What am I lending against? River deals finance portfolios of receivables originated by fintech platforms, such as consumer loans, small-business receivables, invoice finance, merchant cash advances, BNPL balances, and similar credit assets. Who can lend? River deals are permissioned. Eligibility can depend on KYC, KYB, accreditation, jurisdiction, deal-specific rules, and transfer restrictions. How do I choose between senior and junior? Senior classes are paid first and take losses last, so they usually target steadier yield. Junior classes take losses first and are compensated with higher expected yield. Why is deposit acceptance asynchronous? Deposits are accepted when the deal can admit capital. Until then, your funds sit in pending deposit holding, outside the deal, and can be cancelled. When do I start earning? After your deposit is accepted and class tokens are minted to you. Why is interest paid separately from class token price? Because the class token separates principal and coupon. Interest is paid as cash. Principal moves when the class NAV changes through settlement. What is the accumulating wrapper? It is the compounding version of the position. The wrapper holds the class token, claims coupon, and retains it in a single ERC-4626 share price. Can I switch between the class token and the wrapper? Yes, subject to the relevant eligibility and flow rules. You can wrap class tokens into the accumulating wrapper and unwrap back out. When can I claim coupon? When coupon cash has been funded. Accrued coupon is visible before then, but only funded coupon is claimable. Can a later loss take back coupon I already claimed or could claim? Delivered coupon sits outside NAV and remains claimable. A later principal loss affects future NAV and future exits while funded coupon remains claimable. How do withdrawals work? You request an exit. The position keeps earning until paid. The servicer processes exits as cash is available, and paid proceeds remain claimable. Is exit timing guaranteed? No. Liquidity depends on the deal and the underlying receivables. River's protection is that queued positions keep earning and exit prices reflect current marks. Can the servicer take my funds? The servicer operates the deal within contract checks. Those checks block self-minting, redirection of claimable proceeds, artificial value creation, and waterfall bypasses. Operational delay or bad timing remains possible. What happens if my eligibility changes? Eligibility can block new deposits, transfer receipt, wrapping, or new exit initiation. Already owed claims and cancellation of pending requests remain available. Where are the technical details? Start with Protocol Architecture,{" "} Dual NAV & Exchange Rates, and{" "} Security Model.