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shazow
@shazow.eth
is anyone building credit card chargeback-style merchant<->consumer escrow? v1: Merchant picks an escrow oracle(s) they work with, consumers can choose to use the escrow for purchases with a small fee (1%ish?). Escrow locks payments for 7-30 days, merchant and escrow provider split the fee if there's no dispute. If there is a dispute (possibly another small fixed fee?), escrow oracle chooses winner. v2: Locked up funds can be converted into yield-bearing stablecoin equivalents (AAVE or whatever). Fees reduced to consumers, yield goes to escrow provider. v3: Locked funds are tokenized (similar to @superfluid), merchant can get risk-adjusted early liquidity from third parties if they need.
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shazow
@shazow.eth
Consumers could have preferred escrow providers as part of their account, as well as preferred lock-up periods (7 days? 90 days? fees vary), think of it like a settings NFT. The default checkout flow can remain the same, unless the consumer wants to do a one-off override for a specific purchase. Escrow providers will vary in reputation, their fees will need to compete accordingly. Eg. AMEX is much easier for consumers to do chargebacks with than most basic VISA cards, and this is reflected in the fees. Someday, credit card companies can evolve and distill themselves into chargeback escrows. I expect lots of money to be made there.
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