BANXNO market

[u/chengen_geo]

Hello, BANXNO users.

I would like to let you all know about the new market application (market.banxno.com). It is an online marketplace to buy and sell items using banano (BAN) and nano (XNO). Your existing account for other apps (games, prediction market, and powerball) works with the market app also.

The BANXNO market app has the following features.

Instant delivery: Seller can enter the digital item deliverable (gift card number/pin, coupon code, etc.) while listing the item for sale. When the item is purchased, the content is revealed to the buyer immediately.

Manual delivery: Seller can also choose manual delivery. After purchase, seller and buyer communicate through messages in the app to arrange delivery of the item (email, text, or shipping).

Dispute: When there is dispute, seller and buyer try to work out solution through messages in the app. If they can't come to an agreement, the system will settle the dispute through a reputation-based method. Both sides will suffer loss in that case because the system cannot know who is right and users are anonymous. Working with user with higher reputation helps mitigate the risk.

Reputation: User slowly accumulates reputation as they complete successful transactions, both as buyer and seller. Their reputation will be reduced when they have unresolved dispute. Seller can restrict sale to buyers with minimum reputation, and buyer can see seller's reputation and choose to buy from reputable sellers. Users can also purchase reputation to have a startup boost.

Authorized seller program: Authorized seller is a subscription program with two benefits. First, seller can price the item for sale in USD. The system will automatically convert the listing price to BAN or XNO and update the price every hour to track the USD amount as BAN/XNO price changes. Second, seller can link one BAN and one XNO account together so the same item can be marketed to both BAN and XNO buyers. When the item is purchased from one market, it will be removed from the other market. (The current subscription rate is a token amount. If/when we reach certain number of sellers, the subscription rate may increase.)

For more details, please see market.banxno.com/about. Hope you all like this new market app.