# GBM: A New Kind Of Auction

### Redefining Auctions

<figure><img src="/files/ybZmdl0Ib9eUkmnlVqto" alt=""><figcaption></figcaption></figure>

Traditional auction formats like English and Dutch auctions weren’t built for Web3. In a world of instant transactions and smart contracts, these legacy systems fall short - and it shows.

**Problems with legacy auctions:**

❌ **Front-running vulnerabilities** - exposing bidders to MEV and manipulation

❌ **Winner-takes-all outcomes** - discouraging broader participation

❌ **Poor price discovery** - capping seller upside

❌ **Unfulfilled bids** - causing delayed or failed settlements

❌ **High bidder regret** - reducing long-term engagement

❌ **Inefficient auction speed** - dragging out auctions unnecessarily

❌ **Low engagement and no gamification** - making auctions feel static and uninspiring

These outdated formats simply don’t align with the automated, transparent, and incentive-driven dynamics of Web3.

### Enter GBM

That’s why we created GBM - a Web3 native auction protocol that fixes the flaws of old models.\
\
**What makes GBM different:**

✅ **No front-running** - each new bid must reference the hash of the previous highest bid

✅ **Not winner-takes-all** - all bidders are rewarded when outbid

✅ **Superior price discovery** - incentives drive more competition without forced price caps

✅ **No failed settlements** - all bids are fully funded the moment they’re placed

✅ **Less bidder regret** - rewards soften the emotional cost of not winning

✅ **Greater efficiency** - bidders are encouraged to show their true price early

✅ **More engaging** - gamified mechanics make auctions more dynamic, interactive, and fun

GBM auctions aren’t just fairer, they’re smarter. This is what Web3 auctions should feel like.


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