How to use guarantee transaction tool

The use of Armourtraders' secured transaction tools requires both parties to reach a consensus and operate according to the different roles of the two parties. The specific definitions of roles are as follows:

  • PartyA is the buyer role who needs to exchange tokens for goods in the transaction. He needs to create a guarantee contract and lock the Token in the contract.

  • PartyB is the seller role who needs to exchange the goods for tokens. After the goods are delivered to PartyA, PartyB can withdraw the tokens locked in the contract

To be start

Both parties should use their wallet connect to ArmourTraders,get in to the Secured Transaction page

Step 1:partyA create a contract and lock the token

Party A enters the address of Party B, selects the currency, and clicks the Create button after entering the quantity. The exclusive guarantee contract belonging to Party A and Party B will be created and the Token lock will be completed

After the block is confirmed, PartyA and PartyB will receive a notification that the asset has been locked in the smart contract.

PartyA and partyB can get the specific info in the order page

Step2:partyB check the info and transfer goods to partyA

Party B can also inquires about the guarantee contract info in etherscan

after check the assets locked in contract,partyB should tranfer the goods to partyA

Step3:PartyA confirm the receipt of goods

After party B meet the needs of Party A.Party A should sign for confirm.

Step4 PartyB withdraw assets

When partyA confirms the receipt, PartyB can withdraw assets from the contract

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