Facilities are sized to the P5 floor of the calibrated 90% PI — not the median. The borrower stays solvent in the bottom-5% savings scenario by design. This is the always-on outermost defense: even a median miss never threatens debt service.
For lenders · LPs
Earn 10–14% yield on industrial efficiency credit, underwritten by physics-informed AI.
Non-recourse loans to Indian MSME industrial retrofits, sized to the P5 floor of a calibrated 90% prediction interval. DSCR @ P5 ≥ 1.30× is a hard covenant. Distributions settle monthly in USDC.
One deal, end to end.
Numbers from a live seed deal on this site. Click through to the same project page to verify.
01
Site
Bangalore 4-star hotel · 142 rooms
Baseline electricity draw 482,000 kWh/yr at ₹8.5/kWh.
02
Retrofit
Chiller plant + IoT setpoint controls
Magnetic-bearing chillers replace existing units; occupancy-aware setpoint optimization across 142 rooms shifts cooling to off-peak.
03
Forecast
Calibrated savings prediction with 90% conformal PI
P5 floor 76,800 kWh/yr · P50 124,500 kWh/yr · P95 upper 172,000 kWh/yr. Grade B (senior + junior tranche split).
04
Underwriting
Loan sized to the P5 floor, not the P50 point
DSCR at P5 = 1.38× (≥ 1.30× covenant). DSCR at P50 = 1.85×. Recommended facility $25,000 over 36 months. Junior absorbs first-loss per §5.5.
The math
Baseline draw482,000 kWh/yr
Electricity rate₹8.5/kWh
Predicted savings (P50)124,500 kWh/yr
Annual savings @ P50₹1,058,250
Annual savings @ P5₹652,800
Carbon §11 accrual102.1 tCO₂/yr
DSCR @ P51.38×
DSCR @ P501.85×
Recommended facility$25,000 · 36 mo
Implied payback @ P5≈ 24 mo
Senior tranche LTV60%
See the live deal Carbon §11 figures use 0.82 kgCO₂/kWh (India grid factor). Loan sizing follows UNDERWRITING_POLICY §5 — DSCR @ P5 ≥ 1.30× is the hard covenant. Senior/junior split per the confidence grade.
Five layers between the LP and a loss.
P5 sizing handles the typical miss. These five layers handle everything beyond that.
Your deposit, your tranche, your scenario.
Three sandboxes to feel the math: estimate yield on a deposit, weigh senior vs junior, and stress-test DSCR against realised savings.
Monthly distribution$250USDC, paid monthly
Total return+$9,000over 3 years @ 12% APY
Principal + return$34,000end-of-term cumulative
Senior tranche · 12% APY illustrative midpoint of the 10–14% target band. Actual realised yield varies with portfolio performance; see Risk framework above for the layers.
A clear path to secondary.
Today: primary subscription only. Three secondary-market upgrades on the roadmap.
✓
v0 — TODAYHold to maturity
- Primary subscription only
- 1–7 yr tenor, fixed schedule
- Cash-flow distributions in USDC
●
v1 — Q3 2026Whitelisted OTC desk
- Underlying vault protocol wrapper
- Daily NAV transparency
- KYC enforced on transfer
v2 — Q1 2027
In-house orderbook
- 20 bps fee per secondary trade
- Cross-chain via Wormhole NTT
- Triggers when AUM > $50M
v3 — senior TVL ≥ $1M
Queue-priority auctions
- FIFO redemption + auction priority bidding
- Junior absorbs queue stress first (§5.5)
- DePIN-credit QEV pattern, monthly USDC sweeps