We are thrilled to announce Dow Protocol’s $10.5 Million Seed Round, backed by @mhventures, @Maple_block, @animocabrands, @ArcaneGrp, @HSKChain, Essentia Partners, and Quartet Group. Dow Protocol builds the novel PayFi RWA structure for e-commerce working capital to reach merchants within fractions of a second. E-commerce merchants typically wait 14–28 days for platforms to pay out their sales. Dow Protocol’s asset servicers close that gap by funding merchants early against their pending platform receivables and credit risk data. The repayment and risk systems are integrated natively into the world’s largest e-commerce platforms. Funds are deducted automatically from merchants’ platform balances, ensuring world-leading repayment discipline. With instant cross-border settlement and risk analysis built on platform-integrated data, funds reach merchants as fast as same day. Traditional financing takes 2-3 months. Time is money in this $2.8 trillion working capital market, and merchants are willing to pay premium interest for fast and flexible funding. The future of finance originates on-chain. Working capital will be among the first sectors to move, because programmable on-chain loan terms cut through the default handling and accounting complexity that burdens traditional lending.