Five steps, one isolated market, zero surprises between issuance and maturity.
Capital is committed to a specific market — 30, 90 or 180 days. There is no shared pot blending durations together.
The note represents the lender's claim, priced below par using the rate that cleared for that tenor moments earlier.
Collateral posted, proceeds released now. The rate is fixed the instant the note is minted — it cannot move for the life of the loan.
Value rises on a known schedule between issuance and maturity. No coupon dates, no rate resets, nothing to monitor in between.
Borrower repays par, lender redeems at par. The market closes this cycle and opens the next term — clean, every time.
Scrub the timeline yourself, or let it run. The note's price is a straight, known function of time — that's the entire point.
Testnet simulation · 90-day tenor · compressed timescale
The complete design: clearing mechanics, note issuance, collateral and liquidation rules, and the isolation guarantees between tenors.