Smartlink Raises $3 Million For Its Decentralized Escrow Payments Ecosystem Built on Tezos

By AIT News Desk On May 11, 2021

Smartlink has raised $3 Million in its private and public token sales. The Tezos-powered platform reached its $500K softcap in under 2 minutes during the presale with 3x oversubscription, and its hardcap within 48 hours of the launch.

Smartlink launched its presale, with a target softcap of $500,000 and at a price of $0.007 per SMAK token, Smartlink’s native FA1.2 token. The presale was sold out within 1 minute 50 seconds. The second phase of the public token offering launched on May 5, 2021, at a price of $0.010 per token, witnessed a similar interest, closing the sale at $2M within 48 hours.

Smartlink raised $500,000 in private rounds from ZoomPass Holdings Inc, a publicly-listed corporation, Blockgration Global Corp, and Sourcing Force for strategic development.

Smartlink is set out to address one of the biggest challenges in the global business landscape, lack of trust in commercial transactions. The platform provides Trust-as-a Service through its enforceable escrow smart contracts. Smartlink users can choose customizable Smart contract agreements to decide the terms of the deal, which then auto-executes as the underlying conditions of the transaction are met.

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“When we think of payments processing we think of Paypal, Stripes, Square etc. Those companies have built their entire infrastructure on legacy banking features. They’re expensive, centralized, have no smart contracts, no user incentives,” Smartlink CEO Ben Constanty said in a statement. “Smartlink gives buyers and sellers a Web3.0 experience allowing them to quickly start a one-on-one transaction on the platform at a lower cost, and get rewarded for it. Smartlink doesn’t hold their funds and keeps the process decentralized.”

On top of its escrow smart contract solution, Smartlink plans to launch a decentralized marketplace that will allow anyone to buy and sell using crypto assets. The current crypto landscape lacks a modern marketplace for cryptocurrency users. Smartlink ecosystem will be home to high-value items, professional services, NFTs, in-game assets, OTC markets, and fundraising solutions.

Smartlink is built on Tezos blockchain, one of the most secure blockchain networks in operation that supports formal verification of smart contracts. A high transaction speed, a liquid PoS consensus algorithm, and minimal gas fees make Tezos the ideal platform for the Smartlink project. Smartlink escrow module and marketplace are already live on Tezos Testnet for developers and users to inspect.