Circle Launches Refund Protocol Smart Contract to Strengthen Stablecoin Payment Security

Gate.io News bot, stablecoin developer Circle has launched Refund Protocol, a non-custodial dispute resolution smart contract dedicated to stablecoin payments. The protocol integrates on-chain dispute resolution and custody mechanisms to provide non-custodial refunds, lock-up periods, and arbitration mediation capabilities for ERC-20 token payments, reducing reliance on centralized third parties.

The Refund Protocol gives arbiters the ability to set a lock-up period and approve refunds to a predetermined address, while users can withdraw funds in advance by paying a fee.

Source: Wu said