Ink Protocol (XNK)

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Official site (website): https://paywithink.com/ Official Twitter account: https://twitter.com/PayWithInk Official Telegram channel (group): https://t.me/paywithink Official blog (news): https://medium.com/@PayWithInk PDF document file: https://paywithink.com/wp-content/uploads/2018/01/Ink_Protocol_Whitepaper_V6_Listia_Inc.pdf Alexa website traffic ranking: https://www.alexa.com/siteinfo/paywithink.com

Truth and facts[edit]

  • A decentralized reputation and payment system for P2P marketplaces. Brought to you by Listia.
  • Ink Protocol Decentralizes Marketplaces
    • Buyers: View any seller’s reputation across multiple marketplaces, pay with escrow, and leave feedback for completed transactions.
    • Sellers: Reputation is decentralized and public, so it is available anywhere. Bring it with you and never worry about rebuilding it from scratch.
    • Any marketplace: Ink Protocol can be integrated into new or existing marketplaces and can also be used in marketplaces that don’t directly handle payments.
    • Any transaction: Ink Protocol doesn’t require a marketplace. It can be used for any peer-to-peer transaction.

The Listia Marketplace

  • Ink Protocol will become the new reputation and payment system within the Listia marketplace.
  • Launched 2009
  • 10 million registered users
  • 100 million items sold
  • Existing users with Listia Credits will have their balances converted to XNK, providing the token with a tremendous boost for initial usage, stability, and network effects on day one.

Official

  • Ink Protocol (XNK) is based in United States.

Token

  • The official ticker symbol for Ink Protocol token: XNK
  • Token type: ERC20

ICO

  • ICO from 22 Jan 2018 to 28 Feb 2018.
  • Pre-ICO from 22 Jan 2018.
  • Crowdsale from 1 Feb 2018.
  • ICO token price: 1 ETH = 7,500 XNK.
  • Presale cap: $5 million
  • Private sale: $3.5 million
  • Crowdsale: $6.5 million
  • Total fund's target: $15 million

Video Playlist[edit]

Ink Protocol Interview

00:00 Hello everyone, today I'm joined by Gee-Hwan Chuang, the co-founder and CEO of Listia, thank you for joining me today, Gee.
00:08 Hi, thanks mate, thanks for having me.
00:08 So let's just start off with a simple question, can you tell us a little bit about yourself and about your team?
00:20 Yeah sure, so my name is Gee, I'm the co-founder and CEO of Listia, is a peer to peer marketplace based in the United States.
00:20 The marketplace is primarily used for trading used goods right now.
00:38 So before moving out to California, I studied EE at Cornell University in New York and that's actually where I've met my co-founder James.
00:49 So kinda move that to California, what did tech for a few years and in 2009, we started Listia together.
00:58 What we wanted to do is, you know, there were all these big market places out there like eBay and Craigslist but we noticed that people still had all this stuff that they didn't use sitting in their houses.
01:09 And so you know we want to build a light and easy way for people to kind of quickly snap a photo of something posted online and kind of give it away for free and that was the stuffs we are doing.
01:21 Right now we have 13 people on the team, mix between 10 of us in the US and 3 people in Taipei.
01:21 We actually been working together for several years now, around seven to eight years now.
01:21 Wow well it really shows, I was looking at your website and it really is so easy to use and it looks really great and fantastic.
01:51 So I'm gonna move on to the next question, which is, Listia, it is a very successful startup.
02:00 Can you tell us a little bit about its relation to Ink protocol?
02:02 So yeah, so we're really proud of we've been building in Lisita.
02:10 So we started in 2009, it's been a long journey but over that year, you know over those eight years, we've gotten about around 10 million registered users, 100 million items have been exchanged over those years.
02:26 You know it starts as a website but it kind of evolve into a mobile marketplace.
02:26 But it's also very unique in that unlike a traditional marketplace, people buy and sell on Listia using, it's a centralized virtual currency, so we call them Listia credits.
02:44 When you sell something, you earn credits.
02:47 When you want to buy something, you have to spend credits.
02:52 Our users are very used to kind of using a digital currency.
02:54 So starting around June, we're working on ink protol.
03:00 So ink protocol is going to be the brand new kind of reputation and payment system within Listia, so that's kind of how they related.
03:07 We took our years of experience, running sort of this peer-to-peer marketplace, and kind of extracted the important pieces out to build ink protocol.
03:20 So ink protocol trying to be kind of this layer to power decentralized marketplaces in the future.
03:28 So we are the same company and this is kind of a new product for us, which we start on this year directly, but we hope that it will be super useful, out this year and on any marketplace.
03:34 I'm looking at your website, you really can see how well they really complement each other or it just makes sense having people, their reputation sort of be trapped, it's it really is a great idea.
03:58 And so moving forward, do you already have any established partnerships whatsoever?
04:03 So we are working on partnerships right now.
04:03 But like I said, one of the main thing to kickstart like the network effects and the growth of ink protocol is integrated into Listia from day one.
04:20 So we think, you know, we'll be one of the first cryptocurrency out there to have a real life usecase right after the token sales.
04:22 So that's how we're gonna kickstart things.
04:32 Our strategy in terms of, I guess partnerships after that is we going after some of the most learning influence, you know, there's this whole series of marketplaces out there.
04:46 So Craigslist in the u.s., Facebook marketplace, these are huge marketplace where there's no reputation system, there's no built-in payment system, it's just a very it's a huge marketplace with a lot of potential to help people right away.
05:04 So we are building a mobile app, a consumer friendly app where you don't need to understand cryptocurrency in blockchain.
05:04 But it will be targeted towards, you know all this marketplace is where, you know I want to buy a couch, we meet up in person, I can pay you using the app, and leave you a review or feedback right after that.
05:27 So the cool thing is, the interface here is mobile app and we don't need direct integration with the marketplace and people can start using it sort of right away.
05:40 So if you want to show off your reputation, for an instance, all you have to do is to paste in your, you know ether address, Ethereum address right into listing and say hey, this is who I am, check out my feedback, you know I've sold ten things in the last month and got all positive reviews, so it can be very comfortable coming to my house to buy my couch or chair or whatever.
06:00 Exactly what you were saying right now.
06:06 Stuff like the Facebook marketplace can be a bit like the Wild West and it's nice to sort of find a way to have reliability in that, you can trust can you explain a little bit exactly how ink protocol works?
06:27 So the ink protocol is the new decentralized reputation and payment system.
06:41 It runs on Ethereum platform, there's a token called XNK which is ERC 20.
06:50 The problem we trying to tackle the centralized marketplaces like eBay, they own you a repuation.
06:56 So you start selling on there, you might have 15 positive feedback and you have to continue selling on those marketplaces to use that reputation.
07:09 So you're not able to take those I've summarized today.
07:12 So with ink protocol, what we trying to build is the portable reputation that you can use it across marketplace.
07:22 So one day I'll be selling on Listia, my some feedback there.
07:28 The next day I really want to just go sell on Craigslist because something's really bulky, I can leverage what I've built up inside there.
07:35 So when you sell something, you can kind of show off your reputation by showing your Ethereum address.
07:46 People look up that address and they can see your kind of entire history of transactions stored on the blockchain and from there they can make a judgment as to how reputable I think you are.
07:57 If they like you then they wanna buy something from you, they send in ink protocol tokens directly to that address and that's how we verify.
08:08 Someone can tell you who they are, but you don't know if that's really who they are unless you pay that same address, so that's how we verified, we're dealing with the person who think you are.
08:19 After the back transaction, you're able to leave your own kind of feedback for that person and again that payment is tied there because you know, we want to make sure it's a verified transaction, you can't just leave feedback for someone without paying.
08:35 And then the last kind of two pieces that we have within the protocol are this idea of Listia, and also varying party dispute resolution.
08:39 When you buy something online, it takes some time to ship the items.
08:39 During that time, the tokens are stacked within the contract and held there until the seller is able pack, ship and when you receive it, you can release the tokens to the seller.
09:09 And in case there's a dispute, which you know, obviously it does happen no matter how how good a marketplace is, you can file, you can kind of file a dispute.
09:20 And then in the beginning of the transaction, you would have to agree on a third party mediator which will step in and helped you to resolve the dispute.
09:27 And it's a pretty cool interface, anyone can insert a smart contract as the mediator.
09:37 So you know that contract could be automated, maybe it just checks for shipping status or it could be you know, there's a person or a group of people behind that contract sort of trying to help you resolve your issues.
09:53 We leave that part kind of open and hope that the community can created kind of cool ways to help people resolve this issue.
09:53 Absolutely, I actually just want to touch on one other thing that you brought up about we were speaking of tokens.
10:10 Could you maybe explain a little bit more about token use as well as in regards to what users be able to pay with Ethereum or the US dollar, because you said that it was going to be on the Ethereum blockchain, so how does payment for that work?
10:26 The ink protocol or XNK is kind of a underlying currency used for all in transactions.
10:40 So it's meant to be kind of a general purpose for cryptocurrency that you can use directly to buy and sell goods.
10:47 Let's see, the feedback that you leave for each other is also backed by these transactions.
10:56 So every feedback is tied to sort of a verified purchase.
11:03 So if you can pay with other currencies, I think depending on the marketplace, you should be able to pay with the variety of currencies.
11:14 In the US, you know might be USD, might be ether, it might even be Bitcoin, sort of off the chain.
11:19 So in that case, we imagine these marketplaces are going to own a lot of ink protocol token and they can use it to write sort of feedback between two users in sort of an asynchronous way.
11:34 So we imagine marketplaces will enable people to use whatever currency they want.
11:42 Our own sort of BitPay app will kind of help you easily convert between currencies and then we'll use XNK to complete the transaction and then the seller has option to convert it as well.
11:56 So that's another easy way to make sure that, yeah as a buyer, you might want to use different currencies as we attack existing marketplaces like in the US for example, it's not gonna be a media that people start using tokens as the main purchase currency.
12:15 So, well that does happen on Listia, we've been using token directly.
12:18 Yeah we think marketplace will eventually enables other types of payments.
12:22 Wow, that's really great.
12:25 My next question is many have found similarities between you guys and monetha, which recently successfully raised 37 million dollars for their ICO.
12:39 That seems like they're also building a payment and reputation protocol, that's what that's the similarity that people are finding.
12:49 Can you explain the differences between you guys and them?
12:51 Yeah, we actually love what they are doing.
13:22 We think that would be a really good solution.
13:22 I think maybe the key difference sort of in the problems or space we are attacking.
13:22 So, while long term...
13:22 actually hopefully we can get a chance to work with them in the future.
13:22 But I think the primary thing right now in Ink Protocol really focuses on decentralizing, these peer-to-peer marketing places as opposed to sort of retailers or ecommerce where there is big centralized businesses you are dealing with.
13:28 So we feel like on the p2p side there a lot more initially to gain from decentralization.
13:40 Whereas retail and e-commerce is kind of different animals.
13:44 Even though you are both, in both case you are buying and selling goods, it's just how it run, I think that pretty different.
13:44 So while there is some overlaps in functionality, I think Ink Protocol has a big focus onto this escrow, mediation, dispute resolution, limited trust betwen people.
14:04 Once the retailers know you don't need that trust anymore because you trust it already.
14:13 So, in the p2p, you can deal with anyone at any point and that's why we think this reputation tied with mediation, dispute resolution is really important.
14:22 That's the other little differences, we don't charge the network on transactions.
14:22 Our token is more like a cryptocurrency, there is no payout of fees for holders like that.
14:22 It's a little bit different mechanically.
14:22 We love what they are doing.
14:22 In the future, a lot of these need to be decentralized, public and verifiable.
14:22 Yeah, very cool stuffs, there's some overlap but also kind of different market segment.
14:22 yeah absolutely, now that you describe it that way, there really is two different functionalities and really your project sounds amazing.
15:16 So my final question really is this, could you tell us a little bit about your upcoming ICO, market cap, token allocation, things of that nature?
15:28 Yeah, so we just started on registration, KYC registration is now live.
15:28 We are targeting January 22nd presale launch.
15:28 So, to get into that, you basically just need to start registering right now.
15:28 After that presale, on February 1st, we are going for the crowdsale.
15:28 So the hard cap is 15 million US dollars, and that accounts for about 30% of the total tokens.
15:28 An additional 6% of the token is allocated directly for Listia.
15:28 So like I said, on day one, all customers on Listia will have Ink Protocol tokens to use.
15:28 We actually convert from credits to XNK immediately after the token sale, and really buying and selling using that.
15:28 So hopefully for most of our users, it's a seamless transition.
15:28 The currency will be thought something else but the mechanics on this field will be the same, which is cool I think.
15:28 The rest of the pools divided in between growth of networks and incentives that we gonna use over time to incentivizes like our BitPay app and other marketplace to use Ink Protocol, and also this year pool.
15:28 So above of these, there will be a 3 year lockup period so we can disperse these over time, incentivizing them over time, find partnership over time, so they will be all come back at once.
15:28 Lastly, as you register will be hanging out sort of individual cap fees.
15:28 This is a where consumer facing product who want as many people as possible to get it.
15:28 So, one way is that all of these agents will have tokens right at the start, but we also want as many investors sort of debated as possible.
15:28 And we actually have a partnership with Quantum.
15:28 So they are digging our contract to make sure it is secure, and we will do an airdrop to QSP holders as well.
15:28 You can find out little more about this details on the website.
15:28 And that's another way to get into the hand of more people.
15:28 and that's really great.
16:26 Just for our viewers.
18:09 Can you remind us when day one will be for a token sales?
18:12 Yeah, so January 22nd, that's when our presale starts, and it's a public presale so everyone can get it.
18:12 Amazing, well, I'm personally really excited for this and thank you so much for joining me today, it's been such a great conversation and we'll all be keeping an eye on for this amazing project.
18:35 Thanks you.

Wallets[edit]

Exchanges[edit]

List of exchanges, trading platform and marketplaces to trade, buy and sell Ink Protocol (XNK).

Roadmap[edit]

Date Events and Milestones
June 2009 Listia Inc. is founded and receives funding from Y Combinator
August 2009 The Listia marketplace launches
October 2009 Listia announces $400K angel round
April 2011 Listia launches iOS app, announces $1.75MM seed round led by A16Z
January 2012 Listia reaches 1M registered users, launches Android app
January 2013 Listia partners with Best Buy to power the Listia Rewards Store
October 2013 Listia announces $9MM series A led by General Catalyst
February 2014 Listia allows Bitcoin to be bought and sold in the marketplace
November 2014 Listia first experiments with creating a cryptocurrency
December 2015 Listia launches the Credit Exchange, allowing sellers to earn USD
April 2016 Listia launches Credits + Cash feature
June 2016 Listia launches Listia Plus
September 2016 Listia integrates shipping labels and tracking
May 2017 Listia hits 10M registered users
June 2017 Listia begins work on Ink Protocol design and whitepaper
September 2017 Listia publishes website and Ink Protocol whitepaper
November 2017 Listia introduces the Ink Protocol project publicly
January 2018 Ink Protocol public launch and token distribution event
February 2018 Ink Protocol network goes live and ready for everyone to use!
February 2018 Listia.com XNK integration goes live!
Q1 2018 Ink Pay App and Developer Portal launch
Q2 2018 Launch Reputation Aggregators and work on Marketplace Partnerships
2018 Ink Protocol services, integration into existing marketplaces, developer community

Team members[edit]

  • List of team members in Ink Protocol (XNK).
Name Position Details
Gee-Hwan Chuang Co-Founder & CEO, Listia

Official LinkedIn account: https://www.linkedin.com/in/geechuang/ Official Twitter account: https://twitter.com/geehwan

  • Co-Founder & CEO of Listia Inc. and Ink Protocol (XNK) cryptocurrency project.
  • From San Francisco Bay Area / Silicon Valley, United States.
  • Graduated from Cornell University with Masters, EE and B.S. EE in Electrical and Computer Engineering (1997 – 2001).
James Fong Co-Founder & President, Listia
Gee-Hsien Chuang Head of Product, Listia
Ngan Pham CTO, Listia
Charles Huang Mobile Developer, Listia
Xenor Chang Developer, Listia
Lake Chang Developer, Listia
Jerry Chen Developer, Listia
Natalie Acosta Member Support, Listia
Ricky Lugonja Member Support, Listia
Ashton Lauren Member Support, Listia

Advisors and partners[edit]

  • List of advisors and partners for Ink Protocol (XNK).
Name Details
Samuel M Smith PhD Chief Architect Reputation AI Systems, ConsenSys – Reputation, Identity
Philip Krim Co-Founder & CEO, Casper, E-commerce, Biz Dev, Marketing
Quantstamp The Protocol for Securing Smart Contracts, Security, Auditing, Token Sale
Lester Lim Blockchain investor and founder of a global private syndicate investing in top ICOs – Marketing, Strategy

Investors[edit]

  • List of related investors.

Ink Protocol (XNK) investors.png

White papers[edit]

Bounty programs[edit]

Frequently asked questions[edit]

Reviews[edit]

References[edit]