing the governing body members to suggest, debate, and implement changes to the platform. Governors will have to stake their $AUX tokens to get voting power. Voting power is equal to the number of $AUX tokens staked.

Gambling has never rested comfortably in most parts of the world. But to get a clear picture, it is important to understand the extent of gambling. Most of the governments employ a “dominance factor” in their definition of gambling. This dominance factor determines the amount of skill (legal act) and luck (illegal gambling) involved to differentiate between the two.

Let us understand this with the help of an example. We consider 2 very popular games: Roulette and Poker (Texas Hold’em). While a lot of skill is required to play Poker (Texas Hold’em), Roulette is purely based on luck. Poker involves manipulating the expectations of the other players relative to your own expectations about uncertain outcomes. So through experience, training, and mental prowess, some players would grow to be better at this than others. This is not the case with Roulette. Here, the chances of winning depend purely on luck and can never be statistically or mathematically predetermined. Hence, winning in Poker requires skill, and winning a round of Roulette requires luck.

The same is with Big Deal. All of the auction models that are present on BiG Deal platform are skill dominant, i.e., these are not considered a game of chance/luck. Skill dominates BiG Deal model. Hence BiG Deal is NOT GAMBLING.

However, please note that we are open to having a few auction/bidding models wherein chance is dominant(rather than skill). This is purely because of market and participant demands for BiG Deal platform. Whenever this happens, BiG Deal will always get the requisite licenses, clear all compliances and make sure we follow all laws of the land. Whether BiG Deal falls under gambling or not - is also a function of the local laws of the participants. As a business entity BiG Deal will have all the legally required licenses to conduct all sort of auctions and lottery events.

There is a lot of fairness in the Dutch auctions. The company decides the number of shares or products that it wants to sell and the market determines the price at which it could be sold or bought. The company sets a reserve price and initial price on the product. For example, let us say that a handbag manufacturing company wants to sell 500 bags. It sets the reserve price of 1 bag as $1 and the initial price as $10.

When the bidding starts, the reserve price is not made public. None of the bidders know the reserve price set by the company for the bag. The initial price is reflected. As the auction starts, the initial price of the product keeps decreasing periodically until all the products (bags in this case) are sold. If there are three buyers bidding for the bags.

Auction starts with $10 for each bag
Alice: commits $250 || $10 for 1 bag => 25 bags => number of bags left to sell = 475
Bob: no bids
Carl: no bids

Price drops to $5 in equal time intervals with each drop of 1$
Alice: has already committed $250, but since Bob now bids at the rate of $5, Alice will get a total of 50 bags
Bob: committed 150$ || $5 for each bag => 30 bags => number of bags left to sell = 500-50-30 = 420
Carl: no bids

Price drops to $2 in equal time intervals with each drop of 1$
Alice: has already committed $250, but since Carl now bids at the rate of $2, Alice will get a total of 125 bags
Bob: has already committed $150, but since Carl now bids at the rate of $2, Bob will get a total of 75 bags
Carl: committed 600$ || $2 for each bag => 300 bags => number of bags left to sell = 500-125-75-300 = 0
Since the supply of bags to be sold is finished, the auction will end. Alice, Bob and Carl will all get the bags at the rate of $2 which is between the reserve price ($1) and the initial price ($10).

To participate all you need is PLAYs. Incase you not have PLAYs they can e converted from $AUX tokens on our platform. Please note that we might also support getting PLAYs by submitting other tokens like ETH, BTC, USDT etc.

BiG Deal is powered by AuctionX. AuctionX supports multiple chains. Though the smart contracts are authored in ERC20 - based on BASE (powered by Coinbase), the bidder can avail $AUX tokens using multiple tokens from different blockchains - namely Ethereum, Solana, Polygon and Binance Smart Chain. The objective of supporting multiple chains is to reduce dependency on a single chain. Also it increases versatility and applicability since a lot of people around the world will be more comfortable with BSC or ETH or other chains. BiG Deal, being a consumer driven platform, should be easily utilizable by as many people as possible.

Each engagement activity at BiG Deal has been conceptualized to as to maximize the winning/earning probability for its participants and community members. The unique Win-Win-Win model - which is applicable for most of the engagements at BiG Deal - ensures

• Win for the winner
• Win for the house (BiG Deal)
• Win for the non-winners

In most of the auctions at BiG Deals - the non-winners get a fair chance to square off their losses. If excercised there will be ZERO loss to the non-winning participant.

BidBots can automate bids for a participant. Let the system run the show for you. This makes sure that - you don't forget to bid due to other distractions. Meticulous rules can be set and configured for the BidBots. The bidding never stops!!