SailFishP2P Smart Contract

A P2P escrow smart contract for EDU token trading on EDUCHAIN, enabling merchants to create ads to sell EDU tokens for fiat currencies.

Overview

SailFishP2P is a decentralized escrow service built for the EDUCHAIN network. It facilitates peer-to-peer transactions between merchants (sellers) and users (buyers), where merchants can create ads to sell EDU (the native token of EDUCHAIN) in exchange for fiat currencies.

The contract provides a secure and transparent way to handle the escrow process, with features for merchant verification, ad management, order processing, and dispute resolution.

Contract Address

• EDUCHAIN Mainnet: 0x6484eac89E507215Ae6cC07BAF6eB632aa2A46BF

Architecture

Main Components

graph TD
    A[SailFishP2P Contract] --> B[Merchant Management]
    A --> C[Ad Management]
    A --> D[Order Processing]
    A --> E[Dispute Resolution]
    
    B --> B1[Merchant Approval]
    B --> B2[Merchant Freezing]
    B --> B3[Balance Tracking]
    
    C --> C1[Create Ads]
    C --> C2[Pause/Unpause Ads]
    C --> C3[Close Ads]
    
    D --> D1[Create Orders]
    D --> D2[Accept Orders]
    D --> D3[Approve Orders]
    D --> D4[Challenge Period]
    D --> D5[Finalize Orders]
    
    E --> E1[Dispute Handling]
    E --> E2[Admin Resolution]
    E --> E3[Mutual Resolution]

Loading

Data Structures

The contract uses the following key data structures:

1. Merchant

   struct Merchant {
       bool isApproved;
       bool isFrozen;
       uint256 totalBalance;
   }

2. Ad

   struct Ad {
       uint256 id;
       address merchant;
       bool isSellAd;
       uint256 rate;
       uint256 amount;
       uint256 minAmount;
       uint256 maxAmount;
       string fiatCurrency;
       bool isActive;
       bool isPaused;
       uint256 remainingBalance;
   }

3. Order

   struct Order {
       uint256 id;
       uint256 adId;
       address buyer;
       uint256 amount;
       OrderStatus status;
       uint256 approvalTimestamp;
       bool buyerApprovedDispute;
       bool merchantApprovedDispute;
       uint256 timestamp;
   }

4. OrderStatus

   enum OrderStatus {
       CREATED,
       ACCEPTED,
       APPROVED,
       COMPLETED,
       DISPUTED,
       CANCELLED
   }

Order Flow

sequenceDiagram
    participant Buyer
    participant Contract
    participant Merchant
    participant Admin
    participant Cron

    Merchant->>Contract: Create Ad (deposit EDU)
    Buyer->>Contract: Create Order
    Merchant->>Contract: Accept Order
    Note over Contract: Order status: ACCEPTED
    Merchant->>Contract: Approve Order Completion
    Note over Contract: Order status: APPROVED
    Note over Contract: 30-min challenge period starts
    
    alt No Dispute
        Note over Contract: Challenge period passes
        Cron->>Contract: Finalize Order
        Contract->>Buyer: Transfer EDU
        Note over Contract: Order status: COMPLETED
    else Dispute Raised
        Buyer->>Contract: Dispute Order
        Note over Contract: Order status: DISPUTED
        
        alt Admin Resolution
            Admin->>Contract: Resolve Dispute
            Contract->>Buyer: Transfer EDU (if buyer wins)
            Contract->>Merchant: Return EDU to balance (if merchant wins)
        else Mutual Resolution
            Buyer->>Contract: Approve Disputed Order
            Merchant->>Contract: Approve Disputed Order
            Contract->>Buyer: Transfer EDU
            Note over Contract: Order status: COMPLETED
        end
    end

Loading

Features

Merchant Management

• Merchants must be approved by an admin before they can create ads
• Merchants can be frozen/unfrozen by the admin
• Each merchant's total EDU balance is tracked

Ad Management

• Merchants can create sell ads to offer EDU tokens for fiat currency
• Each ad specifies rate, amount, min/max order size, and fiat currency
• Merchants must deposit EDU when creating sell ads
• Ads can be paused or closed by the merchant

Order Processing

• Users can create orders against active ads
• Merchants must accept orders before processing
• When an order is accepted, the funds are set aside from the ad's balance
• Merchants approve order completion, starting a 30-minute challenge period
• If not disputed, orders can be finalized after the challenge period

Dispute Resolution

• Users can dispute orders during the 30-minute challenge period
• Disputes can be resolved by admin intervention
• Disputes can also be resolved if both parties approve the transaction again

Batch Processing

• Multiple expired orders can be finalized in a single transaction
• Approved orders are tracked in an array for efficient processing by cron jobs

Security Features

• Strict access control for admin and merchant functions
• Admin transfer functionality for multisig wallet setup
• Merchant freezing prevents:
  • Creating new ads
  • Closing existing ads
  • Sending EDU to the contract
  • Users creating orders for frozen merchants' ads
• Balance verification before accepting orders
• Reentrancy protection for all fund transfers
• Secure handling of native EDU token
• Challenge period to prevent fraudulent transactions

Events

The contract emits events for all key actions, including:

• Merchant approval and freezing
• Ad creation, pausing, and closing
• Order creation, acceptance, approval, and completion
• Dispute raising and resolution
• EDU deposits and withdrawals

Networks

The contract can be deployed on:

• EDUCHAIN Mainnet

  • ChainID: 41923
  • RPC URL: https://rpc.edu-chain.raas.gelato.cloud

• Open Campus Testnet

  • ChainID: 656476
  • RPC URL: https://rpc.open-campus-codex.gelato.digital/

Development

Prerequisites

• Node.js and npm
• Hardhat

Installation

npm install

Testing

npx hardhat test test/SailFishP2P.test.js --network hardhat

Deployment

npx hardhat run scripts/deploy.js --network opencampus

License

MIT