Introducing Cilistia: A Non-custodial, Decentralized Peer-to-Peer Exchange.

[marxdev]

Greetings, BitcoinTalk community!

I am excited to introduce Cilistia, a groundbreaking decentralized peer-to-peer exchange that is set to revolutionize the way we trade cryptocurrencies. With its unique features and commitment to user empowerment, Cilistia is poised to become a game-changer in the crypto landscape.

Revenue Sharing for Stakers:

One of the standout features of Cilistia is its commitment to fairness and community involvement. Cilistia distributes 70% of its revenue back to the platform's stakers. By staking $CIL tokens, users become active participants in the platform's success, receiving a share of the generated revenue proportional to their stake. This innovative model creates a rewarding and sustainable ecosystem for all users.

Multi-Chain Launch:

Cilistia is not limited to a single blockchain. Instead, it is launching on multiple chains, ensuring compatibility and accessibility across various networks.

Escrow-based Trade Confirmation:

To instil trust and ensure fair transactions, Cilistia implements an escrow system. Trades are held in escrow until both parties involved have confirmed the completion of the trade. This safeguard prevents any potential disputes or fraudulent activities, allowing for secure and reliable transactions.

Private End-to-End Encrypted Messaging:

Understanding the importance of privacy in the digital world, Cilistia offers users private end-to-end encrypted messaging. This feature enables secure communication between users, ensuring sensitive information remains confidential. Additionally, Cilistia employs PGP keys to further enhance the security of message exchanges, providing users with peace of mind.

No KYC Requirements:

Cilistia aims to make cryptocurrency trading accessible to all. As such, it supports bank wire transfers, enabling users to seamlessly connect traditional financial systems with the crypto world. Moreover, Cilistia recognizes the importance of privacy and respects user autonomy by not requiring any Know Your Customer (KYC) procedures.

Fraud Prevention through Staking Mechanism:

Cilistia has implemented a unique staking mechanism to prevent fraud and theft. Users are required to stake $CIL tokens for a specific period before they can initiate trades on the platform. By staking a certain value of $CIL tokens, users gain the ability to open orders for a predetermined amount of other currencies. This measure ensures a higher level of security and reduces the risk of malicious activities.

Join Cilistia and Embrace the Future of Crypto Trading:

With its revenue-sharing model, multi-chain support, smart contract security, escrow-based trade confirmation, private messaging, and staking-driven fraud prevention, Cilistia presents an all-inclusive platform that empowers its users and sets new standards for decentralized exchanges.

We invite you to join the Cilistia community and become part of this exciting journey towards a more transparent, secure, and rewarding crypto trading experience. Visit our website and explore the possibilities today!

Website: https://cilistia.com
Docs: https://docs.cilistia.com
Twitter: https://twitter.com/cilistiap2p
Discord: https://discord.gg/cilistia
Github: https://github.com/cilistia

Thank you for your attention, and we look forward to welcoming you to the Cilistia community!

[nioctib_100]

The site design looks terrific! Thoughts on the revenue sharing to the owners of CIL tokens making CIL considered a security in the US though? Do you plan to prohibit US users from accessing Cilistia? I suppose you can't really do that while also respecting the promise of user privacy. Perhaps Cilistia is registered and established somewhere outside of the domain of the US so it's pretty much out of the regulator's reach?

[joniboini]

Cilistia has implemented a unique staking mechanism to prevent fraud and theft. Users are required to stake $CIL tokens for a specific period before they can initiate trades on the platform. By staking a certain value of $CIL tokens, users gain the ability to open orders for a predetermined amount of other currencies. This measure ensures a higher level of security and reduces the risk of malicious activities.

How many tokens will be required for this? Are there no other options such as locking their BTC/ETH on a multi-sig address like what Bisq does to prevent scammers from making fake trades? I don't really find it appealing that I need to buy your token first before I can even use the platform. What would you do if the token price becomes more expensive then? Will you lower the requirement? I'd rather use a static requirement such as "30% of total trade deposit is required before you can make trades" if that is the case.

[marxdev]

Perhaps Cilistia is registered and established somewhere outside of the domain of the US so it's pretty much out of the regulator's reach?

Thank you for the compliment. You should see our tesnet. We have focused heavily on UI and UX. And yes we won't be blocking any countries from visiting the site as we are outside of the US.

[marxdev]

Cilistia has implemented a unique staking mechanism to prevent fraud and theft. Users are required to stake $CIL tokens for a specific period before they can initiate trades on the platform. By staking a certain value of $CIL tokens, users gain the ability to open orders for a predetermined amount of other currencies. This measure ensures a higher level of security and reduces the risk of malicious activities.

How many tokens will be required for this? Are there no other options such as locking their BTC/ETH on a multi-sig address like what Bisq does to prevent scammers from making fake trades? I don't really find it appealing that I need to buy your token first before I can even use the platform. What would you do if the token price becomes more expensive then? Will you lower the requirement? I'd rather use a static requirement such as "30% of total trade deposit is required before you can make trades" if that is the case.

Great question. Here is how it works:

1. User buys $10,000 worth of $CIL at a price of $1 per $CIL.
2. User stakes 10,000 $CIL.
3. User earns 70% of all revenue generated on the platform as long as his $CIL is staked
4. User can now open sell orders for other cryptocurrencies to the value of $5000 (50% of the staked $CIL balance)

If the price of $CIL drops to $0.50 then the users max trade amount is automatically updated to $2500. If the price goes up the max trade increases.
We do have a safe guard to prevent the price dropping below a certain amount. Its called the minimum price fund (MPF).
10% of all revenue generated is sent directly to the MPF and the MPF is triggered when the price of $CIL hits our minimum set price.
When the contract is triggered it will buy up and burn $CIL tokens from the market to maintain the minimum set price.

[Bitcoin_Arena]

Escrow-based Trade Confirmation:

To instil trust and ensure fair transactions, Cilistia implements an escrow system. Trades are held in escrow until both parties involved have confirmed the completion of the trade. This safeguard prevents any potential disputes or fraudulent activities, allowing for secure and reliable transactions.

I am interested in the Escrow part. Which party exactly acts as an escrow and how will the disputes be settled?


Also what attributes make the platform decentralized? Not requiring any user personal information before they can use the marketplace is no attribute of decentralization.

[joniboini]

4. User can now open sell orders for other cryptocurrencies to the value of $5000 (50% of the staked $CIL balance)

Okay, so 50% of the staked balance is what he can trade? Is this fixed or will you change it before your service go live? Personally, I'd rather use coins that I already own as a guarantee instead of buying your tokens. It takes a lot of confidence to buy new tokens in the first few months at least. On top of that, it also adds another layer of complexity unless you allow people to convert their coins/tokens to your CIL token automatically. If some volatility happens it would also affect my ability to trade.

Btw, is there no plan to support or add Bitcoin?

[marxdev]

4. User can now open sell orders for other cryptocurrencies to the value of $5000 (50% of the staked $CIL balance)

Okay, so 50% of the staked balance is what he can trade? Is this fixed or will you change it before your service go live? Personally, I'd rather use coins that I already own as a guarantee instead of buying your tokens. It takes a lot of confidence to buy new tokens in the first few months at least. On top of that, it also adds another layer of complexity unless you allow people to convert their coins/tokens to your CIL token automatically. If some volatility happens it would also affect my ability to trade.

Btw, is there no plan to support or add Bitcoin?

Vendors are the only ones required to purchase and stake $CIL tokens to initiate orders on the marketplace. If you're not a vendor and only wish to buy or sell cryptocurrency to one of the active vendors, you don't need to stake anything.

Once vendors have staked $CIL, they can deposit, trade and sell supported currencies such as WBTC, WETH, USDT, USDC, etc. Trading is not performed through the $CIL token. To become a vendor on Cilistia, a user must stake some $CIL tokens. After staking, they can deposit any supported currency and initiate trades up to 50% of their staked $CIL value.

For instance, if you stake $10,000 worth of $CIL on Cilistia, you can deposit WBTC, WETH, USDT or USDC and open trades up to $5000 as a vendor on the marketplace.