Working capital that releases only when the cargo's own evidence says it should.
Evidence-gated trade finance, settled in Paxos USDG on Robinhood Chain.
Production build live on Robinhood Chain Testnet.
Mainnet release next.
Arbitrum Open House Singapore · Online Buildathon · October 2026
02 · The problem
Trade finance today
A lender sees paperwork, not the container.
So it lends blind, or does not lend at all. The exporter waits about two months for cash it has already earned, while the cargo is at risk in transit.
Daniel, the financier, holds the documents. The reefer stays out of sight.
Atradius Payment Practices Barometer India 2025: average B2B payment terms of 52 days
03 · The problem, in numbers
Sourced, highlighted on the original pages
The gap is large, and it is documented.
$2.5T
global trade finance gap in 2025 (ADB)
41%
of SME trade finance applications rejected (ADB)
52 days
average B2B payment terms in India (Atradius)
~$35B
lost by biopharma each year to cold-chain failures (IQVIA)
04 · Why now
Why now
Money became programmable. Now it can answer to evidence.
$
Paxos USDG
A US-dollar stablecoin from Paxos Digital Singapore. The only money CargoFlow moves.
RH
Robinhood Chain
An Arbitrum chain built for tokenised real-world assets, with USDG deployed.
P-256
Passkeys on chain
The RIP-7212 precompile lets a buyer pay with Face ID, no seed phrase.
Rs
Arbitrum Stylus
Evidence fusion in Rust, measured 19x cheaper than the Solidity reference.
USDG 0x7E95…802F on chain 46630 · 10 contracts source-verified · Stylus: 31,511 vs 611,945 gas at 128 readings (stylus/README.md)
05 · The solution
The solution
Capital that answers to the cargo's evidence.
1
A financier escrows USDG for one shipment.
2
Tranches release only when signed sensor evidence passes an on-chain policy.
3
The buyer's one payment repays the financier, pays the exporter and hands over the bill of lading.
Illustrative characters. Everything they do is a real contract call.
PHYSICAL REALITY · CRYPTOGRAPHIC EVIDENCE · EVIDENCE CONFIDENCE · FINANCIAL RISK · AVAILABLE CAPITAL · USDG SETTLEMENT
06 · How it works
How it works
Five steps, every one on chain.
1
Escrow
Daniel deposits the 40,000 USDG facility into the vault.
2
Evidence
Signed readings fuse into a score from 0 to 100.
3
Release
Evidence passes the policy: 8,000 USDG to Meera.
4
Pause, prove
Score 48 pauses it; a Groth16 proof resumes it.
5
Settle
One 100,000 USDG payment splits and moves the title.
Reference numbers: 100,000 USDG invoice, 40,000 USDG facility, 3% fee.
createFacility · depositCapital · commitEpoch · evaluateAndReleaseMilestone · pauseFinancing · resumeWithProof · settle (contracts v3, 3 Oct 2026)
07 · Safety nets
Built into the contracts
Safety nets are part of the protocol.
Title moves with money
The carrier's ERC-721 bill of lading leaves escrow inside the buyer's payment.
Automatic recovery
A proof is prepared once a probe has eight fresh in-band readings. The exporter signs once.
Parametric cover
Pays out after N failed epochs in a row, proven from the commit order.
Disputes go to an arbiter role that can never release money · README "Under the hood" · docs/architecture.md
08 · The product
Live at cargoflow.adoranto737.workers.dev
A product each party can use today.
Shipment dashboard: settled, five of five milestones released.
Exporter wizard: the Pharma 2 to 8 °C template fills the policy.
Pages: /track, /exporter, /financier, /buyer, /market, /ebl, /arbiter, /shipments, /developers, /docs, /deployments · open the live app
09 · The product
Every party, its own session
Fund it, pay it, ask Claude about it.
Financier: portfolio, exposure and one-click deposits.
Buyer: confirms delivery and pays with a passkey.
claude.ai: 25 tools through remote MCP. Claude never holds a key.
Remote MCP server: cargoflow-mcp.adoranto737.workers.dev/mcp · every write is signed by the party in its own wallet or passkey
10 · Alerts
Alerts
Alerts on Telegram, email, Slack and webhooks.
Recorded on a real phone during a live testnet run. RELEASED and PAUSED arrive within seconds of the chain events; RECOVERY_READY opens the recovery card, ready to sign.
Bot: @Cargo_FlowBot
Alerts on
Released, paused
Recovery ready
One tap to sign
Shipment CF-LIVE-1791103821739 · pause 0x2f1ad742… · releases 0xf0f6a44d… and 0x7d778679… · also in-app
11 · Technology and moat
Technology and moat
Five mechanisms that enforce each other.
01
Signed readings
Each device signs; every epoch records its source.
02
Fusion score
Dempster-Shafer fusion with a published formula.
03
Bound ZK proof
Groth16, bound to the contract's own signals.
04
Locked vault
Only the controller's rules release USDG.
05
Title with payment
The bill of lading moves inside the payment.
A copy needs all five, tested together: 366 contract tests and 25 circuit tests.
Groth16: 13,494 constraints, about 1 s to prove, about 0.25 M gas to verify · immutable core, eight fuzzed invariants · docs/architecture.md, docs/benchmarks.md
12 · Traction
Traction
Production build live on Robinhood Chain Testnet.
Mainnet release next.
10
contracts source-verified on chain
4
packages published on npm and PyPI
25
MCP tools on a public remote server
3
extensions on Arbitrum Sepolia
Tests, all passing
366
contract
25
circuit
296
frontend
18
end-to-end
92
SDK
27
MCP
36
gateway
25
Python
@cargoflow/sdk, @cargoflow/mcp, @cargoflow/gateway on npm and cargoflow on PyPI (0.1.0) · Fhenix and GMX Sourcify-verified, Stylus engine · /deployments
13 · Live runs
Live runs
Full lifecycles settled on chain, with receipts.
CF-SG-VAX-0202
Website run: excursion, automatic ZK recovery, settlement.
CF-SG-VAX-0401
The buyer paid with a passkey: three ERC-4337 user operations.
CF-LIVE-1791029236301
v3 reference run through the hosted API, each party signing.
v1 hero run
22 transactions in 116 seconds, proof verified on chain.
Every hash links to explorer.testnet.chain.robinhood.com · full transaction tables in the README, "Live on Robinhood Chain Testnet"
14 · Market
Market size, bottom-up
Start with one corridor inside a $2.5T gap.
TAM
$2.5T
SAM
~$15.2B
SOM
~$152M
TAM
$2.5T
Unmet trade finance demand in 2025 (ADB).
SAM
~$15.2B
India's pharma exports, $30.47B, × 50% sold on credit.
A1
SOM
~$152M
1% of SAM financed through CargoFlow by year 3.
A2
Revenue
$0.46–0.76M
A planned 30 to 50 bps fee on that volume, per year.
A3
Capital
~$22M
Financier capital outstanding at 52-day terms.
A4
Assumptions: A1 Atradius' India-wide B2B credit share applies to pharma · A2 1% is a target · A3 planned fee level · A4 365 / 52, about 7 turns a year · PIB, FY 2024-25 pharma exports · ADB · Atradius
15 · Business model
Business model
Paid when capital moves, not before.
01
Protocol fee
30 to 50 bps of each drawn facility, inside the settlement waterfall (A3).
02
Cover premiums
A share of default and parametric cover written through the CoverPool.
03
Software and data
Portfolio risk, evidence API and MCP for funds and insurers.
One 100,000 USDG payment, split on chain (reference facility)
58,800 to the exporter
40,000 principal
1,200
Principal and the 3% fee go to the financier. The protocol fee is one more line in this split.
Non-custodial: the ReceivableVault is the sole USDG custodian · fee levels are planned (A3) · contracts/src/ReceivableVault.sol, CoverPool.sol, packages/python
16 · Competition
Landscape, by category
Each category solves one piece. CargoFlow joins them.
Sees cargo condition
Releases on evidence
Payment and title together
Private telemetry
Stablecoin settlement
Bank trade finance
letters of credit, collections
Factoring fintechs
advance on the buyer's credit
Cold-chain monitoring
loggers and visibility
On-chain RWA credit
pooled private credit
CargoFlow
a facility per shipment
yes
partly, on documents
not a design goal of the category
Categories described by their typical design, not by any one company. Ratings are CargoFlow's assessment; individual providers may differ.
17 · Go-to-market
Go-to-market
One corridor first: India pharma to Singapore.
Nhava Sheva
Colombo
Singapore
Door 1 · logger vendors
Make existing loggers finance-ready
@cargoflow/gateway signs and sends logger exports.
Door 2 · credit funds
Short-tenor USDG yield, evidence attached
The market suggests a fee band per request.
Door 3 · forwarders, insurers
Reach exporters through who they use
The Pharma template sets 2 to 8 °C in one click.
Pilot target: 3 exporters, 1 financier and 1 logger vendor on this lane, then more lanes and cold-chain categories · India pharma exports $30.47B in FY 2024-25 (PIB)
18 · Roadmap
Roadmap, each milestone with an exit test
From production build to the first real facility.
M0 done: contracts v3 verified, live app, API and MCP, passkey payments, ZK recovery, four packages.
M1
Security
Independent audit and a public ZK ceremony
35% of grant
M2
Real evidence
Logger pilots and a secure-element board
25% of grant
M3
Mainnet
Real USDG on Robinhood Chain, protocol fee
20% of grant
M4
Legal and title
MLETR opinion on the bill of lading
10% of grant
M5
Scale
Calibrated scoring, a second corridor
after the grant
Exit tests: audit report published · 3 real shipments evidenced from physical loggers · first outside-financier facility settled in real USDG · written legal opinion · second corridor live
19 · The ask
The ask: the milestone-based grant
A 30,000 USDG grant funds M1 to M4.
35%
25%
20%
10%
10%
Security audit and public ZK ceremony
M1
10,500 USDG
Pilots and logger hardware
M2
7,500 USDG
Mainnet launch and first facilities
M3
6,000 USDG
Legal: MLETR opinion and structuring
M4
3,000 USDG
Team and infrastructure, six months
all
3,000 USDG
Released like a CargoFlow facility: each tranche follows a milestone's exit test.
Arbitrum Open House Singapore Online Buildathon (HackQuest): 115,000 USDG in prizes, including up to 30,000 USDG in milestone-based grants · any prize follows the same split
20 · Buildathon fit
Arbitrum Open House Singapore
Every criterion, with something to click.
Deployed on an Arbitrum chain
10 contracts verified on Robinhood Chain Testnet (46630).
Smart contract quality
366 tests, eight invariants, an immutable core with no proxy.
Product-market fit
A sourced problem, five role portals, four published packages.
Innovation
Evidence-gated capital, bound ZK recovery, a keyless Claude co-pilot.
Real problem solving
End-to-end runs with every transaction linked.
Paxos USDG
The only money CargoFlow moves.
Robinhood Chain
Its RIP-7212 precompile carries the passkey flow.
Evidence: README "Built for Arbitrum Open House Singapore", "Live on Robinhood Chain Testnet", "Measured, not claimed" · docs/project/21-hackathon-alignment.md
21 · Team and contact
Team and contact
Built by its founder, live and open.
Arpit Singh
Founder
Website
GitHub
npm
@cargoflow/sdk · mcp · gateway
PyPI
Claude
MIT licensed · Telegram alerts: @Cargo_FlowBot · API: cargoflow-api-75ul.onrender.com