Empowr New Announcements
Happy holidays everyone!
Last week, JC announced that soon, your empowr balances would be stabilized so that the value of your balance remains the same regardless of the empowr coin price.
Today I’m happy to announce that those features are ready to go live.
Over the next 24 hours, you’ll notice a series of updates across the site including:
1. The stabilizing of your balance
2. Displaying prices in your local currency
3. Marketplace listings on-hold
Let’s discuss what you can expect as a result of each.
The stabilizing of your balance
As discussed in JC’s post, the empowr engineers will be putting in place the functionality that allows you to maintain the value of your coin balance regardless of the price of the empowr coin.
What you can expect
Every time you earn coins on empowr, your earnings will now maintain the same value regardless of the empowr coin price. This includes your founder coins and legacy coins.
If you are viewing your balance in empowr coins, you’ll notice that the number of coins in your balance will increase or decrease as the price of the coin fluctuates. If you are viewing your balance in your local currency (such as U.S. Dollars), however, your balance will remain the same regardless of the price of the coin.
Now you can be confident that every time you earn (from selling, coaching, hitting your goals, etc.) that the value of your balance will never fluctuate based on the price of the empowr coin.
Don’t know how to change the currency displayed in your balance? Just click the down arrow next to your balance at the top of any page and you can select from over 100 currencies:
Displaying prices in your local currency
In addition to stabilizing everyone’s balances, the empowr engineers will also be updating the pricing logic across the site to display the price of almost everything in your favorite local currency (instead of in empowr coins):
This update will not only make the site more user friendly for buyers, but it will also make it easier for sellers to price their listings competitively because they have full control over the cost of the item without any fluctuations due to the empowr coin price increasing or decreasing.
Marketplace listings on hold
With the value of your balances now intact, and the pricing of everything displayed in your local currency, we will need to reset all marketplace activity prior to December 26th so that there are not any conflicts with listings previously priced in empowr coins versus listings priced in another currency.
What you can expect
A. Marketplace listings are now displayed in your local currency
When you create a new (or edit an existing) marketplace listing, you can now store the pricing information for that listing in your local currency.When your listing is viewed by others on your profile or in the marketplace, they will see the cost in their own local currency based on the real-time conversion rate.
B. All marketplace listings have been paused
All active fixed price and auction listings will soon be paused, and the pricing for each listing will be set to the minimum possible price in your currency.
To make your listings active again, simply visit your I’m Selling page, click on the listing you want to publish, and update your pricing data at the amount you wish to sell each item for.
C. Sales and refunds will be added to your legacy coin balance
Any amount earned (from “item received” or refunds) from sales that were initiated prior to December 26th will be automatically added to your legacy coin balance. From there, your coins will retain their value and you can release them to your main coin balance at any time.
Any coins earned from sales initiated after December 26th will continue to be added to your main coin balance as they are earned.
And that’s it!
With your balances now stabilized, the empowr as you know from JC’s last post, engineers are moving their attention to some very exciting marketplace features that will make it BOTH 100 times easier for shoppers to find the products that they want, AND the same for sellers to earn profits. Stay tuned for full details on that soon!
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