- Crypto / Web3
Mobile buy and sell marketplace enforced and incentivized by smart contracts and backed by a DAO
ExchangeIt is a decentralized mobile marketplace for individuals to create listings and submit offers for local goods around their location. Transactions are enforced by smart contract escrowing and completed using a GPS backed Chainlink EA. Disputes and bad actors are regulated by a DAO governance.
The problem that ExchangeIt is addressing relates to the user experience of selling goods in an online marketplace and completing the transaction in person. This is accomplished through incentivization.
The main mechanisms for incentivizing people to meet and fully commit to their exchange obligations are based on two key functionalities: