An operator's guide: how a mutual-clearing loop differs from a credit union and from crowdfunding, and how to launch it with a wizard in the 4pay.online console. Members use the heth.me app. The product is available in beta.
product status
setup wizard in the console
interest inside the loop
Chervonets is neither a credit union nor a fundraising platform. It is a third model: counter-obligations extinguish each other.
A credit union issues interest-bearing loans and pays dividends on shares. The loop has no interest by definition: the system nets counter-claims to zero balance; interest-free loans and the aid fund are auxiliary tools, not the business model.
The banking scenario opens IBAN accounts and outbound payments for members. Here circulation is closed: transfers stay inside the member network, and the unit is internal share or clearing accounting, not money on an account.
A crowdfunding platform raises money from outside investors via escrow under regulatory limits. Pooling in the loop is internal: members fund a shared project together, with share accounting and votes, without external capital.
The operator completes the whole setup with a console wizard — no development.
A consumer credit cooperative, a consumer society or a simple partnership. The unit is internal share or clearing accounting, not a substitute for the national currency.
A step-by-step wizard in the console: admission rules, limits, mutual aid instruments, settlement order. The loop is operational once the wizard completes.
Members install the heth.me app: balances, in-network transfers, joint funding, operation history.
If a community needs accounts, deposits, interest-bearing loans and dividends on shares — that is the cooperative banking scenario: see the Cooperative Banking guide on this site. If the goal is to raise funds from outside investors with escrow and refunds — that is a crowdfunding platform.
Chervonets solves a third problem: a stable community constantly generates mutual obligations — supplies, repairs, transport — and each is usually settled by a separate transfer with fees, although members' claims on each other are nearly equal. The loop nets them out; money settles only the remainder. The practice continues a long cooperative tradition.
All three models run on one platform and do not exclude each other: the loop can be extended with cooperative accounts or a fundraising campaign as the community grows. Chervonets is available in beta: first loops launch with guidance, and every launch is reviewed with the operator. The first jurisdiction is Russia.
Two setup wizards. The operator completes them without development work.
Organisation, team and plan — the base the perimeter is launched on.
Legal form, unit of account, membership rules, limits, mutual aid instruments and the settlement order.
Members work in the heth.me app: balances, transfers inside the network, joint contributions and operation history. The operator runs the perimeter in the dashboard, members act in the app.
Register and go through the setup wizard for the circuit. We choose the legal form together: Chervonets is still in beta, and every launch comes with support.
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