How can one make effective use of the Excrow?

[otto93]

Excrow are defined as a third party that guarantees safe exchange of goods and services between other agreed parties under description.

Of late excrows are considered as the secured guarantee for safe payment of bounty rewards to bounty Manger and then bounty hunters.

But then a couple of this projects think they are so smart that even a night before an IEO, they do change the smart contracts of their tokens rendering whichever token in excrow worthless.

So i suggest that excrows should not only hold the tokens but also be given usdt value of the tokens as well, so that incase it turns out in the wrong direction the usdt can cater for it..

Your suggestions?

[asriloni]

So i suggest that excrows should not only hold the tokens but also be given usdt value of the tokens as well, so that incase it turns out in the wrong direction the usdt can cater for it..

Your suggestions?

I may agree with this but it's not only USDT that can be considered as a native token to be used to pay the hunters. I think that bitcoin or ethereum could also become good choices too.
Sometimes the team was swapping the token without tell anything to the manager or the hunters.
The escrowed money can decrease the possibility for the team to make the token became worthless but the difficult thing must be how the team can do this.
The only thing that can be done by the manager.
This suggestion should be sent to the manager

[otto93]

So i suggest that excrows should not only hold the tokens but also be given usdt value of the tokens as well, so that incase it turns out in the wrong direction the usdt can cater for it..

Your suggestions?

I may agree with this but it's not only USDT that can be considered as a native token to be used to pay the hunters. I think that bitcoin or ethereum could also become good choices too.
Sometimes the team was swapping the token without tell anything to the manager or the hunters.
The escrowed money can decrease the possibility for the team to make the token became worthless but the difficult thing must be how the team can do this.
The only thing that can be done by the manager.
This suggestion should be sent to the manager

Thank you for your submission but I choose usdt or any stable coin because of their stability. We all know bitcoin and Ethereum are volatile!

[crwth]

I'm not sure about what you are talking about but do you mean Escrow? After a couple of Google searches of "Excrow" nothing is really showing up related to that word but "Escrow". I think you should fix your wordings as well.

Anyways, there's nothing you could do about that but to believe that "that" token will have value in the end. I don't think they would be able to give that amount unless their token has a value already. Possibly, the developers are working to make their tokens valuable, unless that happens, they have no USDT to give. That's just what I think.

So what you want is some kind of a fixed USDT payment for your work?

[Hallmader]

That would be the best way for an escrow of useless tokens, especially ones which involve the developers themselves since they are in control of the smart contracts of their very own tokens.

But if this happens, it means the project is as worthless as their tokens. So there's not much to lose in this situation. If they cheat even in their bounties, that is very low of them. I cannot see how they would succeed when they would even cheat a tiny amount from the people who are very much part of their larger community.

[DoubleAweSeven]

I wish bounty campaigns just pay us solid USDT instead of tokens because that's the safest way to say they are legit and will be honest to pay us bounty hunters. If they somehow really change the smart contract without informing everyone, then that proves they are scamming people and should be avoided.

[Rowenta]

Excrow are defined as a third party that guarantees safe exchange of goods and services between other agreed parties under description.

Of late excrows are considered as the secured guarantee for safe payment of bounty rewards to bounty Manger and then bounty hunters.

But then a couple of this projects think they are so smart that even a night before an IEO, they do change the smart contracts of their tokens rendering whichever token in excrow worthless.

So i suggest that excrows should not only hold the tokens but also be given usdt value of the tokens as well, so that incase it turns out in the wrong direction the usdt can cater for it..

Your suggestions?

Not all new projects team swap their smart contract after escrow promotions, majority of them keeps their promises, if any new project practice such I will reject them instantly if I'm a bounty manager to safe bounty hunters from unnecessary stress and waste of time, it means that the project team can't be trusted, they are probably scammers.

[Squezzi55]

It's good to get paid in USDT from bounties to avoid cheats but lack of volatility isn't always good because there are few high quality projects that skyrocket after listing on good exchanges, bounty hunters will miss the chance of getting more rewards if they are paid in USDT, here is a good example, the IEO price of DIA token is 0.4 to 0.5$ and when bounty hunters get paid it's price is from 1$ to 1.7$, can you see the difference? If bounty hunters are paid in USDT I'm sure the reward won't be this big.

[bittick]

That's true. There's just too much exploit available for the developers if the escrowed money are in form of the project's coin. That's why it's heavily recommended to use some kind of stablecoin or an already existing coin that gives no opening in attempt of exploiting the escrowed fund. I think the escrow should always check the contract address aswell and if there's project really changes the contract address before last second of IEO opening as you implied then the escrower should gives warning to the people or the exchange platform from scam attempt.
It's just always best to use stablecoin for escrow at that point.

[Festac]

Excrow are defined as a third party that guarantees safe exchange of goods and services between other agreed parties under description.

Of late excrows are considered as the secured guarantee for safe payment of bounty rewards to bounty Manger and then bounty hunters.

But then a couple of this projects think they are so smart that even a night before an IEO, they do change the smart contracts of their tokens rendering whichever token in excrow worthless.

So i suggest that excrows should not only hold the tokens but also be given usdt value of the tokens as well, so that incase it turns out in the wrong direction the usdt can cater for it..

Your suggestions?

Getting paid in USDT can only solve tokens becoming worthless or avoid dumps, that's not bad idea but I don't want to get paid in USDT, injective protocol bounty campaign paid participants in 30,000 USDT but it's token (INJ) is over 1.30$ today, sometimes it's just better to get paid in tokens instead

[GreatArkansas]

One of the best things to do to not get rekt by these kinds of bounty campaigns is checking first their Terms Of Services, especially in their bounty campaign, you should check if there is term that they are allowed to change the mode of payment for their bounty campaign or changing smart contract beside from escrowed token is allowed. Because if so, you can't accuse them for scam project.
Speaking of in USDT rewards for bounty campaigns, it's really difficult to find bounty campaigns that are offering some stable coins as mode of payment.

[dhemasm]

Good Concept but collateralizing like USDT or Other Major altcoin i suppose it's little bit hard, The purpose of bounty campaign it's to gain more audience and attract more investor and the project in the first place didn't have that big amount (Project with equivalent more than $100k US on their campaign pool) so i suppose it's ok using their currency for paying us since We agreed to participate beforehand. For Escrow it's also effective but yeap sometimes bad things happen, Let's say the project was giving the token too Escrow Address and at the end of Bounty Campaign they are doing Fork or migration to new Smart Contract (For Ethereum Based Project) And it become worthless.

Basically it's simple, Don't join if you don't trust the project and we can ever predict what will happen next if you want more safe maybe joining Campaign that paying with Bitcoin or other Altcoins like some campaign on Services Section, there will always be two sides and different perspectives. Be careful and DYOR!

[joseyphil82]

I believe in tokens more than USDT because you can make more profits from tokens than USDT due to lack of volatility, also majority of bounty campaigns with USDT rewards have very low bounty allocations, some don't even use limited participants and in the end you will only get few dollars due to too many participants

[Bitbtc8]

Many projects have disappoints many bounty hunters this year, I get it but the few projects that performs better this year don't use any Escrow, the projects that use Escrow this year aren't that successful and few still end up scamming bounty hunters, I like the idea of using stable coins to pay but the reality is not all new projects that afford paying bounty hunters in stable coins when they haven't raise any money yet

[Stanlo]

I wish bounty campaigns just pay us solid USDT instead of tokens because that's the safest way to say they are legit and will be honest to pay us bounty hunters. If they somehow really change the smart contract without informing everyone, then that proves they are scamming people and should be avoided.

If projects decide to pay bounty hunters in USDT the campaigns must be limited, many USDT paying campaigns allowed to many people to join and later you get 10$ for months of work, I've experienced this from bounty detective campaigns, honestly is very important in crypto space, new projects don't need to pay hunters in millions, limited participants and fixed allocation is even a plus

[otto93]

I'm not sure about what you are talking about but do you mean Escrow? After a couple of Google searches of "Excrow" nothing is really showing up related to that word but "Escrow". I think you should fix your wordings as well.

Anyways, there's nothing you could do about that but to believe that "that" token will have value in the end. I don't think they would be able to give that amount unless their token has a value already. Possibly, the developers are working to make their tokens valuable, unless that happens, they have no USDT to give. That's just what I think.

So what you want is some kind of a fixed USDT payment for your work?

Thank you for digging this out man, I accept and agree to check my wording in my next posts
But you don't want me to belive in a token that has change its  smart contract prior to payment day?

[didzi]

Excrow are defined as a third party that guarantees safe exchange of goods and services between other agreed parties under description.

Of late excrows are considered as the secured guarantee for safe payment of bounty rewards to bounty Manger and then bounty hunters.

But then a couple of this projects think they are so smart that even a night before an IEO, they do change the smart contracts of their tokens rendering whichever token in excrow worthless.

So i suggest that excrows should not only hold the tokens but also be given usdt value of the tokens as well, so that incase it turns out in the wrong direction the usdt can cater for it..

Your suggestions?

thats right, usdt can be the right choice to reduce the scammers, because even we use an escrow to hold the rewards but new problem will come if the project change the contract address, just like words above, so payment in usdt or in ethereum or bitcoin could be a great idea

[otto93]

One of the best things to do to not get rekt by these kinds of bounty campaigns is checking first their Terms Of Services, especially in their bounty campaign, you should check if there is term that they are allowed to change the mode of payment for their bounty campaign or changing smart contract beside from escrowed token is allowed. Because if so, you can't accuse them for scam project.
Speaking of in USDT rewards for bounty campaigns, it's really difficult to find bounty campaigns that are offering some stable coins as mode of payment.

Thanks for the the headsup and also I hope when this incedents and irregularities are forseen, let the bounty managers listen when they are advise against such practices

[Slingshot]

Well, the best way of doing something without having to think twice us when it's being esrowed by 3rd party. Just like bounty, many project owners have disappointed hunters by not paying after work was done. With bointy being escrowed by sinxer bounty manager, users are sure if their payments than double mind.

[Hallmader]

Well, the best way of doing something without having to think twice us when it's being esrowed by 3rd party. Just like bounty, many project owners have disappointed hunters by not paying after work was done. With bointy being escrowed by sinxer bounty manager, users are sure if their payments than double mind.

Escrow is always held by a third party. It cannot be possible for an escrowed fund to be held in escrow by either of the parties involved in the transaction.

OP is having problems and troubled by escrowed funds held by third parties such as bounty managers because the owners of the token themselves change the smart contracts of their own tokens. That means previous tokens are becoming useless and worthless. So it somehow makes the use of escrow useless as well.

[Greatdev]

Escrow is good but not a must, you can even miss many good projects if you force escrow on new projects because I've heard few reputable bounty managers complaining that even high quality bounty projects don't want to accept Escrow, the moment they talked about Escrow the team will stop replying and find another bounty manager that don't care about Escrow

[kidbounty]

Excrow are defined as a third party that guarantees safe exchange of goods and services between other agreed parties under description.

Of late excrows are considered as the secured guarantee for safe payment of bounty rewards to bounty Manger and then bounty hunters.

But then a couple of this projects think they are so smart that even a night before an IEO, they do change the smart contracts of their tokens rendering whichever token in excrow worthless.

So i suggest that excrows should not only hold the tokens but also be given usdt value of the tokens as well, so that incase it turns out in the wrong direction the usdt can cater for it..

Your suggestions?

 don't have to. because if there is such a problem, the proceeds from the sale of tokens are still in Excrow's hands. So whatever the project team does they get nothing. so the project team doesn't have to provide any kind of collateral like USDT or any other stablecoins. they just pay the Excrow service fee.

[Dariusburst]

I can list many successful bounty projects this year that don't use escrow and they kept their promises, every participants were paid and the tokens have good value, escrow is not a necessity it's wiser to spend time learning how to promote good projects or wait for top bounty managers to introduce new campaigns

[Novatech8]

Excrow are defined as a third party that guarantees safe exchange of goods and services between other agreed parties under description.

Of late excrows are considered as the secured guarantee for safe payment of bounty rewards to bounty Manger and then bounty hunters.

But then a couple of this projects think they are so smart that even a night before an IEO, they do change the smart contracts of their tokens rendering whichever token in excrow worthless.

So i suggest that excrows should not only hold the tokens but also be given usdt value of the tokens as well, so that incase it turns out in the wrong direction the usdt can cater for it..

Your suggestions?

If you are to choose between a very promising project that has no Escrow and another project that has escrow which one will you pick? It's better to start choosing projects based on their quality, forget about Escrow because it doesn't matter much, you can get Escrowed tokens and the still send them for pennies, let high quality projects be your first aim, how many Escrowed bounty projects paid hunters this year so far? Oh! Many are from bounty detective team and they are all crap projects

[Doranile432]

Excrow are defined as a third party that guarantees safe exchange of goods and services between other agreed parties under description.

Of late excrows are considered as the secured guarantee for safe payment of bounty rewards to bounty Manger and then bounty hunters.

But then a couple of this projects think they are so smart that even a night before an IEO, they do change the smart contracts of their tokens rendering whichever token in excrow worthless.

So i suggest that excrows should not only hold the tokens but also be given usdt value of the tokens as well, so that incase it turns out in the wrong direction the usdt can cater for it..

Your suggestions?

I agree with the escrow part but getting paid in USDT? No I don't want that because tokens are more valuable than USDT unless you promote a crap project that have no good utility which will never attract good investors or raise enough money for development, we all have different skills of doing research, I believe in my own skill, USDT is not for me

[VDraci]

Everyone keeps talking about escrow but I don't see them wearing Escrowed only signature campaign banner, if you really want only escrowed campaigns stop promoting projects that aren't Escrowed, once the number of hunters that want Escrow increase your voices might be heard, this shows that you aren't practicing what you are preaching

[peter0425]

Good point mate and i agree on this but of course Escrows here are mostly old accounts and they know for sure why they are not having this same idea as yours.

But yeah stable coin is much safer than volatile currencies and for both parties to be in safe place while the trade is happening .and even in waiting the value will remain intact and i'm sure this is the reason why Stable coins are created.

[Samayuki]

I don't care about escrow, 99% of projects I promoted this year are not Escrow and they all paid what they own bounty hunters, it's not a must to promote bounties, if you don't see a high quality project just wait until a good one comes, don't take unnecessary risks with projects you aren't certain that will be successful, If you know how to do good research you will easily identity promising bounty projects

[restuibu]

that is indeed a good suggestion but the problem is, not all projects that do it even I know that until now Escrow only has project tokens and no usdt guarantee

[tbterryboy]

Escrow is good but not a must, you can even miss many good projects if you force escrow on new projects because I've heard few reputable bounty managers complaining that even high quality bounty projects don't want to accept Escrow, the moment they talked about Escrow the team will stop replying and find another bounty manager that don't care about Escrow

It is up to the bounty participants to get this problem solved because if everyone decides they will not take part in campaigns that do not have an escrow involved then the project managers will have to hire one and that is the right way of doing it.

Bounty managers can only help participants if they are ready to bring the respect to the manager by not taking part in bounty-campaigns with no escrow.

Coming back to the topic, yes there can be manipulations in the smart contracts but how will the token do well in the market then after scamming so many participants. I mean they will bombard the social media with negativity and expose them making the project dead.

[bitcoin31]

Escrow is very safe now and I think yes it's better to have escrow on every bounty campaign with USDT because it is more safe.
The more bounty campaign who have no escrow the high possibility for the others to not getting paid.
Once a project are scam mostly participants of the campaign will suffer for sure so escrow is the answer of that.

[ice18]

I wish bounty campaigns just pay us solid USDT instead of tokens because that's the safest way to say they are legit and will be honest to pay us bounty hunters. If they somehow really change the smart contract without informing everyone, then that proves they are scamming people and should be avoided.

I hope so but this will not happen as project owners who decided to conduct bounty paid with tokens have no enough funds to pay for marketing thats why they try bounty which is cheap with no payment from their pocket just a worthless token with an estimated promise price but in reality its -80% when you exchange it at the end of bounty. 

[doomloop]

OP is having problems and troubled by escrowed funds held by third parties such as bounty managers because the owners of the token themselves change the smart contracts of their own tokens. That means previous tokens are becoming useless and worthless. So it somehow makes the use of escrow useless as well.

That is indeed a curious case and important question and I guess the only possible answer is by providing the escrow with equal amount in USDT or some other stable coin such that in case the escrowed tokens are taken back by fancy changes in the smart contract they can at least pay the bounty hunters in USDT and compensate for the loss.

Is there any case of such happening? I haven't seen this happen anywhere but this is a good question and want to see if this ever happened and more importantly how it was tacked if it happened in past. Please share the link for any campaign where this took place if you know any of them.

[otto93]

Escrow is good but not a must, you can even miss many good projects if you force escrow on new projects because I've heard few reputable bounty managers complaining that even high quality bounty projects don't want to accept Escrow, the moment they talked about Escrow the team will stop replying and find another bounty manager that don't care about Escrow

That too is very true, but it also depends on the credibility of the bounty manager on these Bitcointalk platform that makes this investors believe in the bounty managers and also allow free flow of communication. Well mostly some excrows can be trickish if they don't have the credibility

[otto93]

Excrow are defined as a third party that guarantees safe exchange of goods and services between other agreed parties under description.

Of late excrows are considered as the secured guarantee for safe payment of bounty rewards to bounty Manger and then bounty hunters.

But then a couple of this projects think they are so smart that even a night before an IEO, they do change the smart contracts of their tokens rendering whichever token in excrow worthless.

So i suggest that excrows should not only hold the tokens but also be given usdt value of the tokens as well, so that incase it turns out in the wrong direction the usdt can cater for it..

Your suggestions?

 don't have to. because if there is such a problem, the proceeds from the sale of tokens are still in Excrow's hands. So whatever the project team does they get nothing. so the project team doesn't have to provide any kind of collateral like USDT or any other stablecoins. they just pay the Excrow service fee.

What if the team changes the smart contract without contacting the escrow, what happens to the agreement and the party providing bounty services?

[otto93]

I don't care about escrow, 99% of projects I promoted this year are not Escrow and they all paid what they own bounty hunters, it's not a must to promote bounties, if you don't see a high quality project just wait until a good one comes, don't take unnecessary risks with projects you aren't certain that will be successful, If you know how to do good research you will easily identity promising bounty projects

Well 99% is a good credit score... Who many projects make up that 99% and how many have been successful in the market, lets consider that and can you give us some names? CILPX was having potential but they pull a rug before anyone notice

[otto93]

Excrow are defined as a third party that guarantees safe exchange of goods and services between other agreed parties under description.

Of late excrows are considered as the secured guarantee for safe payment of bounty rewards to bounty Manger and then bounty hunters.

But then a couple of this projects think they are so smart that even a night before an IEO, they do change the smart contracts of their tokens rendering whichever token in excrow worthless.

So i suggest that excrows should not only hold the tokens but also be given usdt value of the tokens as well, so that incase it turns out in the wrong direction the usdt can cater for it..

Your suggestions?

I agree with the escrow part but getting paid in USDT? No I don't want that because tokens are more valuable than USDT unless you promote a crap project that have no good utility which will never attract good investors or raise enough money for development, we all have different skills of doing research, I believe in my own skill, USDT is not for me

I only said they keep the usdt equivalent of the tokens should incase something happens, if they pull rug or refused to pay bounty hunters or keeps promoting distribution date

[Mighty_crypt]

Many new projects will end up walking away from any bounty manager that ask them for escrow and find other bounty managers that don't give a f*** about escrow, how many Escrowed projects become successful since 2018 if I may ask you? All popular successful bounty projects since 2018 never used any Escrow, it's totally useless to me

[ZaraCB]

how many Escrowed projects become successful since 2018 if I may ask you? All popular successful bounty projects since 2018 never used any Escrow, it's totally useless to me

I can't say how many Escrowed projects become successful since 2018. But can you tell me how many projects have not paid Bounty Hunters even after being successful since 2018, if I may ask? I think it is a right of Bounty Hunters to get paid at the end of a Bounty campaign, and Escrow ensure that right of Bounty Hunters.

[tbterryboy]

Yeah, you’re right I have experienced such a thing once. I received a token to my Trust Wallet and I have been holding it there for sometime without checking my Trust wallet, and when next I decided to login and spend some tokens there I discovered that this particular has been changed and the amount I have of this token was then worthless and showing $0.00. It’s been long they have been doing this nonsense and it’s pretty much annoying.

USDT is a better option for escrow, I don’t agree with comments here that are saying ETH and BTC, those two are volatile and can fall anytime, it’s better they use USDT and when you get yours you can decide whether to put in BTC or ETH or not at all.

[poodle63]

Escrow is very safe now and I think yes it's better to have escrow on every bounty campaign with USDT because it is more safe.
The more bounty campaign who have no escrow the high possibility for the others to not getting paid.
Once a project are scam mostly participants of the campaign will suffer for sure so escrow is the answer of that.

Very safe is not really the right term when escrow is still being hold or secured by some stranger that we don't really know of. I'd say if there any instance that's ready to offer an escrow service while also providing the legality of their services under law then it can be called "Very safe". However, having some escrow that already trusted and have many histories is already good enough and suffice I guess.

[raidarksword]

Escrow system is an effective way of guaranteeing the payments of services rendered by the bounty hunters in promoting such projects and it should be mandated every bounty managers should apply that. Even on escrow, still team can decide and tell managers when to distribute the rewards and some team are very clever that find ways just to bend rules in order to delay the distribution. If both parties between managers and team is sincere to give rewards without conditions, then it will be an effective escrow system.

[Kvalentine]

Escrow guaranteed bounty payments but there are other things that makes escrow useless  like ..

1. The project team can still change smart contract if they want
2. The escrowed token can become pennies before hunters can sell on exchange.
3. Before bounty campaign ends the project can exit scam, making the token worthless and useless

[Greatchu]

Is escrow the answer to bounty problems? It's like calling all new projects scammer cos they can run away without paying, I'm not saying scam bounties don't exist but there are many good projects that will reject escrow offers from bounty managers that demands such, I'm satisfied with bounty results this year as many of them paid without using escrow

[Warkop]

I agree with your suggestion for Escrow, maybe this can be done if there is Escrow who is truly trusted to be the third person to save funds from the project that is being campaigned, so that the project owner who creates the campaign cannot be separated from the project they are working on or change what has been determined so far. But I see that currently all projects campaigning for their projects are no longer using Escrow, even though using the Escrow service is very important for the trust of all investors and bounty hunters, because by using Escrow there will be no more fraudulent projects.

[Farma]

if they do this, then the first thing they need to do is replace the existing coins in Escrow. however this was avoided, in the end the team had to pay the token they promised. if they do this without a reason and solution, then it is certain that the project will not last long. Well, several projects have implemented the same thing, even changed their tokens, and in the end nobody was interested in such a project.

[Winscosinally]

I will always choose to follow reputable bounty managers instead of looking for escrowed bounties, most escrowed bounty campaign I've seen are not up to standard of high quality projects so escrow isn't a must to me, if you can send some time to do research on projects that introduce bounty campaign since 2019 you will see that only 3% of them used escrow

[Balladtony77]

Excrow are defined as a third party that guarantees safe exchange of goods and services between other agreed parties under description.

Of late excrows are considered as the secured guarantee for safe payment of bounty rewards to bounty Manger and then bounty hunters.

But then a couple of this projects think they are so smart that even a night before an IEO, they do change the smart contracts of their tokens rendering whichever token in excrow worthless.

So i suggest that excrows should not only hold the tokens but also be given usdt value of the tokens as well, so that incase it turns out in the wrong direction the usdt can cater for it..

Your suggestions?

Not all new projects team will accept to use escrow for their own reasons and that won't stop them from paying bounty hunters too, if you are a bounty manager and you are forcing new projects to use escrow they will find other bounty managers and you will keep missing high quality projects

[bonjouros]

Your opinion is not that bad, it is safer compare to holding the shit tokens as escrow because it will remain shit tokens if there are changes that they are going to make in their smart contracts.

But as of this moment, I cannot see any further improvements to bounty rewards because escrowing the bounty rewards is not yet mandatory therefore it is still very difficult for us to ask this kind of requirement to the project owner where we require them to provide an escrow that has a USDT value.