hackquest logo
  • Learn
  • Explore Course
  • Build
  • Explore Hackathon
  • Project Archive
  • Community
  • Forum
  • Global Event
  • My Community
  • Co-learning
  • Organization Hub
  • More
    • Glossary
    • Blog
    • Faucet
    • Job Station
    • Press Kit
    • Founder
hackquest logo

Lockgate Finance

Exit markets for gated private credit funds. Built on Arbitrum and Robinhood chain.

Videos

Project image 1
Project image 2
Project image 3
Project image 4

Tech Stack

React
Solidity
Next

Description

Lockgate

Exit markets for gated private credit funds. Sell your accepted redemption to a professional buyer.

Live on testnet: founder-house.lockgate.finance · Arbitrum Sepolia + Robinhood Chain testnet

The problem

Tokenized credit backed by T-bills or crypto loans is already liquid. Holders swap it on DEXs.

Real private credit funds are not liquid:

  • Gated. Redemptions are paid quarterly, capped at about 5% of the fund per quarter.

  • Whitelisted. Only approved holders can own the fund, so no open pool can buy it.

  • No secondary. There is almost no market for the units, and cash offers come at a deep discount.

So an investor whose redemption the fund has already accepted, for a fixed amount and a known payment date, still waits weeks or months for the cash.

What Lockgate does

Lockgate turns that accepted redemption into something you can sell whole.

The holder sells the claim (this one payout, no fund units, no NAV exposure) to a whitelisted professional buyer. The holder gets cash now. The buyer gets paid by the fund on the payment date.

How it works

Four parties: the holder, the fund's paying agent, a professional buyer and a licensed operator who admits the parties.

  1. Register the claim. The holder adds the fund's confirmation letter: amount, NAV date, payment date. It is sealed in the browser, and only its fingerprint goes on-chain.

  2. The fund locks it. The paying agent confirms the claim on Arbitrum and locks it: no cancellation, and the payout goes to the claim's payout route, which pays whoever holds the deed. Only then is a Redemption Deed issued to the holder. No lock, no deed. The deed is frozen and only moves inside a Lockgate settlement.

  3. A buyer makes a firm offer. Approved buyers see the verified claim and a research memo on payment delays, loan defaults, flows and liquidity. They set a price, a cash date and an expiry.

  4. Three signatures, one transaction. Holder, buyer and operator each sign the same fingerprint of the terms and the standard assignment agreement. At settlement the contract checks that the buyer is still eligible (Chainlink ACE), the terms are unchanged, all three signed, and the holder still holds the deed. Then cash goes to the holder and the deed goes to the buyer in one Arbitrum transaction. Either everything moves or nothing does.

  5. Payout. On the payment date the paying agent pays once. The contract pays whoever holds the deed, now the buyer, and retires the deed.

The buyer can pay in USDG on Arbitrum or in stock tokens on Robinhood Chain. Stock tokens sit in escrow on Robinhood Chain and are released over Chainlink CCIP once the deed moves on Arbitrum.

Why it works with the fund, not around it

  • The fund's paying agent is in the loop: it confirms and locks the claim, and pays on the payment date as it always would.

  • Nothing about the fund changes. No new units, no NAV impact, and no liquidity is drained from the fund.

  • Only admitted, whitelisted parties can hold a deed, so the fund's investor rules hold.

  • Fund identifiers (ISIN, custodian, transfer agent) travel with the claim.

What's built (testnet)

Piece

Where

Deed, settlement, consents, payout route

Arbitrum Sepolia

Buyer eligibility enforced inside settle

Chainlink ACE policies

Deed records + stock-token escrow

Robinhood Chain testnet, over Chainlink CCIP

Paying-agent portal: claim book, lock, pay

founder-house.lockgate.finance

Holder, buyer and operator apps, testnet run page

founder-house.lockgate.finance

Tests + browser end-to-end journey

CI on every push

Business model

A fee on every settlement, shared with the distributor who brought the deal. Every fund we onboard makes the next deal cheaper: buyers learn the claim type, and later deals price faster.

Go to market

Start with funds, scale through distributors.

  • Funds first. Small and mid-size private credit funds. Their paying agent signs on once, and every holder in the redemption queue gets an exit without draining fund liquidity.

  • Buyers lined up early. Credit funds buying claims, because every fund asks about liquidity first.

  • Then distributors. One wealth platform or distributor brings many funds' holders.

Why Arbitrum

The RWA capital and the tokenized-fund issuers are here. Arbitrum is the clearing layer, Robinhood Chain brings stock-token buyers, and at scale we plan a permissioned Orbit chain with Stylus running the settlement logic.

What's next

  1. A licensed operator and a design-partner fund whose paying agent signs off on transfers.

  2. The first real settlement.

  3. 20 conversations in the next 2 weeks across holders, credit-fund buyers and fund administrators.

Verify it on-chain (testnet)

  • Atomic settle on Arbitrum Sepolia (deed to buyer, USDG to holder, one transaction): 0xa741aa65…f5f91d

  • Chainlink CCIP, Arbitrum Sepolia → Robinhood Chain testnet (deed record): 0x62686170…4ea01

  • Chainlink CCIP, Robinhood Chain testnet → Arbitrum Sepolia (AMD stock-token lock for the $2k deal): 0x20fe2ac7…5a27c

  • Chainlink CRE checks run as the official CLI simulation (cre workflow simulate): the paying agent's lock, and all three consents before settle.

Links

  • App: https://founder-house.lockgate.finance

  • Repo: https://github.com/gabrielantonyxaviour/lockgate-founder-house

Contracts (29 deployed)

Arbitrum Sepolia: clearing layer (14)

Contract

Address

LockgateSettlement: claims, paying-agent lock, offers, three consents, atomic settle, payout

0x9549829c0833C2E9cf3768Ebf8A9Ba726797d54F

LockgateDeed: the Redemption Deed, frozen except inside a settlement

0x97CDA05B1A0736535B14A7fAb0e8F8e98CDbC404

Test USDG: the cash leg

0x6d66a0c66f37c3F211AFebab9405763f8FA56E74

Chainlink ACE PolicyEngine: runs the compliance policies inside settle

0x3E066F019D62e6cdBAb229217498b9c5A6B9EbcC

Chainlink ACE IdentityRegistry: participant identities

0xd0d05fEf053A21828321A9273002b13DdD12536f

Chainlink ACE CredentialRegistry: eligible-buyer credentials

0x81Ba255e392392789e3618E6676507BB745Bc873

LockgateSettlementExtractor: hands settle parameters to the ACE policies

0x2927b1f7C76AA9302621fC3dee30B024ab11d677

ACE policy: buyer must hold a valid credential

0x86EbE9dB7c20d7EE7F2D81759b7dAe54697a822D

ACE policy: only an admitted operator issues credentials

0xb7f3d139128D54E6F994Bcf0DE88d5Da8D1c71d2

ACE policy: per-deal ticket cap

0x0C3fF18373D7683b34DF2eF956F0e2205D232cc2

ACE policy: emergency pause

0x625Ab5Ca543cde5DeA9f9F53137162b30CE39af5

ACE policy: explicit reject list

0x66F27A822eD0C73892b89174A57DC9dBBDEa8934

LockgateDeedPublisher: sends the deed record to Robinhood Chain over Chainlink CCIP

0xa4609b5077Ac2830e171f4cCf07a35c49c26e389

LockgateForeignDesk: receives stock-token locks over CCIP, settles with stock, triggers the release

0x2dDF88CCAdff651030e971B93153c5A865c1fA89

Robinhood Chain testnet (15)

Contract

Address

LockgateSettlement: claims, paying-agent lock, offers, three consents, atomic settle, payout

0x7b26647372E10B7e363A8A857FF88C0C0b63913b

LockgateDeed: the Redemption Deed, frozen except inside a settlement

0x438101394357f7785d971bcd4081CCEbF210C61A

Test USDG: the cash leg

0x1B3b102adc9405EBB9A6a9Ff85562D5c8E5eB0D4

Chainlink ACE PolicyEngine: runs the compliance policies inside settle

0x2Dfc3375e79DC0fc9851F451D8cc7F94B2C5854c

Chainlink ACE IdentityRegistry: participant identities

0x77f303585E1846Be2720EcF82c14f64b172AdA91

Chainlink ACE CredentialRegistry: eligible-buyer credentials

0x9DFBFbA639a5Fd11Cf9bc58169157C450Ce99661

LockgateSettlementExtractor: hands settle parameters to the ACE policies

0x6feB4f3eeD23D6cdDa54ec67d5d649BE015f782d

ACE policy: buyer must hold a valid credential

0x11191A01670643f2BE3BD8965a16F59556258c2d

ACE policy: only an admitted operator issues credentials

0xD8f50a509EFe389574dD378b0EF03e33558222eA

ACE policy: per-deal ticket cap

0xDbddf0CD81fc748916970E6871cB79f2F71C67D5

ACE policy: emergency pause

0xd1C09961798017267187297Cc2E032a0F1E3605b

ACE policy: explicit reject list

0x394Aaa86484074E77A1260759278E18d4819Ee78

LockgateDeedRegistry: deed records received over CCIP

0x883172EDFF24FE83FDE776f7A9Aaa59CCe5ABA2B

LockgateStockEscrow: holds the buyer's stock tokens, releases them over CCIP when the deed moves

0x01081513F0BF252f8912FFBed3a3Fe18F04B9DAd

Sample stock token: the stock-token payment leg

0x34d8C26065093d04B97E251187D8C6e63A5a7640

Progress During Hackathon

Founder House was a growth sprint for Lockgate, not just a build. What changed in 3 days (23-25 Oct):

WEDGE: SHARPENED TWICE BY MENTORS

  • Product + APAC partnerships mentors (Offchain Labs) named a direct competitor and the buyer-side chicken-and-egg. We rewrote our difference: they buy a fund token from one pool; Lockgate sells an accepted redemption to many buyers.

  • Partnerships, product marketing and GMX mentors showed that T-bill and crypto-backed credit tokens already exit on DEXs. We narrowed the wedge to gated, permissioned private credit funds: 5% quarterly gates, whitelisted buyers only, no secondary.

GO-TO-MARKET: NEW PLAN

  • From the distribution panel (Paxos, Pendle, SBI Digital Markets) and the GTM sessions: start with funds, scale through distributors. One fund's paying agent signs on once; one distributor brings many funds' holders. Product and GTM canvases rewritten around this.

  • Buyer outreach during the event (early): asked credit lenders and market makers how they would price an accepted claim. One market maker booked a call for 27 Oct; another replied "let's do a call"; an RWA accelerator offered a call on buyer and investor intros.

  • Arbitrum Foundation offered ongoing support on BD, marketing and fundraising; first call booked for 26 Oct.

  • A tokenized ABS issuer replied in writing: "yes it is interesting for early exit, I need to understand your terms and needs and we can plug it".

PRODUCT: BUILT FROM FEEDBACK, SAME DAY

  • An ecosystem operator asked how the fund stays in the loop and about ISIN, custodian and transfer-agent data. We shipped those fields and a standard assignment agreement behind the terms fingerprint.

  • Whole repo written at the event: ported the app to EVM, Chainlink ACE eligibility inside settle, live on Arbitrum Sepolia and Robinhood Chain testnet, CCIP deed records and stock-token escrow on Robinhood Chain, an in-app testnet run page, CI with browser end-to-end tests.

PITCH

  • New one-liner: "Exit markets for gated private credit funds." Deck rebuilt to a 9-slide demo-day format; new pitch and demo films.

NEXT 2 WEEKS

  • 20 conversations across holders and wealth platforms, credit funds as buyers, and fund admins. The goal is written yeses on both sides before the first real deal.

Team Leader
GGabriel Antony
Project Link
Deploy Ecosystem
Arbitrum SepoliaArbitrum Sepolia
Sector
DeFiInfraRWA