Planet Store

1. Planet Address Mapping Service

One of Planet wallet’s charm points is Planet Address Mapping Service(Hereinafter as referred to PAMS). The name of Planet(Hereinafter as referred to Planet) is one of essential requirements in term of the usage of the wallet.

Planet is registered through PAMS. In PAMS, Planets are divided into 2 types. 2 types have different approaches to PAMS. So Grabity offers different access methods per each types.

The first method is to register via Planet Wallet. It is Registry Type(hereinafter as referred as R-type) in which user can register their planets via Planet Wallet without the usage of GBT. PAMS includes the function that can judge whether a name is available or not to register. In other words, it can verify the process of Planet registration. Planet wallet offers the verification function which is able to use PAMS. Therefore, it is not possible to register Planets without Planet Wallet. As mentioned on the Flowchart below, Planet Wallet approaches to PAMS by using the Rest after the verification of devices with 3rd Party(FCM).

The second method is same way as Amazon lists their product on their server. It is Occupy Type(Hereinafter as referred as O-type). This function is not Registry, but Occupy as Planet can be registered through the approvals from the administrator of service. O-type Planets are blocked by administrators, so general R-type Planets can not take O-type Planets. O-type Planets will be transferred their authority to the users who satisfy specific requirements.

2. Central Market ( Sale of occupied Planet )

Central Store is the exclusive sales service of O-type Planets, so the users who are willing to purchase O-type Planets need to pay in GBT to administrators. When the amount of GBT offering is fulfilled the specific condition of O-type Planet(sale price), the preoccupation right is transferred to the user who offered. However, if the users give up the preoccupation right , the right will go back to Planet Wallet administrations.

The users who bought O-type Planets will have some changes on their Planet’s appearance when other users search the buyer’s Planet. Planet could have more unique and outstanding appearance depends on the scarcity and the degree of famous of the O-type Planet. The more unique appearance compared to others could prevent wrong deposit as it seems outstanding than other normal R-type planet and it will trigger more attentions.

3. Open Market ( Sale of registered Planet )

Planet Market-place is the system in that users can trade their R-type Planet with others. PAMS allows the defined Planet by Registry or Occupy not to be registered by another users. Therefore, no Planet can be overlapped with others. So Planet Wallet will adopt further system that users can trade their R-type Planet in GBT currency.

4. Planet Auction

Planet Auction is the sale service of O-type Planet as the expansion version of Central Store. Unlike Central Store has the fixed-price structure, Planet Auction has the price bidding structure.

In Planet Auction, Planet wallet provides the opportunities that users can take Planets which have high potentials to have high prices because of their popularity or scarcity.

The auction will be conducted in GBT and the users need to deposit in advance to participate the bidding since the balance of bidding point and purchase point could be different based on ERC20’s characteristics. So the users send GBT for bidding in advance, Planet Wallet deposit those GBT. The users can participate within deposited GBT.

When one user win the bid on bidding final schedule, the user will have 24 hours to make a final decision. If the user decided to take Planet within 24 hours, Planet wallet delivers the rest of deposit and purchased Planet to the user. If the user canceled the bidding or did not decide within 24 hours, then the Planet for sale will be deferred and the bidding will be canceled.

But, Planet Wallet give a penalty to the user who canceled or did not make a decision within the defined hours, so the user can not participate the Planet Auction for a certain amount of time. Since those penalties include cumulative information, the users who have been canceled or not decided in 24 hours more than 3 times will be exempted from Planet Auction.