DTender

Canva Presentation: https://www.canva.com/design/DAFeStj_tSw/0XjNlPShfmSFvDtkaViVbQ/view?utm_content=DAFeStj_tSw&utm_campaign=designshare&utm_medium=link2&utm_source=sharebutton

Polygon zkEVM Explorer: https://explorer.public.zkevm-test.net/address/0xCc4A6407B36120f21ff21d0F7Eef23DBEaD2A977

Polygon Mumbai Testnet: https://mumbai.polygonscan.com/address/0x53e9D85ddB0364509Fc773d3fb1007cd351B8d5A

Polybase Databases: https://explorer.testnet.polybase.xyz/collections/pk%2F0x08965f78c6a549905b66896f5a44b3a3ac27cdd9759057d534a0b9a5bcdf7cb9aa852288826e01a7034716a2f98252500a8e480a40a2be9b6a7cc1df2f4fd9f1%2FDTender%2FDTenderDynamicNFTMetadata https://explorer.testnet.polybase.xyz/collections/pk%2F0x08965f78c6a549905b66896f5a44b3a3ac27cdd9759057d534a0b9a5bcdf7cb9aa852288826e01a7034716a2f98252500a8e480a40a2be9b6a7cc1df2f4fd9f1%2FDTender%2FVerifiedCompany

Description

DTender is a decentralised tender-bidding system that levels the playing field and makes the bidding process transparent, automated and trustworthy. Verified (using polygon id)company owners can log on to the application and release tenders for people to bid on. The first person to bid the lowest amount at the end of deadline gets the amount that he bid for.

The Problem:

The need for a decentralized bidding system arises from the limitations of traditional centralized bidding systems. Here are a few reasons why decentralized bidding systems are becoming increasingly popular:

1. Lack of transparency: Centralized bidding systems can lack transparency, making it difficult for bidders to know if the bidding process is fair and equitable. This can lead to mistrust and discourage participation.
2. High fees and commissions: Centralized bidding systems often charge high fees and commissions, which can make it expensive for both buyers and sellers to participate in the bidding process.
3. Limited participation: Centralized bidding systems are often limited by geography and other barriers, which can limit participation and reduce the number of potential buyers or sellers.
4. Vulnerability to fraud: Centralized bidding systems can be vulnerable to fraud and manipulation, as they are controlled by a central authority that can be influenced or corrupted.
5. Lack of automation: Centralized bidding systems can be slow and inefficient, as they often require manual intervention to manage the bidding process.

Our Solution

Decentralized bidding systems address these issues by providing a transparent, secure, and efficient platform for buyers and sellers to participate in the bidding process. They eliminate the need for intermediaries, reduce costs, and enable more people to participate, which can lead to better prices and more efficient markets. Additionally, decentralized bidding systems are automated, eliminating the need for manual intervention, which can reduce the risk of errors and improve the speed and efficiency of the bidding process.

Decentralized bidding systems have several advantages, including:

1. Transparency: Decentralized bidding systems are built on blockchain technology, which provides a transparent and immutable record of all transactions. This ensures that all bidders have access to the same information and that the bidding process is fair and equitable.
2. Security: Decentralized bidding systems are highly secure, as they are protected by the cryptographic algorithms and consensus mechanisms of the underlying blockchain. This makes it virtually impossible for any party to manipulate the bidding process or compromise the integrity of the system.
3. Lower costs: Decentralized bidding systems can significantly reduce the costs associated with traditional centralized bidding systems. Since there is no need for intermediaries such as auction houses or brokers, the transaction fees and commissions can be much lower.
4. Increased efficiency: Decentralized bidding systems are automated and can run 24/7, allowing for faster and more efficient bidding processes. This reduces the time and resources required to manage the bidding process, allowing organizations to focus on other aspects of their business.
5. Increased participation: Decentralized bidding systems can enable more people to participate in the bidding process, as they are not limited by geography or other barriers. This can lead to increased competition and better prices for both buyers and sellers.

Overall, decentralized bidding systems can provide significant advantages over traditional centralized bidding systems, including greater transparency, security, lower costs, increased efficiency, and increased participation.

The project uses polygon id to verify companies, using company id, that are putting out tenders for others to bid, we use Polybase for Authentication, storing metadata of the dynamic NFT and storing the verified companies. The frontend is built using Next.js, The contracts are written in Solidity and the contract is deployed on the polygon zkEVM chain.