The peach reputation system
We believe a good reputation system cannot be gamed. To underline that believe we and demonstrate our confidence, want to be open with you and lay out the basic mechanisms to help you understand how your actions impact your reputation score.
When interacting with others in a market place, it's not only important to understand if another party can be trusted to cooperate but also how well they cooperate. One can be the nicest person in the world, but if one takes a very long time to fulfil their part of the deal, one will find less trading partners who are willing to deal with.
In most platforms such information is presented in form of user ratings and reviews. Every user has a score which can be, among other, a 5-star system, up/down thumbs or a %-value between 0 and 100. Some platforms also offer users to write and receive reviews in written form. In peach, we use the 5-🍑 system and users give each other thumbs up or down.
It's not just about user ratings
In peach, we not only take user ratings into account but also look at how a user behaves overall. We do this because we found that not every trade completes and users cannot rate each other. To get more information we record specific user actions which impacts your peers: you matched an offer really fast, you get rewarded; you took a long time to match back, your score drops; you cancel a trade without warning, your score falls; you pay really fast, your score rises.
Here's a comprehensive list of actions that might impact your score:
While matching
- seller cancels offer: no impact
- seller cancels offer with match: slight negative impact
- buyer cancels offer: no impact
- buyer cancels offer with match: slight negative impact
- buyer cancels match: slight negative impact
- time until match: used to determine #fastTrader badge
- time until double match: used to determine #fastTrader badge
While trading
- buyer cancels trade: negative impact
- seller requests cancelation: no impact
- buyer rejects cancel request: no impact
- seller cancels trade: no impact
- time payment made: used to determine #fastTrader badge
- time payment confirmed: used to determine #fastTrader badge
- buyer payment timer runs out: negative impact
After trading
- thumbs up from counter party: high impact
- thumbs down from counter party: high negative impact
Disputes
- open dispute: no impact
- winning dispute: positive impact
- losing dispute: high negative impact
- resolved dispute: no impact
Cheating attempts
- fund transaction double spent: negative impact
November 21st, 2023