• Allows a user (Escrow Payer) to lock DAI in an Escrow Contract, which is payable to another user (Escrow Payee).
  • Escrow Payer can earn interest on the escrow amount, till the contract is settled.
  • The Escrow contract can also have a moderator, who can settle the contract in case a dispute arises.
  • The Gas cost to create an Escrow Contract can be maximum of ~2,300,000 Gas @ 6 Gwei is $2.57, depending on the features chosen by the Escrow Payer when creating the Escrow Contract.
  • Stableescrow charges a fee of 1 DAI to create the Escrow Contract, which is non refundable after the escrow is created.
  • Pressing the Create Escrow Button, will create 2 seperate transactions:
    1. DAI Approval (44,000 Gas):The app will check whether the Escrow factory contract has approval to transfer the users DAI for the escrow amount. If not, the user will have to give approval. This is done everytime a user creates a new Escrow Contract. The app does not request an infinite approval. If the user wants, they can set their own approval limit with the DAI contract directly on the main chain, in which case, this first step can be avoided.
    2. Create New Escrow Contract (~ 2,300,000 Gas):Once the Escrow Factory Contract has the necessary DAI allowance approval, it will create a new escrow contract, and transfer the escrow amount to the new contract.
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  • Only Payer:
    1. Create Escrow (2,300,000 Gas): Only the Payer can create the Escrow.
    2. Cancel Escrow (181,000 Gas): Escrow can only be cancelled before the payee has activated it.

  • Only Payee:
    1. Activate Escrow (29,500 Gas): Only the Payee can Activate the Escrow. To confirm they have accepted the Escrow Amount and if exists Escrow Moderator.

  • Only Payer or Moderator (If Exists):
    1. Release Funds (315,000 Gas): Release the Escrow Amount to Payee.
    2. Withdraw Savings (286,000 Gas): If the escrow amount was locked in DAI Savings Rate or Compound, this will withdraw the amount back to the contract. Important: Withdrawing the amount from savings will not settle the contract. It will just bring back the funds into the Escrow Contract.

  • Only Payee or Moderator (If Exists):
    1. Set New Amount (27,400 Gas): Set a new lower amount for the Escrow that the Payee will get. The new amount must be lower than the original escrow amount. The difference will be returned to the payer when the contract is finally settled.
    2. Refund Full Amount (195,000 Gas): This will return the entire escrow amount back to the Payer.

All parties get paid when the contract settles. If the escrow amount was locked in DSR or Compound, it will automatically be withdrawn to DAI and then the DAI will be transferred to the various parties.
If the Payer cancels the contract before the Payee accepts it, then the entire amount including the Moderator fee is returned to the Payer.

  • Payee: The original escrow amount or the new lower escrow amount if it was set.
  • Moderator: Moderator Fee.
  • Payer: Interest if earned. If a new lower escrow amount was set, then the difference between the original and new lower amount.

  • Allows the Escrow Payer to earn interest, while the Contract settles.
  • The interest earned is always paid to the Escrow Payer.
  • There are three choices:
    1. No: The DAI stays in the escrow contract and earns no interest.
    2. DAI Savings Rate: The DAI gets locked in the DSR pot and earns interest based on the current DAI Savings Rate.
    3. Compound Protocol: The DAI gets locked in the Compound Protocol and earns interest based on the DAI supply rate. The contract will receive the cDAI Token.