KLYNTAR

Understanding RWX Contracts

RWX-world contracts simple text form

Agreements between colleagues, business partners, landlords etc - just indicate it in simple text form, add to the network and be confident in the reliability of the contract.

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Roles in RWX Contracts

Decentralize conflicts resolution allows anyone to protect the deals. The users are divided into two groups:

Individuals

These users can manually engage with contracts, like following steps for contract creation and interaction.

Businesses

This group is often represented by automated systems (e.g., an e-commerce platform) that generate contract templates automatically.

Example of a User-Business Contract

A contract between a new delivery service (business) and a customer ordering a high-value item. The delivery service creates a contract promise, e.g., a delivery within 3 days. If the promise is unmet, they compensate the customer with KLY tokens.

What are the steps of such a contract ?

Contract Generation

Your business generates cryptographically signed contract templates for users to review, promoting transparency and accountability

Signing & Publishing the Contract

The user copies the contract text, pastes it on Klyntar’s website in the “User-Business” contract section, and signs it through an API wallet request. Now your contract in network

Funding the Contract

Contract side(s) deposits the agreed amount into the contract as a guarantee. After the deal - both sides release the appropriate amount. In case of dispute, these funds are locked until decentralized network will help you to solve your dispute in a fair way

Discover how to

Interact with newly created contract

Explore what to do after contact creation. Control everything just with your phone

1. Linking accounts

All participants in RWX contracts must link their Telegram accounts and EVM-compatible wallet addresses on the Klyntar website, creating unique Telegram-EVM address pairs. This linkage allows Klyntar to notify users of any contract status changes or initiate dispute resolution via Telegram.

2. Control your contracts via our bot

Check the status of your contracts, track push-notifications and initiate disputes from this bot.

3. Initiating a dispute

Just choose appropriate contract from the list proposed by bot and it will be immediately published to decentralized network of jurors for fair resolution.

4. Join the resolution process

Your dispute will be available as a separate Telegram post and all the sides of conflict will be notificated via bot. Go to post comments and join discussion process with jurors, providing them with details, proofs, etc.

important

why it's important

Here are the statistics of scams, violations and deceptions. All of this could have been avoided if people used decentralized transactions from Klyntar

43.1%

apartment rent & real estate

fallen victim as renters

$350M

loss

reported by 11,578 people

300K

hiring

job scams

74%

vehicle scams

in the first half of 2023 compared to last year