As we discussed on our last blog, Pentonium team was building an autonomous agreement protocol. We are now happy to state that we have made the Agreement executable and have started internal testing over it.
Here are the logs with the contract address deployed over KCC Testnet.
==>> Deploying Agreement Contract
==>> Agreement Contract Address: 0xa64f1929E787a07caa6f69f5d1E2Df60b1a272d0
==>> Deploying Listing Contract
==>> Listing Contract Address: 0x1E5Ff5947941e13C58FbA907b8fA71642384ACb7
==>> Deploying Marshal Contract
==>> Marshals Contract Address: 0xD816e4160E5301Bff7c57558BBe935aC80b79Bfd
The Agreement contract is an NFT contract that stores all the information of that agreement, which could be price, time duration, promise for the service, details, deliverables e.t.c. The agreement comes with an embedded Escrow contract, every time a user places an order through the agreement, an Escrow contract gets executed which stores the funds of the user till a further decision has been made. The Escrow contract handles the rest of the process like, cancelation of the agreement, delivery of the service, raising a dispute e.t.c. As the agreement is an NFT, in the future we will be adding a royalty feature to bring affiliate marketing for service providers just like an E-com business.
Listing contact is a simple contract that guarantees the agreement or proves it to be listed over Pentonium’s freelance platform. Users can always reach and verify from the public chain that if it’s been coming from the right listing partner or not.
The Escrow contracts have the functionality to talk to Marshal Contract to tell if the dispute should go to the Marshal or not, once the Marshal registers the dispute it takes care of the voting process. We have deployed a Marshal contract where Marshal’s can be added by the owner of the contract and they would be able to list all the disputed agreements from a single dashboard. They can vote on an A & B manner. If the votes reach a threshold, the winner gets announced and the Escrow contract takes care of the winner then.
All the contracts are publicly verifiable and the codes have been pushed to GitHub ( https://github.com/pentonium/autonomous-agreement-protocol ). We are happily moving forward with testing and further exploration, while a small team of UI devs is deployed to create the interaction between the contracts and the users. This is where the magic will happen and we get to see our product in action. We will keep our community updated and there will be rewards for product testing in the near future. So stay tuned!
Pentonium is a decentralized freelance platform aimed at creating a new structure for freelancing. Our motive is to eliminate the pain points of our users, clients as well as freelancers, enhancing privacy through P2P chat services facilitated by Skynet and IPFS for the storage layer. Pentonium also provides a community-based solution to create an automated dispute resolution layer around it.