With security deposit, I Trêvoid acting as an
active intermediary, instead of holding a deposit to be distributed
after a disaster, I am integrating the escrow into the workflow.
Batch Execution: By splitting a large transaction into smaller, manageable chunks (for example according to security deposits I have $2,000 - with $10k I split into 5 swaps), I limit the blast radius. If the service stops responding, the remaining pending swaps remain in our control, effectively protecting the user from the full loss.
Addressing the "Exit Scam" Risk: To prevent the scammer from reclaiming their own escrow via fake victims. Since I am the
active intermediary, I hold the "source of truth." I do not need to rely on users to report a scam. If anything goes wrong, I will make everything public and create scam accusations.
I believe that active middleman is significantly more effective than
traditional escrow. It transforms the security deposit from a
penalty fund into a
live insurance policy , allowing me to act as a
gatekeeper rather than an adjudicator.
Source:
https://bitcointalk.org/index.php?topic=5585164.msg66813787#msg66813787
Source:
https://bitcointalk.org/index.php?topic=5585164.msg66830634#msg66830634
Mandatory Enrollment for Protection
To be eligible for reimbursement from the security deposit in the event of a scam, frozen order, or service failure, the following conditions
must be met:
- SimpleX Contact: Users must contact us via our official SimpleX address before initiating the transaction.
- Active Intermediary Engagement: The transaction must have been processed through us as the designated middleman.
- Non-Eligibility Clause: Any users who interact with the GhostSwap directly bypassing our intermediary service do so at their own risk and are not eligible for coverage from the security deposit.
Best regards,
— Trêvoid
