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Settlement
Once a ticket's certificate is posted, anyone can settle it, and the service does so automatically. Settlement splits the buyer's prepaid escrow by the certified hours and pays damages from the seller's collateral when the week fell short by more than the tolerance.
The formulas
For a ticket at a contract price of P USDC per GPU-hour, with H certified node-hours out of 168:
escrow = 1,344 × P
refundbuyer = escrow × (168 − H) / 168
escrowseller = escrow × H / 168 − delivery fee
delivery fee = 2.5% × escrow × H / 168
damagesbuyer = max(25% × P, S − P) × 8 × max(0, 168 − H − 1.68)
- 1.68 hours is the tolerance: 1% of the week. Hours short within it are refunded but pay no damages.
- S is the week's reference spot price for an 8×H100 node, recorded from three named providers' public prices; it never exceeds 20 USDC per GPU-hour. Without one, damages use the 25% floor.
- Hours the buyer verifiably caused (a compliance hold on the buyer's side, or hours an arbitration award assigns to the buyer) are still refunded, but carry no damages.
- Damages come out of the seller's collateral for the ticket, up to all of it. The rest of the collateral is released to the seller.
Amounts are exact to the USDC base unit (one millionth). The seller's gross and the delivery fee round down and the refund takes the exact remainder of the escrow, so any rounding goes to the buyer; damages round up, also in the buyer's favour.
Who is paid first
Cash moves in a fixed order: the buyer's refund first, then the delivery fee, then a lender who advanced against the obligation, then the seller. Damages are paid from collateral and never reduce what a lender is repaid.
Examples
At an example price of 2.20 USDC per GPU-hour, one node-week is 2,956.80 USDC of escrow.
| Certified hours | Refund | Damages | Delivery fee | To the seller |
|---|---|---|---|---|
| 168 (a clean week) | 0 | 0 | 73.92 | 2,882.88 |
| 162 (six hours short) | 105.60 | 19.008 | 71.28 | 2,779.92 |
Six hours short is 4.32 hours beyond the tolerance, so damages are 0.55 × 8 × 4.32 = 19.008 USDC, taking the 25% floor (0.55) when the reference spot is under 2.75.
Other endings
- Not requested at notice. The node-week's full escrow goes to the seller with no delivery fee, and its collateral is released.
- Buyer default (no SSH key committed by W − 60 h). The seller receives the full escrow with no delivery fee; collateral is released; nothing is refunded.
- No confirmed service. A ticket that never reached confirmed access is certified with zero hours: a full refund plus damages on the hours beyond the tolerance.
Collecting
Payouts go straight to each party's USDC account. If an account cannot receive (closed or frozen), the amount waits as a credit and the app shows Collect USDC on the ticket, order or obligation until it is collected.