We are thrilled to introduce OKDID - the secure, user-friendly .bit trading platform you've been waiting for!
.bit is built on CKB and uses native CKB coins for trading and renewal fees on platforms like the current did.top. Basing pricing and trading on CKB creates a barrier for new users who need to first purchase CKB before they can trade. It does not allow use of coins on other chains like ETH, USDC, USDT, etc.
OKDID supports pricing in 3 coin types: ETH, USD, and BTC. Sellers can set a price using one of those coins when listing an item.
Payment coins supported: ETH, OP ETH, Matic, USDC, USDT, USD, CNY. When a buyer goes to pay, the system will convert to the selling currency based on exchange rates and provide multiple coin options for the user to pay with what they can accept.
In addition to top-level DIDs (parent accounts), second-level DIDs (sub-accounts) are also supported for trading. Second-level DIDs currently drive many web3 communities so there is significant demand.
Unlike other web3 asset trading platforms, we do not use custodial escrow. There have already been many instances in web3 of asset loss due to compromised permissions/authorizations, and although we could facilitate custodial trades, we have chosen not to hold user assets for security reasons.
Instead, we use on-demand approval: Sellers can only authorize a transfer after the buyer sends a purchase intent. The approval API is provided by the official .bit team, has a set validity period, and cannot be revoked while the buyer is waiting to pay. After the buyer pays, the seller confirms and signs to release DID, completing the DID transfer to the buyer. If the buyer has paid but the seller does not confirm in time, the system will automatically fulfill the approval.
So in essence, as long as the buyer pays, they are guaranteed to receive the DID. If the buyer times out without paying, the approval is automatically revoked.
Throughout this process, the authorization is tied to the buyer's address - the platform cannot transfer the DID to anyone else.
We provide two methods to help sellers receive payments: smart contract collection and fiat transfer.
We have deployed smart contracts on ETH, Polygon, and OP that automatically collect a 3.5% fee when buyers pay. The remainder goes directly to the seller's payment address.
For this method, sellers need to configure fiat payment details. After paying, buyers upload payment proof. If fraud by the buyer is suspected, customer support can get involved.
Since funds cannot be transparently tracked on-chain for this payment method, and fees cannot be automatically collected, and customer support may need to intervene, we charge a one-time $10 service fee per transaction that the seller covers.
We are currently in beta with some bugs and features not yet live. Please provide any feedback so we can promptly address issues.
Website: https://www.okdid.com
Email: support@okdid.com