Buyer Protection

At Cilistia, we understand the importance of protecting our buyers from fraudulent activities. That's why we have implemented a comprehensive buyer protection program to ensure that our users can trade with confidence.

Buyer Protection with $CIL

One of the key features of our buyer protection program on Cilistia is the use of the $CIL token as collateral. When a seller opens a trade on the Cilistia marketplace, they are required to stake a certain amount of $CIL as collateral. This helps to secure the trade and protect the buyer from any potential fraud.

Furthermore, if a seller tries to engage in fraudulent activities on the exchange, their $CIL token wallet address can be blacklisted via a governance vote. This means that they will no longer be able to open trades or participate in the Cilistia ecosystem, thus further protecting buyers.

Additionally, when a trade is open, there is a 7-day time lock on the withdrawal of staked CIL, this is to ensure that the trade is completed and that the buyer is protected in case of any issues.

All of these measures work together to create a secure and safe trading environment for our buyers. We believe that by protecting our buyers, we can foster trust and confidence in the Cilistia marketplace, ultimately leading to greater adoption and growth for our ecosystem.

KYC

Upon joining Cilistia, users are not required to complete a KYC process as the protocol operates autonomously and does not collect or store private information. Unlike centralized P2P exchanges, Cilistia does not require any personal information in order to offer its services, making it a truly decentralized marketplace.

Summary

Cilistia's buyer protection program is designed to protect buyers from fraudulent activities by using $CIL token as collateral, blacklisting wallet address of the seller who tries to engage in fraudulent activities, a 7-day time lock on the withdrawal of staked $CIL and fostering trust and confidence in the Cilistia marketplace.