Escrow Protocol’s Team answers Community questions during a Live AMA
- Justin Kommit: “By making a project which protects crypto investors, you are automatically on-boarding the whole world as it adopts crypto.”
It is needless to say that this quote fits in perfectly with Escrow’s vision of establishing the protocol as a new funding standard. Thanks to the transparency, security and direct user involvement that Decentralized Finance offers, Escrow leverages the best available practices to protect crypto users from fraudulent projects; as Blockchain integrations go mainstream, the whole world will take advantage of this and see the Escrow Protocol as the fundamental mechanism to facilitate transactions.
- Sergio Verdugo: “With Escrow’s milestone completion function investors’ funds will be safe at all times and they will not suffer from any total capital losses.”
Once again, Escrow’s technology is ahead of the game; managing to protect retail investors from the huge amounts of scammers and lying crypto teams that exist, raising funds on false promises.
- Dennis Schulte: “Once you receive millions of dollars into your bank account or wallet and there is nobody in place to hold you accountable for that, you have to be a really good, ethical person to continue being motivated and working hard for the project.”
Q: What does the Escrow Team think about the security of Polygon?
A: As Polygon (MATIC) was built from an Ethereum fork; it contains all the security advantages that the Ethereum blockchain offers. The Ethereum network has only been hacked once, and it was by one of the creators; Vitalik Buterin himself. Multiple hackathons have been conducted on Ethereum with the same result. The network has proven to be secure.
Q: What are the long term benefits of holding ESCROW?
A: Holding Escrow gives you the opportunity to participate in upcoming presales in the Escrow accelerator. In order to do this, you will need to deposit your tokens into a governance pool. The time that these tokens have been staked will determine which presale round you will be able to access (eg: holders who have staked their tokens for 5 months will be able to access the seed round; holders who have staked their tokens for 1 month will be able to access pre-ICO round…). Tokens deposited in the governance pool will also give investors voting power in the DAO (for example, this can be used to block a project’s next payout if they have not met their milestone).
Q: Why was the token migrated from BSC to MATIC?
A: In the pursuit of a chain with low fees and fast transaction speeds, The Escrow Team decided to migrate their token from the Binance Smart Chain to the Polygon chain. They thought that this new chain had more future than BSC, and preferred its truly decentralized nature. For more details, please read the full announcement here.