What is Ethconomy.ioEthconomy.io is an OTC marketplace between retailer giftcards and ETH (and other tokens), where buyers of giftcards can buy discounted giftcards using crypto, and sellers of giftcards can buy crypto anonymously using giftcards (while paying a premium for privacy or ease of access in regions without reliable fiat -> crypto gateways).
How it WorksA good way to earn money is to save on irreducible every day expenses such as food, groceries, consumer goods, etc.
This is what we set out to do with Ethconomy.io, a platform that allows you to cover everyday expenses using crypto at a discount.
For example, you can purchase Amazon gift cards with up to 30% discount, which can then be used to buy groceries, food deliveries, consumer products, and giftcards to other stores/services.
Here are the steps:
- 1. When you visit the app at https://app.ethconomy.io/, you will be prompt to connect to your Ethereum wallet if it did not auto connect.
- 2. Once you are connected, you can select from the list of available giftcards from different retailers and place a purchase.
- 3. Fund of the purchase will be safely kept in the escrow contract, and will released upon refill or return upon cancel.
- 4. Orders will be filled within 24hrs of purchase, and delivered via email.
Why it WorksWe are advocates for the privacy of personal online data, and looks to explore the potential and power of cryptocurrency as a payment method.
There are two roles in the world of Ethconomy:
Consumers are people looking to spend their crypto to purchase for giftcards. They can place orders from retailers on Ethconomy using crypto at a discounted price.
Brokers are people looking to purchase crypto. Once a consumer order is placed, it is settled by a network of brokers who fulfill orders on behave of consumers in exchange for cryptocurrency. They benefit from receiving crypto anonymously by paying a slight premium. At the early stage the Ethconomy team will act as an aggregator for brokers (i.e pre-ordering cards from brokers in bulk and fill orders on-demand) to ensure speedy fulfillment.
Technical DetailsThe platform is ran on the Ethereum blockchain in the form of a dapp and all transactions occurs on smart contracts (complete open sourced contract code can be found at
https://etherscan.io/address/0xbea8bcb843ccd1d17ff4b4a4b0850ad5de3607d3#code). Consumers can directly access the dapp using wallets such as Metamask, Trust, or Coinbase wallet without having to create an account or sharing any personal information.
Avoiding FraudTo avoid transaction of fraudulently purchased cards (e.g giftcards purchased by stolen credit cards), only cards purchased by cash with corresponding cash receipts will be served on the platform.
Visit our site at
https://ethconomy.io/Or go straight to the app at
http://app.ethconomy.io/
