Sarkhan:KrdLuXng

KrdLuXng Exchange: Empowering Sarkhan's Decentralized Commerce with THBт

Introduction:

In the bustling State of Sarkhan, a revolutionary decentralized marketplace has emerged, redefining the way residents engage in economic transactions. The brainchild of visionary entrepreneur MoNoRi-Chan, the Sarkhan KrdLuXng Exchange is a groundbreaking platform that allows individuals to buy and sell a wide range of goods and services, utilizing the secure and transparent THBт cryptocurrency as its primary medium of exchange. By incorporating the innovative Directory.TH local directory system, the exchange further enhances accessibility and convenience for users, transforming the local economy in exciting ways.

Unleashing the Power of Decentralization:

The KrdLuXng Exchange operates on the principles of decentralization, eliminating intermediaries and fostering direct peer-to-peer interactions. This revolutionary approach empowers Sarkhan residents to sell virtually anything they desire, from agricultural products and construction materials to textiles, electronics, and even cannabis. The platform encourages local entrepreneurship and stimulates economic growth by providing a space for individuals to leverage their skills, resources, and products without unnecessary restrictions or barriers.

The THBт Currency: A Secure and Transparent Medium of Exchange:

At the heart of the KrdLuXng Exchange lies the THBт cryptocurrency, designed to ensure secure and transparent transactions. Unlike traditional currencies, THBт is backed by the Thai Baht at a 1:1 ratio, instilling confidence and stability in the marketplace. By utilizing blockchain technology, the exchange guarantees the integrity of transactions while preserving the privacy and security of its users.

Directory.TH: Unlocking Local Discoverability and Connectivity:

To enhance the user experience, the KrdLuXng Exchange seamlessly integrates with Directory.TH, a comprehensive local directory system. This powerful tool allows residents to explore the vibrant Sarkhan market, locating products, services, and businesses in their vicinity with the convenience of their own smartphones. Moreover, the directory system provides detailed pricing information, including transportation costs from point A to point B, facilitating informed decision-making and enabling seamless connections within the local community.

Challenging Traditional Banking Systems:

The emergence of THBт as a local digital currency backed by the Thai Baht introduces an alternative to the centralized banking system. While the Bank of Thailand's Digital Currency (CBDC) has gained traction, THBт offers an equally secure and transparent option for residents of Sarkhan. The decentralized nature of THBт and the KrdLuXng Exchange ensures minimal intermediation, allowing individuals to have more control over their finances and fostering a sense of economic autonomy.

Conclusion:

The Sarkhan KrdLuXng Exchange, fueled by the THBт cryptocurrency and bolstered by the Directory.TH system, represents a paradigm shift in Sarkhan's economic landscape. MoNoRi-Chan's visionary creation empowers individuals, facilitates local commerce, and challenges traditional banking systems. By embracing decentralization, transparency, and the power of digital currencies, Sarkhan is paving the way for a more inclusive and dynamic economy, where every resident can participate, prosper, and contribute to the growth of the community.

Platform Agreement

KrdLuXng Exchange Platform Agreement

Draft Version 0.0.1 (4/1/2024)

This Platform Agreement ("Agreement") governs your access and use of the KrdLuXng Exchange platform ("Platform"), a service provided by Grasss Network ("Grasss"). By accessing or using the Platform, you agree to be bound by the terms and conditions set forth in this Agreement.

Definitions

• Box Lot: 10 kilograms of a specific product stored in a sealed container with a unique QR code.
• Odd Lot: Less than 10 kilograms of a specific product, represented in kilograms (kg) and equivalent to a fraction of a Box Lot (e.g., 5 kg = 0.5 Box Lot).
• Futures Contract: An agreement to buy or sell a specific quantity and quality of a product at a predetermined price on a future date.
• Settlement: The process of finalizing a transaction, including physical delivery and payment.
• QR Code: A two-dimensional barcode that stores information about a Box Lot, including product details, weight, and unique identifier.
• NFT: Non-Fungible Token (applicable in future iterations).

User Eligibility

• You must be at least 20 years old and legally capable of entering into contracts to use the Platform.
• You must have a valid bank account that can be used to deposit and withdraw funds.

Products and Services

• The Platform facilitates the buying and selling of agricultural products, including:
  • Spot Market: Immediate purchase and delivery of products.
  • Futures Market: Predetermined contracts for product delivery on a specific date.
• Products are listed by weight based on Box Lots and Odd Lots.
• Product weight may fluctuate due to dehydration; Odd Lots allow for precise purchase quantities.
• Seller listings specify when the product will be available for delivery (finalized, curing, etc.).

Transactions

• Spot Market: Buyers can purchase Box Lots or Odd Lots at the listed price using their available cash line.
• Futures Market: Buyers enter into contracts to purchase Box Lots at a predetermined price on a future date.
  • Delivery and payment occur on the designated settlement date.
• Cash lines can be deposited or replenished from your bank account (fees may apply).
• All transactions are facilitated by the Platform; product settlement occurs on-site at Grasss HQ.

Technical Details

• QR Codes:
  • Each Box Lot has a unique QR code representing its ID/NFT (applicable in future iterations).
  • QR codes are used for drop-off and pick-up order verification and product tracking.
• Platform Fees:
  • Grasss Network determines bid-ask spreads and platform fees.
  • Fees are deducted from the transaction amount.

User Warranties and Representations

• You represent and warrant that:
  • You are a certified buyer (applicable regulations may be added later).
  • You have the financial resources to fulfill your obligations under this Agreement.
  • You will not use the Platform for any illegal or unauthorized purpose.
  • You will not provide false or misleading information.
  • You will not use fake bills or transfer receipts, which will result in account termination and potential legal action.

Disclaimer and Limitation of Liability

• The Platform is provided "as is" and without warranties of any kind, express or implied.
• Grasss Network disclaims all liability for any loss or damage arising from your use of the Platform.
• Grasss Network is not responsible for the quality or condition of the products listed on the Platform.
• Grasss Network is not responsible for any delays or disruptions in product delivery.

Termination

• Grasss Network may terminate your access to the Platform for any reason, at any time, without notice.
• You may terminate your use of the Platform at any time.

Governing Law and Dispute Resolution

• This Agreement shall be governed by and construed in accordance with the laws of Thailand.
• Any dispute arising out of or relating to this Agreement shall be settled by arbitration in Bangkok, Thailand.

Entire Agreement

• This Agreement constitutes the entire agreement between you and Grasss Network regarding your use of the Platform.
• This Agreement supersedes all prior or contemporaneous communications, representations, or agreements, whether oral or written.

Amendment

• Grasss Network may amend this Agreement at any time by posting the amended terms on the Platform.
• You are responsible for periodically reviewing the Agreement.
• Your continued use of the Platform after the amended terms are posted constitutes your agreement to the amended terms.

Severability

If any provision of this Agreement is held to be invalid or unenforceable, such provision shall be struck and the remaining provisions shall remain in full force and effect.

Account Security

You are solely responsible for maintaining the confidentiality of your account credentials, including your username, password, and any API keys you may create. You are responsible for all activity that occurs under your account, regardless of whether you authorized such activity.

Warning: While The Platform offers Multi-Factor Authentication (MFA) via Authy or Google Authenticator TOTP to enhance security. However,MFA is not a foolproof way to prevent social engineering attacks. Grasss Network shall not be held liable for any unauthorized or fraudulent orders placed on your account, including situations similar to "naked shorts" (placing orders without the underlying assets).

THBт Line and Settlement

The Platform does not settle trades directly in Thai Baht (THB). Instead, it utilizes a THBт equivalent "line" system that reflects your available buying power. Abusing the line system, such as placing orders and not picking them up (similar to ordering a pizza and never collecting it), which may result in storage fees exceeding the order value and lead to forced liquidation of your holdings to recover the cost.

Governing Law and Dispute Resolution (Continued)

This Agreement shall be governed by and construed in accordance with the laws of Thailand. Any dispute arising out of or relating to this Agreement shall be settled by binding arbitration in Bangkok, Thailand. The arbitration shall be conducted in accordance with the rules of the Thailand Arbitration Institute (TAI). The decision of the arbitrator shall be final and binding on the parties and may be entered as a judgment in any court of competent jurisdiction.

Entire Agreement (Continued)

This Agreement constitutes the entire agreement between you and Grasss Network regarding your use of the Platform. This Agreement supersedes all prior or contemporaneous communications, representations, or agreements, whether oral or written.

Amendment (Continued)

Grasss Network may amend this Agreement at any time by posting the amended terms on the Platform. You are responsible for periodically reviewing the Agreement. Your continued use of the Platform after the amended terms are posted constitutes your agreement to the amended terms.

Force Majeure

Neither party shall be liable for any delay or failure to perform its obligations under this Agreement due to causes beyond its reasonable control, including, without limitation, acts of God, acts of war or terrorism, civil unrest, natural disasters, strikes, or governmental actions.

Notices

All notices and other communications hereunder shall be in writing and shall be deemed to have been duly given when delivered personally, sent by certified or registered mail, return receipt requested, postage prepaid, or sent by reputable overnight courier service, addressed as follows:

If to Grasss Network:

Grasss Network Co., Ltd.
[Company Address]

If to you:

[Your Address]

or to such other address as may be designated by either party by notice to the other party in accordance with this Section.

Waiver

No waiver by either party of a breach of any provision of this Agreement shall be deemed to be a waiver of any other or subsequent breach.

Headings

The headings used in this Agreement are for convenience only and shall not be considered part of this Agreement and shall not affect its interpretation.

Line System

Demystifying THBт and the THBт Line System

This section clarifies the difference between directly deposited THBт and the THBт "line" system on the KrdLuXng Exchange platform.

Deposited THBт (Fiat Balance)

• This refers to actual Thai Baht (THB) funds you deposit directly to your KrdLuXng Exchange account.
• It acts as "collateral" for your trading activity.
• You can use this deposited THBт to:
  • Buy products on the spot market.
  • Pay platform fees associated with your trades.

Important: KrdLuXng Exchange does not directly settle trades in THB.

THBт Line System (Rotating Credit)

• This is a virtual credit line linked to your deposited THBт balance.
• It functions like a revolving credit card with a set monthly or weekly "allowance" depending on the chosen implementation.
• Your deposited THBт acts as collateral for this line.
• You can use your THBт line to purchase products on the spot market.
• You can have a negative THBт line balance up to a certain limit.
• Exceeding this limit will trigger a margin call, requiring you to deposit additional funds to avoid automatic liquidation of your holdings (selling assets to cover the deficit).

Benefits for Users:

• Increased buying power compared to relying solely on deposited THBт.

Risks to Consider:

• Closely monitor your THBт line balance to avoid margin calls and potential losses.

Seller Collateral (Box Lots)

• Sellers deposit physical products stored in "Box Lots" as collateral for their listings.
• This ensures product availability and transparency for buyers.
• The platform prioritizes FIFO (First-In-First-Out) order fulfillment for Box Lots.

Reporting and Paperwork Reduction

Enhanced Reporting for Streamlined Operations

The KrdLuXng Exchange platform offers robust reporting features designed to benefit both suppliers and customers:

Supplier Benefits:

• Comprehensive Box Lot Tracking:
  • Each Box Lot receives a unique, scannable QR code similar to a DHL Air Waybill (AWB).
  • This code is assigned upon sealing the Box Lot in a humidity-controlled environment.
  • You can track the status of your Box Lots in real-time, from initial sealing to delivery.
• Transparency for Buyers:
  • Buyers can track the exact Box Lots they own or have ordered using the QR code.
  • This fosters trust and confidence in the product's origin and storage conditions.
• Efficient Order Fulfillment:
  • The platform prioritizes FIFO (First-In-First-Out) order fulfillment, ensuring your products are sold in the order they were deposited.
  • Odd Lot tracking allows you to monitor products resulting from weight discrepancies or partial trades.
• Reduced Paperwork:
  • Detailed reporting features minimize the need for manual record-keeping.
  • Invoices are automatically generated upon order completion.

Customer Benefits:

• Order Tracking and Transparency:
  • Track the location and status of your purchased Box Lots and Odd Lots using their unique QR codes.
  • Gain confidence in product quality with knowledge of proper storage conditions.
• Faster Pick-Up with Odd Lots:
  • Order Odd Lots in advance for faster pick-up at Grasss HQ.
  • Reduce waiting times by streamlining the preparation process.
• Simplified Pick-Up Process:
  • Dedicated pick-up windows minimize congestion.
  • Simply present your ID and the invoice QR code for a quick and efficient pick-up experience.
• Separation of Concerns:
  • The platform streamlines the process by clearly separating buyer and seller responsibilities.
  • This reduces unnecessary communication and ensures a smooth flow of transactions.

Unique Ticker Symbols for Easy Identification:

• Each supplier receives a unique alphanumeric ticker symbol (less than 5 characters) for easy identification.
• This ticker is combined with a product code to create a clear product identifier.
  • For example, Grasss Network (supplier) offering Green Crack (product) would have the identifier "GS:GC".
  • Similarly, Blue Dream would be listed as "GS:BD".

By leveraging these reporting features and clear product identification, the KrdLuXng Exchange platform empowers both suppliers and customers with greater control, transparency, and efficiency throughout the agricultural product trade process.

Big Data and AI (Work in Progress)

• The platform may collect data for AI processing in the future.
• This data could potentially be used for:
  • Suggested Tax Withholdings: Estimates for tax obligations based on your trading activity (the platform itself does not withhold taxes).
  • Personalized Recommendations: Product suggestions and insights tailored to your trading history.

Focus:

• The primary focus is on core platform functionality before implementing these AI features.

Benefits:

• Aims to streamline tax reporting and financial management for wholesale customers, farms, and distributors.
• Offers competitive fees comparable to the manpower and time savings achieved by reduced paperwork.

In summary, the THBт line system provides flexibility for buyers with a risk-reward balance to consider. Additionally, the platform prioritizes transparency and efficiency for sellers while striving to minimize paperwork burden through innovative data analysis (future feature).