Design Philosophy

• Delta-neutral execution through CoWs. Trades are sourced from external DEX aggregators and routed into Coincidence of Wants (CoW) cycles. Each cycle settles all trade legs so that no unhedged exposure remains. If a full cycle cannot be formed, fallback swaps are used to complete execution and restore neutrality.

• Restaked vaults as principal-protected supply. Vault curators delegate their capital to staked operators, who use it as temporary execution liquidity. This capital is protected: if operators fail, their stake is slashed and curators’ principal must be returned in full.

• Deterministic protection sequence. When settlement deficits occur, resolution follows a fixed order. Operator stakes are slashed first, receipt collateral is liquidated next, and a capped coverage reserve is invoked only as the final safeguard.