Points policyPoints policy

ETHAIR POINTS POLICY

  1. Platform User Points
Ethair offers reward points (“Points”) for marketplace users, whether you are a buyer or a seller. The amount of Points to be reward is calculated based on the Final Value Fee (“FVF”) that we charge sellers for successfully sold items to buyers. Presently, the FVF is 8%, but is subject to change at any time in our sole and absolute discretion.
For example, an item sold on our marketplace for $100 will be subject to an 8% fee. From that 8% fee, the seller receives 25% and the buyer gets 12.5%. Thus, the FVF is $8, the seller receives $2 in Points (25% of $8), and the buyer receives $1 in Points (12.5% of $8). As 1 Point equals $.10, the seller would receive 20 points ($.10 multiplied by 20), and the buyer would receive 10 Points ($.10 multiplied by 10).
Points are always in whole numbers and cannot be fractional. In the event that the FVF calculation results in a fractional number, we will round down to the nearest whole number and distribute Points accordingly. The Points for each sale or purchase will be displayed in each item listing page.
Subsequent to a completed purchase, and after the transaction is marked as ‘paid,’ Points have a maturation period of fifteen days; Points will not be available for use during this timeframe.
In the event that Points mature and are spent, and a return of product occurs thereafter, the Points will be deducted from each user’s account. If a user’s account Point balance is zero, then the account balance will become negative. Any future purchases that earn Points will be applied to bring a user’s negative account balance first to zero, then above zero accordingly.
Points do not expire. Points cannot be exchange for an equivalent fiat or cryptocurrency value and we do not represent that Points have any dollar value or are otherwise exchangeable for fiat, cryptocurrency, or property (other than ETHR tokens), whether through the use of our marketplace otherwise. Points can only be used on our platform.
Points have different functions. Specifically, they can be:
            a) Used to pay in part or in full for purchases;
            b) Used to pay seller fees;
            c) Used to add more Points to item listing (seller only option); and
            d) Exchanged for ETHR tokens.
Sellers can purchase Points from us. We will make available certain ‘Points Packages’ from time-to-time. Sellers may use these Points Packages to add Points to their listing items. Points Packages cannot be exchanged for ETHR tokens. Points Packages purchases contain a 10% fee.