Crypto Escrow - Decentralised Web3 Escrow Platform
- Uploaded : 04th May 2024
- Views : 79
How does it work?
This script will work like Upwork escrow. Every escrow has an expiration time. The buyer will create an escrow which will be shown in the buyer and seller dashboard as pending. The buyer can release payment anytime. If any dispute occurs then the buyer will request to admin to refund that escrow. Admin will investigate the issue and refund if needed before the expiration time. The seller can also refund. After the expiration time, if no dispute or release payment happens, the seller can claim the escrow funds by himself. Features?
When the smart contract deployer logs into the app then he will get a search box, where he can search by escrow id. He will be able to see all the escrows and can refund any escrow still in the pending state before the expiration date or seller claim occur.
On the create escrow popup, the system will show the estimated fee amount and escrow amount calculated from the entered amount by the buyer before creating. While creating, the app will receive the whole amount (fee+escrow amount) from the escrow creator wallet. When the escrow receives the delivered status or seller claim status the fee will be transferred to the admin/owner/contract deployer wallet and the main escrow amount will be transferred to the seller. But, on refund, the whole amount (fee+escrow amount) will be refunded.
One of the big features of this script is upgradeability. It is a UUPS upgradable contract. Check the below link to know the importance of this feature… https://docs.openzeppelin.com/contracts/4.x/api/proxy So, UUPS upgradable feature enables this script to deploy two contracts. One is the proxy and another one is the main implementation.
This script will work like Upwork escrow. Every escrow has an expiration time. The buyer will create an escrow which will be shown in the buyer and seller dashboard as pending. The buyer can release payment anytime. If any dispute occurs then the buyer will request to admin to refund that escrow. Admin will investigate the issue and refund if needed. The seller can also refund. After the expiration time, if no dispute or release payment happens yet, then the seller can claim the escrow funds by himself.
Yes, you can use it with almost all of the EVM-compatible chains including the Binance Smart Chain and Fantom chain.
The app owner can refund the fund to the buyer/1st party/escrow creator before the expiration date.
We deployed our demo application in Sepolia Testnet because other popular testnet is already deprecated and will be merged soon. So, please install MetaMask, Coinbase, or any other WalletConnect-supported wallet. Then load some ETH from Sepolia Faucet.
Youtube Video: Click Here
Demo App Link: Click Here
Online Documentation Link: Click Here
If you have any issues or queries, please feel free to mail us. Mail address support@thesoftaxis.com
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