The philosophy of this instrument is opposite to the one of fair trade: whilst the latter seeks to pay a better price to producers for products that leave their community, the Swapp MKT asks the producer to decrease the price for local people so that they can pay for the product.
Community currencies are an agreement between the members of a community to accept a different measure of value and, have the potential of encouraging a stronger sense of identity linked to the community, local pride and sovereignty. Local currencies do not seek to substitute conventional money, as by nature they only work locally. To become a member: 1. Individuals needs to produce something or offer any service. 2. Declare that they want to become a member at “The Swapp Market”. 3. New members are provided with a directory of all the members. 4. and with 500 SWAPP TOKENS that they may spend in any of the businesses that appear in the directory. New Members must: 1. Compromise of accepting that other members pay with TOKENS at least 10% of the price of the products or services they offer. 2. When members want to stop participating, they are asked to give back 500 TOKENS they were initially provided with. Rather than seeking for their own benefit, members have to empathize with the rest of the group and help each other to seek the benefit of the group. Similar to “Swimming upstream”. The system has no cost for members because SWAPP TOKENS are provided for free.
How it's made
This project uses Metamask and MoralisSDK to authenticate the Members. It's integrated with https://web3.storage/ when a New Member joins and mint their profile NFT. Members will be able to upload profile pictures and other media assets to their own IPFS node using their own API Keys to web3 Storage. A single HTML built for transparency for the Members and you can access it from any mobile device using MetaMask Mobile App. A Smart Contract with ERC 1155 to issue NFTs to Members and also keep track of the token management for each community.