Smart Contracts

The Smart-contract will consist of a 3/5 multi-level multisig escrow contract consisting of the following Signatories:

• The buyer

• The Seller

• Quaestrium

• Contingency

• Contingency2

Contingency Keys

As we ship holders’ wine-NFT to them, we will reduce the number of parties involved as much as possible to ensure tracking stays simple. We may find that a wine-NFT may not have reached the buyer or the seller didn’t take the best care to ensure the seal cap hasn’t been tampered with, in which case we need to step in to ensure 3 signatures made to approve some parts of the transaction, depending on which party upheld their side of the deal.

The Contingency keys are there for us to take care of the parts of the transaction that may slip by the other party, it won’t affect.

Smart Contract Outcomes

There are only a few scenarios that we might have to deal with, broadly speaking:

Successful: All parties sign and receive their part of the transaction

No wine-NFT from Seller: Shipment or verification was unsuccessful.

No wine-NFT to Buyer: Shipment was unsuccessful.

General buying and selling on our website: Buyer releases payment and seller releases NFT to the multisig’s custody.

Successful:

The company arranges for the wine-NFT to be collected.

Once collected, the seller signs payment release approval. (1/3)1/5a

When the company receives the wine-NFT, we sign for release of funds to the seller. (2/3)2/5a

The company ships the wine-NFT to the buyer and signs for NFT release to buyer. 1/5b

The buyer then signs on receipt of wine-NFT and finalizes the transaction and the payment is released to the seller and the NFT to the buyer. (3/3)2/5b

No wine-NFT from Seller:

The company the arranges for the wine-NFT to be collected.

If we don’t receive the wine-NFT, we will investigate first: confirming collection from the seller and investigate the whereabouts of the wine-NFT if collection is confirmed. If Collection cannot be confirmed, we will return the payment to the buyer and the NFT to the seller.

If we do consider the wine-NFT to be compromised, we will put in a request with the seller to part burn the NFT. If declined via the smart contract, we will return the NFT and the wine-NFT to the seller.

No Wine-NFT to Buyer:

If the buyer doesn’t receive the wine-NFT, we will investigate first the whereabouts of the wine-NFT. If the wine-NFT has for whatever reason gone missing while in our custody and that of our shipment agents, we will offer the buyer a new NFT. If the buyer accepts, we will burn the NFT that was originally part of the transaction.