Flambu is committed to offering the lowest fees compared to the traditional sharing economy marketplaces, thanks to the low-cost transactions on the blockchain, combined with a CashBack program backed by FLAM tokens.
The fee structure is as follows:
- The base fee for each rental is 10% from the renter and 5% from the lender.
- Both sides can have fees as low as 50% of their corresponding base fees based on the reviews they get at the end of a rental and it works as follows:
- At the end of a rental, both sides will be asked to review each other. The renter will review both the lender and the item(s).
- The quantitative part of a review is the stars in the range of 1 to 5
- The discount on the fee the renter gets is:
- The discount on the fee the lender gets is:
- The discounts are paid in FLAM as CashBack after the rental ends and only if the two sides provide a review to each other.
- Alice lists her tent for rent for US$20/day on Flambu
- Bob wants to rent Alice's tent for 5 days, for US$100
- Including the base fee (10%) Bob pays US$110 as 110 FBX
- From the 110 FBX, 15 FBX is the base fee (10 FBX from Bob and 5 FBX from Alice) and all 110 FBX is kept in escrow until the end of the rental
- When the rental ends, Alice gives a 5-star review to Bob, and Bob gives a 5-star review both to Alice and to the item
- For simplicity, let's assume 1 FLAM = 1 FBX at the moment the rental ends
- Accordingly, Alice receives 95 FBX + 2.5 FLAM, and Bob receives 5 FLAM as CashBack after the review process