Real World Marketplace

Hub Proposals Proposal Ideas
1

Hello Everyone,

I’ve been using MoneroMarket a good deal and thought it would be cool to build a version of that for Cosmos now that CosmWasm is coming to the Hub.

Idea
The basic economic engine would be a CosmWasm smart contract that had messages for creating posts, editing posts, deleting posts, and signing off for funds release. The actual listing data would be stored on IPFS. For example, Party A would create a listing selling a chair. They would supply a picture, title, description, and set their price, say 5 $ATOM. Upon creating a listing, the CosmWasm contract would supply an iterative Post ID to the listing which would be stored on the contract along with the listing price and returned IPFS link.

Diagram:

Screenshot from 2024-09-03 20-21-12
Screenshot from 2024-09-03 20-21-12707×854 59.5 KB

When someone purchases an item, they send their funds to the smart contract address. When the seller sends the item, they click a button marking the item as sold, which is stored along with the post id in the smart contract. Once the buyer gets the item, they click a button acknowledging receipt which also signs the message releasing funds from the smart contract to the seller. Each message would need 2/3 signatures to release funds, with the third signature being the constract instantiation address (mine or multisig) for arbitration of disputes.

Let me know your thoughts. I think this could drive some use case to the Hub and I’d enjoy making it. From a technical perspective, it will be a relatively simple smart contract lift (I know Rust) with a prioritization for auditability. I’m not a UI guy, but maybe someone else could help with that part.

Edit: I added the diagram to IPFS. I can’t include links or embedded images. To view, you can change hxxps → https and view the diagram.

1 Like
3

Hi, Reasonant.

Interested to see how this idea is received. Sounds like a craigslist sort of deal?

Wishing for your idea’s success and if anything, becoming an ICS1, or later version chain, assuming you’re interested in contributing back to ATOMs long term growth.

Cheers.

4

Hey @FHZ, yeah sort of like a craigslist sort of deal except trades would be settled in ATOM through the CosmWasm smart contract I would create. Since this would be a smart contract deployed on the hub, it wouldn’t be its own chain and therefore we would not need to pursue ICS. Hope that clears things up, and if not please ask follow-up questions!

Edit: I also added the flow diagram of how this would work to IPFS in the original post, so maybe that will help clear things up too!

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