{"id":"custodiy","title":"Custodiy","content":"**Custodiy** is a [Web3](https://iq.wiki/wiki/web3) platform designed to enable individuals, businesses, and institutions to create and manage secure, on-chain [smart contracts](https://iq.wiki/wiki/smart-contract). The platform facilitates trustless agreements by locking [stablecoin](https://iq.wiki/wiki/stablecoin) payments within a contract that are released only when predetermined conditions are met. [\\[1\\]](#cite-id-etNdjheVpt) \n\n## Overview\n\nCustodiy aims to address payment uncertainty and [counterparty](https://iq.wiki/wiki/counterparty) risk in various transactions by leveraging [smart contracts](https://iq.wiki/wiki/smart-contract) as automated, on-chain escrow agents. The platform's core concept involves users creating digital agreements where funds are locked in stablecoins, such as [Tether (USDT)](https://iq.wiki/wiki/tether), [USD Coin (USDC)](https://iq.wiki/wiki/usdc), [Binance USD (BUSD)](https://iq.wiki/wiki/binance-peg-busd), or [Pax Dollar (PAX)](https://iq.wiki/wiki/pax-dollar-usdp). This mechanism is intended to mitigate the price volatility often associated with other [cryptocurrencies](https://iq.wiki/wiki/cryptocurrency) and ensure the value held in escrow remains stable throughout the [contract's](https://iq.wiki/wiki/smart-contract) duration. The funds are released automatically by the [smart contract](https://iq.wiki/wiki/smart-contract) upon the fulfillment of contractually agreed-upon terms, a process designed to eliminate the need for traditional intermediaries like banks or legal escrow services and reduce the potential for payment disputes. [\\[2\\]](#cite-id-m2c0DeVMso)​\n\nThe platform is positioned as a modular solution for creating transparent and verifiable agreements, targeting a diverse user base that ranges from individual freelancers and service providers to larger businesses and institutions. The system is built with a focus on regulatory awareness and compliance, incorporating security audits and options for [Know Your Customer (KYC)](https://iq.wiki/wiki/know-your-customer-kyc) procedures into its architecture to align with established standards. Custodiy's revenue model is based on a variety of fees generated through its ecosystem, including charges for [smart contract](https://iq.wiki/wiki/smart-contract) creation, fees for using its document storage services, costs associated with business-level integrations, and revenue from specialized enterprise packages tailored for corporate clients. [\\[1\\]](#cite-id-etNdjheVpt) \n\n## Products\n\n### Smart Contracts\n\nThe primary offering of the platform is the ability for users to create, deploy, and manage customizable on-chain smart contracts. These contracts serve as self-executing agreements where the terms are written directly into code. Users can define specific conditions, milestones, or deliverables that must be met for the locked [stablecoin](https://iq.wiki/wiki/stablecoin) funds to be released to the designated recipient. The platform provides templates and tools to facilitate the creation of these agreements for various purposes, including service contracts, payroll, and escrow for high-value transactions. [\\[2\\]](#cite-id-m2c0DeVMso)​\n\n### Safebox (Document Vault)\n\nCustodiy includes a feature for the secure on-chain storage of sensitive documents within the framework of a [smart contract](https://iq.wiki/wiki/smart-contract). This \"Safebox\" or \"Document Vault\" allows users to attach and store important files such as legal agreements, deeds, wills, or project specifications directly to the corresponding on-chain contract. [\\[1\\]](#cite-id-etNdjheVpt)​\n\n### OTC and Trading Services\n\nThe platform operates an Over-the-Counter (OTC) service for projects and individuals seeking to conduct large-volume sales of digital assets in a structured and secure manner. This service leverages the platform's [smart contract](https://iq.wiki/wiki/smart-contract) infrastructure to facilitate these transactions. In addition, Custodiy offers a token listing service, providing free listings for projects built on various [blockchains](https://iq.wiki/wiki/blockchain), including [Ethereum](https://iq.wiki/wiki/ethereum), [BNB Chain](https://iq.wiki/wiki/binance-smart-chain), [Solana](https://iq.wiki/wiki/solana), and [Tron](https://iq.wiki/wiki/tron), thereby granting them access to its trading and payment infrastructure. [\\[1\\]](#cite-id-etNdjheVpt)​\n\n### Marketplace and Financial Tools\n\nCustodiy features an integrated marketplace where merchants can sell products and services, utilizing the platform's [smart contract](https://iq.wiki/wiki/smart-contract) and [stablecoin](https://iq.wiki/wiki/stablecoin) payment system to ensure secure transactions. To support user activity, the platform also provides a financial dashboard for managing on-chain financial activities and an integrated wallet for users to store and manage their digital assets within the Custodiy ecosystem.   [\\[5\\]](#cite-id-ZhXWarl7oMlNyYcr)​\n\n## Use Cases\n\n* **Freelance and Service Agreements:** Creating secure payment terms for freelancers and their clients, where funds are released upon the completion and approval of work.\n* **Automated Payroll Systems:** Enabling businesses to automate salary and wage payments to employees based on predefined schedules and conditions.\n* **Digital Escrow Services:** Facilitating high-value transactions for goods, services, or digital assets by holding funds securely until all parties have fulfilled their obligations.\n* **Verification of Deliveries and Milestones:** Structuring payments for projects around the achievement of specific milestones or the confirmed delivery of goods.\n* **Management of Long-Term Commitments:** Handling recurring payments for long-term service agreements, subscriptions, or financial retainers.\n* **On-Chain Document Management:** Providing a verifiable and immutable record of important documents by linking them directly to financial contracts on the [blockchain](https://iq.wiki/wiki/blockchain).\n* **Merchant Sales:** Allowing sellers in the integrated marketplace to conduct transactions with guaranteed payment upon fulfillment of the order. [\\[2\\]](#cite-id-m2c0DeVMso) \n\n## Tokenomics\n\nThe native utility token of the Custodiy platform is $CTY. The token is designed to be an integral part of the platform's ecosystem, facilitating various operations and interactions. \n\n### Token Utilities\n\n* **Contract Creation:** Users are required to use $CTY tokens to pay for the creation and deployment of [smart contracts](https://iq.wiki/wiki/smart-contract).\n* **Service Fees:** The token is used to cover various service fees on the platform, such as those for using the secure document vault or other specialized features.\n* **Platform Access:** $CTY may be used to gain access to certain platform features, premium services, or different tiers of functionality. [\\[2\\]](#cite-id-m2c0DeVMso)\n\n## Partnerships\n\n* **Nodesblock**\n* **Freety**\n* [**BitGo**](https://iq.wiki/wiki/bitgo)\n* [**Moralis**](https://iq.wiki/wiki/moralis)\n* **Veriff**\n* **MEXC Global**\n* [**LBank**](https://iq.wiki/wiki/lbank) [\\[1\\]](#cite-id-etNdjheVpt)","summary":"Custodiy's Web3 platform uses smart contracts to secure trustless agreements, locking stablecoin payments until conditions are met to eliminate intermediaries a...","images":[{"id":"QmXaXUnqkFXe25xCgjzYwSqmFBjELh3B9eoywCNAUfhg8z","type":"image/jpeg, image/png"}],"categories":[{"id":"dapps","title":"Dapps"}],"tags":[{"id":"Ethereum"},{"id":"Protocols"},{"id":"BinanceSmartChain"},{"id":"Solana"},{"id":"Organizations"}],"media":[],"metadata":[{"id":"references","value":"[{\"id\":\"etNdjheVpt\",\"url\":\"https://x.com/Custodiy1?t\",\"description\":\"Custodiy social media 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