Ethbay aims to become the the eBay of Ethereum with an Ethereum based decentralized peer to peer marketplace. With Ethbay, users can buy and sell anything using Ethereum as opposed to the regular fiat currencies accepted on standard marketplaces. It is one of the first truly anonymous marketplaces in existence. Users are not required to provide any personal information when signing up. Transactions are protected under an ultra secure Ethereum smart contract escrow to keep both the buyer and the seller safe. Ethbay also offers its service at a significantly reduced fee over other competitors. A low 1% fee is charged on the funds a seller receives when they make a sale as opposed to many popular marketplaces such as eBay and amazon who charge 10-15% fees to the seller. Ethbay also eliminates listing fees that many competitors charge. Fees are only charged when an item sells. A dispute resolution system will also be in place to quickly and easily resolve any disputes that may arise between buyers and sellers.
Ethbay is an Ethereum based ERC20 token. Investors will receive 5,000 Ethbay (EBAY) tokens for every 1 ETH they contribute, with up to a 25% bonus offered for early investors. There are a total of 100 million tokens in existence with up to 80 million tokens available for sale during the ICO. Token holders receive a proportional share of the profits generated by the platform paid to them in Ethereum on a monthly basis. Token holders will also have voting rights on site proposals and can submit their own proposals if they hold at least 200,000 EBAY tokens.
The ICO will begin on June 7 and will conclude on August 7. For more information, please visit our website at www.ethbay.co