Insurance fund

Insurance fund

Merchants can choose to lock some amount of funds in a wallet controlled by Perpetual3 marketplace smart contracts, this fund called Insurance fund will be used by our smart contract in order to enforce payments of a lost dispute, this will give more security and peace of mind to the buyer.

Purpose of insurance fund

The insurance fund gives more security and peace of mind to the buyer because it guarantees buyer protection in case of any dispute lost by the merchant, the insurance fund will be used by our smart contract in the following situation and mechanism.

• Buyer opens a case with an arbitration service, the verdict must enforce a payment to the buyer so the smart contract will use funds from the merchant's Insurance fund

Withdrawals from insurance fund

The smart contract will allow any withdrawal at any time if the merchant doesn't have any disputes opened.