SafeSend is an opt-in service powered by Coral Protocol which provides active security for ethereum transfers. Through SafeSend, users of non-custodial wallets can now dramatically reduce uncertainty and risk of fraud.
SafeSend consists of a deployed smart contract and several off-chain components which facilitate secured transfers.
SafeSend’s smart contract holds funds in escrow while Coral Protocol calculates the recipient's trustworthiness. If the recipient is trustworthy, funds are automatically released to their destination. If the recipient is deemed untrustworthy, funds are returned to the original sender. In order to prevent user's funds from being locked in the contract, senders are able to withdraw their ethereum at any time before Coral delivers the escrowed funds.
SafeSend is powered by Coral Protocol’s robust fraud prediction algorithms. These algorithms ingest multiple sources of data, including but not limited to transaction history, known fraud, inferred fraud, and patterns of behavior in order to score the trustworthiness of recipient wallets.
If you opt-in to SafeSend, a .15% and $0.30 fee will be added on top of the transaction amount.
Blockchain payments are scary, scams are rampant, and nobody wants to lose their money! SafeSend’s trust scores help prevent fraud and bring peace of mind to wallet users.
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