Morrow

How it works

From accepted invoice to settled USDC.

Morrow coordinates buyer acceptance, competitive lender funding, and one transparent repayment flow.

  1. 01

    Business creates the receivable

    Business

    The business records the buyer, face value, due date, requested advance, and maximum funding cost, then sends the invoice for review.

  2. 02

    Buyer accepts the obligation

    Buyer

    The buyer reviews and accepts the amount, due date, and designated settlement route before the invoice can enter funding.

  3. 03

    Lenders compete for the allocation

    Lender

    Lenders bid an amount and APR. Lower rates fill first until the requested advance is covered; bids above the business's ceiling are rejected.

  4. 04

    The business receives its advance

    Business

    After the requested amount is filled, the business finalizes the auction and receives the USDC advance.

  5. 05

    One buyer payment settles every claim

    Everyone

    The settlement waterfall allocates the protocol fee, lender principal and return, then sends the remaining value to the business.

The settlement waterfall

A 10,000 USDC demo invoice with a 9,200 USDC advance. The buyer's single payment is allocated across every claim by the same settlement rules.

Protocol servicing fee

92.00 USDC

Lender principal and return

9,200.00 principal · 79.99 return

9,279.99 USDC

Business remainder

628.01 USDC

Checkpoint 2 uses simulated transactions and browser-local state. Arc Testnet contracts and test USDC settlement are planned for the final MVP.

For businesses

Create a receivable, obtain buyer acceptance, compare funding offers, and receive working capital early.

For lenders

Inspect buyer-accepted receivables, compete on amount and APR, and track every funded position.

For buyers

Review the obligation, keep the agreed payment date, pay once, and receive a clear settlement receipt.