Cilistia Is the world’s first decentralized peer-to-peer cryptocurrency market for revenue sharing
Cilistia uses smart contracts to facilitate transactions between buyers and sellers. When the transaction begins, a smart contract is created to hold the money in custody until both parties agree that the transaction has been completed.
This will ensure the safety of the funds, without mutual consent can not be released. It also means there is no need for third parties to act as facilitators or custodians of funds, as is the case with centralised exchanges.
At Cilistia, we understand the importance of protecting buyers from fraudulent activity. That’s why we have implemented a comprehensive buyer protection program to ensure our users can trade with confidence.
Protect the buyer with $CIL
One of the key features of our buyer protection program on Cilistia is the use of $CIL tokens as collateral. When a seller starts trading on the Cilistia market, they need to pledge a certain amount of $CIL as collateral. This helps secure the transaction and protects the buyer from any potential fraud.
Also, if a seller attempts to conduct fraudulent activity on the exchange, their $CIL token wallet address can be blacklisted through a governance vote. This means they will no longer be able to trade or participate in the Cilistia ecosystem, further protecting buyers.
In addition, when the transaction begins, the withdrawal of the pledged CIL is locked in for 7 days, which is to ensure the transaction is completed and protect the buyer in case of any problems.
All these measures work together to create a safe and secure trading environment for our buyers. We believe that by protecting our buyers, we can foster trust and confidence in the Cilistia market, ultimately leading to greater adoption and growth in our ecosystem.
Cilistia’s dispute Resolution Agreement is designed to provide a transparent, fair and efficient mechanism for resolving disputes that may arise during the transaction. The agreement is based on a decentralized system where community members act as arbitrators to review evidence presented by both parties and make decisions based on the facts presented.
How it works
In the event of a dispute, both parties must submit evidence of the transaction and any relevant communications. The evidence will be hashed and submitted to the blockchain to achieve immutability and make it publicly verifiable.
Community members who are motivated to participate in the arbitration process can vote on the evidence presented to determine the outcome of the dispute. The results of the vote will then be used to determine the allocation of funds.
The dispute resolution agreement also includes a time-lock mechanism to ensure that funds are held in trust until the dispute is resolved. This ensures that the money is safe and can be distributed to the winning party.
The agreement aims to be transparent, fair and efficient, and to ensure that disputes are handled in a decentralized and community-driven manner. The protocol, which has been integrated into the Cilistia ecosystem, can be triggered by any user who believes they have been aggrieved in the transaction.
Cilistia protocol is an open source, decentralized digital asset trading platform. It is built on a multi-link architecture and will support Ethereum, Avalanche, and Arbitrum networks at launch. The protocol uses smart contracts to facilitate transactions between users. The core component of the agreement is the marketplace, which is a virtual marketplace for the trading of various digital assets.
The market on the Cilistia protocol consists of base tokens and quoted tokens. The base token represents the asset being traded, while the quoted token serves as the reference currency for pricing. For example, in the ETH/USDT market, ETH would be the base token and USDT would be the quoted token.
Creating a marketplace on the Cilistia protocol is a permission-free process, meaning that anyone can create a marketplace without prior approval. The only cost associated with creating a marketplace is the transaction fee required to execute the smart contract. Once a market is created, the market creator is the only one who can update its properties.
Liquidity is an important aspect of any market because it determines how easy and how fast trades can be executed. In Cilistia, liquidity is represented by the number of underlying tokens provided to the market. When the market is sufficiently liquid, users can buy or sell any number of underlying tokens at a price determined by the liquidity provider. Individuals who add liquidity to the market are called liquidity providers.
The Cilistia protocol supports two types of markets: open markets and licensed markets. Open markets allow anyone to trade without restrictions or restrictions. Licensing markets, on the other hand, are designed for more intimate or exclusive transaction scenarios. They limit certain functions to users who have been added to the whitelist, making them ideal alternatives to private, peer-to-peer markets.
Cilistia operates with a flat fee structure of 1% per trade and swap. These fees are collected and returned to stakeholders at a rate of 70%.
Collection and distribution
The fee allocation is carried out through smart contracts on the Cilistia protocol. Smart contracts automatically calculate fees each day and distribute them to stakeholders.
20% of the cost is allocated to Cilistia contributors, which incentivize the contributors to maintain and improve the ecosystem.
A 10 per cent fee is allocated to the lowest price fund, which is designed to ensure the price of CIL does not fall below a certain threshold. Find out more about minimum price funds.
This fee structure is designed to be simple and transparent, ensuring that the pledge is rewarded for participating in the agreement and maintaining network security. Allocating a percentage of the cost to Cilistia contributors and the minimum Price fund also ensures long-term sustainability and health of the ecosystem.
Cilistia operates with a flat fee structure of 1% per trade and swap, with 70% of the fee distributed to stakeholders, 20% to Cilistia contributors and 10% going into the minimum price fund. This fee structure is designed to be simple, transparent and ensure ecosystem sustainability.