Who holds your money at each moment of the purchase
Neither the buyer nor the seller has it yet
When you confirm a purchase, the payment doesn't go straight to the seller: it's held in an escrow contract, a programmable safe that only releases the funds when a condition agreed upon in advance is met. As long as that condition isn't met, neither can the buyer take it back at will nor can the seller collect it early.
A contract's statuses
Pending
The payment is already in escrow, waiting for the seller to confirm shipment within the agreed deadline.
In transit
The shipment was confirmed and the product is on its way. Funds remain held.
Released
The buyer confirmed receipt and the contract transferred the funds to the seller.
In dispute
A claim was opened: the contract freezes until it's resolved, and neither party can move the money.
Refunded
The dispute was resolved in the buyer's favor and the funds went back to their wallet.
What happens if nobody confirms anything
Every contract has a deadline. If the seller doesn't confirm shipment in time, the contract can automatically lead to a refund or a claim, depending on what was agreed. The rules aren't improvised after the transaction starts: they're already written into the contract from day one.
What exactly we hold in custody
- The amount paid by the buyer, in the chosen currency (USDT or USDC).
- The release conditions: deadlines, required confirmations, and valid grounds for a dispute.
- The complete history of the transaction, from the contract's creation to its closing.
It's not a verbal agreement
These rules don't depend on Ikiraro's goodwill or a support team deciding case by case: they're written into the smart contract that holds the funds, the same one we keep public and verifiable before it can move a single dollar.