What is it?
A swapping chain is where items are grouped together based on category and approximate value in to a “pool”. Users who placed an item into the pool are allowed to choose the items that they would like in exchange for their item. Once all the choices are made the chain calculates the “chain”. This means items are distributed to members of the group based on choices. Bob sends his item to Mary, who sends her item to Jane who sends her item to Bob. When there is a large “pool” of goods for each person to make their swapping choices from, then the chances of a successful chain being calculated are high.
Each swapping chain is based on a selected category and agreed value. Each user places an item into the pool and chooses their top three choices. The allocations of the items amongst the group members are based on two factors. The first being the popularity if the item that you placed in the pool. If you placed a popular item into the pool then you should be rewarded with a favoured choice. The second is time with the people who make their selection the earliest being prioritised. A mixture of these two factors along with the choices that you make contributes towards the final allocation of the items in the pool.
The minimum is three and the maximum is 8 billion. Once the planet has more people the number will rise.
You will need to create a group first and invite users to your group. When you have a group of people you can create your own swapping chain.
There are two ways. Firstly, you will be invited to join a swapping chain by the administror of your group. Secondly you can ask to join a group by sending a “request to join” to that groups admin.
What are the rules?
Make sure you get you place an item in the chain that you know will be popular and that you make your choice early.
Yes, But with very important considerations. Tax is the most important consideration here, especially when the service that you are offering to exchange is what you derive your income from. The swapping chain would be a great tool to help groups of friends to allocate jobs and tasks in a reciprocal manner. If you are looking at using it another way for labour or services please seek advice from your accountant or tax agent.
The swapping chain is in no way binding. It is a point in time calculation of the redistribution of goods added to a pool. What you choose to do with the information provided is up to you. If you don’t like the results you can easily go back and recalculate.
If nobody wants your item, then you will not be included in the swapping chain. Only those people who have had one of their items chosen can receive an item from the pool.
Tell me about the groups
A swap meet group is for when you are together in the same room with all the people that you want to swap with. It is designed to be used on a single device and negates the need for everyone to join online.
A curated group is a group run by an admin who has a very active community of collectors or swappers. The admin of a curated group goes above and beyond to get great swapping chains happening. It is perfect for sports card collectors or any group that loves to exchange but has a need for a group leader who can activate their group. It is also a great idea for charities. The charity can hold an event using the swapping chain curated group and have everyone bring their items to the live event. The charity collects the money via online payments and the arranges for the items to be redistributed at the event.
It’s all about the uniqueness of the group and the services the admin is offering. The person running a curated group is doing a lot of work to get the group active and make the best possible swapping chains. And if it is a charity running the swapping chain events then you know that the money is going to a good place.
When you create your group, you will receive a link that can be shared via email or on your social networks. Each new user will have to create an account.