Because SNAX is rewarding social interaction, it makes sense that it is trade P2P rather than on an exchange.
I don’t mean that SNAX should not be listed on exchanges, this will happen, of course and many will use it.
But we can start to exchange SNAX against Steem, immediatly on the Steem blockchain by following simple rules :

What information do we need to echange SNAX against Steem ?

• A place where buyer and seller can meet
• Exhange rate proposed by the buyer and the seller
• Amount of SNAX available for exchange or Steem available for exchange.

How can we solve this with no code ?

The seller of SNAX write a post on Steem including

• Proposed exchange rate
• Amount of SNAX to sale
  These 2 informations will be in the title of the post
• use the tags : snax and buysnax or sellsnax

The buyer will reply to the seller post to say if he/she is accepting his/her proposal or to make a new proposal.

Once an agreement get reached, because SNAX does not have a value yet, the SNAX seller will send its SNAX first. Then the buyer will transfer the agreed quantity of Steem to the seller.

Because both coins are on a blockchain, the community can verify that the transaction have been performed fairly.

At the beginning, a limited amount of SNAX will be sold and the risk is small. Escrows will be be publicly denounce on the blockchain in a post using the snaxescrow tag. Then an escrow service can be setup for larger quantities.

Let’s try it !!!
https://steemit.com/buysnax/@chrisaiki/buy-snax-exchange-rate-0-01-steem-snax-quantity-100-snax

Image source : https://unsplash.com/photos/9cd8qOgeNIY

You are welcome this improve this proposal.

NEXT :

https://steemit.com/snax/@chrisaiki/the-advantages-of-a-p2p-snax-steem-exchange