The mandate, as the vault enforces it.

The owner writes these rules once; the contract checks every one of them inside swear(), before any swap. Avow may make them stricter on its own. Only the owner's wallet can loosen them. 0 attempts have been refused by a clause so far.

Mandate of the Avow vault

Trading ETH, BTC, HSK against USDT on HSKSwap. Open for new notes. Each clause below shows how close Avow has come to it.

I
Largest note
No note may be written for more than $5. Until Avow earns the top tier, its denomination is a share of this.
Checked in swear(): notional ≤ min(denomination, maxNotional)
Largest note so far $0.00. Denomination now $1.00 (Probation).
No attempt refused by this clause yet.
II
Open exposure
All outstanding notes together may never hold more than $5 of the vault.
Checked in swear(): open exposure + notional ≤ maxExposure
0 outstanding, $0.00 exposed now.
No attempt refused by this clause yet.
III
Stop distance
No note may risk more than 3.00% to its void level.
Checked in swear(): |entry − void| / entry ≤ maxStopBps
Widest stop sworn 0.00%.
No attempt refused by this clause yet.
IV
Reward to risk
Every note must stand to gain at least 1.20 times what it stands to lose: target distance over void distance.
Checked in swear(): (target − entry) ≥ minRewardRisk × (entry − void)
No notes yet.
No attempt refused by this clause yet.
V
Horizon
Every note expires within 24 h of being sworn. A note that has not reached either level by then lapses.
Checked in swear(): expiry − now ≤ maxHorizon
Longest horizon sworn 0 s.
No attempt refused by this clause yet.
VI
Slippage
No swap may fill more than 60 bps away from the HSKSwap 5-minute TWAP.
Checked in swear(), settle(): fill price within maxSlippage of the TWAP
Fills so far inside the bound; the last refusal is in the journal.
No attempt refused by this clause yet.
VII
No swearing into a spike
No note may be sworn while the live pool price is more than 100 bps from its 5-minute TWAP.
Checked in swear(): |spot − TWAP| / TWAP ≤ maxSpotDev
Live price is 0.0 bps from the TWAP at the widest pool right now.
No attempt refused by this clause yet.
VIII
Cooldown
Avow must wait 10 min after one note before it swears the next.
Checked in swear(): now − lastSwear ≥ cooldown
No notes yet.
No attempt refused by this clause yet.
IX
Daily loss
Once realised losses reach $2 in a day, no new note may be sworn until the next day (UTC).
Checked in swear(): dailyLoss < dailyLossLimit
Realised loss today $0.00.
No attempt refused by this clause yet.
X
Drawdown
If Avow's realised losses take the vault's realised equity 15.00% below its high-water mark, it freezes until the owner unfreezes it. Price moves in the owner's own holdings do not count.
Checked in settle(): realised equity ≥ HWM × (1 − maxDrawdown) or freeze
No note sworn yet: the high-water mark of realised equity is set at the first note.
No attempt refused by this clause yet.

Standing clauses no one can amend.

These are written into the contract itself. Neither the owner nor Avow can change them; they hold for every vault.

XI
Swear before trading
No swap may happen without a sworn note in the same transaction: asset, side, target, void level, expiry and confidence.
swear() is the agent's only way to trade
Proved by test_honouredLong
XII
Not fulfilled by its own trade
No note may be fulfilled by its own trade: after the opening swap, the live price must still be short of the target.
swear(): post-swap spot strictly between void and target
Proved by test_aNoteCannotBeFulfilledByItsOwnSwap
XIII
No note that loses at its stated odds
Avow cannot swear a note that loses at the odds it publicly states: confidence × reward must exceed (1 − confidence) × risk. Overstated odds are punished by the Brier grade and keep it on Probation.
swear(): p·reward > (1 − p)·risk, odds 50–99%
Proved by test_noNegativeExpectancyNotes
XIV
One note per asset
Only one note per asset may be outstanding at a time.
swear(): no outstanding note on this asset
Proved by test_cooldownOnePerAssetAndHorizon
XV
Stops only tighten
Avow may move a void level toward the entry, never away from it.
tightenStop(): new void strictly between old void and entry
Proved by test_tightenStopOnlyTowardEntry
XVI
Locked funds stay locked
Funds inside an outstanding note cannot be withdrawn, not even by the owner, until the note is settled or revoked.
withdraw(): amount ≤ free balance
Proved by test_ownerCannotWithdrawLockedFunds

Draft an amendment.

Change any clause and watch the rosette redraw. The form marks each change stricter or looser. Stricter changes: the owner signs a free message (no gas) and Avow applies them with tighten(); the vault rejects anything looser. Looser changes: the owner signs amend() with their wallet.

Largest noteUSD

$5. Lower is stricter.unchanged

Open exposureUSD

$5. Lower is stricter.unchanged

Stop distancebps

3.00%. Lower is stricter.unchanged

Reward to risk: 1

1.20 : 1. Higher is stricter.unchanged

Horizonhours

24 h. Lower is stricter.unchanged

Slippagebps

60 bps. Lower is stricter.unchanged

No swearing into a spikebps

100 bps. Lower is stricter.unchanged

Cooldownmin

10 min. Higher is stricter.unchanged

Daily lossUSD

$2. Lower is stricter.unchanged

Drawdownbps

15.00%. Lower is stricter.unchanged

Assets Avow may trade

ETHBTCHSKPause all new notes

Removing an asset or pausing is stricter. Outstanding notes still settle normally.

Preview. The rosette redraws as you amend.

Amendment to the mandate

No changes yet. Move a slider or tick an asset and the amendment fills itself in, clause by clause.

How to read the mandate's rosette

On a banknote the rosette proves the print is genuine. Here each clause drives one harmonic, so two vaults with different mandates can never share a rosette, and any amendment shows at a glance.

Largest noteloop depth of the main rosette
Open exposureouter loops of the main rosette
Stop distancepetal depth
Reward to riskfolds of the centre knot
Horizonradius of the petal ring
Slippagedepth of the outer band
No swearing into a spikeripple of the outer band
Cooldownspread of the main rosette strands
Daily losssize of the centre knot
Drawdownwaves of the inner band
Assetssymmetry of the main rosette
Pausedthe whole rosette greys

Amendment history.

Every change to the mandate, by the owner or tightened by Avow, from the journal.

The mandate has never been amendedIt still reads exactly as the owner first wrote it.

Mandate of the Avow vault

Trading ETH, BTC, HSK against USDT on HSKSwap. Open for new notes. Each clause below shows how close Avow has come to it.

I
Largest note
No note may be written for more than $5. Until Avow earns the top tier, its denomination is a share of this.
Checked in swear(): notional ≤ min(denomination, maxNotional)
Largest note so far $0.00. Denomination now $1.00 (Probation).
No attempt refused by this clause yet.
II
Open exposure
All outstanding notes together may never hold more than $5 of the vault.
Checked in swear(): open exposure + notional ≤ maxExposure
0 outstanding, $0.00 exposed now.
No attempt refused by this clause yet.
III
Stop distance
No note may risk more than 3.00% to its void level.
Checked in swear(): |entry − void| / entry ≤ maxStopBps
Widest stop sworn 0.00%.
No attempt refused by this clause yet.
IV
Reward to risk
Every note must stand to gain at least 1.20 times what it stands to lose: target distance over void distance.
Checked in swear(): (target − entry) ≥ minRewardRisk × (entry − void)
No notes yet.
No attempt refused by this clause yet.
V
Horizon
Every note expires within 24 h of being sworn. A note that has not reached either level by then lapses.
Checked in swear(): expiry − now ≤ maxHorizon
Longest horizon sworn 0 s.
No attempt refused by this clause yet.
VI
Slippage
No swap may fill more than 60 bps away from the HSKSwap 5-minute TWAP.
Checked in swear(), settle(): fill price within maxSlippage of the TWAP
Fills so far inside the bound; the last refusal is in the journal.
No attempt refused by this clause yet.
VII
No swearing into a spike
No note may be sworn while the live pool price is more than 100 bps from its 5-minute TWAP.
Checked in swear(): |spot − TWAP| / TWAP ≤ maxSpotDev
Live price is 0.0 bps from the TWAP at the widest pool right now.
No attempt refused by this clause yet.
VIII
Cooldown
Avow must wait 10 min after one note before it swears the next.
Checked in swear(): now − lastSwear ≥ cooldown
No notes yet.
No attempt refused by this clause yet.
IX
Daily loss
Once realised losses reach $2 in a day, no new note may be sworn until the next day (UTC).
Checked in swear(): dailyLoss < dailyLossLimit
Realised loss today $0.00.
No attempt refused by this clause yet.
X
Drawdown
If Avow's realised losses take the vault's realised equity 15.00% below its high-water mark, it freezes until the owner unfreezes it. Price moves in the owner's own holdings do not count.
Checked in settle(): realised equity ≥ HWM × (1 − maxDrawdown) or freeze
No note sworn yet: the high-water mark of realised equity is set at the first note.
No attempt refused by this clause yet.