Open Source

Multichain
Escrow Service

For Web3
Running On
     

EscrowDapp

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MARKETPLACE

What Is EscrowDapp?

An open source escrow dapp acts as a neutral third party between buyer and seller to protect both parties from potential fraudulent actions of the other.

Secure & Trustfull

Open source code, on-chain transactions with verified smart contract; safely store funds.

Multichain

Thanks to EVM compatible blockchains; we are running on TomoChain, Ethereum, BSC and Avalanche C-Chain.

Don't Trust, Verify

A decentralized escrow would be an independent mechanism that would remove the need for human interaction, or at least cut it down to a minimum. That is main reason why decentralized escrow will be the core part of the future.

You Are In Control

Advantage of decentralization and smart contract; no governing entity controls your funds, no one can prevent you from withdrawing your funds.

How It Works?

Let the algorithms talk.

The service-demander (buyer) deposits a negotiated amount of money in the EscrowDapp and demands the service to be done in a given time. The serviceman (seller) is notified of the deal and and the time period in which the service needs to be complete. Thus, the serviceman (seller) is responsible for completing the service within the negotiated time for the negotiated charge at an acceptable quality. During the entire service period, it is the responsibility of the EscrowDapp to ensure the security of the money. Once the service is completely done by the serviceman (seller), the serviceman (seller) lets the EscrowDapp know of the status of the deal. Next, it is the responsibility of the service-demander (buyer) to approve/disapprove the service done by the serviceman (seller) before the contract period ends. If the service done is approved by the service-demander(buyer), the EscrowDapp will pay out the deposited money to the serviceman (seller) keeping 1% of the money as an escrow fee charge. If the service done is disapproved by the service-demander (buyer), the EscrowDapp will hold the money unless a decision is taken by either of the party: [the serviceman (seller) improves the quality of service OR both the parties decide not to go forward with the deal]. Otherwise, at a time when an ongoing escrow has not ended, there might be a case that the serviceman (seller) doesn’t want to go further with the contract; then the serviceman (seller) requests a cancellation of the escrow. This awaits cancellation confirmation from the service-demander (buyer) upon whose positive response the escrow contract is cancelled and the money deposited in the escrow is returned back to the service-demander (buyer) keeping the 1% of the money as the escrow fee charge. If the serviceman (seller) is unable to complete the service in the given time period, the deposited money is transferred back to the service-demander (buyer) with the escrow fee (1%) being charged.


*You can check the
Detailed Schematic for more info.

*Also you can check
Guides learn how to use the apps.

FAQs

If you can't find your answer here, don't hesitate to contact us.

What is this app?

EscrowDapp is a decentralized application running over blockchain and secured by open source smart contract. EscrowDapp acts as a neutral third party between buyer and seller to protect both parties from potential fraudulent actions of the other.

What does escrow mean?

Escrow technically means a bond of trust between two parties making a service deal with each other by involving a mediator in-between. Traditionally, escrows are conducted by the involvement of a third-party which is responsible of making sure neither of the parties involved in the service deal is defaulting.

How can I connect my wallet?

You can use MetaMask to connect your wallet.

Which blockchains do you support?

You can use EscrowDapp on TomoChain, Ethereum, BNB Smart Chain and Avalanche C-Chain.

What coins/tokens can I use on this dapp?

You can use ETH, DAI, USDT, USDC, wBTC on Ethereum; TOMO, wBTC, tETH, USDT, LUA on TomoChain; BNB, BTCB, CAKE, BUSD, USDT on BNB Smart Chain; AVAX, USDT on Avalanche C-Chain.

If you don't have any, you can use popular exchanges like Binance, Kucoin or debit/credit card service.

Do you access my private key or recovery phrases?

No. We may store your wallet address but does not receive or store your wallet password, encrypted private key, unencrypted private key, or mnemonic (backup) phrase associated with your wallet.

Have you audit your dapp?

Yes, the audit done by Verichains. You can check the report.

Where do you store my money when I start a deal?

Your coin/token will be locked in smart contract.

What will happen if I dispute with buyer/seller?

Either/both of the parties might not be honest in making the deal - and this might result in locking up of one’s money in the escrow until the issue is resolved by involvement of legal authorities. If anything goes wrong; you will send us your evidence of the issue by e-mail or support ticket. We'll check them and decide that who is honest/right. If the case is not clear/certain, we can apply to professional consultants if you are okey to pay the costs. If you don’t want us to apply consultans, you'll need to sue the buyer/seller. After the case is clear, we'll refund the money to seller/buyer.

Can I use EscrowDapp for physical products and services?

Yes but there might be general problems faced by a non-electronic system like shipment etc. We advise to use EscrowDapp for digital products and services.

What are my responsibilities?

You need to follow your escrow process. If there is any requirement, you need to take actions from My Profile tab. Please check the Detailed Schematic from How It Works page to understand better. You are the only person who is liable for any losses, damages, claims related to the use of the EscrowDapp.

If you need to pay taxes to your government, you need to calculate it by yourself.

Note that; scammers can contact you via fake twitter, telegram accounts or e-mail etc. You must be aware that we will never DM you first over anywhere, we will never ask you money or we will never ask your private key/recovery phrases of your wallets.

For more, please read our Legal page.

Does this app have its own coin/token?

We don't have currently but we will consider to issue a token in the future.

Get In Touch

Join our Telegram channel, follow us on Twitter and Medium or send e-mail to engage.

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Bitcoin: bc1q8v5xkmy2ws24upg37k3tu40lmlkfeqlf7wxumj
BNB: bnb1ufa07c4sf6335up6sncae25ffnen32f4s0k6lr
AVAX, TOMO, ERC/BEP20: 0x7DD98Aaf4B979a0F265ACF1487fA9d0A85E9681a
  
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