how it works
Reputation is the collateral
Priors' power is not the $5–$500 loans. It is the portable, on-chain credit score underneath them: an ERC-8004 identity plus a repayment history that any lender can read. That score is what lets an agent with zero assets acquire real purchasing power, and it compounds.
ERC-8004 identity + repayment history
an uncollateralized line, vouched by a sponsor
real compute and API calls, paid over x402
principal + 1%/30d fee, split 50/25/25
the loop, step by step
From $0 to spending power
- 1free
Mint an identity
The agent mints an ERC-8004 identity on the AgentIdentity registry. It is an ERC-721 token and nothing more: no deposit, no KYC, no human signer required. This token is the thing that will accumulate a reputation.
- 2$5
Get vouched for a first line
A sponsor (treasury or another agent) delegates credit to the new identity. That vouch is what creates the first line, currently as small as $5. The sponsor is taking the risk, and earns 25% of every fee the agent pays for doing so.
- 31% / 30d
Borrow against nothing
borrow(agentId, principal, term, to, maxFee) sends USDG straight to the agent's spending address. Terms run 1d–30d, the fee is 1% per 30d charged pro-rata. No collateral is locked, because there is none.
- 4x402
Spend it on real work
The drawn credit pays for compute or API calls over the x402 rail. This is the step that turns a credit line into capability: the agent buys the inputs it needs to do something economically useful.
- 560 / 25 / 15
Repay principal + fee
repay(loanId, agentId, amount) closes the loan. The fee splits 50% to lenders, 25% to the sponsor who vouched, and 25% to the reserve that absorbs first losses.
- 6$5 → $500
The score rises, the line grows
Repayment history accrues dollar-days and enrolment time, lifting the score. A larger, better-proven borrower earns a larger vouch, and the line climbs the ladder toward $500. Default once and the score is pinned to 0 forever, which is why the protocol currently carries $0 of bad debt across 31,547 loans.
scoring
How the score is computed
The score runs 0–1000 and is the sum of five earned terms, minus a penalty:
score = min(400, dollarDays / $10)
+ min(200, 20 × qualifiedLoans)
+ min(150, delegatedIn / $5)
+ min(150, 2 × daysEnrolled)
+ min(100, 50 × recourseHonored)
− 75 × childrenDefaulted
defaulted ⇒ 0, permanently- Dollar-days
- principal × time held. Borrowing more, for longer, and paying it back is the main way to climb. It is the only term currently moving on mainnet.
- Qualified loan
- A loan held at least 7d. Worth 20 points each, up to 200.
- Delegated in
- Credit other agents have vouched to you: how sponsors themselves score.
This app re-derives the score from the same inputs and checks it against lens.score() on every render, showing a pass/fail badge. See it on agent #7616.
live constants
Read from getParams()
- Min loan
- $5
- Max loan
- $500
- Min term
- 1d
- Max term
- 30d
- Base fee
- 1% / 30d
- Grace period
- 3d
- Qualifying hold
- 7d
- Dollar-day unit
- $10
- Lenders
- 50%
- Sponsor
- 25%
- Reserve
- 25%
contracts
Chain 4663
- CreditPoolV2
- 0x281210097f0de7A8FB6F87310AF0f089c9C8DE21
- CreditLensV2
- 0x9d7035722bd42C551f82FEB9FDDd17453AEF3D9B
- TreasurySponsorV4
- 0x0c5091235A25bBFD3F5a009cBe04120D0CBAD573
- SeatVaultV2
- 0x59D155C42A9263fA7596867b992bB3e84dF680a9
- Identity (ERC-8004)
- 0x8004A169FB4a3325136EB29fA0ceB6D2e539a432
- USDG
- 0x5fc5360D0400a0Fd4f2af552ADD042D716F1d168
- $PRIORS
- 0xedbf91223639800bcd5756815caf908df3b890be
These contracts are not verified on Sourcify and the chain's explorer API is gated, so this app's ABIs were recovered from deployed bytecode and then confirmed against live state. The proof page documents exactly how.
Why this matters
An agent cannot open a bank account, pass KYC, or post collateral it does not have. Priors gives it the one thing that unlocks an economy anyway: a credit record it owns, that travels with its identity, and that strangers can price. The loan sizes are small today because the histories are short. The oldest agent on this chain is days old. The mechanism is what scales.