A year ago, we had hired a Solidity developer as a consultant to support a project from a developer Telegram group.
We discussed the requirement and agreed upon the deliverables. We paid a huge sum to him as advance payment. However, soon after that he became hostile and stopped responding to our messages. In short, he absconded without delivering what he promised.
This was not a one-time occurrence. We have suffered huge losses due to such incidents multiple times in the past.
We didn’t have any option but to try third party escrow services to safeguard our business. However, we got cheated yet again by a duped escrow agent. We were highly frustrated and started being more vocal about this issue within our network.
That’s when we realized this is a widespread problem affecting the crypto industry. Many of our peers wanted a trustworthy solution that also kept them anonymous.
This drove us to build a decentralized escrow protocol to maintain both — trust and anonymity.
That’s how Vault-X was born.
We are the ultimate escrow protocol for web 3.0. Safeguarding both buyers and sellers through our escrow vault contract!