Good Morning
Great Progress is being made
Update and more details on features
POS Masternodes are close to being finished it can be released within 48 hours but it will be released on Tuesday alongside the Ultimate Marketplace on Clearnet followed by Darknet Marketplace
I am getting some messages on more details for the marketplace so will provide a brief description of how it works and why we believe this will revolutionize Marketplaces online
Agents
To become a agent you'l need to have 250 UTLE Coins (Escrow Coins)
Role of agent
a arbitrator/guarantor for a sale on marketplace
Moderate listing which breach rules
Answer Site Users queries
Waiting patiently for tomorrows update from dev, from then the only way for this coin will be up
In return agents will be paid 3.75% of the 5% fee of every sale so $100 sale each agent receives 1.25% = $1.25
there will be 3 agents on any one transaction so if a dispute is escalated three agents will decide unanimously the outcome.
as payment will be in escrow it can be released early by requesting agents to release it
if they cannot decide, a additional agent can be requested and fees will be divided accordingly
Now of course it can be argued that by having a open registration and just requirement of 250 coins this can lead to scams but these coins are escrowed and a agent cannot withdraw them until all cases have been resolved. There should be no active cases pending decision on their account and with a 24hour waiting time to process withdrawal.
The fee is paid regardless if there is a dispute for the transaction or even if the transaction is a success. This will encourage to weed out the scams so eventually legitimate problems are resolved as who doesn't like free money.
how it works (summary)
seller list item with option where they give buyer 10 agents to select from of which 3 need to be selected
buyer can choose whoever they like so if a seller selects agents with poor feedback then less likely it will be sold.
payment is made if there is a dispute it will be escalated to agents which will decide. if its a smooth transaction happy days agents receive there fee for no work at all.
agents with good feedback will be selected by buyers so a smooth transaction puts 1.25% in your pocket for doing nothing.
Now Why?
We believe this will change online selling massively. rather than making it easy for someone to create a marketplace for themselves buyers/sellers require only one thing from a marketplace is security for their transaction to trade easily and to be able to get fair solutions to problems.
Anyone who has traded on amazon/Ebay must be aware of how they make decisions with their business in mind. Any decision made is in interest of their profits so many times buyers and sellers are out of pocket as the law is used to assess the case which is taken advantage of. Offering agents to solve problems give solutions common sense so no scammer can use law and tricks which leave organizations with their hands tied to give in.
This is why a community run marketplace is the future and to ensure agents are not playing up safeguards are in place so any agents attempting to scam incur losses. The promise of great earnings for agents ensures they do their job properly
This is our vision and rather than we run it ourselves we let you take part and have a slice.
Now if many got bored reading this we will have graphics up when we release the marketplace to explain it better the fun way.
We hope to start beta testing saturday before its released next week
Waiting patiently for the update of dev tomorrow, the only way will be up for this coin
