Catecoin Launches Decentralized P2P Payment Web3 Protocol, Descrow

by BSC News

April 3, 2023


Descrow is an Escrow service that is 100% decentralized and operated using smart contracts.

Decentralized Escrow Payment Managed by the Community 

Catecoin has launched Descrow, a fully decentralized Peer-to-Peer (P2P) payment platform managed by the community. 

The community-based cat-themed MemeFi platform unveiled Descrow on March 30. According to the protocol’s tweet, Descrow is the “first decentralized escrow payment managed by the community.” Thus, it ensures that payments between buyers and sellers are processed using contracts without a middleman. 

Descrow works using smart contracts, and the protocol covers the steps for creating the escrow contract for the other party being paid. The payment mechanism is fully decentralized and easy to interact with. All that is required is for the buyer to deposit funds into the contract, and an escrow will be formed by imputing the seller’s email address and ERC20 or BEP20 address. 

The seller initiates the transaction from the same wallet, and once the buyer approves the transaction, it is given to the seller from the smart contract. Generally, the smart contract stores the escrowed funds, which are held until the payment is complete when the buyer confirms the transaction. 

The innovation reduces fraud risks between both parties while protecting their funds. The escrow platform currently supports Ethereum and BNB Chain addresses. Interested users should visit the Descrow website and refer to the protocol’s tweet below for more details: 

What is CateCoin: 

Catecoin is a utility-oriented meme creation and content farming platform made to help meme creators earn from their creativity. The creative meme community can share their content and earn from the community response. CATE is the native token of Catecoin, and CATE’s limited supply and burn mechanism aims to increase the token’s value offering rewards to long-term hodlers. The creative community will also be able to sell their memes via NFT minting. 

Where to find CateCoin: 

Website | Twitter | Telegram |