CAP Marketplace Release — July 26, 2018
The quazi-decentralized marketplace is now a little over one week away from completion. It’s been a hard grind, but we are finally approaching the finish line for initial release.
In this article, we’ll be discussing how the verified seller program, moderator elections and coin voting will operate. Additionally, we’ll be taking a look at potential marketing strategies that can be implemented to help spread the word beyond the realm of our Discord and QQ groups.
Moderator Appointments/Elections
A 2 tier voting system has been setup to elect moderators to help manage CapBay. These middlemen have been put in place to report prohibited items, resolve disputes and act as emergency escrows.
Anyone interested in becoming a marketplace moderator must submit their application via the voting page. The first election cycle will take place on release of the marketplace and is planned to last for 2 weeks. In total, the 3 moderators with the most votes will be elected. In order to vote, a user must created an account and have verified it by email.
The fixed income of a moderator is 1000 CAP monthly. On top of this, monthly feedback points earned, also translates to bonus CAP points that can be redeemed for coins.
*Please note that being the role of Discord moderator does not automatically assign a user to management of the marketplace
Coin Voting
One way in which the CAP marketplace is bound to attract attention is through the coin voting system. The marketplace is compatible with every type of cryptocurrency and is capable of supporting an unlimited amount.
For the first round of voting, we will be partnering with 3 different cryptos. A follow up article will be posted upon release, detailing the coin addition process in full.
Verified Seller Program [The CAPOMERATE]
Becoming a verified seller gives you access to a variety of perks. One such advantage is having all relevant items listed above normal seller items, regardless of filters applied. Every verified seller is also able to setup their own store page, which contains all of their listed items and a summary of their business. To become a verified seller, you must PM Leon on QQ, or Capital on Discord.
Not every applicant is accepted because it should remain a privileged group that only legitimate businesses are entitled to. In the reviewing stage, we will be looking for some evidence that the seller is running an E-Commerce store or/and real life business.
Conclusion
Most of the core features will be available on initial release. The 1000+ Chinese QQ community will provide a strong backbone for trading volume over the first couple of weeks. The added advantages of a cryptocurrency payment gateway, in combination with our efficient resolution process will help in magnifying any kind of ripple effect from our communities buying activity.
Upon release another Medium article will be published, detailing marketing competitions to spread the word of capbay beyond the scope of just our social media groups.
