Ninjastic
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Re: [ANN][ICO] 🔵 UTRUST 🔵 The future of online payments is here.
by
cantdecide
on 29/09/2017, 11:07:38 UTC
Quote from: niklasmato on September 29, 2017, 08:17:43 AM
Quote from: Rigorous on September 28, 2017, 10:18:41 PM
Quote from: Nargiza on September 28, 2017, 09:41:01 PM
Quote from: Rigorous on September 28, 2017, 08:52:40 PM
Quote from: Nargiza on September 28, 2017, 08:49:17 PM
Hello again sorry that I am a little bit annoying today. But I don't fully understand. WP page 18 last paragraph about refunds? So if buyer will be refunded the fees will go to 2 % it's correct?

The way I read it, there will be an additional fee of 2% on top of any other fees. I think that 2% fee is used to (partly) cover the cost of the UTRUST operator.


So the buyer loses its 2 % even is not his/her foult  Huh

Yep. That is how it is described in the illustration. The buyer pays 2% resolution escalation fee regardless of whose fault it was. I suspect that is because the smart contract is designed like that it takes a portion of the escrowed money. The seller did not put any money in escrow, so there is no money to take a fee from.

It's not really fair towards the buyer but I do understand why Utrust needs to do this. Besides I've read in the Whitepaper that the seller will get some punishment as well. So it's kinda fair.


Well I also can understand that this is somehow needed, but I think there should be a better solution. I mean, why should someone pay for something he has no fault in? That's, in my eyes, the wrong way, even if the seller in this situation will get a negative feedback then.