Topic: [ANN][ICO]🚀🚀ApolloX Protocol🚀🚀| Empower Decentralized E-Commerce Marketplace - page 30. (Read 4745 times)

Yes, we prefer to choose the decentralized version of any services we use. As we grow, we will make more partnerships both in technology and operation. We will announce the partnerships in a series of post on our blog soon.

Anything that provides value to a decentralized ecommerce business can be built as a protocol and be part of the ApolloX ecosystem. For example, a p2p lending service between sellers can be built as part of a lending protocol. A local distribution service can be built as a logistic protocol. The founding team is not going to build every possible business application because it is not feasible and not efficient. We are building the most essential set of protocols and rely on our community to generate new ideas.

We believe that only open source and community powered blockchain project can succeed in the long term. To encourage great developers joining our system, we will have a reserved amount of tokens every year rewarding community members who contribute new features and improve the existing protocols.

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Interesting project! You mentioned all ApolloX members can build their own protocols that will best serve and advance the ApolloX community. What would the community build into the protocol?

Yes. All APXT tokens are pre-mined and will be limit to 10 billion tokens in total.

a project for a secure payment made by ApolloX project hope they could make a good marketing strategy and be able to get a positive response for the community

Our reputation protocol is to provide trustable reviews and ratings for both products and members. Take products as an example, customers rely heavily on the reviews and ratings of the products on a marketplace to make decisions on their shopping choices. Therefore it is important to prevent people from manipulating the review system and encourage genuine reviews from verified buyers. To accomplish this, ApolloX reputation protocol is created to reward authentic reviews and penalize fraudulent reviews.

When ApolloX Reputation Protocol confirms a review as fraudulent, the reviewer will be punished by losing a certain amount of ApolloX tokens and be prohibited from posting future reviews. Below is a brief explanation of the lifecycle of a review posted on ApolloX network.

1.Buyers are invited to post reviews for their purchases once the delivery has been confirmed.
2.Buyers are promised a small amount of tokens (3 APXT) as compensations for verified reviews from the ApolloX marketplace. They are also told that a small amount of tokens (3 APXT) will be lost if their reviews are determined as fraudulent.
3. The review is processed by the automated review filtering algorithm and examined by a randomly selected committee if necessary to determine their status as verified, unknown , or fraudulent.
4. Only verified reviews will be made public and received a rewards token. Unknown reviews will be discarded. And fraudulent reviewer will receive warnings.

For more details on how our reputation protocol as well as how the review moderator committee system works. Please checkout the chapter about Reputation Protocol in our whitepaper.

Unfortunately, US and China citizens won’t be able to participant in the public sale. We will keep the community updated if this restriction is going to change. If you are an accredited investor, you may be able to participate in our private sale so please contact us through [email protected]

Are you partnering with any blockhain companies?

I understand the performance benefits. Will you be pre-mining?

We have got support from several big name venture fund in our angel round (like Amino) and dozens requesting allocations for our private sale. We will have a series of blogs to announce our private sale partners once it's all completed.

The consensus we will use is PoS. The reason behind this is to achieve high-throughput performance to handle the large volume of e-commerce activities.

How does reputation protocol work?

The exchange rate of a cryptocurrency vs fiat currency like US dollar will always be changing. That’s why our protocol allows sellers to list their items using a fix price anchored to US dollar. Customers can buy items with fiat or crypto. So the trading parties are not affected by the pricing fluctuation of the tokens. Of course, we encourage people to conduct trades with APXT. When both parties choose crypto, they will receive a bank fee saving of at least 3% as rewards. 

how many investors have joined this project? I think this project is very helpful to make transactions, success for this ApolloX Protocol project.

How will ApolloX address the instability of token prices for consumers and producers?

Hello! Customers can use fiat currency or APXT to make purchases on the ApolloX network. We also have plans to support other popular crypto currency like bitcoin and etherium.

Interesting idea! Will consumers be allowed to use any type of currency for purchasing or just your own tokens?

Is the protocol PoW or PoS?

Yes, we are currently building a wallet into our first supported app: ApolloBox. During the airdrop and bounty, participants can check their balance inside the ApolloBox app. After the token sale, they will be able to transfer their APXT to other wallets or just use the ApolloBox as a wallet.