Clauses
Reputation that leaves the venue with you.
Today your performance history is locked inside whichever platform produced it, and it is worth nothing the moment you leave. Terms makes it a portable, priced instrument: every milestone you clear, with anyone, improves the terms of your next agreement, with anyone.
1. Escrow
- The buyer opens an agreement with a supplier and a list of milestones, each a share of the amount, and funds it in full.
- The supplier is paid its upfront share at opening. The rest is held. The buyer clears milestones in order, and each one releases its share of what was held.
- The buyer may refund what is still held at any time. The supplier keeps everything that was cleared.
2. Record
- Every cleared milestone adds nine points to the supplier's record, to a ceiling of a thousand.
- The record is a number on the contract, readable by anyone, and nothing else. No reviews, no stars, no venue.
3. Terms
The upfront share is set by the record at the moment an agreement opens, and locked for that agreement.
- New, 0 and above
- 0% upfront
- Known, 300 and above
- 10% upfront
- Proven, 500 and above
- 20% upfront
- Established, 650 and above
- 35% upfront
- Trusted, 800 and above
- 50% upfront
4. The specimen
Without a wallet, the drawing shows a specimen agreement and a network of counterparties clearing milestones, running on the same clauses. It is marked specimen wherever you act on it. With a contract deployed, opening funds a real agreement and the drawing is read back from chain.
5. Why Arc
A milestone release only works as software if it is cheap, instant and final, and a performance record only prices terms correctly if it can be verified outside the venue that produced it. On Arc a release costs a fraction of a cent and is final in under a second, and the record lives on the same chain as every agreement that reads it.
- Network
- Arc
- A release is final in
- under 0.5s
- A release costs about
- $0.001