Cardano Escrow Protocol – ADEed is a new Escrow Protocol that acts as an intermediary between buyers and sellers. Hence, both parties are prevented from committing fraud. For clarification, the agreement contains the payment amount initiated by the buyer and seller via the smart contract. However, it will release it when the terms of the contract are met.
Cardano’s ADEed Seed Round Successfully Closed Within 8 Hours
According to an announcement by the company on November 16, ADEed, seed round has been successfully concluded and 3% of its total offering (1,500,000 ADE) for the round, interestingly, successfully closed in just 8 hours by investors from the United Arab Emirates, Saudi Arabia and China
The ADEed team attributes this success to recent recommendations to various venture capitalists, investors and incubators. At this point, the project’s private round is expected to receive a total of $1.6 million in funding to help develop the project.
Unsurprisingly, the seed round is mainly being raised by investors in Dubai and Saudi Arabia. Of course, since many countries accept cryptocurrencies, it only gets better. Not to mention that Dubai hosted a well-known “Dubai Cryptocurrency Expo 2021” and many cryptocurrency enthusiasts attended the conference. Dubai has to some extent demonstrated its commitment to advancing the crypto agenda that is currently taking shape around the world.
According to the team, ADEed will leverage the power of the Cardano blockchain to provide a multi-function protocol. Hence, it will transform the B2B, B2C and C2C markets into a safer, more efficient and more practical environment.
As blockchain evolves into conventional financial services, ADEed becomes the perfect agreement to integrate blockchain into the field of financial custody. Hence, bring the power and security of the blockchain to ordinary buyers and sellers.
Features of ADEed
Fast: With the Cardano blockchain, transaction processing takes less time to complete transactions between buyers and sellers.
Secured: The agreement protects buyers and sellers from fraud as it is secured. This creates a safe environment for doing business.
Global: Users can sell their products and services to anyone in the world.
Fully Automated: the protocol does not require any manual intervention. Instead, it will be autonomous and self-sufficient through smart contracts.
Decentralized: All data on smart contracts are available to all parties at any time. Transactions are trustworthy and transparent.