The boundary
Private before selection. Public after effects.
Private before selection
Builders do not have to reveal their edge before evaluation.
Evidence for allocators
Allocators can inspect scores, diagnostics, hashes, and artifacts.
Auditable effects
Final effects remain inspectable after execution.
Risk review
Risk and policy can be reviewed after the fact.
What public settlement can reveal
Final effects can reveal:Market and route effects
Market and route effects
Asset movement, market impact, and route-level behavior.
Timing
Timing
Execution timing and cadence can be visible.
Repeated behavior
Repeated behavior
Approximate strategy behavior may be inferred over repeated public activity.
Why public effects are useful
Public effects make it possible to audit:- whether execution followed approved policy,
- whether reported outcomes match observable effects,
- whether guardrails held,
- whether artifacts describe what happened.
Related pages
Privacy model
What is hidden and what can leak.
Guarded vaults
Future deployment under explicit guardrails.
Private strategy evaluation flow
Protected inputs before public evidence.
