How the pool works, in full.
The model, what a default does, the score, and the parameters of pool v2. The live site reads these from the contracts on Robinhood Chain. This page states the same design.
Model
One pool of USDG. Every line is vouched by one backer, out of that backer's own stake.
A lender deposits USDG and holds shares. Lenders receive 50% of every base fee. A root sponsor locks USDG as shares and vouches lines, each one starting only with the agent owner's signed consent. An agent is an ERC-8004 identity. It borrows within its line, from $5 to $500, for 1 to 30 days, at 1% per 30 days. The fee is fixed at borrow.
On repayment the fee splits 50% to lenders, 25% to the sponsor, and 25% to the reserve. A backer may ask a premium of at most 2% per 30 days, and only up to what the owner agreed. That premium goes to the sponsor.
Withdrawals do not wait for agents to repay, because a line is never bigger than its backer's stake. Within 7 days of a deposit, a 0.5% fee stays with the lenders who stay. The contracts are experimental and have had no outside audit. Capital is at risk.
What a default does
Four transitions. The last one is a default, and the backer pays.
A stock line instead keeps tokens worth what is owed plus 20%, and sends the rest back. A $PRIORS stake burns in the same transaction: three quarters of the owner's stake.
Score
A pure function of the on-chain record, from 0 to 1000. Nobody sets it by hand.
| Term | Weight | What it counts |
|---|---|---|
| Dollar-days repaid | up to 400 | Principal times time it was actually held |
| Qualified loans | up to 200 | Loans held at least 7 days |
| Backing at risk | up to 150 | Someone's money standing behind the agent |
| Time enrolled | up to 150 | Days the agent has been in the pool |
| Recourse honored | up to 100 | Carried from v1. Pool v2 has no recourse |
| Vouched defaults | −75 each | A default the backer had to pay |
A default sets the score to 0. Short, small loans add little. Money held for weeks adds the most. Score v2 also counts x402 income and late repayments.
Invariants
Properties the tests check. Passing them does not prove the contracts safe.
Parameters
The live site reads getParams() from the deployed pool. These are the public settings this preview describes.
| Parameter | Value | Meaning |
|---|---|---|
| Fee | 1% / 30 days | Fixed when the agent borrows |
| Fee split | 50 / 25 / 25 | Lenders, sponsor, reserve |
| Loan size | $5 to $500 | Within the vouched line |
| Term | 1 to 30 days | 10 days at most on a $PRIORS line |
| Early withdrawal | 0.5% | Within 7 days, kept by other lenders |
| First treasury line | $5 | Needs a refundable 5 USDG bond |
| Chain | 4663 | Robinhood Chain |
$PRIORS and the treasury
$PRIORS launched on Robinhood Chain, paired with USDG. An owner can stake it behind an agent on the seat vault. The vault's own USDG backs the line. A first treasury line is $5, after a 5 USDG bond. The bond comes back once the agent has no line, no open loan, and no default, and at least 4 days have passed. The treasury is topped up in USDG by hand.
Seat tiers start at $25 to $50 with no record required, then step through $100, $175, $300, and $500. A step needs time at the previous tier and counted loans. Part of what the protocol earns buys $PRIORS now. Placing that behind lines is next.
Addresses
Robinhood Chain, chain id 4663. Confirm every address on the live site and the explorer before you trust it.