Tokenize short-term unsecured debt on Solana — small businesses sell invoices, global investors fund them with USDT, the platform advances 90% immediately. Built for AIFC/AFSA compliance with on-chain KYC via Sumsub and Token-2022 Transfer Hook enforcement.
Video Demo · Colosseum Submission
| Name | Role | Telegram |
|---|---|---|
| Dmitry Osipov | Full-Stack Blockchain Engineer | @oscreed |
| Vladislav Pakhomov | Business Analyst / Bizdev Lead | @riveretosango |
| Andrey Basharov | Product Lead | @ph_andreyy |
| Anton Ledrov | Full-Stack Blockchain Engineer | @lEdrov13 |
- Problem: Small businesses in Kazakhstan wait 30–90 days for invoice payment, starving working capital. Traditional factoring is slow, opaque, and inaccessible to global capital.
- FactorX: Tokenizes invoices as Token-2022 assets on Solana — creditors get 90% advance in minutes, not weeks.
- Problem: DeFi yield often comes from speculative or opaque sources. Real-world debt instruments are locked behind institutional gatekeepers.
- FactorX: Two-tranche model (Senior 5% / Junior 12%) backed by real invoices with on-chain settlement and waterfall payout logic.
- Problem: RWA protocols struggle with KYC/AML — either they ignore it (limiting adoption) or handle it off-chain (breaking composability).
- FactorX: On-chain KYC whitelist enforced at the protocol level via Token-2022 Transfer Hook. Every token transfer is checked — no exceptions.
- Problem: Invoice authenticity is hard to verify across borders, leading to fraud and double-financing.
- FactorX: SHA-256 document hashing on-chain + integration with Kazakhstan's electronic document exchange (EDO) system for independent verification.
- Speed — Sub-second finality makes real-time invoice funding and settlement practical
- Cost — $0.00025/tx allows micro-investments and frequent settlement without fee erosion
- Token-2022 — Native Transfer Hooks enable protocol-level KYC enforcement without wrapper contracts or custom token standards
- Composability — Anchor CPI allows FactorX to integrate with any Solana DeFi protocol for future liquidity routing
- Two-tranche investment model (Senior / Junior) with configurable APY pools
- Full invoice lifecycle on-chain: Funding → Funded → Advanced → Repaid → Claimed
- Token-2022 Transfer Hook enforces KYC on every token transfer
- Sumsub KYC integration with automatic on-chain whitelist management
- Mock EDO import for Kazakhstan electronic document exchange
- Waterfall payout: Senior investors paid first, Junior absorbs risk
- Real-time portfolio tracking with claim functionality
- Three role-based interfaces: Investor, Creditor, Admin
| Layer | Technology |
|---|---|
| On-chain Program | Rust · Anchor 0.31 · Token-2022 (TransferHook, MetadataPointer) |
| Backend | Node.js · TypeScript · Express · @coral-xyz/anchor |
| Frontend | React 18 · Vite · @solana/wallet-adapter · React Router |
| KYC | Sumsub WebSDK + Webhooks (mock mode for devnet) |
| Validation | Zod · SHA-256 document hashing |
| Testing | Anchor Tests · ts-mocha (14 lifecycle tests) |
┌─────────────────────────────────────────────────────────────┐
│ Frontend (React 18 + Vite) │
│ Roles: Investor / Creditor / Admin │
│ Wallet: Phantom via @solana/wallet-adapter │
├─────────────┬───────────────────────────────┬───────────────┤
│ Investor │ Creditor │ Admin │
│ Marketplace│ Submit Invoice / EDO Import │ Advance / │
│ Fund / Claim│ Dashboard │ Settle / │
│ Portfolio │ │ Pools / KYC │
├─────────────┴───────────────────────────────┴───────────────┤
│ Backend (Express + TypeScript) │
│ KYC: Sumsub WebSDK + Webhooks (mock mode without keys) │
│ EDO: Mock electronic document exchange (Kazakhstan) │
│ Oracle: Authorized keypair for privileged on-chain calls │
├─────────────────────────────────────────────────────────────┤
│ Solana Program (Anchor 0.31, Token-2022) │
│ ┌──────────────┐ ┌──────────┐ ┌─────────┐ ┌────────────┐ │
│ │ TransferHook │ │ Whitelist│ │ Pools │ │ Invoices │ │
│ │ KYC enforce │ │ Registry │ │ Sr / Jr │ │ Lifecycle │ │
│ └──────────────┘ └──────────┘ └─────────┘ └────────────┘ │
└─────────────────────────────────────────────────────────────┘
| PDA | Seeds | Purpose |
|---|---|---|
| WhitelistRegistry | ["whitelist_registry"] |
Singleton — authority + verified wallet count |
| WhitelistEntry | ["whitelist_entry", wallet] |
Per-wallet KYC record (kyc_id, country_code, is_active) |
| PoolConfig | ["pool_config", risk_level] |
Per-tranche config: Senior (0) = 5%, Junior (1) = 12% |
| InvoiceAccount | ["invoice", invoice_id] |
Invoice state, vault authority, linked Token-2022 mint |
| InvestorPosition | ["investor", invoice_id, wallet] |
Investor deposit: amount, tranche, rate, claim status |
Funding → Funded → Advanced → Repaid → (Investor Claims)
↘ Defaulted (tokens remain as proof-of-debt)
Prerequisites: Rust 1.85+, Solana CLI (Agave) 3.1.x, Anchor CLI 0.31.x, Node.js 20+, Yarn
# Clone the repository
git clone https://github.com/AntonLED/rwa-platform
cd rwa-platform
# Install toolchain
# Rust
curl --proto '=https' --tlsv1.2 -sSf https://sh.rustup.rs | sh
rustup default stable
# Agave (Solana CLI)
agave-install init 3.1.11
# Anchor CLI
cargo install --git https://github.com/coral-xyz/anchor --tag v0.31.0 anchor-cli
# Node
yarn install
# Set up Solana (shared devnet keypair included in repo)
solana config set --url devnet
solana config set --keypair keys/devnet-authority.json
solana airdrop 2
# Build and deploy smart contract
anchor build
# yarn copy-idl # IDL already in git, run if the contract changed
# anchor deploy # program already in devnet, run if the contract chainged
# Initialize devnet (registry + pools + mock USDT)
anchor run init-devnet
# Start backend (Terminal 1)
cd backend && yarn dev
# Start frontend (Terminal 2)
cd frontend && yarn devOpen http://localhost:5173, connect Phantom wallet, pass KYC (mock mode — instant approval).
Anchor-tests if needed:
anchor test --provider.cluster localnet
# if validator already running
anchor test --skip-local-validator- If step 7 of
anchor run init-devnetfails withAuthority faucet error, just rerunanchor run init-devnet— devnet RPC is occasionally unstable and the script is idempotent.
- Core smart contract — 11 instructions, 5 PDA types, Transfer Hook
- Two-tranche investment model (Senior / Junior)
- Full invoice lifecycle (fund → advance → settle → claim)
- Sumsub KYC integration with on-chain whitelist
- Mock EDO integration (Kazakhstan e-document exchange)
- Three role-based frontend views
- 14 Anchor lifecycle tests
- Mainnet deployment
- Real EDO/ERP integration (1C, SAP)
- Secondary market for invoice tokens
- Multi-currency support (KZT stablecoin)
- Credit scoring oracle integration
- Mobile app (React Native)
MIT — see LICENSE