Smartlink powers a next-gen escrow platform for crypto users
The cryptocurrency movement is in full swing. A report from Binance reveals over 100 million crypto users, with nearly 66% of the respondents using DeFi applications.
Despite the exponential growth in crypto adopters and proliferating DeFi landscape, crypto users have limited avenues to buy or sell products/services using crypto assets. And the current solutions do not justify the innovative capabilities of the underlying blockchain technology.
Smartlink redefines how crypto users transact online through its decentralized escrow solution. And why it makes even more sense to understand the behind-the-curtains scene is its utility in lots of different use cases.
Trust-as-a-Service with a Decentralized Escrow Platform
Smartlink provides a decentralized escrow service that allows buyers and sellers to enter enforceable escrow smart contracts in a seamless way.
Smartlink library offers customizable sales agreements, allowing both parties to outline the terms of the transaction.
The seller delivers the product or service to the buyer, who, in turn, has a specific inspection period to verify the product and approve the payment.
As the underlying conditions of the agreement are met, Smartlink’s escrow smart contract processes the payment.
Smartlink offers dispute resolution through third-party, trusted arbitrators.
Use Case: Next-Gen Marketplace Web 3.0
Smartlink is creating a marketplace for a wide variety of digital and physical products, services.
Some of the potential categories include NFTs, in-game assets, OTC markets, high-value items, domain name transactions, professional services, rentals and more.
Smartlink addresses some of the gravest challenges traditional payments methods and marketplaces present for buyers and sellers.
- Smartlink cuts the commission charges from 20% to 0%-1%
- Smartlink provides an escrow and inspection period to the buyer, providing protection against fraudulent transactions.
- A smart payment milestone management service that functions as a part of Smartlink’s escrow service.
- Smartlink provides a reliable third-party arbitration service to ensure integrity throughout the transaction.
- Automatic escrow transaction rewards
- On-chain governance for voting on reward rates and critical decisions
- Smartlink is built on Tezos to minimize transaction costs and provide instant confirmations. Additionally, Tezos supports formal verification of smart contracts, which makes it the right choice for high-value transactions.
Beyond these benefits, Smartlink is building a marketplace where crypto users can directly use their crypto assets to transact.
Smartlink will support current and upcoming wrapped ERC-20 tokens as FA 1.2, allowing buyers to switch easily from one coin to another in order to use the platform.
SMAK is the native utility token on the platform
SMAK may be used to benefit from the following:
- Escrow fee exemption
- Escrow rewards
- SMAK Staking program
- Governance: Users will need SMAK tokens to participate in critical platform decisions, such as adjusting staking and escrow reward APR, development proposals, and revenue strategy.
More information on the token economics can be found here
Current Development Stage: Smartlink is live on Tezos Testnet.
Smartlink is already testing its platform on Tezos testnet. If you’re a developer, Tezos user, or crypto enthusiast, you may:
Smartlink’s token pre-sale will commence on April 29, ending on May 5, followed by the ICO. You can find out more about Smartlink’s ICO and vesting schedule here.
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