What does a Smart Escrow "look like"?
A visual representation of our contracts: single-release
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A visual representation of our contracts: single-release
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This is a visualization of how our escrow contracts currently look like:
Escrow ID: This is the same as the contract address, users will send funds to this Address. (Trustline should be set)
Roles: roles are assigned to parties, represented by Stellar public addresses. Depending on each party's role, they will be allowed to sign and update the escrow status and flags. Learn more about roles here
Escrow properties:
Balance: The amount of funds currently in the escrow (deposited to escrow id)
Platform Fee: Extra fee that is sent to platform Address.
Trustline: Trustline of the token to be deposited
Amount: The expected amount expected to be held in escrow (this is a numerical value configured on deployment, not the current balance on escrow).
Flags:
Disputed: Set to true when a party raises a dispute
Released: Set to true when the release transaction has been signed and funds have been released.
Milestones:
Title: Name of the milestone. Ex: Delivery of code
Description: A description of the milestone, can also include acceptance criteria.
Status: Pending (default) - Completed (when marked as complete)
We are also working on this type of escrow contract: multi-release
Main difference being that the amount and flags are moved to the milestone, therefore you can have independent fund releases per milestone. I will reference this type of contract in our docs too as it is currently being built.
