🤝Settlement
Once the tokens are released by the project, the settlement period starts and lasts for 24 hours.
For Sellers:
The Seller is required to settle tokens before the settlement deadline expires (24 hours from token release).
Once
settled
, the Seller will automatically receive both their initial collateral and the Buyer's deposit (within the same transaction).
Be aware that once your settlement period is over and you have not completed the settlement (through signing the transaction), the buyer could claim compensation from your collateral from the smart contract.
You will risk losing your funds if you fail to settle in time.
For Buyers:
Once the Seller has
settled
, the Buyer can visit their dashboard and claim the project tokens, if the proof-of-collateral NFT is held in the same wallet.If the order status is
Forfeit
, it means the Seller has defaulted. In this case, all of the Seller's deposit will be proportionally distributed to all Buyers, alongside a refund of the Buyer's original deposit.
Example 1: a seller submits an order worth $1M order for 1,000,000 Points. The order is partially filled, with only 1 buyer filling $10 for 10 Points.
In this case, the sell order is 99.9% unfilled, 0.01% filled.
Example 2: a seller defaults on a $1M order for 1,000,000 Points with 2 buyers filling (i) $10 for 10 Points and (ii) $5 for 5 points.
Last updated