How it works
The streak is the credit score.
Most of the world has no credit history: no pay slip, no card, nothing a lender can read. But almost everyone can pay a small piece every day, and that says more than any pay slip. Streak counts the days.
- your line on day zero
- $10
- every thirty on-time days
- ×2
- the most a streak can borrow
- $2,500
- of every fee, to your backers
- 4/5
Six things, in the order they happen.
Everything the contract does, and nothing else.
1 Someone backs you
Your mum, a friend, a stranger who likes your streak. What they put behind you is yours to borrow against and theirs in shares. Four fifths of every fee you pay is theirs.
2 You draw
Up to your line, in one payment, in your wallet in under a second. Choose three to thirty days to pay it back. The fee is three percent on day one and falls a point a day.
3 A piece a day
Before the day is out, every day. Each piece paid on its own day adds a day to your streak. Pay ahead if you like; it is money, not days.
4 The line doubles
Ten dollars on day zero. Twenty on day thirty. Eighty on day ninety. Two and a half thousand by day two hundred and forty. Every on-time day moves it.
5 A missed day
The streak breaks, back to zero, and the line with it. It is counted on your record, where anyone can see it. Catch up and it starts again from one.
6 A friend can cover
Anyone can pay a day for you. It keeps your streak alive, and it is on the record that they did. A week of silence is written off against the people behind you.
Why Arc
A dollar-a-day piece on a ten-dollar loan only works if it costs nothing to settle and counts the moment it lands. On Arc a piece costs a fraction of a cent and is final in under a second, so the contract itself can keep the streak, in the dollars people already use, and the money is in your wallet the second you draw it.
What is an example
The eight people on the home page are examples and say so: made-up people, example money, but the same arithmetic the contract runs. With Streak’s contract on the registry and a wallet, Start yours gives you a real page, real people put real dollars behind it, and everything on it is read from Arc.
Fair questions.
Is this real?
The eight people on the home page are examples and say so: made-up people on the arithmetic the contract runs. With Streak’s contract on Arc and a wallet, “Start yours” gives you a page, the people who back you put real dollars behind it, and every piece is paid for real.
Why would anyone back me?
Because they know you, and because it pays: four fifths of every fee you pay goes to the people behind you. A stranger backs a long streak for the same reason a bank lends to a good history, except here the history is public and counted by the day.
What happens if I miss a day?
Your streak goes back to zero and your line back to ten dollars. It is counted on your record. Nothing else: catch up on the late pieces and the next on-time day is day one again. A friend can cover a day for you before the day is out.
What if I stop paying?
After a week of silence, what you still owe is written off against the people who backed you, in proportion to what they put in, and you cannot draw again until it is paid back. Your record says so for good.
Why does it double every thirty days?
Because the thing being measured is not how much you have but how reliably you show up. Thirty days on time says more than a pay slip, and the next thirty say more again. The cap is two and a half thousand dollars.
What does the platform take?
A fifth of every fee. The other four fifths go to the people behind the borrower. Backing, drawing and paying cost nothing beyond Arc’s fee.
Can I pay it all off early?
Yes. Only the piece for the day you are in adds a day to your streak; the rest is money, not days. Nothing paid ahead can ever be late.
Want this with your name on it, for your staff, your street, your co-op? Name your price, or free. WhatsApp or Telegram.