IOUs and Claims

IOUs and claims

Send payments to people who don't have a Monipay account yet using the on-chain IOU registry.

How it works

1. Sender issues a payment to an email or social handle.
2. The funds are held in the IOURegistry smart contract.
3. The recipient receives a notification with a claim link.
4. Recipient creates a MoniTag and claims the funds.
5. Funds are released from the escrow contract to the recipient's new wallet.

Walkaway Test for IOUs

If an IOU remains unclaimed after a certain period, the sender can reclaim the funds. This ensures that capital is never permanently trapped in the registry.

Read next

• IOU Registry Contract
• How to Claim