How does it work?
This script will work like Upwork escrow. This script will be able to interact with any type of ERC20, BEP20, or TRC20 custom tokens. Even you do not need to be the owner of that token.
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.
- Any EVM-compatible network support
- Any ERC20, BEP20, or TRC20 tokens support like USDT or USDC
- You don’t need to be the owner of that token
- 100% Decentralized
- Admin fee support and profitability for the Owner.
- Web3 Supported Sign-In System
- Refund, Expiration time support
- QR code support
- NDA, Agreement doc upload to IPFS
- Solidity Contract Included
- Industry-leading Openzepplin Solidity Library
- UUPS Upgradable Contract with no data loss
- Gas Optimized
- Speed Optimized
- Re-entrance guard security
- Well Tested
- IPFS and Filecoin Object Storage
- Multiple IPFS gateways
- Native Infura support
- Public RPC URL’s available
- Moralis and Custom RPC can be used also
- Paginated Response
- Realtime Data Fetching
- Used industry-leading frameworks and libraries
- Developed using TypeScript, React, NextJS
- No Backend, No Database
- Dedicated MetaMask, and Coinbase support
- More than 170+ Wallets through WalletConnect
- Elegant Design
- Well Documented
- Lifetime updates
How can the admin settle the issues?
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.
How does fee setup work and how can the admin harvest the fees?
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.
Why are two smart contracts deployed?
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.
Who will verify escrow work is done how will the user convey msg that the work is done and release payment?
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.
Guys do you have this solution in BSC or FTM?
Yes, you can use it with almost all of the EVM-compatible chains including the Binance Smart Chain and Fantom chain.
What happens if there is some sort of dispute between the two sides?
The app owner can refund the fund to the buyer/1st party/escrow creator before the expiration date.
Demo & Support
We deployed our demo application in Binance Smart Testnet and used this USDT token. So, please install MetaMask, Coinbase, or any other WalletConnect-supported wallet. Then get some BNB to pay the gas fees and USDT tokens from Binance Smart Faucet.
Youtube Video: Click Here
Demo App Link: Click Here
Online Documentation Link: Click Here
Deployed Contract On Binancescan: Click Here
If you have any issues or queries, please feel free to mail us. Mail address email@example.com