The eBay Marketplace of Ethereum

A Decentralized Peer to Peer Marketplace Where
Users can Buy and Sell Using Ethereum

ICO is Live!

ICO Ends August 7

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Tokensale Bonus Stages

Round 1
June 7-9, 2018

1 ETH = 6,250 EBY

25% bonus

Round 2
June 9-14, 2018

1 ETH = 5,750 EBY

15% bonus

Round 3
June 14-21, 2018

1 ETH = 5,500 EBY

10% bonus

What is ETHBAY

Ethbay is an online marketplace that is closely similar to eBay, permitting users to buy or sell tangible or intangible items using Ethereum. At a price of just 1%, Ethbay charges a substantially lower fee than eBay or any other standard fiat marketplace. Ethbay charges no listing fees for sellers on the platform, opening up the space to free listings, which is in stark contrast to the accepted industry standard.

Ethbay uses an ultra secure Ethereum smart contract escrow solution to ensure the safety and security of both parties when transacting. In addition, Ethbay provides one of the first truly anonymous marketplaces where no personal information is required for registration. This includes an encrypted messaging system when interacting with other users for increased privacy. Best of all, holders of the EBY token are entitled to proportional shares of whatever fees are generated on the platform.

In the future, Ethbay plans to add additional features to the platform including Ethbay Services where users can buy and sell services using Ethereum (essentially a decentralized fiverr) as well as Ethbay Classifieds where users can buy and sell locally using Ethereum as a base currency.

Users of online auction platforms and bidding sites like eBay face 3 major issues/challenges that detract from the value they are getting from the service. These issues are as follows:

  • Excessive fees for transactions and listing
  • Lack of security in carrying out transactions
  • Lack of any long-term reward for platform loyalty

Ethbay takes these three problems head on with an innovative solution that eliminates listing fees, radically reduces transaction fees to just 1%, incorporates an ultra-secure Ethereum smart contract escrow solution, and even includes a platform-specific cryptocurrency that tracks the value and popularity of the platform, rewarding its holders with substantial returns on their investment.

How it Works

Anyone from any country can register onto the site. No user information is required. An account ID will be generated that users will be asked to save. They will be asked to set a password for their account and will be given a 12-word mnemonic phrase that can be used to reset their password if they forget it. Buyers may add their email address to receive notifications from the site regarding their orders or sales if they wish but it is not required. In keeping with the blockchain’s theme of anonymity, this platform attempts to place as little focus as possible on centralization of any sort.

Sellers provide an Ethereum address where they want to receive payments for any sales they make. Items can be listed as either an auction with the start time and duration indicated by the seller or as a fixed price listing. With search functions available for buyers to find and sort through sellers lisitngs.

When a buyer has found an item they wish to purchase, they can enter their bid amount for auctions in a similar way bids are submitted on eBay. If the buyer’s maximum bid is higher than the previous bid, the bid will only show the minimum amount required for the buyer to be the high bidder based on the previous high bid and bid increments. New bids submitted that are outbid by the maximum bid, only increase the bid by the minimum amount required to remain the high bidder. Once the auction ends, the winning bidder will be given an escrow address to send the Ethereum to.

Once the Ethereum transaction is confirmed, the order is officially confirmed. This same checkout process is also used for fixed price listings after the buyer commits to buy the seller’s item. In the future, an on-site cryptocurrency exchange will be available to make purchases with almost any cryptocurrency, although Ethereum will remain the base currency. Our exchange will be able to quickly trade the cryptocurrency deposited for Ethereum when transferring the funds to the seller.

Once the buyer receives their order and are satisfied with their purchase, they can release the escrow to the seller. Any disputes from the seller regarding non release of escrow or disputes from the buyer over a problem with their order will be handled by our meditations experts to reach a resolution. Users with numerous disputes opened against them or users found to be abusing the dispute system will be suspended to protect the Ethbay community.

It is important to note that we do plan to offer a fully decentralized escrow service in the future without the need of a third party to ever intervene. Our current escrow solution is in place to encourage mass adoption since we have found that the majority of the general public prefers the standard dispute mechanisms found on other marketplaces for purchase protection. We believe that our platform will experience much better growth if we gradually transition to a decentralized escrow service rather than start with this type of service.

Token Structure

80%
Distributed to ICO Investors
20%
Reserved for Team
Cost of 1 EBY token: 0.0002 ETH
Term of token sale: 60 days with the possibility of an automatic early completion in pursuing the final goals of the ICO
Number of tokens available for sale: 80,000,000
Total Token Supply: 100,000,000
Adjustable emission: All unsold and unallocated tokens will bе destroyed and additional release оf tokens will not be possible
Secured ways to purchase tokens: Ethereum (ETH)
Hardcap: 15000 ETH

1 EBY token price

0.0002 ETH

Roadmap

November 2018
Beta Launch of Platform
March 2019
Launch Ethbay Android and IOS App
April 2019
Implement Voting System to Vote on Site Proposals
October 2019
Launch Ethbay Classifieds
February 2019
Alpha (Main) Launch of Platform
April 2019
Launch Ethbay Services
July 2019
Start Accepting Ethbay Tokens on the Platform

Soft-cap Budget Allocation

  • 60% Product Development and Maintenance
  • 20% Marketing, sales, merchant acquisition & partnerships
  • 20% Future Development

Smart Contract

Smart contract might be updated or changed to enhance platform efficiency.

From Left to Right:

Brett Murphy (Founder and CEO)

James Fuller (Co-Founder)

Phillip Warren (Co-Founder)

Mike Flemming (Head of Funds and Budget Management)

John Flores (Funds and Budget Manager)

Lester Harper (Funds and Budget Manager)

Courtney Graham (Funds and Budget Manager)

James Nichols (Funds and Budget Manager)

Grace Jordan (Site Developer)

Maxine Lopez (Site Developer)

Oscar Stone (Site Developer)

Jon Hawkins (Site Developer)

Daniel Camacho (Security Analyst-Head of Platform Security)

Oscar Johnston (Security Analyst)

Kay Butler (Security Analyst)

Martin Hall (Security Analyst)

Thomas Yeager (Mediations Expert)

Harvey Gordon (Mediations Expert)

Alexa Mitchell (Mediations Expert)

Carlos Lewis (Mediations Expert)

Peter Romero (Advisor: Sales Acquisition Manager, eBay Inc.)

Sophie Fuller (Advisor: Product Engineering Manager, Etsy)

Joseph Martinez (Advisor: Business Development Manager, Amazon)

Ralph Ryan (Advisor: Executive Assistant, eBay Inc.)

We are in the Media

Questions? Comments?

Contact the Ethbay team at ethbay@ethbayico.co We strive to answer all questions within 24 hours.

Please note: We do not guarantee a response to advertising inquiries.

BEWARE OF PHISHING EMAILS! We’ve received reports of emails claiming to be from us offering an ICO address to send Ethereum to for buying Ethbay tokens. This email is NOT from us. Please beware of any variations in the above email address claiming to be affiliated with us. We will NEVER send unsolicited emails to users with our ICO address.