- Cardano Escrow Protocol, ADEED, seed round closes within 8 hours.
- ADEED is a new escrow protocol that acts as a third party between buyers and sellers.
- The private round is expected to secure a total of $1.6 million.
Cardano Escrow Protocol — ADEED, seed round has successfully closed. The company recently unveiled 3% of its total supply (1,500,000 ADE) for the round, interestingly, it successfully closed in just eight hours by Emirate, Saudi, and Chinese investors.
The ADEED team attributes this success to the recent pitch presented to various venture capitalists, investors, and incubators. On that note, the project’s private round is expected to secure a total of $1.6 million that will aid the project’s development.
It is not surprising that the seed round was mostly raised by Dubai and Saudi Arabia investors. Certainly, with many nations embracing cryptocurrency, it is only going to get better moving forward. Not to mention, Dubai hosted a much-publicized ‘crypto Expo Dubai 2021’ that saw many crypto enthusiasts in attendance. In a way, Dubai showed its commitment towards the advancement of the crypto agenda that is currently taking shape worldwide.
According to the team, ADEED will use the power of the Cardano blockchain to deliver a protocol that will include many features. Hence, it will transform the B2B, B2C, and C2C markets into a safer environment, efficient, and practical.
With the growth of blockchain to regular financial services, ADEED will be the perfect protocol for integrating blockchain into the financial escrow space. Therefore, bringing the power and security of blockchain to regular buyers and sellers.
ADEED Features
Fast: with the Cardano blockchain, transaction processing will take less time to complete trades between a buyer and a seller.
Secured: the protocol will protect buyers and sellers against fraud because it is insured. Thereby, enabling a safe environment to conduct business.
Global: Users can sell their products and services to anyone in the world.
Fully Automated: The protocol will not need any human intervention. Rather, It will be self-governed, self-sustained by smart contracts.
Decentralized: All data about the smart contract will be made available to all parties and at any time. Transactions are trustless and transparent.
Specifically, ADEED is a fresh escrow protocol that acts as an intermediary between buyer and seller. Thus, preventing both parties from engaging in fraud. To clarify, the protocol holds the payment amount initiated between a buyer and a seller via a smart contract. However, it releases it when the contract conditions are met.
To know about ADEED, please visit their website, here.