Documentation
The spread index, the risk model, the vault, the weekly report and the typed-data schema.
Foundations
Mathematics
Risk
Skew fee and rebate
The crowded side pays, the thin side is paid, and a level book costs nothing.
The escrowed payout cap
No position can win more than 6× its margin, and that is set aside the moment it opens.
Two clocks and a clamp
How the mark is set so one flash-loaned swap cannot settle a market.
Stress tests
What each mechanism must hold against, stated as outcomes.
The vault