The holders of Ethair Market have voted to list ETHR token at Uniswap. Utilities of the token are directly tied to a user’s interaction with the marketplace. Ethair Market supports fiat as well as cryptocurrencies like Bitcoin, Ethereum and Stellar.
The marketplace is still in beta and sellers can list their items prior to full launch. Ethair Market operates in the traditional B2C/C2C modes with two types of listings: Market which are new fixed price items, and “Buy Offer Bid” (referred to as BOB on the platform) which includes new and used auction items that customers can buy outright, make an offer on, or bid on like in traditional auctions.
Ethair aggressively markets through Google, YouTube and Yahoo ads. Uber Ads in Los Angeles and Chicago. Soon, there will be major highway billboards.
You may check ETHR’s token contract here.
What’s the ETHR token utility?
ETHR is Ethair’s native token that is integrated into crucial components of the marketplace. Users can benefit from many benefits due to its utility that extends beyond the marketplace. That means that they can enjoy the “off-chain” benefits of using ETHR as a form of payment on the platform thus having no gateway or blockchain fees by having a token balance in their account.
The token provides sellers with a variety of discounts. A seller can enjoy a 10% reduction on final value fees for every 100ETHH they hold in their ETHR account. Sellers will receive 15% off advertising fees when paid with ETHR. They also have access to token holders’ exclusive ads spots.
These utilities are only currently available for tokenholders. Once the deposit functionality has been fully implemented, they will be made available to everyone.
Every Ethair Market user who has any ETHR available in their account is eligible for voting rights to certain token matters. This allows the token to have utility purposes and gives the user the possibility to direct any actions.
Tokenomics & Minting
The ETHR token is an Ethereum-based token (ERC-20), with an initial supply limit of 2,000,000. There is no limit to the supply. However, the creation of additional tokens is directly tied with users’ marketplace transactions. ETHR can only be minted by exchanging customers’ transaction-generated points for ETHR. This allows for the creation of additional tokens, and supports platform use.
These points are Ethair’s rewards system and they are gained on every successful transaction. These points count towards the 25% final value fee reimbursement for all transactions and reduce market fees.
A user can request to convert their ETHR token points into ETHR tokens. Our smart contract will first give them an exclusive bonus that is 10% higher than the ETHR value. The request is multiplied by 2. Once the ETHR has been created, it is sent to the user. The remainder of the ETHR is divided equally between the two pools.
Referring verified customers to the marketplace earns them a portion of pool rewards. This reward will be given out once a month for a one-year time period. Then, governance will vote on the next use of the pool.
This pool of company accounts can be used, among other things, for promotion and partnership purposes.
Goals and expansion for the company
Ethair’s goal is to be a more customer-friendly platform. Their goal is to make a marketplace more user-friendly, with the primary objective of supporting sellers and their business.
Ethair is now able to support users in Canada and the US using Stripe, but it’s already planning to expand its reach to other 45 countries.
Next is implementation of NFT markets. Ethair envisions NFTs as a mix of both on-chain state and off-chain state. This allows for instant, cross-chain transactions and feeless transaction while also bringing technology closer to people with specific use cases.
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