Smartlink, the decentralized escrow smart contract platform built on Tezos blockchain will list its SMAK token on the Quipuswap decentralized exchange on June 25th, between 5-6pm GMT. Users will also be able to stake the token on Smartlink’s native platform.
Smartlink is a Decentralized escrow platform built for web 3.0. The Smartlink ecosystem comprises of a decentralized escrow smart contract service, a marketplace 3.0, a launchpad for crypto projects, a payments module, and a payment milestone management tool.
In terms of how the escrow platform works is through a smart contract and the process is described here:
- 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.
It is hoped the Smartlink system will help to mesh traditional and cryptocurrency markets together in a more seemless way.
Decentralized escrow services like the Smartlink system will help to bridge the gap between traditional and cryptocurrency payments, making it easier to buy big-ticket traditional financial products with cryptocurrency.
There appears to be a number of problems that the Smartlink system can address, including the following:
- 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 SMAK Token To List On Quipuswap
Yesterday, Smartlink announced the first official listing of its token, SMAK, on Tezos decentralized exchange Quipuswap on June 25, somewhere between 5:00 PM and 6:00 PM GMT.
The listing will be accompanied by the official distribution of SMAK tokens to Smartlink’s public token sale participants which closed in May, and this will occur after the listing.
It was stated:
The primary intent behind listing SMAK is to provide potential supporters with a public platform to purchase and trade SMAK tokens. This first listing will be followed by listings across different centralized and decentralized exchanges that are yet to be announced. SMAK token will serve as a utility token and the governance token within Smartlink ecosystem.
Any transactions carried out within Smartlink ecosystem using SMAK will provide a fee reduction, exemption in some cases, and staking rewards. At the same time, SMAK token holders will be able to vote on key decisions, including development proposals, and revenue strategy.
Smartlink have also announced a staking opportunity for SMAK holders, where users will be able to participate within the Smartlink platform by locking up their tokens.
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