Market & liquidation
Price gaps, whole-lot discounts, transfer restrictions and a lack of buyers can cause losses. A one-block liquidity quote does not guarantee a later exit.
Capital for paid agent work.
Isolated, NVDA-backed USDG credit for x402 agent budgets on Robinhood Chain.
Unaudited. Real funds are at risk. No sequencer protection: prices can predate a network outage or recovery.
A lender funds an offer for one named borrower. The borrower accepts the fixed terms and deposits collateral. Principal moves to an isolated agent budget. Payments reduce the budget, not the debt.
The credit model
Fully funded, isolated positions
Each offer escrows the entire principal. There is no shared liquidity pool, promised APR or on-demand withdrawal from an active loan. The lender can cancel an unused offer. After expiry, anyone can return it to that fixed lender.
Interest and repayment
Interest is a fixed full-term amount, owed even on early repayment. Repayment closes the budget, recovers its unused balance and charges the payer the remaining debt. Anyone may sponsor repayment; collateral and surplus always return to the original borrower. Repayment and cancellation do not consult prices.
Interest comes from the borrower, not x402. There is no guarantee that an agent earns enough to repay.
Liquidation and losses
At maturity, or above the immutable debt-to-collateral threshold, a buyer may purchase the entire collateral lot at oracle value minus the configured discount, bounded by the buyer's maximum payment. Unused budget and sale proceeds pay lender debt first. Surplus returns to the borrower; a shortfall is recorded as lender bad debt.
This requires a willing buyer and working prices and transfers. It is not an automatic swap or guaranteed keeper exit. No partial repayments or collateral releases are implemented. Oracle failure can block liquidation even at maturity. Late USDG sent to a closed budget can be recovered permissionlessly to remaining lender bad debt first, then the borrower; the caller receives none.
Authority
No protocol owner, upgrade, discretionary rescue or platform fee. The borrower chooses merchants and may rotate the budget agent. Previously signed authorizations are unusable while another agent is selected, but can become valid again if the old agent is restored before their deadline.
Immutable deployment terms
- Initial LTV / liquidation threshold / discount
- 30% / 50% / 5%
- Max raw NVDA per position
- 1
- Maximum NVDA / USDG price age
- 86400s / 86400s
- Corporate action lead / recovery
- 86400s / 3600s
Chosen at deployment; not independently approved safe limits or a promise of executable liquidation liquidity.
Agent payments
Each isolated budget fixes its asset, borrower, merchant list, total limit, per-payment cap and expiry. The agent cannot execute arbitrary calls or withdraw collateral. Direct transfers and canonical x402 exact Permit2 witness transfers share a finite aggregate allowance. Contract-owned budgets use EIP1271 signatures. Closing a budget revokes its allowance.
Canonical Permit2 settlement and a controlled HTTP cycle passed on public testnet with mock assets and our loopback resource. External facilitators and third-party paid APIs are not validated. The provided Node HTTP client remains testnet-only; contract deployment does not enable a production hosted payment service.
The client checks merchant, asset, URL and maximum price. Durable key-free payment records prevent a restart from silently authorizing a second payment. After an uncertain result, reconcile the recorded transaction before retrying. A paid receipt does not prove useful delivery, and payment and borrowing are not atomic.
Risks & limitations
Oracle & network
Price checks reject stale, future, incomplete and nonpositive rounds and issuer market pauses. Raw units use already multiplier-adjusted Chainlink answers and a separate USDG feed. Corporate-action windows and post-action prices are checked. No sequencer downtime or recovery checks exist in this revision. Freshness alone does not identify pre-outage prices. There is no independent exchange-session calendar; issuer pause and configured freshness are the available market checks.
Issuer & stablecoin
Stock Tokens are tokenised debt securities, not ordinary shares with shareholder rights. Issuer restrictions, corporate actions and USDG depeg or transfer risks remain.
Software & counterparties
Contracts, agents, merchants, facilitators and RPC providers can fail. Float has not been independently audited. Never assume a profit or full recovery.
Deployment status
- Credit core
- Deployed on mainnet
- External paid API / facilitator
- Not validated
- Independent audit
- Not performed
- Sequencer protection
- Not implemented in this revision
View credit contract0x19b83638096895E83B58935b8Bb7549a7e5f20DC
Historical V2 testnet smoke: 3 test USDG borrowed, 0.50 paid through the canonical proxy for our controlled HTTP resource, 3.03 repaid and all collateral returned. A later 0.25 test-USDG donation to the closed budget was recovered to its fixed borrower, without reopening spending. These are test figures, not TVL, yield or mainnet activity.
Canonical assets and feed identities were resolved through official registries and onchain getters. The feeds' 24-hour heartbeat is not a safe freshness recommendation. The mainnet deployment receipt, creation input, runtime bytecode and immutable terms have been checked against the recorded deployment. A funded mainnet loan and an external paid API have not yet been tested. Source verification is prepared for manual submission, not completed.