The network is the unit.
Bilateral payments hide offsets that become visible when every counterparty is considered together.
02 / OUR THESIS
CAPITAL SHOULD
WORK.
NOT COMMUTE.
Every unnecessary transfer is capital in transit. The opportunity is to settle the network’s final economic position with fewer dollars.
Conserve the position.
Netting changes the movement of money. Each participant must finish with the same net economic claim.
Respect the edges.
Liquidity caps, eligible routes and deadlines determine which theoretical savings can actually settle.