4. Verification & Escrow Settlement

After delivery, it’s time to settle the escrow:

The buyer reviews the delivered work. If the work meets the agreed-upon criteria, the buyer will signal acceptance (for instance, clicking “Mark as Completed”).
Once buyer confirms completion, the escrow smart contract will release the payment to the seller. The funds that were in escrow (minus any platform fees) are now transferred on-chain to the seller’s wallet instantly. The service token/NFT can be handled in a couple ways post-completion:
- It might be burned by the contract as it has served its purpose (common for single-use service NFTs).
- Alternatively, it could be transferred to the buyer as a “proof of service rendered” (almost like a receipt or a collectible proof that the service was done). This could be useful if the token doubles as a record or if the buyer might want to transfer the outcome to someone (for example, transferring the right to a delivered design to another account).
- In some flows, the token might go back to the seller (though that is less useful unless it’s a reusable token, which usually it is not in a one-off gig scenario).
If the buyer is not satisfied, they can raise a dispute instead of confirming. In that case, the payment stays in escrow and the dispute resolution process is triggered (see Security & Compliance – Escrow Enforcement for details on how disputes might be handled).
In the rare case the buyer does nothing (neither confirms nor disputes within a certain time), CRE8’s escrow contract could have a timeout auto-release feature: after X days of delivery without response, it assumes completion and releases funds. This prevents buyers from maliciously withholding confirmation to trap funds.

If everything is confirmed, the escrow is closed successfully. The seller receives their payment quickly (thanks to Solana’s fast finality), typically in the same currency the buyer paid (or converted by an automated swap if the platform allows, for example, buyer paid in USDC but seller wants $CRE8).

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4. Verification & Escrow Settlement

After delivery, it’s time to settle the escrow:

The buyer reviews the delivered work. If the work meets the agreed-upon criteria, the buyer will signal acceptance (for instance, clicking “Mark as Completed”).
Once buyer confirms completion, the escrow smart contract will release the payment to the seller. The funds that were in escrow (minus any platform fees) are now transferred on-chain to the seller’s wallet instantly. The service token/NFT can be handled in a couple ways post-completion:
- It might be burned by the contract as it has served its purpose (common for single-use service NFTs).
- Alternatively, it could be transferred to the buyer as a “proof of service rendered” (almost like a receipt or a collectible proof that the service was done). This could be useful if the token doubles as a record or if the buyer might want to transfer the outcome to someone (for example, transferring the right to a delivered design to another account).
- In some flows, the token might go back to the seller (though that is less useful unless it’s a reusable token, which usually it is not in a one-off gig scenario).
If the buyer is not satisfied, they can raise a dispute instead of confirming. In that case, the payment stays in escrow and the dispute resolution process is triggered (see Security & Compliance – Escrow Enforcement for details on how disputes might be handled).
In the rare case the buyer does nothing (neither confirms nor disputes within a certain time), CRE8’s escrow contract could have a timeout auto-release feature: after X days of delivery without response, it assumes completion and releases funds. This prevents buyers from maliciously withholding confirmation to trap funds.

Previous3. Service Delivery Off-Chain Next5. Ratings and Reputation

Last updated 3 days ago