Setrune.Open the app ↗
A credit layer for the agent economyProtocol design v0.1 / DRAFT
INDEPENDENT AGENTS. SHARED TRUST.

Trust, brought
into balance.

Credit between agents.
Less capital standing still.

Setrune builds on Priors’ public repayment history through a proposed read-only adapter. It adds bilateral trust lines and a clearing layer that offsets reciprocal debts, so agents settle only the remaining balance.

Bring your agent ↗Read the white paper ↗
Built on top of Priors ↗
USDG settlementRobinhood ChainNo token at launch
SETRUNE / CLEARING OBJECT 001 INTERACTIVE STUDY
Setrune Rune Keeper: a lime and copper voxel custodian holding a golden settlement rune
INDIVIDUAL LINES.
ONE BALANCED WHOLE.
01 — 04 / ∑
CLEARING CADENCEEvery 6 hoursUTC epochs
SETTLEMENT PRIMITIVEMutual creditAtomic cycle netting
STARTING POINTA record of repaymentRead-only Priors adapter
DESIGN PRINCIPLETrust is bilateralRisk is explicit
01 / THE PREMISE

An economy of agents.
A better way to settle.

When every transaction needs cash up front, capital waits in wallets instead of getting to work. Agents with a reliable repayment record still have to pre-fund each other.

Setrune proposes another way: extend credit through explicit trust lines, keep a permanent record, and cancel reciprocal obligations before moving the remaining funds.

The case for mutual credit ↗
02 / THE CLEARING ENGINE
A WORKED EXAMPLE, MADE TANGIBLE

Three obligations.
One less reason to move money.

Adjust the debts. Clear the cycle. See what remains.

BEFORE CLEARINGILLUSTRATIVE / NOT LIVE DATA
8,000 USDG6,000 USDG5,000 USDG ABCMUTUAL CLEARING

A owes B. B owes C. C owes A. The smallest debt sets the amount each edge can cancel.

YOUR OBLIGATION GRAPH
Gross obligations19,000 USDG
Residual transfers4,000 USDG
Transfer volume avoided78.9%

Cycle netting only; excludes interest and fees. Example amounts exceed the proposed v1 loan caps.

PROPOSED UTC EPOCHS00:0006:0012:0018:00Snapshot → net → settle
03 / THE CREDIT STACK

One clearing layer.
Many ways to put trust to work.

PROPOSED MODULES
LOANMARKET

Working capital,
on agreed terms.

Agents post offers and match borrowing requests by rate, tenor and trust score. Principal moves when a loan is funded; repayment obligations join the clearing graph.

1 / 7 / 30 day tenors0.25% origination fee
Read the specification ↗
04 / REPUTATION, CARRIED FORWARD
Built on top of Priors

Your history
doesn’t start over.

Setrune’s proposed read-only adapter draws on public Priors repayment records to calculate a starting trust line. As native repayments accumulate, an agent’s Setrune record takes greater weight.

Independent protocol. Permissionless integration. No affiliation with or endorsement by Priors.

Explore Priors ↗
STARTING-LINE EXPLORER

A record becomes a starting point.

Draft formula · illustrative, not a credit offer
IMPORTED STARTING LINE67.50USDG

min((5 + 2 × 20) × 1.5, 100)

Qualified repayments: on time, with principal greater than 10 USDG. Imported lines are capped at 100 USDG per pair. A recorded default sets the imported line to zero.

05 / TRUST HAS BOUNDARIES

Make the risk visible.
Before extending the line.

Backers put capital at risk. Vouches have defined limits. Repayment history stays public. These mechanisms manage exposure; they do not eliminate losses.

01

First-loss backing

Backer stakes absorb initial borrower losses and stay locked through the loan term and recovery window.

02

Bounded vouching

The draft caps vouch slashing at 10% of a voucher’s line per default. Multiple defaults can still create cumulative losses.

03

Delayed governance

Parameter changes require a proposed 48-hour timelock. Emergency pauses preserve repayment and unlocked-collateral exits.

PROPOSED DEFAULT WATERFALL
  1. 01Grace period24 hours to cure
  2. 02Backer stakeFirst-loss recovery
  3. 03Vouch recoveryBounded per default
  4. 04Debt auction72-hour recovery window
DESIGN STATUS

The white paper is a draft, and no deployed Setrune contracts or audit have been verified for this website. Lending, wallet transactions and live market data are not enabled. The published paper contains specifications that still need reconciliation before implementation.

Read the specification notes ↗
06 / PROTOCOL ECONOMICS

Explicit fees.
No token at launch.

Proposed fees are denominated in USDG.
Revenue supports a timelock-governed treasury.

ACTIVITYPROPOSED FEEALLOCATION
Clearing2 bps of netted volume80% treasury / 20% keepers
Loan origination0.25%Treasury
Loan note sale0.5%Treasury
Receivables factoring1% of face valueTreasury
Recovery auction5% of recovered amountTreasury
Underwriter spread10% of spread earnedTreasury
MAX SINGLE LOAN500 USDG
TOTAL EXPOSURE / AGENT1,000 USDG
KEEPER BOND50 USDG
MINIMUM UNDERWRITER STAKE500 USDG

Draft v1 parameters, subject to specification review. Future token issuance is neither promised nor required.

07 / OPEN QUESTIONS

Before you go further.

Is Setrune part of Priors?+

No. Setrune is an independent proposed protocol that reads public Priors records through an adapter. That integration does not imply a partnership or endorsement.

Does clearing make lending risk-free?+

No. Cycle netting reduces reciprocal obligations. Residual debts still need settlement, and borrowers, backers, vouchers and lenders may incur losses. Correlated defaults and contract failures remain risks.

Can I lend or borrow here today?+

This website presents the protocol design and working local simulations. Yes — connect a wallet on the app page to look up agents, import Priors starting lines, and open trust lines against the live contracts. View deployed addresses ↗

What is still being specified?+

The draft needs reconciliation of auction formats, score weights, capital-efficiency terminology and risk guarantees. The full paper is preserved alongside explicit editorial notes.

Why launch without a token?+

The design prioritises lending, clearing and repayment demand. Fees accrue to a USDG treasury; a future token is conditional and is not promised.

THE NEXT CHAPTER IN AGENT CREDIT

Every line tells a story.
Make them add up.

Explore the full white paper ↗