Agree Terms
How to reach an agreement you can escrow with Alright
To use decentralized escrow to protect a deal, first you must reach an agreement for your proposed purchase/sale with the other party. There are three things to agree on:
Payment amount - How much the buyer is paying the seller, in ALGO or any asset
Collateral amount - The security deposit that keeps both sides honest, in ALGO
Terms - When will payment be released
Collateral? That's right--locking collateral from both parties in the escrow ensures that everyone will act in
The amount of collateral is up to you. Ideally, the collateral should be equal to the amount of payment so that both sides have the same amount of value locked in the escrow. Less could also work, but remember that a smaller security deposit is not as strong of a guarantee that the other party will do what they say.
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