We are excited to announce that we have launched SafeEscrow, a mutually-assured-destruction type of escrow contract for use in decentralized marketplaces, on the Ethereum network. Our first application of SafeEscrow is on WaterMelonMarkets, a defi marketplace for real-world goods, including gift cards.
Our solution offers a high-trust way for users to buy and sell goods on the blockchain. SafeEscrow allows buyers to keep their funds locked up until they receive their purchased item and verify that it works, providing protection against fraud and scams. We’re not the first to use something like this, as OpenBazaar and past marketplaces have also. But our strategy is to not push technology for the sake of tech, but sell products and see what actually works for our users. (OpenBazaar was infamously Bitcoin maxi at the start which stifled innovation).
You can read more about SafeEscrow and verify the smart contract on our website. As part of our launch promotion, we are offering a discount of 45% on all gift cards while supplies last. We offer both USDC on Ethereum mainnet and on Polygon (for lower gas fees). We thought gift cards are a great first application since the crypto-gift card marketplace is rife with fraud and used gift cards, and SafeEscrow solves all of that.
We are a funded startup and are committed to building useful and reliable applications on the Ethereum network. We would love to hear your feedback on SafeEscrow and WaterMelonMarkets, or even better for you to try a product (even a small one) and tell us your experience.