From 67e780b38ab3fbe4f5bc660c3d9397fbcec3dfa8 Mon Sep 17 00:00:00 2001 From: Mike MacCana Date: Tue, 6 Oct 2026 17:03:41 +0000 Subject: [PATCH] Escrow: drop the remittance cost figures A bank transfer through an intermediary is not an escrow service, so the World Bank remittance averages do not describe what an escrow agent charges. The chapter and its figure now just say the third party takes a fee. Claude-Session: https://claude.ai/code/session_01H8v6W89DyKpBwBAd5aH2hE --- building-financial-products-in-solana/escrow.md | 4 +--- .../figures/escrow-traditional-escrow.svg | 2 +- 2 files changed, 2 insertions(+), 4 deletions(-) diff --git a/building-financial-products-in-solana/escrow.md b/building-financial-products-in-solana/escrow.md index 3625b0bb..0228f5d1 100644 --- a/building-financial-products-in-solana/escrow.md +++ b/building-financial-products-in-solana/escrow.md @@ -14,7 +14,7 @@ Alice starts, like every character in this book, with one SOL and 1,000 USDC; sh The naive version is that Alice sends Bob her USDC and waits, and Bob can take the USDC and leave. An **escrow** lets Alice and Bob swap without having to trust each other. -Traditional finance solves this with a trusted third party. Alice sends her funds to the third party, which holds them in escrow until Bob has done the same, then distributes both sides to their destinations. And, as anyone who has sent money overseas knows, the third party takes a percentage of the amount for itself: even a plain transfer through an intermediary costs 6.36% on average worldwide, and more than 20% on the worst corridors.[^remittance-cost] +Traditional finance solves this with a trusted third party. Alice sends her funds to the third party, which holds them in escrow until Bob has done the same, then distributes both sides to their destinations. And the third party charges a fee for the service, taken from the amount it holds. ![](figures/escrow-traditional-escrow.svg) @@ -148,5 +148,3 @@ The escrow gave you four concepts: - **Every state has a handler that empties the vault.** `take_offer()` and `cancel_offer()` both empty and close everything, returning the tokens and the account rent deposits to whoever they belong to, so neither is stranded. In the *Fundraiser* chapter we will build an escrow with many depositors instead of one maker. Contributions collect in one vault: the maker takes them the moment the target is reached, and if the deadline passes first, every contributor takes theirs back. Most programs in the rest of this part keep this chapter's shape (a vault whose authority is a PDA, and a handler in every state that empties it) and change only what decides who is paid. - -[^remittance-cost]: The Introduction's note on remittance costs gives the scope of these figures and the World Bank source for them. diff --git a/building-financial-products-in-solana/figures/escrow-traditional-escrow.svg b/building-financial-products-in-solana/figures/escrow-traditional-escrow.svg index a3b9b6c4..0252ed38 100644 --- a/building-financial-products-in-solana/figures/escrow-traditional-escrow.svg +++ b/building-financial-products-in-solana/figures/escrow-traditional-escrow.svg @@ -32,7 +32,7 @@ 1 TSLAx − fee - keeps 6.36% on average, over 20% on the worst corridors + and keeps a fee from each side