👋Welcome to Aegis Protocol

Web3’s gateway to crypto refunds.

Trustlessness is a key feature in Web3, but it has its drawbacks. Scams and hacks have eroded trust in the space, and we believe in consumer protection as a crucial remedy. We’ve carefully designed our refund system to balance the interests of both consumers and projects.

Product Overview

Aegis is a consumer protection protocol that enables any protocol or project to seamlessly integrate a limited-time refund system to protect its users.

Aegis is ideal for any token or NFT launches with associated roadmaps or utilities and will be fully audited and rigorously tested before deployment.

Aegis offers three things to facilitate refunds: 1.) a smart contract escrow that holds your inbound funds temporarily to facilitate approved refunds, 2.) a management dashboard that allows projects to specify refund parameters and manage inbound requests, and 3.) a link that allows users to file refund requests and return items.

Customizing refund parameters

There are two parameters to set: 1.) refund conditions and 2.) refund duration.

Refund condition is simply the conditions upon which a refund will be approved. These conditions will be displayed on the refund link users will use to file refund requests. If a user needs to return an item to qualify for a refund, Aegis provides an escrow for users to send the item to. To ensure enforceability, all refund conditions must be listed in the following format:

• [Promise], as measured by [value] [unit], by [time] / from [date] to [date]. Deliverable [does/ does not] need to be returned.

Refund duration is how long users can request a refund, based on the conditions above. To facilitate refunds, Aegis temporarily escrows inbound funds and releases them to the seller either instantly or gradually depending on the refund duration. There are two choices for refund conditions:

• Refunds are only requestable up to [date], after which all funds are passed instantly to the project.

• Refunds are requestable up to [date], and funds are gradually passed to the project at a rate of [x%] every [period].

A duration must be specified for each refund condition. The ending date of the duration must be after the date listed in the refund condition. These conditions and their corresponding durations will be visible to users when they file a refund request.

Approving and managing refund requests

Projects can view all refund requests sent to them from their Aegis dashboard. Users will need to pay a nominal fee to submit a refund request to prevent spam. Projects can either accept, reject, or negotiate via chat, and can view whether the user deposited the required item(s) into the return escrow.

If a refund is approved or successfully negotiated, the corresponding amount in the escrow will be sent back to the user, initiated by the project.

For fairness of consideration, if a user disagrees with the decision of the project, the user may escalate the refund request to a decentralized jury that will arbitrate the refund request in strict accordance with the refund conditions set by the project. However, given the clarity of the conditions, we do not foresee this happening a lot.

Integration

Integration with Aegis is as simple as embedding a link and a smart contract snippet. Integration materials are obtained after refund conditions and durations are set.

Once those are set, the project will receive:

1.) A unique Aegis smart contract escrow that will reroute inbound funds and handle refunds accordingly. Remember that whether a refund is granted is at the project’s discretion, and the smart contract escrow only triggers the refund if the project approves a refund. A smart contract snippet will be provided to be embedded into the minting contract.

2.) A unique Aegis refund link that will allow your users to submit refund requests with any textual or photo evidence they deem valid. A return escrow is also bundled into the link, which allows users to deposit the relevant items to be returned for a refund. Projects will be able to view whether or not the required items are deposited into the return escrow from their Aegis dashboard. This link is to be embedded into the project's website.

Pricing

0.5% on all funds processed.