Construction on PYRAX
Construction is plagued by payment disputes, retainage battles, and slow milestone approvals across owners, GCs, and a deep subcontractor chain. PYRAX turns the payment schedule into milestone-based escrow that releases funds on verified progress, anchors IoT and inspection data on-chain, and keeps bid and margin data shielded while owners and auditors hold viewing keys.
The market
Source: Deloitte, 2024. Figures are indicative and provided for context.
What's broken today
How PYRAX transforms it
Concrete network elements mapped to this business.
Milestone-based construction payments
Funds are escrowed against a schedule of values and released automatically when a milestone's verification condition is met, so contractors are paid the moment work is proven done.
IoT/PropTech progress data on-chain
Site sensors, drone survey, and inspector sign-offs anchor an immutable progress record, giving the escrow contract a trustworthy trigger and the owner a verifiable build history.
On-chain escrow with atomic release
A single escrow holds owner funds and pays the GC and subcontractors in one atomic distribution on release, eliminating the pay-when-paid financing gap down the chain.
Shielded-by-default ZK transfers
Bid amounts, subcontractor margins, and change-order pricing stay confidential on-chain, while the owner and a project auditor hold viewing keys for read-only cost verification.
Reputation for contractors
GCs and subs accrue portable, on-chain reputation from on-time, on-budget, dispute-free completions, letting owners prequalify bidders against verifiable track record.
Buildathon: dApp ideas
Ship-ready concepts for construction on PYRAX.
MilestonePay
01Escrow that releases progress payments automatically when a schedule-of-values milestone is verified complete.
SiteProof
02On-chain progress log that anchors sensor, drone, and inspector data as the trigger for milestone release.
SubChainPay
03Cascading payment contract that pays the GC and every subcontractor tier atomically on each release.
RetainVault
04Programmable retainage account that holds and releases held-back funds against final-completion conditions.
BidPrivate
05Sealed-bid tender dApp where bid amounts stay shielded until the deadline, with an owner viewing key.
ContractorRep
06Reputation registry ranking GCs and subs by verifiable on-time, on-budget completion history.
ChangeOrder
07On-chain change-order flow with shielded pricing and instant, auditable owner approval.
LienWaiver
08Automated conditional-lien-waiver contract that clears with each verified milestone payment.