Tokenized private credit · Arc Testnet

Servicing runs itself.
The record it leaves
is the product.

An originator tokenizes a loan they already made. An agent collects, distributes and marks delinquency on its own — and every period it settles becomes repayment history somebody will pay to read.

Every figure on this page is live: the lattice above, the log below, the record after it and the prices at the end are read from Arc and from the index. There are no mockups here.

00 / Right now

Nobody is touching this.

Arcsettles in native USDC
agent · idle

reading the decision log…

waiting for something to service

01 / The record

This already happened, without anyone watching.

The Graphevery figure, read live
Loading

02 / Issuance

Nothing mints until three people say yes.

World IDgates the write side
  1. 01Propose
    originator
  2. 02Accept
    borrower
  3. 03Approve
    admin
  4. 04Mint
    originator

The originator and the borrower are different people, and that is the point. If whoever sells the exposure were also whoever repays it, they could mint against an address they control, pay themselves on time, and manufacture the spotless record we are selling. One nullifier per address makes two verified addresses two humans — and an admin reads the agreement before anything exists on-chain.

03 / Read path

One index, three consumers.

The Graphthe only read path

The agent

reasons over it to decide what is due and who is late, then acts.

This app

renders every figure on every screen from it. No shadow database.

/intel/*

sells it per query. The byproduct of servicing is the asset.

The agent keeps no database of its own. If it dies, state is intact on-chain and a replacement with the same delegation picks up from the same index.

04 / The asset

Repayment history, priced per query.

Two products, because a three-party structure asks two questions. Does this counterparty pay on time — and do the loans this originator writes actually perform? The second is the one a capital allocator pays real money for.

A stranger with a wallet and no account gets a 402, pays, and receives an answer computed from indexed history.

ArcUSDC settles per query
GET /intel/borrower/0x…402→paid

answers with

  • notesAccepted
  • notesMatured
  • notesDefaulted
  • principalOwed
  • principalRepaid
  • periods.settled
  • periods.missed
  • periods.cured
  • punctuality.onTimeRate
  • punctuality.curedAfterMissing
  • asOfBlock

no account · no API key · payment is the auth

Prices are live from the API. Figures belong to whichever address is asked about — buy one.

05 / Boundaries

What this is not.

Not KYC.
Verification proves a live human. No name, no country, no document.
Not a credit score.
Being verified says nothing about whether a loan gets repaid.
Not a court.
A note is a claim on a contract. Acceptance is recorded, not enforced.
Not a market.
Notes transfer, but there is no order book and no trading venue.

Built on

Arcsettlement

Notes, coupons and per-query payments all move in native USDC. Cheap, frequent settlement is what makes per-query pricing sane.

The Graphread path

One subgraph, three consumers: the servicing agent reasons over it, the UI renders from it, and /intel sells it.

World IDpersonhood

Gates originating and borrowing only. One nullifier per address, so two verified addresses are two humans. Never for buyers, and not KYC.