Diapago puts Pay later on US-dollar supplier bills inside the POS a shop already uses: a per-bill escrow pays the supplier from a funder's stablecoin on the due date, and the shop repays without holding ETH (testnet prototype on Arbitrum Sepolia).
Our design partner, a shop owner in Peru, sells in soles, and many of her suppliers bill her in US dollars. We offered to fix her exchange rate and she declined. What she wanted was the supplier paid on the date. When her dollars were short on a due date, a founder provided the US dollars from his own money, informally and at zero fee. This is one shop, and nobody independent checked it.
Diapago is for small and mid-size merchants in any corridor who sell in local currency and owe suppliers in US dollars. Nationally, most imports are billed in dollars: Peru 91.6%, Indonesia 87.5%, Brazil 83.4% (World Bank, BCRP, BCB).
Diapago is a widget for the POS or ERP a merchant already runs (shown today in mock POS systems).
On a dollar supplier bill, she taps Pay later, sees the amount and pay-back date, and confirms.
Once approved, a per-bill escrow (DueEscrow) holds a funder's stablecoin and releases it once to the supplier's fixed payout address, at or after the due date.
She repays in USD on agreed terms and can settle early whenever she buys her dollars, at her own rate.
Each repayment carries the bill's invoice reference, and the indexer credits only the bound token and reference. Repayment is tracked, not enforced on chain.
Proposed price: 2% per 30-day pay-back window per covered bill. Not charged yet.
She repays without holding ETH. She signs an EIP-712 repayment intent plus an EIP-2612 permit, and our relayer broadcasts it and pays the gas, about 0.0000026 ETH for the 23 Oct repayment, taken from its receipt. A script also reads the chain's own fee estimates from the ArbGasInfo and ArbSys precompiles.
The escrow lifecycle ran on Arbitrum Sepolia on 23 Oct. We deployed DueEscrow and MemoPay, funded one bill with 10,000 test dollars and released it at the due time. An earlier release call reverted (local call, not mined). A relayed repayment of 4,000 followed while the merchant held 0 ETH.
Limits: the run used our own test token (symbol USDG, not Paxos USDG), one operator key held every role, the repayment was partial, and nothing is on Arbitrum One.
Stylus is written, not activated. The settlement arithmetic is also in Rust (stylus-sdk 0.10, 10 tests pass), checked against the TypeScript reconciler on one shared table. On 8 Oct, cargo stylus check returned an activation charge of 2^64-1 on Arbitrum One and Arbitrum Sepolia, which we read as activations paused.
forge test on the Solidity contracts: 86 passed, 0 failed on a fresh clone (25 Oct). A demo puts the widget inside four mock POS systems, with a mini SDK showing the three steps to plug it in. Each demo store gets its own account, with balances read live from Robinhood Chain testnet. Approval in the demo is simulated. No supplier has received real money through Diapago.
Traction: one design partner, one more shop owner interviewed, no paying merchants.
Team: Richard's previous project, Pact Network, won the Agentic track of the Arbitrum Open House London Buildathon. Emerson built the POS our design partner uses and has deployed Rust on Arbitrum Stylus.
Our gate is five merchants who name a fee they'd pay. We plan to fund a first capped set of 4 to 10 bills ourselves to build a repayment record; outside capital would come after counsel and a repaid record from unrelated merchants. We want design-partner merchants now, and funders for bills once that first set is repaid. Reach us at diapago.com.