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Documentation Index

Fetch the complete documentation index at: https://docs.monaris.co/llms.txt

Use this file to discover all available pages before exploring further.

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Overview

When a buyer calls payInvoice(invoiceId) on the SettlementRouter, the following waterfall executes in a single atomic transaction. If any step fails, the entire transaction reverts.

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Settlement steps

1. VALIDATE
   → Invoice exists, not yet cleared, caller is buyer

2. TRANSFER
   → USDC.transferFrom(buyer, SettlementRouter, invoice.amount)

3. CALCULATE
   → protocolFee = amount × 0.5% (50 bps)
   → repaymentAmount = AdvanceEngine.getRepaymentAmount(invoiceId)
     (principal + interest, or 0 if not financed)
   → sellerAmount = amount - protocolFee - repaymentAmount

4. DISTRIBUTE (single atomic transaction)
   → protocolFee → Treasury address
   → repaymentAmount → Vault.repay() + AdvanceEngine.markRepaid()
   → sellerAmount → Seller wallet

5. FINALIZE
   → InvoiceRegistry.markCleared(invoiceId)
   → Reputation.updateReputation(seller, amount)
   → Emit InvoiceSettled event

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Settlement waterfall diagram

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Fee structure

ComponentCalculationRecipient
Protocol feeamount × 0.5% (50 bps)Treasury address
Advance repaymentprincipal + accrued interestVault (via Vault.repay())
Seller payoutamount - fee - repaymentSeller wallet
If the invoice was not financed (no advance taken), the repayment amount is zero and the seller receives the full amount minus the protocol fee.

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Example

Invoice amount:     $10,000 USDC
Protocol fee:       $50 (0.5%)
Advance taken:      $7,000 (with $200 interest accrued)
Repayment:          $7,200

Distribution:
  → Treasury:       $50
  → Vault repay:    $7,200
  → Seller:         $2,750

Total out:          $10,000 ✓

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Atomicity

The entire waterfall — validation, transfer, fee calculation, distribution, invoice status update, and reputation update — executes in a single transaction. If any step fails (insufficient balance, invalid invoice state, contract revert), the entire transaction reverts. No partial settlements are possible.

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Events emitted

The InvoiceSettled event is emitted on successful completion, containing:
  • Invoice ID
  • Buyer address
  • Seller address
  • Total amount
  • Protocol fee
  • Repayment amount (if applicable)
  • Seller payout amount