Buying. com, the team that founded the on-demand delivery platform and order management system, announced today that they will work together with TrustSwap to help in the execution of their token offering on July 14th, 2021 at 9:00 AM PST.

Buying.com suits businesses looking to upload products to its native platform and provide 1-hour delivery. The Buying.com delivery infrastructure is currently available in 22 US states in which hundreds of stores are using the platform to make thousands of deliveries every day.

At a macro level, Buying.com is a hyperlocal micro-distribution network fulfilling last-mile delivery within 1-hour, and the $BUY token is used to facilitate transactions in this ecosystem that involves Manufacturers, Distributors, Delivery Companies, Distribution Centers, Consumers, and more.

Buying. com is rolling out in phases starting with a focus on Food Order Fulfillment. In this ecosystem, the Buying.com platform will be used by restaurants for internal orders, online purchases, and order fulfillment for orders placed through major applications such as Doordash, GrubHub, UberEats, Postmates, and more.

Later phases will expand upon this model with more upgrades and features including:

1. Consumer Incentives: Consumers placing orders through the BUY app will receive tokens as Loyalty rewards. These tokens can be redeemed at participating retailers.
2. Social Group Buying: Consumers willing to participate in Social Group Buying to receive economies of scale from manufacturers to meet Minimum Order Quantity(MOQ) needs. The BUY token will be used by such Buying Groups to purchase products.
3. Distribution Facilities: Just like AirBnB, Buying.com enables any consumer or retailer with excess space to convert their garage area or storage facility into a Distribution Centre. Such facility owners would receive BUY tokens as payment for their services. Distribution Centers will need to stake tokens to take part in the network.
4. Delivery Companies: Just like Uber, Buying.com enables any consumer or business to do deliveries as part of its Hyperlocal Microdistribution Network. Delivery operators will receive BUY tokens as payment for their services. Delivery Companies will need to stake tokens to participate in the network.
5. Supply Chain Management: Retailers and Distributors can place orders through the Buying.com application. To participate, Distributors and Retailers will have to stake tokens. The Buying.com network’s smart contracts will also optimize order deliveries as part of reducing the Carbon Footprint (CF) of e-Commerce. Order optimization will involve encouraging Supply chain participants to enter Social Group Buying for MOQ and CF reasons. BUY Tokens will be used as incentives for participants to be active in group orders.

The four Pillars of the Buying.com Ecosystem:

1. Loyalty

The BUY token creates loyalty across its platform for everyone from businesses to individuals. Some aspects of Buying.com’s loyalty program for businesses include rewards for using Buying’s hyperlocal micro-distribution infrastructure. Businesses can also utilize the BUY token in order to offset fees owed to Buying.com for delivery fulfillment.

All order details are stored on the Buying.com blockchain and a final reward calculation is carried out at the end of the day based on the number of delivery orders placed. At the end of a month, when the final settlement between the business and Buying.com takes place, the business can redeem the BUY token in order to offset payments for deliveries.

The BUY token will be used as a Platform Loyalty Token for incentivizing merchants to participate in the program by placing delivery orders with buying.com .

2. Payments

Businesses encounter a challenging dilemma when it comes to embracing an array of payments. They are often forced to pay exorbitant fees to accept certain transaction types. This trickles down to the bottom line price for customers so these expensive payment fees affect consumers too. To avoid this, BUY presents an attractive alternate exchange of value for businesses and customers.

The use of the BUY token is an attractive option when it comes to:

• Micropayments where the transfer of funds to/from fiat is prohibitively expensive
• Transaction fees levied by banks and others make transferring funds to fiat incur at a minimum 2–3% if not more in transaction fees.
• Discounts off of products and services

There are a wide range of ways for stakeholders to use BUY for payment. Those include:

• Hyperlocal Delivery participants
• Hyperlocal Storage participants
• Retailers participating in the Buying.com marketplace
• Consumers using the BUY App
• Businesses using the Buying.com Hyperlocal Delivery or Storage services.

3. Staking

Participants wanting to perform the role of a Delivery Partner and Storage Partner (and possibly other roles in the future) will need to Stake Tokens. Staking involves the stakeholder purchasing a set amount of tokens, (e.g. 10,000 BUY tokens) and leaving that as a deposit in their wallet. This reduces the velocity and increases hold time of the token.

4. Governance

Buying.com is enabling stakeholders to participate in governance. These stakeholders may be token holders, delivery partners, storage partners, retailers and more. These stakeholders may collectively vote on decisions like rate of burning tokens, rewards % for consumers and so forth.

Buying.com Token Offering Details

                                                                        Tokenomics

                                                       Distribution and Vesting Schedule

Secure Launch Process

To ensure a smooth launch, Buying.com has agreed to:

1) Have their domain fully SSL certified one week prior to launch date.

2) Have their domain protected by Cloudflare and share proof with TrustSwap one week prior to launch date.

3) Disclose the vesting schedule of all tokens, including team, strategic investors, private presale, influencers, etc.

4) Add no less than $200,000 of ETH liquidity on Uniswap immediately upon listing.

5) Distribute tokens to launchpad participants within one hour of DEX/CEX listing using a token distributor like disperse or multisender.

6) Lock liquidity within 3 hours of listing for no less than 60 days at //team.finance/.

7) Provide the timeline for token distributions, and distribute tokens within a one hour window of the agreed upon time.

8) Lock 75% or more of team & dev fund tokens for a minimum of thirty days on //team.finance/ within 6 hours of funding liquidity on Uniswap.

9) Have at least one community moderator on each social platform (Discord, Telegram, etc.) actively available 24 hours a day for the first 7 days following the launch on Uniswap.

Participation and Allocation

Anyone, including those outside the TrustSwap ecosystem, are eligible to apply to participate in the $BUY token offering granted that individuals (and entities) meet jurisdictional restrictions. Take note that application does not guarantee an allocation and that the $BUY token uses the Algorand blockchain.

If the $BUY token offering becomes over-subscribed (due to pledges exceeding the $1.5M hard cap), priority will be given to the TrustSwap community based on total staked SWAP and SwapScore as follows:

Author

Chris Munch

Chris Munch is a professional cryptocurrency and blockchain writer with a background in software businesses, and has been involved in marketing within the cryptocurrency space. With a passion for innovation, Chris brings a unique and insightful perspective to the world of crypto and blockchain. Chris has a deep understanding of the economic, psychological, marketing and financial forces that drive the crypto market, and has made a number of accurate calls of major shifts in market trends. He is constantly researching and studying the latest trends and technologies, ensuring that he is always up-to-date on the latest developments in the industry. Chris’ writing is characterized by his ability to explain complex concepts in a clear and concise manner, making it accessible to a wide audience of readers.