Roles in Trustless Work

Let's understand what each role represents!

Escrows involve multiple parties, which in our case are addresses. Each address is assigned one or more roles, which define which actions this party can do in the Escrow Lifecycle. Anyone can deposit funds into an escrow, but the escrow status is changed by predetermined steps, which are initiated and signed by the corresponding roles.

Roles are marked in black

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Roles, Parties, and Their Functions

• Roles: Each role has a distinct function within the escrow process, such as approving milestones or releasing payments.

• Parties: These are the entities or individuals assigned to one or more roles, such as buyers, sellers, or platforms. They interact through a Stellar wallet for signing any interactions with the escrow. Only addresses with assigned roles can interact with the escrow.

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Roles:

1. Approver

• Function: Approves or disputes milestones marked as completed.

• Examples:

  • Buyer in a freelance marketplace approves the deliverable marked as done by the freelancer.

  • Host in a security deposit scenario approves the checkout marked as done by the turist.

  • Platform in a crowdfunding campaign approves milestone marked as done by the company.

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2. Service Provider

• Function: Delivers the product, service, or objective set on milestine. Marks milestones as completed and ready for approval.

• Examples:

  • Freelancer delivering a service and marking it as complete.

  • Company updating crowdfunding milestones and marking as complete.

  • Compliance department marking a withdraw complaince check as complete.

  • Real Estate inspector marks the house inispections as complete.

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3. Release Signer

• Function: Approves the release of funds for the amount set.

Release currently works as following: -All milestones need to be approved for payment to be released, since we are setting 1 amount for the whole contract. (Single-release) There will be a multi-release, where: Each individual milestone will have an amount, each amount can be individually released when approved.

• Examples:

  • Airbnb (platform) releasing a deposit.

  • eBay (platform) releasing payment to a seller.

  • DAO releasing a payment to a contributor

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4. Dispute Resolver

• Function: Resolves disputes by adjusting milestone amounts, updating status, or canceling the contract.

• Examples:

  • Platform (eBay, Airbnb) acting as arbiter for a deposit because turist broke something redirecting deposit to host.

  • Independent third-party arbitrator setting a new milestone price for an project milestone.

  • Cenceling an escrow amount and redirecting funds back to Client.

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5. Platform Address

• Function: An address designated to receive the platform fee, a percentage or fixed amount of the total funds processed through escrow. Platform can also update a milestone while it's status is still pending.

• Examples:

  • Airbnb collecting platform fees.

  • Crowdfunding platform taking a fee from funds raised.

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6. Receiver - Final Recipient

• Function: The final recipient of funds after conditions are met or disputes are resolved.

• Examples:

  • Freelancer receiving payment.

  • Turist receiving a security deposit.

  • Company receiving funds