Verify it yourself

Each check below says what it proves, how to run it against the public reads, and what you should see. Change the size, strike or asset and run it again.

Fees and prices#

• The taker fee is the published formula. Fee = max(3 bps × size × spot, $0.25), capped at 12.5 % of the premium, per request (per piece). node audit.mjs fee <qty> <spot> <premium> <fee shown>.
• You were filled by the single best maker, inside your bound. For your fill, read the quote at the same moment: no admitted maker with room for your whole size quoted better, and your price is within Max slippage of the oracle venue's side (ask for a buy, bid for a sell). GET /chain/fills + GET /chain/quote.
• A round trip is legs minus fees plus holding costs. Open and close the same option: the money that moved is exactly the two fills, the two fees and the holding cost. Nothing else.

Positions and equity#

• Your equity is the ledger's own number. accounts.<key>.margin.marked in /chain/state equals what the screen shows.
• Marks are the oracle venue's closeable side. For each leg, the mark equals the oracle venue's bid (bought) or ask (sold) at that strike and duration, except where the confidence check skipped a point.
• Protect delivers the Liq. price you chose. The plan's liquidation price equals where equity meets maintenance in your state after the open.

Leaving a position#

• Closing one leg keeps the money in the account. A single close pays the writer and the fee; the rest stays in the account.
• Close account pays the whole residual to your wallet, minus the one fee that rule allows.
• Withdrawals queue by the published limits. A limit never refuses; it queues and says when.

The venue's own money#

• The money trail is closed. The dollars the ledger says it holds are the dollars HyperCore holds.
• Prices are fresh before anything is judged. No act is judged on frozen prices (/health → oracleTier).

Making a market#

• A maker is paid its own quote, and TLP quotes the oracle venue. A fill against your signed quote is at exactly that price; the venue's TLP program answers at exactly the oracle venue's bid and ask.
• A cross-maker round trip is bounded. Buying from one maker and selling to another at the same strike and duration gains at most the oracle venue's spread there, before fees (the price limit; there is no crossing breaker).

What only the operator runs#

Checks that need the venue's price controls (moving the oracle, freezing an asset) are run by the operator; their results are published with each release.

Kept in lockstep with the code: a check fails if this page drifts.