Irion Pay
Whitepaper
A Buy Now Pay Later (BNPL) protocol on Algorand that lets users collateralise holdings to receive instant credit lines with auto-offsetting interest via yield.
01. What is IrionPay?
IrionPay is a Buy Now Pay Later (BNPL) protocol on Algorand that lets users collateralise their crypto holdings (stablecoins and ASAs) to receive an instant credit line, spend it at checkout, and have their interest automatically offset by yield generated from their own deposited assets.
The core differentiator is the yield-offset repayment mechanic: users who deposit assets for yield generation earn returns that are applied directly against their outstanding interest. This creates a self-reinforcing debt reduction engine that rewards long-term holders while providing immediate liquidity for commerce.
Core Innovation
Yield-Offset Repayment
Self-Liquidating Debt
Idle collateral is deployed into lending pools (with potential future partners like Folks Finance) to earn yield. This yield is harvested and applied automatically to clear any outstanding interest on the credit line.
Compounding Growth
If yield exceeds interest, the surplus compounds — reinvesting and generating further yield on itself. Under the right conditions, the user's net position improves even as they maintain an active credit line.
02. System Architecture
Collateral Vaults
Phase 1 accepts Algorand-native stablecoins (USDCa, USDTa) to provide a safe 80% LTV ratio without complex liquidation risks.
Yield Engine
Harvests accrued on-chain yield daily to service interest balances, with remainder compounding back into the pool.
Merchant Checkout SDK
A functional demo storefront demonstrates the viability of an IrionPay merchant widget that settles instantly in stablecoins.
Competitive Landscape
The Future of Credit.
On-Chain and Self-Servicing.
Building the infrastructure for the next billion crypto consumers.
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