Formerly a user-to-user, auction based currency exchange. Sellers list their currency on the site, buyers will bid on the currency. The winning bidder is the highest bidder when the auction ends. All transactions are facilitated between buyer and seller. This eliminates the need for charging a fee and enables BitCoin users to take full control of their coins.
The exchange was announced on July 15th, to compete with the other anonymous exchanges. At some point before April 18th, 2012 the service no longer functioned as an exchange.