Bitcoin Forum

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Is there any official video review for this project available?

Through which cryptocoins can i buy the tokens of this project?

is there any more complete information, how investors want to buy PLEX information is very minimal and less comprehensive

What is the project?

There's a few floating around on YouTube but most aren't in English. We're working on getting some video reviews of our project done though!

Here it is mentioned that one Ether is 5000 Plex. Are you accepting any other cryptocurrencies?

ETH is the easiest method as you just send it to our smart-contract. If someone wanted to purchase PLEX tokens using another crypto, we would be able to facilitate that privately. Contact us and we sort out payment in another crypto if needed

When your token be listed on the exchange?

What stage of the sales are we in right now? Pre-sales or ICO?

Where can i find legitimate ICO ratings for this project?

PLEX will be officially listed on exchanges from the end of our ICO which is in August. Expect exchange listings from September onwards :)

Thats a very good news. Have you made any contacts with the exchanges yet?

If you're referring to how investors can purchase PLEX, instructions can be found by visiting https://storeplex.io and clicking "Buy Tokens"

Legitimate ICO ratings can be found here (https://foundico.com/ico/storeplex.html) and here (https://www.coinschedule.com/ico/plex#event4231).

We are currently in the Pre-ICO stage.

What is the difference between ICO and the Pre-ICO prices?

The Pre-ICO offers a heavily discounted rate for investors, due to them being early contributors. The rates are as follows:

Pre-ICO
1 ETH = 5,000 PLEX

ICO
1 ETH = 1,600 PLEX

Can you give examples of other similar blockchain projects that have been executed in past and how is your project going to be different?

That is quite a lot of difference between the two stages. How many tokens have you planned to sell for both the stages?

There's a large difference because we really want to reward early investors for believing in our project. There are 10,000,000 (10 million) tokens available during the Pre-ICO and 40,000,000 (40 million) tokens available during the main ICO.

Is there any current running airdrop for this proejct? or any bounty program?

I do not know about any current airdrop. But they had a very good 5 phase airdrop few weeks back. Participants got a chance to win as big as 200 USD if they participated in first phase. Very transparent ones as the spreadsheets were shared immediately.

Our planned airdrops are now over, however there is a bounty program you can participate in here: https://storeplex.io/bounties.html

I had a very specific question in mind about your airdrops. Almost 90 percent of the airdrops, they will have less per partcipant reward and higher number of total participants so that they have more followers on social media. But in your case, the reward value was as high as 200 USD to 75 USD and less number of participants. So what was the whole idea behind it?

This project is very good I think, although in the announcement a lot of information is lacking. but after I see the sites. that's where I get a lot of information about this project is very useful, hopefully you plan a bounty program for us.

it seems there will be no bounty program that will be run by this project.

because I see, this project has been neatly arranged and it seems also have many private investors who jumped on this project.

I have a question. Will the buyers and sellers directly trade with each other on the platform of storeplex or will storeplex act as an intermediary like ebay, amazon?

There is a bounty program, the form can be found at https://storeplex.io/bounties.html

The buyers and the sellers interact with each other via the smart-contract (the blockchain) and not Storeplex personally. We will only involve ourselves when disputes arise.

Can you describe some of the features that marketplace will have for buyers and sellers?

Buyers can purchase a variety of products and receive 3% cashback on all purchases made using PLEX tokens and sellers can use PLEX tokens to upgrade their account in addition to the extremely low fees.

If based on your platform comparison table with an existing marketplace, of course there are more advantages in storeplex. Especially on the costs of storeplex freeing fees such as insertion and processing fees. On the other hand, storeplex certainly requires operational costs, how to solve it while the costs that should be charged to cover operational expenses are already free?
Btw, looking at storeplex marketplace, http://marketplace.storeplex.io/index.html it seems not fully working yet right?

The marketplace is fully functional, you need MetaMask installed. The instructions on how to use it can be found at the beginning of this thread.

And with regards to the operational costs, those will be covered by the 1% processing fee charged on transactions that do not use PLEX (i.e. Bitcoin, Ether, Litecoin, etc.). The marketplace has not been designed to make a centralised company profit. It has however been designed to raise enough funds to cover the operational costs.

Is this worldwide marketplace? Or some regions may be restricted for the use?

Where can we find link of the social profiles of the team members

Also, if you can tell whether buyers and sellers will place orders directly to each other or on the storeplex?

The orders are placed on the Storeplex marketplace where they are then despatched/fulfilled by the seller.

So, if there is any dispute between the buyers and sellers, how is that going to be resolved?

Dispute as in if the buyer is not satisfied with the quality of the product!

If a dispute arises, the funds in the smart-contract are sent to an escrow address where Storeplex are able to arbitrate over the issue and disperse funds appropriately.

The buyers and the sellers interact with each other via the smart-contract (the blockchain) and not Storeplex personally. We will only involve ourselves when disputes arise.
[/quote]

Can you describe some of the features that marketplace will have for buyers and sellers?
[/quote]

Buyers can purchase a variety of products and receive 3% cashback on all purchases made using PLEX tokens and sellers can use PLEX tokens to upgrade their account in addition to the extremely low fees.
[/quote]

Also, if you can tell whether buyers and sellers will place
 orders directly to each other or on the storeplex?
[/quote]

The orders are placed on the Storeplex marketplace where they are then despatched/fulfilled by the seller.
[/quote]

So, if there is any dispute between the buyers and sellers, how is that going to be resolved?
[/quote]

Dispute as in if the buyer is not satisfied with the quality of the product!
[/quote]

If a dispute arises, the funds in the smart-contract are sent to an escrow address where Storeplex are able to arbitrate over the issue and disperse funds appropriately.
[/quote]

If the buyer has to send back the product, will he/ she bear the freight charges?

Why would someone shop online? Low prices and comfort obviously
Because online retail stores, online stores do not have to pay rent, salaries to staff and miscellaneous admin expenses
I hope storeplex will bring new ideas as well. Cant wait to pay for daily stuff using crypto

Can we have the whitepaper please?

Its available at their website :) Here is the link: https://storeplex.io/documents/Storeplex-Whitepaper.pdf

If the return is the fault of the seller (i.e. inaccurate description, wrong product etc.) then the seller will be expected to compensate the buyer for return shipping costs. If they fail to do so, Storeplex will reimburse the buyer and limit the seller’s account until repayment has been made. The debt will be burdened on to Storeplex and not the buyer.

Our intention was to liquidate the tokens and distribute 1% of them. This helps the ecosystem by enabling exchange trades and activity on the marketplace.

Yeah i got the point. But dont you think, storeplex should keep some security amount from the sellers before they are allowed to list their products?

Yeah, i got that point. But there are now two ways of doing it. Low price per airdrop & have large number of participants and high price per airdrop & have low number of participants.

Way 1: Opted by those who need more participants may be because they dont believe that enough sales will come
Way 2: Developers have faith in their product and know that they will reach their targets. They want to give benefits of good value to the people who joined earlier. This speaks about their own faith in the product.

This adds unnecessary obstacles for sellers, and some may not be able to afford a security deposit. However, selling limits will be imposed on new accounts to prevent misuse of the marketplace.

Yeah that is also true. Anyways if the seller is not willing to pay the freight charges, the buyer may not return it as still the money is with the storeplex and not given to seller. So, i see no issues.

projects that take advantage of buying and selling with blockchain, many people who think bad about buying and selling online, how to fix your name online and how do you lure buy buy and sell online?

I guess not all the products are cheaper. There might be some rare products which can be found online and they will be costly eg antiques.

I want to ask, what is your opinion about online buying and selling fraud, which causes the bad name of buying and selling online? then how do you develop your online buying and selling business so interesting to visit? thanks.

Is it possible to mine your coins?

Low prices and comfort is fine. But i hope storeplex has a system in place to check the background of the sellers.

We have methods to collect the debt from sellers, so none of this burden will be on the buyers.

Ecommerce does indeed have a reputation for fraudulent activity, but we hope to reassure any doubts with our fraud-proof smart-contracts. It is impossible for a seller to defraud a buyer in the same way that occurs on other platforms, like eBay and Amazon.

We believe that a lot of the fraud that is committed on marketplaces, such as eBay and Amazon, is completely avoidable. This is because chargebacks can be initiated from third-parties like PayPal, which will return the funds to a buyer more often than not, which leaves sellers without their item and without their money. We have also implemented a verification system which will visually display next to the seller’s name. This means that Storeplex have verified the seller’s identity and the seller has successfully completed 10 or more transactions. This will help to give reassurance to buyers.

Unfortunately, PLEX tokens cannot be mined. They can only be minted during the Pre-ICO and ICO.

New sellers will be limited on their selling activity until they conduct numerous successful transactions. There’s also a verification system whereby sellers can provide ID and documents to receive a “verified badge” next to their name which gives confidence to potential buyers.

Is this a security token or a utility token?

It's a utility token

Will you include the buyer reviews for the sellers?

Yes, there is a rate button on each transaction where the buyer can give the seller ratings on three areas: the accuracy of their description, their communication skills, and the despatch time of the product/service. These ratings are transferrable onto other mediums as it uses blockchain technology.

If the item you are purchasing is legal in your jurisdiction, then yes it is absolutely possible. One of the advantages to online shopping is the unrivalled variety that cannot be found from ordinary shops. Also, our marketplace solely accepts cryptocurrencies. It is very unlikely that a shop will accept cryptocurrency payments.

This would be a very good feature. We can get to know about the reputation of the buyers from these ratings as well. Like in search of Airbnb, if we do not have many reviews or a lot of negative reviews, this leads to bad reputation of that particular property.

The marketplace will display the user's average rating. So one-time negative reviews will not detriment a seller, espeically if it was an unfair rating. But if a seller consistently receives bad ratings, the average will decrease, which indicates to buyers that the seller does not have a good reputation.

Yeah true that. Its always the average rating, that gives us the fair idea of the reputation of the seller.

How do you plan to handle the complains of both the parties?

Will the marketplace show the products cost in USD/ GBP or Plex tokens? Sorry if this has been asked earlier.

Looking at their MVP, the prices are quoted in USD. Now I do not now whether it will be local currencies for other countries, but definitely not in plex i guess.

If buyers have a complaint with a transaction, they can start a dispute in the resolution centre and if sellers have a complaint, they can contact Storeplex via email.

The marketplace has several currencies to display prices in. These range from local currencies to cryptocurrencies. It’s purely down to user preference. All payments will still be in cryptocurrency though.

PLEX will be one of the currencies on the marketplace that users can display prices in and purchase goods or services with.

I guess my bad then. So there will be real time conversion of prices into plex tokens based on the price of plex tokens on the exchange. Right?

That is correct. The displayed price will be a real-time conversion.

How much sales have you reached?

In order to promote plex tokens, will you buyers some benefit so that they make payment through plex tokens?

Is there any minimum investment for this proejct?

Will the website be available in different regional languages?

Have you made any contacts with exchanges to list the tokens?

If buyers and sellers are registering for free and trading free, how is storeplex going to maintain the operating and maintenance costs in the future?

For all transactions made using PLEX, the buyer will receive 3% cashback and the seller will not be charged any processing fees. This will encourage users on the platform to use PLEX instead of BTC, ETH, LTC etc.

Unfortunately, there are no plans to directly translate the website into different languages as Google provides a satisfactory service. However, the white paper and other important documents will be translated in due course.

We have contacted ForkDelta and other smaller exchanges in an attempt to have PLEX listed quickly after the ICO.

Storeplex will take a 1% processing fee from transactions on the marketplace that are made using other supported payment methods (BTC, ETH, LTC etc.)

What is the transaction fees for transferring plex tokens?

How many tokens have you created for the project?

But do you think this will be sufficient to manage all the expenses? We are already paying cash back as well on plex tokens, so many buyers will not opt for other payments.

Any particular reason that you are not going for bigger exchanges?

I guess the main reason no one commits big names in the beginning is that these big exchanges require huge funds to list. And right now till they have not raised that much amount of funds, its better to stick with smaller and good exchanges.

PLEX tokens can be transferred between wallets by simply paying the gas fee that the Ethereum blockchain requires.

There is a total maximum supply of 100,000,00 (100 million) PLEX tokens.

Our market research shows that Bitcoin will be one of the most prominent cryptocurrencies used on the marketplace. This indicates that the fees from Bitcoin transactions alone should be enough to cover server and staff costs for the marketplace. And the cashback scheme uses pre-allocated tokens.

As salonilibra explains, large exchanges require a lot of funding in addition to a minimum market cap. We have ambitions of being listed on larger exchanges, just not right now.

And what is the circulating supply?

But I always prefer using stellar, Nano or Neo/Gas because of the high transaction speed and low transaction fees. Yeah but thats very true, most of people prefer doing transactions using BTC.

It's now working right now! I've just tried to find something there, but there is nithing. It just couple of pages.

This is no the 1st market place run on the blockchain guy, have nothing against this ICO / project, but saying the 1st isn't fair enough & kinda misleading.

I can list couple of those ones, but this isn't appropriate, its better stay professional & not use this " 1st " kind of terms just to attract users's attentions.

Good luck with sales guys, not a bad project though.

When we say 1st, we mean that we're the first to actually have a marketplace running on the blockchain. We're not the first e-commerce marketplace ICO, but we're the only one with a functioning MVP which is on the Ethereum blockchain and uses smart-contracts right now.

If we're wrong, we'd love to hear of another project which actually has a fully working marketplace on the blockchain. Not just a demo, but actually using the blockchain.

What problem are you running into? The marketplace is up and running and is live right now. You can view listings, make purchases, create listings etc. You have to use MetaMask if you want to interact with the marketplace, but you can still view listings etc.

Yeah I believe thats true. I guess coinmarket also has a minimum trading volume to be listed there.

Can we execute this project without the blockchain?

But then decentralisation and all the key benefits associated to it wont be possible.

Yeah, but centralised systems do also exist till date!

Why do you want a system that is controlled and run by a single company, government or individual? Decentralisation reduces the security risk tremendously as compared to traditional systems.

?????

Where is u whitepaper? Caan't find it...

The current circulating supply is 50,016,422 PLEX.

The white paper can be found here (http://storeplex.io/documents/Storeplex-Whitepaper.pdf).

We are not the first marketplace project that promises to be on the blockchain. But we are the first marketplace project to actually have a functioning marketplace integrated into the blockchain.

What is the price per token during the pre-sale and ICO?

Well that i completely agree with. Decentralisation has its own benefits.

With the current price of ETH, 1 PLEX = ~$0.09

Yup. Without blockchain, not just storeplex, but a lot of other projects will lose their uniqueness!

Why do you say ICO? There is a difference between coin and a token.

Can you please share the link for same? I could not find it in the FAQ section of coinmarket.

Haha. even i couldnt find it now. The requirements mentioned in the FAQ section are pretty straight forward. Actually, I read it somewhere in one of the telegram groups.

Is it? I thought both are used interchangeably.

NO. refer to this. A coin operates independently, while a token depends upon another cryptocurrency as a platform to operate. So plex is a token as it will operate on Eth platform.

Thank you so much for clearing that up.

How many plex per Eth during the ITO?

1 ETH = 5,000 PLEX at the current Pre-ICO rate

Any date when the pre-ico will end and when the main sale will start?

The world of crypto currency is developing so rapidly that it is necessary to act here and now.

Anytime. There are many other parameters for difference between a coin and a token. Just told you the most basic one.  :)

What exactly is a smart contract?

The Pre-ICO will end in 7 days and the main ICO dates are to be announced.

A smart-contract is a precompiled contract (or code) that cannot be altered on the blockchain. It is very useful for many applications, such as a marketplace.

So, in this project whether the buyer and seller will agree and sign on the smart contract?

Have you decided on the ICO prices yet?

Haha that happens. But till the time you do not find a reference link to verify it, do not believe.

Yes, both the buyer and the seller will have to interact with the smart-contract to complete the transaction.

The ICO prices have also been confirmed (1 ETH = 1,600 PLEX)

There's only 3 days left of the Storeplex Pre-ICO! Don't miss your chance to get PLEX at our BEST RATE: 1 ETH = 5000 PLEX!

For more information and to purchase PLEX tokens to support Ethereum's answer to eBay, visit https://storeplex.io!

So almost a 70 percent discount if we buy right now. Thats a huge difference.

What are the dates for the ICO and the listing?

I still did not get the link. LOL

The main ICO dates are to be announced within the next few months.

How was the response in pre-ico?