🔄Smart Contract Workflow: From Agreement to Payout
Step-by-step guide to how smart contracts work on Midcontract — from setup to escrow funding, delivery, and instant payouts.
Midcontract streamlines collaboration between freelancers, agencies, and clients — from setting expectations to getting paid.
🛠️ 1. Create a Smart Contract
Either party can initiate a contract via a simple interface. Choose the contract type (fixed, milestone, or hourly), set deliverables, deadlines, and payment terms — all in one place.
Each agreement is backed by a smart contract — no PDFs, no scattered docs, no second-guessing. You can still chat and coordinate as needed, but the core terms are locked on-chain for total clarity and trust.
👤 2. Complete Identity Verification
Before funding begins, both parties must complete a one-time identity verification (KYC). This protects both sides and ensures compliance.
💰 3. Fund the Escrow
Once terms are accepted, the client deposits funds into escrow. These funds are held in a smart contract — not by Midcontract — and remain locked until work is approved.
To fund the escrow, simply deposit stablecoins directly, or easily purchase them using fiat via our integrated partner services — available in select regions.
Once the client approves the work, funds are instantly released from escrow to the freelancer.
Payouts are made in stablecoins. Want to cash out in fiat? No problem — use our built-in partner service to convert and withdraw to your preferred local method.
