Design
Built on Arc
Setoff leans on what makes Arc different from a generic EVM chain. Each feature below is used in the live flow.
| Arc feature | How Setoff uses it | Why it matters |
|---|---|---|
| USDC as gas | Participants hold one asset for fees and settlement. Native USDC is the ERC-20 balance, so one top-up covers both. | No second token to explain or buy. A 25-bill cycle costs about $0.016. |
Memo 0x5294…e505 | Every IOU is posted, and every cycle settled, through Memo with a note. | Invoice text and cycle summaries are indexed onchain, which is what makes the reconciliation CSV possible. |
Multicall3From 0x522f…47D0 | Approve + deposit in one transaction, with the wallet kept as sender. | One confirmation instead of two. |
| Deterministic sub-second finality | A settled cycle is final immediately. | Cycles can run every few minutes; creditors can withdraw right away. |
| EURC | Second settlement currency, netted on its own. | Cross-border businesses can bill in euros. |
| ERC-8004 identity | Participants register a name; the dashboard shows it and checks current ownership. | Counterparties by name, not hex. |
| USDC blocklist | Settlement is ledger-only, and withdrawals are pull-based. | A frozen address can't stall anyone else's cycle. |
What it costs
Fees on Arc are paid in USDC. At Arc's typical base fee of 20 gwei:
| Action | Gas | ≈ USD |
|---|---|---|
| Deploy Setoff | 3,029,503 | $0.06 |
| Settle 6 IOUs | 323,108 | $0.006 |
| Settle 25 IOUs | 808,323 | $0.016 |
| Partial payment cycle (1 IOU) | 115,629 | $0.002 |
| Register an ERC-8004 name | 177,852 | $0.004 |