Liquidation process & Conflict Resolution
The transparency and security provided by blockchain technology can help users feel more comfortable participating in raffles. Because the smart contract manages the raffle and ensures fairness, there is no risk of manipulation or fraud. This can help build trust between WOX, users and sellers, and make the overall experience more enjoyable and engaging.
Nevertheless, to ensure smooth transactions between buyers and sellers in raffles, WOX has established a liquidation process and a conflict resolution system. Once a raffle is executed and a winner is determined, a private chat opens between the seller and buyer so that they can coordinate delivery or pick-up. After the seller marks the product as delivered, the buyer needs to confirm that the product was received as expected. Then the raffle is closed, the money is made available for the seller, and the collateral is freed.
However, if the buyer is not satisfied with the product, they have the option to file a claim. In this case, the support team will freeze the liquidation process and work to resolve the issue. Furthermore, if the seller does not deliver the product within the time frame that they specified when creating the raffle, the buyer can also file a claim.
While the chat is open for the parties to coordinate before a claim is filed, it will be closed once a claim is made. At that point, the support team will take over and coordinate with each party to resolve the conflict, and all assets will be frozen.
It's worth noting that the liquidation process for web3 raffles, standard bets, and lotteries is automatic. In the case of special bets, the arbitration process explained in another section will be used to settle disputes. With these processes in place, WOX aims to provide a secure and trustworthy platform for users to engage in raffles, bets, and lotteries.
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