Steak Master

The Steak Master project is a new way of establishing decentralized trust for DeFi and Decentralized Business. Steak Master provides a way for merchants to quick compensation in return for deal concessions from the client. For example in Decentralized Business your trading party is often unknown in many respects e.g. geography, identity, reputation. This makes it difficult to either pay in advance or provide a service with payment on completion.

Steak Master enables decentralized business to work by enabling a service provider or merchant to put up a stake in exchange for the client paying in advance and in full. In the event everything goes well, the client simply releases the stake on completion returning funds back to the merchant. In the event there is a problem, the client can simply slash the stake to receive an award calculated on chain using a publicly available RuleSet.

A visual description of how it all works is here: https://docs.google.com/presentation/d/1UoC15c1WG-nisSfbuD-2s6kX1HTt1oAtfnx7sqUV3eo/edit?usp=sharing

This project is build using the SKALE L2 platform and written in solidity with a Web3 front end. It supports transactions in ERC20 tokens and native chain coin. It has been built to be lightweight infrastructure to more complicated transactions like the delegated trading of DeFi products and derivatives.