Quote from: joniboini on Today at 02:13:17 AM

Quote from: marxdev on May 29, 2023, 03:31:11 PM

Cilistia has implemented a unique staking mechanism to prevent fraud and theft. Users are required to stake $CIL tokens for a specific period before they can initiate trades on the platform. By staking a certain value of $CIL tokens, users gain the ability to open orders for a predetermined amount of other currencies. This measure ensures a higher level of security and reduces the risk of malicious activities.

How many tokens will be required for this? Are there no other options such as locking their BTC/ETH on a multi-sig address like what Bisq does to prevent scammers from making fake trades? I don't really find it appealing that I need to buy your token first before I can even use the platform. What would you do if the token price becomes more expensive then? Will you lower the requirement? I'd rather use a static requirement such as "30% of total trade deposit is required before you can make trades" if that is the case.

Great question. Here is how it works:

1. User buys $10,000 worth of $CIL at a price of $1 per $CIL.
2. User stakes 10,000 $CIL.
3. User earns 70% of all revenue generated on the platform as long as his $CIL is staked
4. User can now open sell orders for other cryptocurrencies to the value of $5000 (50% of the staked $CIL balance)

If the price of $CIL drops to $0.50 then the users max trade amount is automatically updated to $2500. If the price goes up the max trade increases.
We do have a safe guard to prevent the price dropping below a certain amount. Its called the minimum price fund (MPF).
10% of all revenue generated is sent directly to the MPF and the MPF is triggered when the price of $CIL hits our minimum set price.
When the contract is triggered it will buy up and burn $CIL tokens from the market to maintain the minimum set price.