What is Merces?
Status: Built, runs on simulatorStatus: Pending counselStatus: Built, runs on simulator
Merces is software and a protocol for raising capital against a capped share of future income.
The person raising capital is the issuer. A backer provides capital in exchange for Human Equity Units. Each unit represents a defined part of the income claim within a series, the record for one set of terms.
What makes the claim bounded?
A threshold protects the first part of income earned during a reporting year. The payment calculation applies the agreed share rate only to income above that threshold. It subtracts the amount already accounted for earlier in the year. Nothing due this quarter is a normal result.
The cap limits the gross amount counted per unit. It is a ceiling, not an amount a backer is promised. Fees reduce what reaches the backer.
Illustrative example
Example: income crosses the threshold
The numbers here are computed by Stage 1's reference math from made-up inputs. They are not a forecast.
In this illustrative series, the yearly threshold is $40,000.00 and the total share rate is 6%. Income so far in the year is $35,000.00 at the end of the second quarter. The payment for that quarter is $0.00 because the threshold has not been crossed.
At the end of the next quarter, income so far is $60,000.00. The payment before fees is $1,200.00. These figures show the calculation; they predict nobody's income.
Who it is for
The product brief is written for people raising capital for their work: artists, engineers, freelancers and founders. It also describes backers and attestors, the registered reviewers who sign particular reports and decisions. Those are intended roles, not a statement that applications are open today.
What it does not represent
The product describes this as an income claim, not a loan, not a share in a company, and not ownership of a person. It gives no product role for a backer to choose the issuer's job, location or relationships. The intended legal instrument still needs counsel's final text; this description is not a legal classification for any jurisdiction.
What the other side sees
Payment amounts are public onchain. The backend's access rules let eligible backers read the agreed threshold and share rate. They do not grant backers access to hardship reasons or supporting evidence; the chosen attestor receives that material. Hiding an income document does not make a visible payment secret.
For the vocabulary behind the calculation, use the glossary. Merces and Mercery explains how the names fit together.
Not advice
Nothing in these docs is legal, tax or investment advice. Merces is software and a protocol, not a lender or broker. Before you decide anything, talk to a qualified adviser who knows your situation.
What can go wrong
A capped claim can produce little or no payment. The cap does not promise that it will ever be reached. Contract texts are placeholders pending counsel, and the checked protocol has no testnet deployment. Do not treat this explanation as an open raise or a promise of future payments.