Automate Payments – Create DvP Settlement on peaq
Transfer tokens with DvP settlement
No smart contract programming required
Atomic swap for tokens
Remove counter-party risk from settlement
Set custom price and payment token
DvP settlement product documentation
You have to Connect Wallet before creating a new payment
peaq DvP Settlement for tokens FAQ
What is the DvP settlement feature on Token Tool for peaq?
What is the DvP settlement feature on Token Tool for peaq?
The DvP (Delivery versus Payment) settlement feature on Token Tool for peaq ensures the simultaneous exchange of assets and payment, minimizing risk for both parties. This mechanism guarantees that the transfer of tokenized assets and the corresponding payment happen at the same time, reducing the chances of either party defaulting.
How does the concept of Delivery versus Payment (DvP) work on peaq?
How does the concept of Delivery versus Payment (DvP) work on peaq?
DvP on the peaq network works through smart contracts that enforce atomic transactions. This means that both the delivery of the asset and the corresponding payment occur simultaneously. If either the payment or the asset is unavailable, the transaction is canceled. This secure mechanism prevents any risk of one party not fulfilling their part of the deal.
How does the DvP settlement reduce risk for asset buyers and sellers?
How does the DvP settlement reduce risk for asset buyers and sellers?
DvP reduces risk by ensuring the simultaneous exchange of both the asset and the payment. This eliminates scenarios where a buyer doesn’t receive their asset or a seller doesn’t get paid. By using a smart contract, both parties have the assurance that the transaction will either complete successfully or be canceled with no assets or payments transferred.
What are the benefits of using the Token Tool DvP feature on peaq?
What are the benefits of using the Token Tool DvP feature on peaq?
The DvP feature on Token Tool for peaq offers:
Security: Reduces counterparty risk by ensuring the asset and payment transfer occur simultaneously.
Efficiency: Streamlines the process through automated smart contracts.
Trust: Provides a higher level of trust in transactions since both parties are protected.
Transparency: Transactions are recorded immutably on the peaq blockchain, providing clear evidence of the exchanges.
Is the DvP settlement feature available for all types of tokens on peaq?
Is the DvP settlement feature available for all types of tokens on peaq?
The DvP settlement feature on peaq is designed to support a wide variety of tokens issued on the peaq network. It is important to verify token compatibility before executing a DvP transaction to ensure smooth processing.
How does Token Tool ensure the security of DvP transactions on peaq?
How does Token Tool ensure the security of DvP transactions on peaq?
Token Tool ensures the security of DvP transactions on peaq by leveraging smart contracts. These contracts are designed following industry best practices and are audited for vulnerabilities. All transactions are securely processed on the blockchain, creating an immutable and transparent record.
Is there a fee associated with using the DvP settlement feature on peaq?
Is there a fee associated with using the DvP settlement feature on peaq?
Yes, there is a fee associated with using the DvP settlement feature. The fee structure typically includes a service fee paid to Token Tool, in addition to network fees required to deploy the smart contract on the peaq network.
How does DvP differ from other transaction methods in Token Tool?
How does DvP differ from other transaction methods in Token Tool?
DvP differs from other transaction methods by ensuring that the delivery of the asset and the corresponding payment occur at the same time in a single atomic transaction. Other methods may involve separate transactions for each, which could introduce risks like non-payment or non-delivery.
How long does it take to settle transactions with the DvP feature on peaq?
How long does it take to settle transactions with the DvP feature on peaq?
The settlement time for DvP transactions on peaq is dependent on the network's congestion and transaction fees. Typically, these transactions are settled within a few minutes, but it may vary based on network conditions at the time.
Is there a risk of transaction failure with the DvP function on peaq?
Is there a risk of transaction failure with the DvP function on peaq?
Although the DvP function is designed to minimize risks, there is always a small chance of transaction failure due to network issues, insufficient balance, or incompatible tokens. In such cases, no assets or payments are exchanged, ensuring that neither party incurs any loss.
