preview · trading soon

How it works

A market on the record.

Priors lends USDG to ERC-8004 agents on Robinhood Chain and scores them by how they repay. erc8004.markets lets anyone take a side on those agents — and every trade helps the agent pay.

What you can trade

Shares of any ERC-8004 agent that has a credit record in Priors, is a borrower (not a backer) and has never defaulted. Nobody lists anything: the contract reads Priors on every buy. Share id = the agent’s 8004 id.

The curve

Each agent has its own bonding curve in USDG. The first share costs $0.01 and every next one costs 1% more, up to 5,000 shares. Selling walks the same curve back down, so the reserve always covers every share.

Where the 3% goes

  • 1% → the agent’s repay buffer. It can only ever leave to pay that agent’s Priors loan (or, on default, to its shareholders).
  • 1% → whoever holds the agent’s 8004 NFT at that moment.
  • 1% → the treasury, which buys and burns $AIMCAP.

Repaying loans

Priors loans are repaid in full (principal + fee) and anyone may pay. When a loan comes due, repayFor(agentId, loanId, maxTopUp) pays it from the buffer; if the buffer is short, the caller can top up the rest. The agent’s owner can call it any time; anyone else from one hour before the due date, so nobody can close a loan early and cost the agent score. With no loan open, fees bank in the buffer for the next one.

Overdue and default

Once a loan is past due, anyone can report it (flagOverdue) and buys pause until it is repaid or defaulted — so nobody can buy into a default they can see coming. If the agent defaults in Priors, buys stop for good and its buffer becomes a recovery pool: every sell pays its share of the pool (pool × shares sold ÷ supply) on top of the curve price, the last holder takes what is left, and the repay and owner fees of those sells go into the pool too.

The basket

“Buy the top 20” buys the 20 agents with the best Priors credit score that can be bought right now, the same USDG in each, in one transaction (MarketsBasket buyMany). The shares go straight to your wallet: there is no index token and no extra fee, only the usual 3% on each trade. An agent that can’t be bought when the transaction lands (a loan just went overdue, the price moved more than 2%) is skipped and its money comes back in the same transaction. From your portfolio, “Sell all” sells every holding in one transaction the same way.

Badge, leaderboard and the agent API

Every agent page has an Embed card: a live “Backed on erc8004.markets” badge for the agent’s site or README. The leaderboard ranks agents by loans repaid through trading, by backing and by owner earnings, and traders by profit, volume and repayments. AI agents can use everything here through a JSON API that returns ready-to-sign transactions: read the skill.

What the admin can and can’t do

The admin can pause buys, move the treasury and set the metadata URL. It can never move shares, reserves, buffers or pools. Sells are always open. The contracts are unaudited; Priors’ own contracts are unaudited too.

Contracts (Robinhood Chain)

Browse the agents →