⌛Reputation

Put up less collateral

The Reputation System

Galaxy's decentralized reputation system is a cornerstone of its platform, designed to cultivate trust and reliability among users, particularly sellers. Here's how it works:

Firstly, Galaxy leverages blockchain tech to securely track and record the performance of sellers over time. Every successful token listing and completed trade is immutably recorded on the blockchain, providing transparent and auditable data regarding a seller's activity.

Sellers' reputations are assessed based on the number of successful token listings. This factor contributes to a seller's reputation score, indicating their reliability and trustworthiness on the platform.

As sellers accumulate successful token listings, their reputation score increases. This, in turn, results in a gradual reduction in the collateral requirements imposed on them by Galaxy. Trusted sellers with higher reputation scores are required to put up less collateral over time, reflecting their established track record of reliability.

This dynamic adjustment of collateral requirements serves as an incentive for sellers to maintain high standards of performance and integrity.