Elektroscrow's escrow service incorporates a modest protocol usage fee, essential for the sustainability of the platform. The fee is set at 1.5% of the escrow amount, effectively translating to 0.75% per user. This fee is applied only after the conclusion of the escrow contract and is deducted from the safety deposits of each party.
Importantly, users have the flexibility to withdraw their funds without incurring this fee if they choose to do so before the escrow contract's initialization. This feature is particularly useful for users who may decide to opt out of the transaction prior to its full activation, providing them a fee-free exit option.
The implementation of this fee is critical for Elektroscrow's operational viability. It supports the platform's ongoing development, maintenance, and the provision of secure, reliable escrow services. By charging this fee, Elektroscrow ensures it can continue to offer a high-quality, decentralized escrow solution while maintaining the integrity and efficiency of its services.