Onchain equipment leasing.
Yield from Main Street machines, now scaling into robotics.
DualMint is an onchain equipment lessor for the physical economy, from everyday machines to robotics. It acquires title to revenue-generating equipment — laundromats, HVAC units, and robotics — under a finance lease model and distributes operating cash flow to depositors as yield in USDC monthly. The yield comes from machine operating revenue, not token emissions, lending spreads, or financial engineering. DualMint has distributed since May 2025 with zero operator defaults.
The machines were running before DualMint existed. A laundromat on the corner, an HVAC unit on a roof: street-level businesses that earn every day, in every economy, regardless of what markets do. Intelligence is moving into that same equipment. Connected devices became smart infrastructure. Then advanced machinery. Then robotics, and DualMint finances it the same way it always has: buy the machine, lease it to whoever runs it, distribute what it earns.
Track Record
Distributing since
May 2025
no interruptions since inception
Operator defaults
0%
across full portfolio history
RWAs originated
1,250+
sold onchain, more weekly
Operator pipeline
$50M
ready for vault deployment
Asset categories
4
Laundromats, HVAC, arcade, vending
Yield Mechanics
Machine runs
Operators run physical machines. Revenue is generated by usage: wash cycles, HVAC contracts, arcade plays, vending transactions.
Telemetry verifies
IoT sensors cross-reference cycle counts and uptime against reported operator revenue. Machine-level verification, not credit assessment.
Revenue reconciles
Operating surplus is reconciled monthly. DualMint takes a 10% processing fee from cash flow. The remainder distributes.
Yield distributes
Depositors receive USDC monthly, automatically.
The yield ceiling is the operating margin of the underlying business, not the risk-free rate or lending spreads.
Why This Yield Is Different
Most onchain yield compresses when conditions shift. Treasury yield compresses when rates fall — a 200bps cut removes half the yield on a tokenised T-bill. Credit yield compresses when spreads tighten, as more capital chases lending opportunities. Operating margins do neither. A laundromat that generates 30% gross margin generates 30% gross margin in any rate environment.
The more important distinction is the failure mode. Market collateral fails through sentiment — exogenous, fast, and correlated across the book. Operational collateral fails through utilisation — endogenous, gradual, and visible via IoT telemetry months before any cash flow impact. A portfolio with operational collateral is not just better-diversified on a yield axis. It is structurally protected against the correlated drawdowns that compress every other instrument at once.
“Boring business” search volume reached a five-year global high in 2026, right as intelligence started moving off screens and into equipment. DualMint holds the assets, the operator pipeline, and the track record on both sides of that shift: the everyday machines that proved the model, and the robotics that scale it.
Treasuries compress with rates. Credit compresses with spreads. Operating margins do neither.
The yield ceiling is set by the operating economics of physical businesses, not by monetary policy or lending conditions. It does not move with rate cycles.
A default is a write-down. A shortfall is a repair.
When a DualMint operator underperforms, we exercise step-in rights: the machine is reassigned to a pre-vetted backup and cash flow resumes. DualMint holds title. The operator is replaceable.
The structure is copyable in weeks. The pipeline and the record are not.
A $50M operator pipeline built across laundromats, HVAC units, arcade machines, vending networks, and robotics over two years — with a 13-month distribution record at zero defaults — cannot be replicated on a launch timeline.
Everyday Assets
Coin-operated laundromats
Ecowash
Machines earn from wash cycles. Same revenue regardless of economic conditions.
Distributes monthly in USDC
Commercial HVAC units
AirUp
Revenue from service contracts and energy savings.
Distributes monthly in USDC
Arcade claw machines
The Claw
Pay-per-play revenue across high-traffic locations. IoT-tracked cycle data.
Distributes monthly in USDC
Distributed vending machines
Vending networks
Per-transaction revenue from corridor and commercial-site placements.
Distributes monthly in USDC
Structure
- —BVI Special Purpose Vehicle (SPV), bankruptcy-remote legal structure
- —Chainlink oracle infrastructure for onchain attestation
- —M0 stablecoin infrastructure partner
- —Machine Yield Index built on the ERC-7540 async vault standard
The legal and technical structure is designed for institutional participation. Full documentation available on request.
What's Next
The Machine Yield Index aggregates cash flows from all asset categories into a single diversified pool. Depositors hold one position. Machines across laundromats, HVAC, arcade, and vending distribute into it monthly. It's not live yet. Everything else is. Q3 2026.
The Team
- Bill Lees—CEO & Co-Founder
- Ed Steward—COO
- David Sakhi—CRO