The Grapevine Exchange Protocol

Token Changer is a blockchain platform that is designed to support many exchange protocols. There are quite a few interesting exchange protocols we have on our product roadmap, however we have decided to power our launch applications using the Grapevine Protocol because it is profound and game changing.

What is the Grapevine Protocol?

The Grapevine exchange protocol is a set of rules and processes that defines the buying and selling of tokens (ethereum ECR20) using referral marketing. The diagram below illustrates a high level view of the protocol.

Grapevine in Detail

Token price is set in ether (ETH)

Token buyers need the ethereum address of a registered promoter to buy tokens.

Token buyers receive purchased tokens once the transaction is completed.

Sellers (aka campaign managers) can add and remove unsold tokens from the order book at any time.

Sellers set and update token price.

Sellers can register tier one promoters.

The ethereum address of a tier one promoter can be used by anybody to register as a token promoter.

The seller’s ether revenue can be remitted during token purchase or held until the buyer exchanges the token for goods or services.

Promoters can withdraw aggregate commission (ether) from the contract at anytime.

Grapevine Applications

We currently have two applications on the Ropsten Testnet that have been built using Grapevine. An ICO Presale application and a Flash Sale application.