EOSMARKETPLACE

EOSMARKETPLACE is a platform where prospective businesses or individuals can have geolocation-based advertisement listings. In order to be able to have a listing, the business or individual must first register their business. This is done by providing the business name, a logo, an email address, and a physical address of the business. In order to be advertised on the map, it costs 5 MLT a month. MLT can be earned through the use of the DAPP EOSMICROLOAN. Each business will have a limit of 3 products that they can advertise within their business listing which will be tied to the EOS account that is used to sign in and create the listing. This same EOS account will receive payments made by customers when a product special is sold.  A customer must first log onto EOSMARKETPLACE with an EOS account, and complete their profile by providing an email. That is it! The customer can then click on a business listing, and select a product that he or she wants to buy. The seller will then be notified that there is a pending sale. In order for the transaction to be final, the seller must approve the sale. Once the sale is approved by the seller, a microloan is created using EOSMICROLOAN. There is another component to EOSMARKETPLACE, and that is the banners found on the homepage. In order to get a premium advertisement spot on the homepage, one must pay MLT. There is a maximum of 6 spots, and businesses compete for those spots through an auction/bidding system. The business that pays the most MLT will get the first spot, the business that pays the second most will get the second spot, and so on. If an outside business outbids a business that currently has a banner, the lowest MLT amount will be removed from the list. This ensures that the 6 highest amounts paid have banners. However, there is a 3% decay of the MLT power in the ad every 24 hours. This means that if you pay 30 MLT to get a banner, after 24 hours it will only be 29 MLT credited to your banner spot.