Documentation
Technical documentation for the MOVIRA protocol—a decentralized credit infrastructure for invoice-backed lending on Solana.
Protocol Overview
MOVIRA is a DeFi protocol built on Solana that enables businesses to convert verified digital invoices into programmable liquidity. Unlike traditional factoring or invoice financing, MOVIRA operates as a decentralized, non-custodial system where credit decisions are driven by on-chain transaction history and off-chain business intelligence.
The protocol consists of three core components: a digital invoice issuance layer, a credit intelligence engine, and an under-collateralized lending mechanism. Together, these enable real-world businesses to access liquidity without over-collateralizing their digital assets.
System Architecture
Frontend dApp Layer
Web-based user interface built with Next.js and React. Provides wallet connection via Solana Wallet Adapter, invoice creation forms, credit simulation tools, and loan execution interfaces. All user interactions are signed locally via wallet before submission.
Wallet & Authorization Layer
Integration with Phantom and Solflare wallets using the Solana Wallet Adapter library. All transactions require explicit user approval and are signed client-side. No private keys are ever transmitted or stored by the protocol.
Invoice Protocol Layer
Smart contracts deployed on Solana that manage invoice issuance, verification, and lifecycle tracking. Each invoice is represented as an on-chain data structure bound cryptographically to both issuer and recipient wallets. Invoices cannot be altered post-issuance.
Credit Intelligence Layer
Off-chain oracle system that aggregates transaction history, repayment behavior, and business data. Oracle feeds are cryptographically signed and submitted on-chain for credit evaluation. Data sources include Solana transaction logs and permissioned business APIs.
Lending & Execution Layer
Core lending smart contracts that process loan requests, evaluate creditworthiness using oracle-provided data, and execute fund transfers. Implements risk-based pricing models and automated repayment enforcement based on invoice due dates.
Settlement & Accounting Layer
Handles on-chain settlement of loan repayments and invoice payments. Supports programmable payment routing where funds can be automatically split between lenders, protocol fees, and borrowers. All transactions are transparently recorded on Solana.
Digital Invoice Lifecycle
Digital invoices in MOVIRA follow a structured lifecycle from issuance to settlement. Each stage is cryptographically verified and recorded on-chain.
Invoice Issuance
Issuer creates invoice with amount, recipient wallet, due date, and description. Invoice is hashed and stored on-chain with issuer signature.
Verification
Recipient wallet confirms invoice acceptance. Both parties' signatures are recorded, creating an immutable agreement.
Credit Evaluation
If borrowing is requested, credit intelligence oracles analyze issuer and recipient history to determine loan terms.
Loan Execution
Upon approval, loan funds are transferred to borrower's wallet. Repayment schedule is programmed into smart contract based on invoice due date.
Settlement
On invoice due date, recipient pays invoice. Funds are automatically routed to repay outstanding loan principal, interest, and protocol fees.
Lending & Risk Model
MOVIRA's lending model is designed for under-collateralized credit based on invoice quality and borrower reputation. Key risk parameters include:
Maximum loan amount as percentage of invoice value, adjusted by credit tier
Risk-based pricing determined by repayment history and oracle credit score
Maximum loan term tied to invoice due date, typically 30-60 days
Smart contract enforces penalty rates and reports default behavior to credit system
The protocol uses a tiered credit system where borrowers with strong repayment history receive better terms. All credit decisions are executed programmatically through smart contracts with no human intervention.
Security & Trust Assumptions
MOVIRA is built with security-first design principles. The protocol makes the following trust assumptions and security guarantees:
Non-Custodial Architecture
Users maintain full custody of their private keys. The protocol never has access to user funds outside of explicit smart contract interactions.
Smart Contract Audits
All protocol smart contracts will undergo third-party security audits before mainnet deployment. Audit reports will be published publicly.
Oracle Security
Credit intelligence oracles use cryptographic signatures to ensure data integrity. Multiple oracle providers prevent single points of failure.
Transparent Execution
All protocol logic is open-source and verifiable on-chain. Users can independently audit smart contract code before interacting.
Upgrade Governance
Protocol upgrades require multi-signature approval and time-locked execution to prevent malicious changes.