Props Integration Features, Benefits, and Product Update
An update on all the progress and planned features + benefits as we work to get Props integrated into Listia and then Replin.
Hi everyone! It has been about a month since we announced our partnership with Props and things have been moving very quickly on the product and development front. Props has been making waves in some other apps recently as well, which is great news for the network! They also recently passed 1.7M unique token users.
The team is currently working on wrapping up some of the back-end changes to support the new rewards system and a lot of work has been completed on the web front-end, Android and iOS apps now as well. The next piece is building all the great ways for users to earn and use their new Props balances. After Listia is done, we will be integrating Props into Replin as well and already have a number of great ideas to boost usage and engagement there. Our early adopters on that platform have always wanted a way to help grow the concept of true p2p commerce without a middleman.
Here is a quick rundown on the benefits we plan to have on Listia at launch and a few notes on what the future will look like as we work together with Props to build the world’s first large-scale consumer token economy.
Updates on Earning Props
- (updated with product launch details)
- Our entire existing user base and community will be able to get and use Props at launch.
- All current users may get Props deposited into their account based on previous activity, positive buying and selling reputation, length of account, engagement, etc. as a reward for continuing loyalty within the platform. This will jump start everyone’s balance so they can start experiencing the benefits right away. In general, the more you used and contributed to Listia in the past, the more Props you will have.
- All existing XNK store credit within Listia will become a new stable in-app currency, called Listia Points, and can still be used to buy anything on Listia.
- Anyone with a withdraw-able XNK balance or an outside XNK wallet will be able to continue using their balance to purchase items in the marketplace or choose to roll it into their new Props status level at a rate of 1 Prop per 76 XNK in the Listia app.
- Any future Props withdrawals from this point forward will go through the normal Props withdrawal process, including KYC and other checks.
- At launch, we will also be releasing our newly upgraded rewards store and gift card shop as a much requested feature by our power sellers.
You can Earn More Props as follows:
- Sellers who successfully sell something and then receive positive feedback will earn some Props for each sale.
- Buyers who leave feedback (either positive, negative, or neutral) after buying from a seller will earn some Props for each purchase.
- Users will be able to earn more Props by completing tutorials, daily, weekly, and monthly goals such as listing in certain categories, listing a certain number of items, buying in certain categories, inviting friends, etc.
- Users will earn more Props as they earn new badges on Listia. With over 80 badges to earn, there are plenty of opportunities to earn more Props!
Planned Benefits of Props on Listia
Props is designed to not only give users a stake in the network (just by owning it), but also give users a very tangible benefit within those apps as well. For users of Props on Listia, we are building out the following benefits:
- Sellers who hold Props will get a reduction in transaction fees. The amount of the discount will depend on your Props level. The more Props you have, the lower your transaction fees will be when selling things on Listia. This is huge for power sellers and retailers who want to build a presence on Listia. Props will give them a stake in the network that they are working hard to help build, and also give them an immediate reduction in transaction fees for all sales.
- Get a bonus every time you buy more in-app currency to spend on Listia. The amount of your bonus currency will depend on your Props level. Essentially, the more Props you hold, the larger your bonus when buying stuff on Listia.
- Get a bonus when you earn in-app currency for offers and surveys. Similar to buying, the amount of your bonus currency will depend on your Props level. This is a great way to earn free currency to spend in the marketplace, and users with more Props will be able to earn more quickly.
We will continue to update here as we make progress and as we decide on any new features or changes to planned features. Stay tuned and as things become more final, you can expect bonus % numbers and more user-facing communications on Listia and our other apps as well.
(Additional details about Props levels, tiers, and discount/bonus percentages coming soon… check back for more details as they become available.)
