Listia is getting a big upgrade in the next month or so. We are bringing a brand new rewards, loyalty, and bonus system to Listia, powered by Props Tokens! Props is a digital token that will unlock features and benefits such as lower transaction fees and bonuses for buying. Users hold Props Tokens to get in-app benefits (on Listia and other apps) & upside potential via a financial stake in the networks and communities they are helping to create!* The more Props you have on Listia, the higher your Props level will be.. meaning more benefits and a larger piece of the network. Read all about Props here: https://www.propsproject.com/

Props will be separate and in addition to the regular in-app currency (currently XNK) that is used to buy and sell goods on Listia. The good news is, the in-app currency for buying and selling is also getting a big upgrade! We will be renaming and stabilizing the currency – no more wild value swings, no more inflation, and most importantly we are adding a brand new Gift Card Redemption system, so you can always redeem your in-app currency for Gift Cards and other new goods. If you are familiar with the Rewards Store, this is essentially a big upgrade to that. You won’t have to wait for new Gift Cards to get listed, as the inventory will be unlimited.

Check below for more details! It’s very important to note that there won’t be any change to your current buying power so the upgrade should be seamless, unlike some of the previous changes to the marketplace currency.

To summarize:

Props: NEW rewards token to get in-app benefits & a financial stake in the network*
XNK: will change to a STABLE, in-app currency for buying/selling goods on Listia

Details and How it Works:

Existing Users Start Off with Props

• All users may receive a one-time award of Props for their continued loyalty as active users. If you have ever bought or sold successfully on Listia, you will get Props deposited into your account automatically once we launch!
• The amount of Props will be based on your past buying and selling, reputation, activity, etc. The more you have used or contributed to Listia in the past, the more Props you will start with.
• Anyone with a withdraw-able XNK balance or an outside XNK wallet will be able to continue using their balance to purchase items in the marketplace or choose to roll it into your new Props status level.

Earning More Props

• Sellers who successfully sell something and then receive positive feedback will earn some Props for each sale.
• Buyers who leave feedback after buying from a seller will earn some Props for each purchase.
• Users will be able to earn more Props by completing tutorials, daily, weekly, and monthly goals such as listing in certain categories, listing a certain number of items, buying in certain categories, inviting friends, etc.
• Users will earn more Props as they earn new badges on Listia. With over 80 badges to earn, there are plenty of opportunities to earn more Props!

Benefits of Props on Listia

• Sellers who hold Props will get a reduction in transaction fees. The amount of the discount will depend on your Props level. The more Props you have, the lower your transaction fees will be when selling things on Listia. This is huge for power sellers and retailers who want to build a presence on Listia. Props will give them a stake in the network that they are working hard to help build, and also give them an immediate reduction in transaction fees for all sales.
• Get a bonus every time you buy more in-app currency to spend on Listia. The amount of your bonus currency will depend on your Props level. Essentially, the more Props you hold, the larger your bonus when buying stuff on Listia.
• Get a bonus when you earn in-app currency for offers and surveys. Similar to buying, the amount of your bonus currency will depend on your Props level. This is a great way to earn free currency to spend in the marketplace, and users with more Props will be able to earn more quickly.

Stable In-App Currency

• Any existing XNK that you have on Listia will become a new stable, in-app currency. The numbers won’t change, so your buying power will remain exactly the same as it is before the switch, but the name will change and it will be stabilized from this point forward.
• You will be also able to buy the in-app currency once again at a constant price.
• Unlike previous currency changes, this one should be a lot more straightforward and will not require you to do or learn anything new. So you can just keep buying and selling while knowing that the value will no longer change like it used to in the past.

Gift Card Redemption and Power Sellers

• One of the most exciting changes for users will be the addition of a Gift Card redemption feature!
• Users will be able to redeem any (non-purchased) in-app currency for Gift Cards directly from Listia. This is a big upgrade to our existing rewards store system and will help keep the in-app currency stable.
• You can of course continue to use your in-app currency to buy stuff in the marketplace, but this is an additional option for those that sell a lot more than they buy.
• If you are a power seller or run a store as a hobby or small business, this is a new and amazing and consistent way to get more value out of your in-app currency.

Stay tuned for more updates! We think this will bring an exciting new chapter to Listia as we try to tackle some of the problems that have plagued the marketplace in the past and also bring everyone a new and exciting rewards system as a way to thank all of our long time and loyal users!

*Please read all about Props and the details about how it works here: *https://www.propsproject.com/