Inspiration
In the spirit of Web3 we wanted to create a true peer to peer trade with no third parities.
What it does
It facilitates collateralized peer to peer trade. It creates a contract which holds the collateral and once all the parts of the trade is complete then the collateral is released back to the seller and buyer.
Say there is a marketplace and the seller post a picture of a product to sell and the price, they also put up collateral into the smart contract. Then when the buyer sees the posting and wants to buy it, they pay the sales price but also put in collateral. The the seller mails the item. Once the buyer receives the item and approves everything is ok, they the buyer hits the settle button and the collateral gets released back to the seller and buyer.
We have also enabled a basic chat so they can dispute or ask questions. We also enabled a tipping mechanism where if there is a dispute one can tip the seller or buyer to balance out the dispute. Once they settle or refund the collateral is released back with the tips.
How we built it
The smart contract is running on Mumbai testnet. We use solidity and hardhat and thirdweb to deploy the contracts. We use nextjs for the frontend.
Challenges we ran into
The pre-built for Moralis gave us trouble when deploying, so we used ethers instead. We use Context to keep track of current account and change of accounts. Last but not least, we use Chainlink price feeds.
Accomplishments that we're proud of
Creating the wallet connection using only ethers. Using Chainlink for the price conversion.
What we learned
Working with thirdweb and connecting the frontend with our smart contract using ethers. Also working as team.
What's next for Settlise
test and deploy MVP and see if there is market fit. If so, ask for funding from VCs or grants or create a DAO.
Built With
- ethers
- javascript
- solidity
- thirdweb
- vercel
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