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FAQ & Resources
Mellifex's questions and answers below serve as a resource that should help maximise the use of the platform. These questions arose from users after a comprehensive examination of the system. If you think a certain topic is not covered enough, please contact us so that we can add an answer on the subject.
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Do I need to register or login?No, Mellifex's approach is not that of your typical web 2.0 account. Here you permissionlessly access with a rather unassuming email and authenticate with a wallet. "Quantum accounts" are disturbed by the act of observation (Heisenberg). So, if unauthorised parties (or you under duress) connect using the "wrong" wallet, it will access a parallel universe within your account without the escrows.
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Wait! Escrow for wallet-to-wallet?Yes, Mellifex does not see itself as a "financial love hotel", but a "financial condom" that makes wallet-to-wallet transactions safer, by virtue of protecting the wearers from FTDs (Financially Transmitted Diseases) like wire fraud. All of which was exacerbated with the crypto revolution, given a blockchain's public ledger is not mutable by design, making such transactions irreversible.
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What is our ideal transaction like?You can use us for transactions of any value, so we will be happy if you feel like starting small to test the waters. However, we do believe our escrows will be specially useful for items you intend to purchase online, costing enough that you would literally cry if lost. Also, in terms of cost, we stack favourably against other competitors (including fiat ones), as they are 5x more expensive than us.
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What wallet providers can I use?Any of the 100+ compatible with Wallet Connect (most popular wallets are), you can check the comprehensive list here. So it is highly likely that your personal favourite can be connected with Mellifex right away. This requires little to no behavioural changes on your part, unlike changing to a wallet you are unfamiliar with. We want our "financial condom" to be as widespread as possible.
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How Mellifex negates gas fees?Gas fees are a necessary reward that creates an incentive for validators to do their job good and fast, but until recently, public blockchains like Ethereum struggled with getting it done cheaply. This is why Mellifex chose the Polygon Network as the layer-2 (L2) scaling solution for its escrows. L2s roll up thousands of transactions together using zero-knowledge proofs at the cost of 1 transaction.
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Why non-custodial smart contracts?Organisations are often subject to a combination of internal and external forces that rarely align with the best interest of their clients. This is why we are obsessed with making our SaaS as open and non-invasive as possible. As a product, Mellifex's proprietary contracts can and sometimes will refuse to work with certain wallets (based on legitimate grounds), but we cannot seize cryptoassets.
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Can I amend my deployed escrow?No, you can amend pre-created escrows, but bear in mind the moment one gets fully created (aka deployed on Polygon), changes are no longer possible. It is important you fill the escrow creation form with caution, as only the wallet addresses you input will be able to programmatically interact with your escrow and there is nothing Mellifex can do about it if the information was not correct.
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Will timelock avoid arbitration?For all intents and purposes, arbitration is administered by the Blockchain Arbitration Society (BAS), which is entrusted with the appointment of the arbitrator or arbitrators. For lower value transactions of less than $10,000, we force timelock setting, as to avoid situations in which case hearings prior to issuance of an arbitration award would be uneconomical for the BAS to provide.
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Who is the default arbitrator?For all intents and purposes, arbitration is administered by the Blockchain Arbitration Society (BAS), which is entrusted with the appointment of the arbitrator or arbitrators. For lower value transactions of less than $10,000, we force timelock setting, as to avoid situations in which case hearings prior to issuance of an arbitration award would be uneconomical for the BAS to provide.
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How to present arbitral proofs?Mellifex has an email forwarder for the buyer-seller to communicate, e.g. Sending messages and files of which Mellifex keeps an encrypted copy. Copies self-destruct once the escrow is completed, that is, without pending disputes. Should you give this mandate to the arbitrator, then, he will use his wallet to decrypt your communications for that particular escrow and execute his arbitral award.
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Are milestone payments possible?For the time being, this hybrid escrow feature is only available upon request to selected partners, together with a few other new features we are experimenting with. We plan on this going 100% mainstream in the near future, acknowledging its relevance for supply chain operations, but in the meantime you can contact us to learn more or if you are seeking your own custom API integration.
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Are NFTs intended as securities?Some of our marketplace tools will allow for bidirectional escrows, e.g. Swapping USDC for an NFT. Where that is the case, NFTs are not intended as securities in any way, shape, or form, and are only to be treated as documentary proofs of the transaction, e.g. Proving ownership. Ownership will not necessarily be transferable, so when in doubt, please, do yourself a favour and ask a pro lawyer.
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Why was my address blacklisted?Mellifex is a law-abiding corporate citizen whose escrows rely on non-custodial smart contracts. This means that, even though we lack the technical ability to seize anybody's crypto and/or NFTs, we can and will conduct 24/7 web scraping of official government blacklists. Therefore, preventing the wallet addresses of any known bad actor from functioning with any of our proprietary contracts.
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How to set my wallet for Polygon?This depends on who your particular provider may be and we advise to always double-check here, but, if you are using MetaMask: "In the Settings tab you can add 'Polygon Mainnet' in the Network Name field, URL 'https://polygon-rpc.com/' in the New RPC URL field, '137' in Chain ID field, 'MATIC' in Currency Symbol field and 'https://polygonscan.com/' in Block Explorer URL field".
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