Gate.io News bot, stablecoin developer Circle has launched Refund Protocol, a non-custodial dispute resolution smart contract dedicated to stablecoin payments. The protocol integrates on-chain dispute resolution and custody mechanisms to provide non-custodial refunds, lock-up periods, and arbitration mediation capabilities for ERC-20 token payments, reducing reliance on centralized third parties. The Refund Protocol gives arbiters the ability to set a lock-up period and approve refunds to a predetermined address, while users can withdraw funds in advance by paying a fee. Source: Wu said

According to official news, Circle announced the release of Refund Protocol, a smart contract that supports stablecoin payment non-custodial custody and on-chain dispute resolution, built for the composability and transparency of on-chain commerce, supporting lock-up periods, arbitrator-mediated refunds and early withdrawals based on off-chain protocols, which support on-chain dispute resolution and USDC payment refunds, There is no need for custody or trust from a centralized authority.