- Can be used as a payment method when buying goods and services
- Paying for transactions with STRX rewards the buyer 3% cash-back
- Is used to pay for promoting listings and storefronts on the marketplace
- Trading STRX is supported on the integrated cryptocurrency exchange
- The total maximum supply of STRX is limited to 2,000,000
excluding blockchain fees
when accepting STRX
What will attract buyers and sellers to Storex when Amazon and eBay already exist?
We are one of the only e-commerce platforms to utilise blockchain technology which allows us to facilitate crypto payments for goods and services. We also pride ourselves on having no insertion fees for new listings and industry low processing fees for sales. We believe other e-commerce marketplaces impose unnecessarily high fees which can drastically reduce sellers' profit margins and discourage small businesses from establishing an online presence.
How are transactions protected from fraudulent activity?
By utilising blockchain smart contracts, we are able to protect both buyers and sellers during transactions. This is achieved by using a decentralised escrow service when a user makes an eligible purchase on the marketplace. The funds will not be released to the seller until the buyer has received the goods and is satisfied with the transaction. If a dispute arises, the community will have the opportunity to collectively arbitrate over the matter and release the funds through consensus decision-making.
How are disputes resolved on the marketplace?
If a buyer is not satisfied with their purchase and has been unable to reach an agreeement with the seller, they can create a dispute on the marketplace. This will allow both parties to provide all relevant information and evidence regarding the transaction. The community will then have the opportunity to arbitrate over the dispute and release any allocation of funds through consensus decision-making.
What payment methods are supported on the marketplace?
The marketplace currently supports payments using STRX, ETH and ERC-20 tokens. There are plans to incorporate non-Ethereum assets such as BTC, BCH and LTC.
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