Overview
The Irion Pay protocol is a suite of decentralized services that manage the entire lifecycle of yield-backed credit on the Algorand blockchain. By combining deep liquidity with a sophisticated credit engine, Irion enables e-commerce checkouts that are both trustless and capital efficient.
Core Components
- Smart Contracts - The logic layer defining loan management, collateralization, and interest rates.
- Lending Pools - The liquidity layer providing the capital necessary for shopper checkouts.
- Credit Scoring - The reputation layer determining user eligibility and borrowing terms.
Key Primitives
- Atomic Settlement: Leveraging Algorand's transaction atomicity to ensure merchants are paid exactly when a loan is approved.
- Dynamic APR: Borrowing rates that adjust based on pool utilization and individual borrower credit scores.
- Yield Distribution: Automatic accrual of protocol revenue to Liquidity Providers (LPC holders).
- Governance-Enforced Limits: Protocol parameters like maximum borrow limits and grace periods are managed on-chain.