Global credit markets hold $300 trillion in debt but are still running on infrastructure built decades ago.
@pactfinance is rebuilding structured credit from the ground up, fully onchain.
Traditional structured credit depends on layers of intermediaries, each adding fees and friction. Upfront diligence alone is expensive. Covenant enforcement happens quarterly. Borrowing base shortfalls can go weeks undetected.
Most onchain credit platforms function as refinancing layers rather than native lending systems. They tokenize existing offchain loans, but the underlying origination, servicing, and enforcement remain dependent on traditional intermediaries.
PACT Protocol rebuilds the system from first principles bringing all components fully onchain. Rather than using blockchain as a passive record keeping layer, it embeds compute, data, and execution directly into the credit lifecycle.
Loans originate directly as NFTs onchain with embedded repayment schedules, covenant logic, and payment routing.
Each loan NFT carries a unique identifier (similar to a CUSIP), borrower data, collateral details, and performance metrics.
The NFT is the loan itself. PACT calls this "farm to table RWAs": assets native to blockchain infrastructure.
This eliminates the reconciliation gap that plagues tokenized credit. When a borrower pays, the entire system updates in real time, adjusting principal balance, payment history, waterfall distributions, and facility metrics automatically.
Double pledging becomes impossible since a loan NFT can only have one owner. Covenant checks execute on every draw request. Violations are caught immediately.
The composability unlocks the full structured credit stack. Loan NFTs aggregate into loan books, which get pledged as collateral to facilities. Borrowing base logic and concentration limits are all enforced through code.
And to date, PACT has been able to scale quickly. The project has originated over $1.9B in loans across more than 900k borrowers.
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