Rigor Beta Features — Release Notes v1

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November 2021 Beta Release Notes v1

Rigor decentralizes lending and coordinates payment flows with construction logistics so that we can build more homes.

Lending Communities

With Rigor, anyone with a digital crypto wallet can be a home construction lender. Once a lender is KYC’d in the app, Rigor provides lenders direct access to investment opportunities in the fragmented construction market. Lenders are able to create lending communities to coordinate capital.

Lending communities are able to specify their own homebuilder vetting and underwriting criteria, including agreeing on the multiple parties who will be responsible for verifying the completion of tasks (i.e. the homebuilder, contractor, subcontractor, vendor, and/or building inspector).

Lenders escrow committed capital digitally within the Rigor application and begin accruing interest.

Rigor pairs lending flows to task-level, on-chain project management. Because these homebuilder workflows are detailed on Rigor, lenders gain full transparency into a projects’ progress, harmonizing the construction supply chain. As tasks are completed and verified, payment flows immediately. This unprecedented transparency and end-to-end financial coordination decreases investment risk.

Rigor reduces investment risk further by eliminating misaligned capital. On Rigor, money transfers are automatic — through smart contracts directly from the lender to the intended point in the supply chain, without intermediaries.

On Rigor, lenders have real-time visibility into project status, interest accrual on deployed capital, and payment status.

Rigor’s lower administrative burdens and monitoring costs result in more profitable loans and contribute to more affordable housing down the supply chain.

Homebuilders

Rigor provides an open marketplace for homebuilders to create construction project proposals to lending communities. Homebuilders can create and grow their own lending communities, accessing digital liquidity powered by digital dollars without intermediaries. In this process, homebuilders are able to post their projects directly to a community of lenders and set their own terms including the amount of debt needed, the APY and repayment timelines.

Homebuilders post their building plans and vital documentation to their projects, which are accessible to their supply chain of contractors, subcontractors and vendors. Homebuilders can submit work orders to individuals assigned to their projects, verify task compilation, remit for payment, communicate directly with general contractors, subcontractors and vendors and view project finance details across many projects all in one application.

Rigor gives homebuilders complete visibility into all components of a construction project’s financing and task-level details. With financing and task-level details in one application, homebuilders are able to easily and smartly manage available capital over the life of the project to optimize interest costs. This greater efficiency of money flows lowers working capital burdens for the entire supply chain.

Homebuilders pay back their loans on the Rigor application with the assistance of an escrow agent who facilitates the transfer of digital USD.

General Contractor

General contractors can assign tasks to their subcontractors and vendors and coordinate seamlessly and transparency with the homebuilder.

Subcontractors and vendors

Rigor provides subcontractors and vendors one application to communicate task progress to their general contractor and homebuilder. On the application, subcontractors are able to view assigned tasks, mark tasks as complete and provide supporting documentation for those parties who have been delegated responsibility for task verification.

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