Keylinq is a DeFi solution utilizing smart contracts to improve contract payments and deposits.
DApp is live on Mumbai and Rinkeby testnet, accessible through https://www.keylinq.com/. Deployment on mainnet will be available soon.
Further instructions available on: https://www.notion.so/Keylinq-42a1e15b92aa458d9cea776e9db97ae7
Our core solution is virtual vaults in which work payment is stored in cryptocurrency, unlockable through the use of two 'keys' - one is handed over to the contractor at the beginning of a task, the other one as soon as the task is finished.
This promotes a more equitable relationship between buyer and contractor:
- Since buyer cannot retrieve the payment without the contractor's consent in returning the first key, buyers no longer have the incentive to withhold payment
- Since contractor cannot retrieve the payment until the buyer's consent in giving the second key, they are incentivized to deliver product/service in a timely manner.
We plan to introduce more customization around key ownership to accommodate different contract needs, as well as experiment with decentralized arbitration through anonymous jury. Our goal is to become the one-stop shop for contractual payments, powering commission work, housing reservation, item rental and more.
- Implement expiring keys and voting mechanisms
- Integrate with fiat on-ramp and off-ramp gateways
- Build job contracting platform