{
 "benchmark": "hold-BTC = 1.000",
 "decisions": {
  "by_verdict": [
   {
    "approved": false,
    "horizon_d": 1,
    "mean_ratio_return_pct": -0.52,
    "n": 74
   },
   {
    "approved": true,
    "horizon_d": 1,
    "mean_ratio_return_pct": 0.03,
    "n": 42
   },
   {
    "approved": false,
    "horizon_d": 3,
    "mean_ratio_return_pct": 2.55,
    "n": 74
   },
   {
    "approved": true,
    "horizon_d": 3,
    "mean_ratio_return_pct": 0.0,
    "n": 42
   },
   {
    "approved": false,
    "horizon_d": 7,
    "mean_ratio_return_pct": 6.89,
    "n": 74
   },
   {
    "approved": true,
    "horizon_d": 7,
    "mean_ratio_return_pct": 6.28,
    "n": 41
   },
   {
    "approved": false,
    "horizon_d": 30,
    "mean_ratio_return_pct": -7.35,
    "n": 74
   },
   {
    "approved": true,
    "horizon_d": 30,
    "mean_ratio_return_pct": 2.41,
    "n": 26
   }
  ],
  "horizons_days": [
   1,
   3,
   7,
   30
  ],
  "note": "Every live proposal \u2014 approved or vetoed \u2014 scored against the asset/BTC ratio at fixed horizons. Too few rows to mean anything yet; shown anyway.",
  "scored_rows": 447
 },
 "generated_at": "2026-11-05T08:20:01+00:00",
 "kitsunebi": {
  "confirmed_in_bitcoin": 490,
  "entries": 491,
  "first_live_registration": "2026-09-04T00:43:11+00:00",
  "latest_block": 974606,
  "live_registered": 419,
  "pending": 1,
  "retro": 72
 },
 "live": {
  "as_of": "2026-11-05 07:20:05Z",
  "days": 65,
  "halt_thresholds_pct": {
   "half": 15,
   "halt": 25
  },
  "halted": false,
  "multiple_vs_btc": 1.0043,
  "note": "BTC book only (Kraken). Capital is never shown. The on-chain pot is a separate USDC ledger.",
  "since": "2026-09-02 20:55:00+00",
  "vs_high_water": 0.8774,
  "worst_multiple_since_live": 0.9996
 },
 "pot": {
  "as_of": "2026-11-05 07:20:05Z",
  "multiple_vs_usdc": 1.0,
  "note": "Tokenised-equity pot on Solana, benchmarked in USDC, outside the BTC book."
 },
 "research": {
  "batches": 55,
  "first_run": "2026-09-01",
  "last_run": "2026-11-05",
  "note": "Every trial is pre-registered; the ledger is the denominator for the deflated Sharpe ratio.",
  "runs": 151569,
  "trials": 34160,
  "windows": [
   "post-ETF epoch, Jan 2024 to today: fit Jan 2024 to Aug 2025 (the only ranked window)",
   "holdout, the last 12 months (PASS/FAIL, never ranked)",
   "pre-ETF from 2020 and from 2015 as stress: can fail a line, never promote one"
  ]
 },
 "series": {
  "live": [
   [
    "2026-09-01",
    1.0
   ],
   [
    "2026-09-02",
    1.001
   ],
   [
    "2026-09-03",
    1.0157
   ],
   [
    "2026-09-04",
    1.0283
   ],
   [
    "2026-09-05",
    1.0322
   ],
   [
    "2026-09-06",
    1.065
   ],
   [
    "2026-09-07",
    1.0513
   ],
   [
    "2026-09-08",
    1.0568
   ],
   [
    "2026-09-09",
    1.062
   ],
   [
    "2026-09-10",
    1.0402
   ],
   [
    "2026-09-11",
    1.051
   ],
   [
    "2026-09-12",
    1.0447
   ],
   [
    "2026-09-13",
    1.0328
   ],
   [
    "2026-09-14",
    1.0475
   ],
   [
    "2026-09-15",
    1.0421
   ],
   [
    "2026-09-16",
    1.0762
   ],
   [
    "2026-09-17",
    1.0971
   ],
   [
    "2026-09-18",
    1.1066
   ],
   [
    "2026-09-19",
    1.1025
   ],
   [
    "2026-09-20",
    1.1154
   ],
   [
    "2026-09-21",
    1.0946
   ],
   [
    "2026-09-22",
    1.1114
   ],
   [
    "2026-09-23",
    1.0968
   ],
   [
    "2026-09-24",
    1.1075
   ],
   [
    "2026-09-25",
    1.1394
   ],
   [
    "2026-09-26",
    1.1436
   ],
   [
    "2026-09-27",
    1.1417
   ],
   [
    "2026-09-28",
    1.1221
   ],
   [
    "2026-09-29",
    1.1144
   ],
   [
    "2026-09-30",
    1.1224
   ],
   [
    "2026-10-01",
    1.1001
   ],
   [
    "2026-10-02",
    1.0934
   ],
   [
    "2026-10-03",
    1.0977
   ],
   [
    "2026-10-04",
    1.0976
   ],
   [
    "2026-10-05",
    1.1034
   ],
   [
    "2026-10-06",
    1.1009
   ],
   [
    "2026-10-07",
    1.0935
   ],
   [
    "2026-10-08",
    1.069
   ],
   [
    "2026-10-09",
    1.0737
   ],
   [
    "2026-10-10",
    1.0793
   ],
   [
    "2026-10-11",
    1.098
   ],
   [
    "2026-10-12",
    1.0609
   ],
   [
    "2026-10-13",
    1.0608
   ],
   [
    "2026-10-14",
    1.0447
   ],
   [
    "2026-10-15",
    1.0545
   ],
   [
    "2026-10-16",
    1.0486
   ],
   [
    "2026-10-17",
    1.0407
   ],
   [
    "2026-10-18",
    1.0419
   ],
   [
    "2026-10-19",
    1.0469
   ],
   [
    "2026-10-20",
    1.0487
   ],
   [
    "2026-10-21",
    1.0496
   ],
   [
    "2026-10-22",
    1.0458
   ],
   [
    "2026-10-23",
    1.0432
   ],
   [
    "2026-10-24",
    1.0415
   ],
   [
    "2026-10-25",
    1.0476
   ],
   [
    "2026-10-26",
    1.0518
   ],
   [
    "2026-10-27",
    1.0517
   ],
   [
    "2026-10-28",
    1.0517
   ],
   [
    "2026-10-29",
    1.0435
   ],
   [
    "2026-10-30",
    1.0471
   ],
   [
    "2026-10-31",
    1.0472
   ],
   [
    "2026-11-01",
    1.0371
   ],
   [
    "2026-11-02",
    1.0418
   ],
   [
    "2026-11-03",
    1.0404
   ],
   [
    "2026-11-04",
    1.0047
   ]
  ],
  "note": "One point per daily bar, valued at the bar close, live book and shadow books on the same marks. Multiples of hold-BTC.",
  "shadow": {
   "alt_basket_off": [
    [
     "2026-09-01",
     1.0
    ],
    [
     "2026-09-02",
     1.0
    ],
    [
     "2026-09-03",
     1.0
    ],
    [
     "2026-09-04",
     1.0
    ],
    [
     "2026-09-05",
     1.0
    ],
    [
     "2026-09-06",
     1.0
    ],
    [
     "2026-09-07",
     1.0
    ],
    [
     "2026-09-08",
     1.0
    ],
    [
     "2026-09-09",
     1.0
    ],
    [
     "2026-09-10",
     1.0
    ],
    [
     "2026-09-11",
     1.0
    ],
    [
     "2026-09-12",
     1.0
    ],
    [
     "2026-09-13",
     1.0
    ],
    [
     "2026-09-14",
     1.0
    ],
    [
     "2026-09-15",
     1.0
    ],
    [
     "2026-09-16",
     1.0
    ],
    [
     "2026-09-17",
     1.0
    ],
    [
     "2026-09-18",
     1.0
    ],
    [
     "2026-09-19",
     1.0
    ],
    [
     "2026-09-20",
     1.0
    ],
    [
     "2026-09-21",
     1.0
    ],
    [
     "2026-09-22",
     1.0
    ],
    [
     "2026-09-23",
     1.0
    ],
    [
     "2026-09-24",
     1.0
    ],
    [
     "2026-09-25",
     1.0
    ],
    [
     "2026-09-26",
     1.0
    ],
    [
     "2026-09-27",
     1.0
    ],
    [
     "2026-09-28",
     1.0
    ],
    [
     "2026-09-29",
     1.0
    ],
    [
     "2026-09-30",
     1.0
    ],
    [
     "2026-10-01",
     1.0
    ],
    [
     "2026-10-02",
     1.0
    ],
    [
     "2026-10-03",
     1.0
    ],
    [
     "2026-10-04",
     1.0
    ],
    [
     "2026-10-05",
     1.0
    ],
    [
     "2026-10-06",
     1.0
    ],
    [
     "2026-10-07",
     1.0
    ],
    [
     "2026-10-08",
     1.0
    ],
    [
     "2026-10-09",
     1.0
    ],
    [
     "2026-10-10",
     1.0
    ],
    [
     "2026-10-11",
     1.0
    ],
    [
     "2026-10-12",
     1.0
    ],
    [
     "2026-10-13",
     1.0
    ],
    [
     "2026-10-14",
     1.0
    ],
    [
     "2026-10-15",
     1.0
    ],
    [
     "2026-10-16",
     1.0
    ],
    [
     "2026-10-17",
     1.0
    ],
    [
     "2026-10-18",
     1.0
    ],
    [
     "2026-10-19",
     1.0
    ],
    [
     "2026-10-20",
     1.0
    ],
    [
     "2026-10-21",
     1.0
    ],
    [
     "2026-10-22",
     1.0
    ],
    [
     "2026-10-23",
     1.0
    ],
    [
     "2026-10-24",
     1.0
    ],
    [
     "2026-10-25",
     1.0
    ],
    [
     "2026-10-26",
     1.0
    ],
    [
     "2026-10-27",
     1.0
    ],
    [
     "2026-10-28",
     1.0
    ],
    [
     "2026-10-29",
     0.9996
    ],
    [
     "2026-10-30",
     1.0067
    ],
    [
     "2026-10-31",
     1.0041
    ],
    [
     "2026-11-01",
     0.9949
    ],
    [
     "2026-11-02",
     1.0132
    ],
    [
     "2026-11-03",
     1.0057
    ],
    [
     "2026-11-04",
     0.9701
    ]
   ],
   "alt_no_trims": [
    [
     "2026-09-01",
     1.0
    ],
    [
     "2026-09-02",
     0.9943
    ],
    [
     "2026-09-03",
     1.0096
    ],
    [
     "2026-09-04",
     1.0221
    ],
    [
     "2026-09-05",
     1.0258
    ],
    [
     "2026-09-06",
     1.0582
    ],
    [
     "2026-09-07",
     1.0452
    ],
    [
     "2026-09-08",
     1.0508
    ],
    [
     "2026-09-09",
     1.0561
    ],
    [
     "2026-09-10",
     1.0346
    ],
    [
     "2026-09-11",
     1.0456
    ],
    [
     "2026-09-12",
     1.0391
    ],
    [
     "2026-09-13",
     1.0274
    ],
    [
     "2026-09-14",
     1.0419
    ],
    [
     "2026-09-15",
     1.0366
    ],
    [
     "2026-09-16",
     1.0704
    ],
    [
     "2026-09-17",
     1.091
    ],
    [
     "2026-09-18",
     1.1005
    ],
    [
     "2026-09-19",
     1.0959
    ],
    [
     "2026-09-20",
     1.1084
    ],
    [
     "2026-09-21",
     1.0878
    ],
    [
     "2026-09-22",
     1.1046
    ],
    [
     "2026-09-23",
     1.09
    ],
    [
     "2026-09-24",
     1.1045
    ],
    [
     "2026-09-25",
     1.1369
    ],
    [
     "2026-09-26",
     1.1412
    ],
    [
     "2026-09-27",
     1.1393
    ],
    [
     "2026-09-28",
     1.1198
    ],
    [
     "2026-09-29",
     1.1105
    ],
    [
     "2026-09-30",
     1.1184
    ],
    [
     "2026-10-01",
     1.0963
    ],
    [
     "2026-10-02",
     1.0897
    ],
    [
     "2026-10-03",
     1.0942
    ],
    [
     "2026-10-04",
     1.0941
    ],
    [
     "2026-10-05",
     1.0999
    ],
    [
     "2026-10-06",
     1.0973
    ],
    [
     "2026-10-07",
     1.0899
    ],
    [
     "2026-10-08",
     1.0653
    ],
    [
     "2026-10-09",
     1.0701
    ],
    [
     "2026-10-10",
     1.0761
    ],
    [
     "2026-10-11",
     1.0948
    ],
    [
     "2026-10-12",
     1.0576
    ],
    [
     "2026-10-13",
     1.0589
    ],
    [
     "2026-10-14",
     1.0429
    ],
    [
     "2026-10-15",
     1.0597
    ],
    [
     "2026-10-16",
     1.0484
    ],
    [
     "2026-10-17",
     1.0349
    ],
    [
     "2026-10-18",
     1.0351
    ],
    [
     "2026-10-19",
     1.0414
    ],
    [
     "2026-10-20",
     1.0482
    ],
    [
     "2026-10-21",
     1.0513
    ],
    [
     "2026-10-22",
     1.0385
    ],
    [
     "2026-10-23",
     1.0336
    ],
    [
     "2026-10-24",
     1.0343
    ],
    [
     "2026-10-25",
     1.0483
    ],
    [
     "2026-10-26",
     1.0539
    ],
    [
     "2026-10-27",
     1.0595
    ],
    [
     "2026-10-28",
     1.0587
    ],
    [
     "2026-10-29",
     1.0344
    ],
    [
     "2026-10-30",
     1.0608
    ],
    [
     "2026-10-31",
     1.0573
    ],
    [
     "2026-11-01",
     1.0402
    ],
    [
     "2026-11-02",
     1.0325
    ],
    [
     "2026-11-03",
     1.0361
    ],
    [
     "2026-11-04",
     1.0156
    ]
   ],
   "constant_mix_70_30": [
    [
     "2026-09-01",
     1.0
    ],
    [
     "2026-09-02",
     1.002
    ],
    [
     "2026-09-03",
     1.0066
    ],
    [
     "2026-09-04",
     1.0138
    ],
    [
     "2026-09-05",
     1.0182
    ],
    [
     "2026-09-06",
     1.0376
    ],
    [
     "2026-09-07",
     1.0339
    ],
    [
     "2026-09-08",
     1.038
    ],
    [
     "2026-09-09",
     1.04
    ],
    [
     "2026-09-10",
     1.0241
    ],
    [
     "2026-09-11",
     1.0313
    ],
    [
     "2026-09-12",
     1.0275
    ],
    [
     "2026-09-13",
     1.0205
    ],
    [
     "2026-09-14",
     1.0263
    ],
    [
     "2026-09-15",
     1.0249
    ],
    [
     "2026-09-16",
     1.044
    ],
    [
     "2026-09-17",
     1.0587
    ],
    [
     "2026-09-18",
     1.0618
    ],
    [
     "2026-09-19",
     1.0562
    ],
    [
     "2026-09-20",
     1.0627
    ],
    [
     "2026-09-21",
     1.0563
    ],
    [
     "2026-09-22",
     1.0667
    ],
    [
     "2026-09-23",
     1.0561
    ],
    [
     "2026-09-24",
     1.0593
    ],
    [
     "2026-09-25",
     1.0695
    ],
    [
     "2026-09-26",
     1.0693
    ],
    [
     "2026-09-27",
     1.0704
    ],
    [
     "2026-09-28",
     1.0631
    ],
    [
     "2026-09-29",
     1.0623
    ],
    [
     "2026-09-30",
     1.0633
    ],
    [
     "2026-10-01",
     1.0555
    ],
    [
     "2026-10-02",
     1.0523
    ],
    [
     "2026-10-03",
     1.0547
    ],
    [
     "2026-10-04",
     1.0547
    ],
    [
     "2026-10-05",
     1.056
    ],
    [
     "2026-10-06",
     1.0561
    ],
    [
     "2026-10-07",
     1.0547
    ],
    [
     "2026-10-08",
     1.0432
    ],
    [
     "2026-10-09",
     1.0441
    ],
    [
     "2026-10-10",
     1.0472
    ],
    [
     "2026-10-11",
     1.0497
    ],
    [
     "2026-10-12",
     1.0398
    ],
    [
     "2026-10-13",
     1.0406
    ],
    [
     "2026-10-14",
     1.0378
    ],
    [
     "2026-10-15",
     1.0421
    ],
    [
     "2026-10-16",
     1.0383
    ],
    [
     "2026-10-17",
     1.034
    ],
    [
     "2026-10-18",
     1.0346
    ],
    [
     "2026-10-19",
     1.0361
    ],
    [
     "2026-10-20",
     1.0416
    ],
    [
     "2026-10-21",
     1.0418
    ],
    [
     "2026-10-22",
     1.0377
    ],
    [
     "2026-10-23",
     1.035
    ],
    [
     "2026-10-24",
     1.0356
    ],
    [
     "2026-10-25",
     1.0363
    ],
    [
     "2026-10-26",
     1.0371
    ],
    [
     "2026-10-27",
     1.041
    ],
    [
     "2026-10-28",
     1.041
    ],
    [
     "2026-10-29",
     1.0367
    ],
    [
     "2026-10-30",
     1.0429
    ],
    [
     "2026-10-31",
     1.0405
    ],
    [
     "2026-11-01",
     1.0371
    ],
    [
     "2026-11-02",
     1.033
    ],
    [
     "2026-11-03",
     1.0378
    ],
    [
     "2026-11-04",
     1.0386
    ]
   ],
   "event_blackout": [
    [
     "2026-09-01",
     1.0
    ],
    [
     "2026-09-02",
     0.9943
    ],
    [
     "2026-09-03",
     1.0096
    ],
    [
     "2026-09-04",
     1.0221
    ],
    [
     "2026-09-05",
     1.0258
    ],
    [
     "2026-09-06",
     1.0582
    ],
    [
     "2026-09-07",
     1.0452
    ],
    [
     "2026-09-08",
     1.0508
    ],
    [
     "2026-09-09",
     1.0561
    ],
    [
     "2026-09-10",
     1.0346
    ],
    [
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     1.0342
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     "2026-10-25",
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     "2026-10-26",
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     "2026-10-27",
     1.0384
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     "2026-10-28",
     1.0383
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     "2026-10-29",
     1.0348
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    [
     "2026-10-30",
     1.045
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    [
     "2026-10-31",
     1.0427
    ],
    [
     "2026-11-01",
     1.0317
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    [
     "2026-11-02",
     1.0462
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    [
     "2026-11-03",
     1.0398
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    [
     "2026-11-04",
     1.0056
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   ]
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 },
 "shadow": {
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   {
    "book": "old_exit",
    "class": "B",
    "fee_drag_pct": 0.859,
    "max_drawdown_pct": 10.08,
    "multiple_vs_btc": 1.0262,
    "trades": 32,
    "vs_yardstick_pts": 2.15,
    "what": "The live system without the S80c exit fix: alt coins leave only on the daily-ratio trend flip."
   },
   {
    "book": "maxpain_gap",
    "class": "B",
    "fee_drag_pct": 1.239,
    "max_drawdown_pct": 10.65,
    "multiple_vs_btc": 1.0243,
    "trades": 43,
    "vs_yardstick_pts": 1.96,
    "what": "The live system plus an options max-pain rule near expiry, pre-registered from a public claim."
   },
   {
    "book": "hedge_no_flush_gate",
    "class": "B",
    "fee_drag_pct": 1.042,
    "max_drawdown_pct": 10.65,
    "multiple_vs_btc": 1.0197,
    "trades": 39,
    "vs_yardstick_pts": 1.5,
    "what": "The live system with the hedge rule it used until 5 Oct, kept as the comparison for that change."
   },
   {
    "book": "fresh_break_off",
    "class": "B",
    "fee_drag_pct": 1.042,
    "max_drawdown_pct": 10.65,
    "multiple_vs_btc": 1.0197,
    "trades": 39,
    "vs_yardstick_pts": 1.5,
    "what": "The live system with the alt sizing it used until 6 Oct, kept as the comparison for that change."
   },
   {
    "book": "promotion_minimum",
    "class": "B",
    "fee_drag_pct": 1.042,
    "max_drawdown_pct": 10.65,
    "multiple_vs_btc": 1.0197,
    "trades": 39,
    "vs_yardstick_pts": 1.5,
    "what": "The live system with the position-sizing rule it used until 19 Sep, kept as the comparison for that change."
   },
   {
    "book": "hedge_no_stable_cover",
    "class": "B",
    "fee_drag_pct": 1.042,
    "max_drawdown_pct": 10.65,
    "multiple_vs_btc": 1.0197,
    "trades": 39,
    "vs_yardstick_pts": 1.5,
    "what": "The live system with the hedge rule it used until 8 Oct, kept as the comparison for that change."
   },
   {
    "book": "alt_no_trims",
    "class": "B",
    "fee_drag_pct": 1.175,
    "max_drawdown_pct": 11.0,
    "multiple_vs_btc": 1.0156,
    "trades": 38,
    "vs_yardstick_pts": 1.1,
    "what": "The live system with the alt sleeve it used until 10 Oct, kept as the comparison for that change."
   },
   {
    "book": "stop_always",
    "class": "B",
    "fee_drag_pct": 1.148,
    "max_drawdown_pct": 11.19,
    "multiple_vs_btc": 1.0136,
    "trades": 41,
    "vs_yardstick_pts": 0.89,
    "what": "The live system with the stop rule it used until 1 Oct, kept as the comparison for that change."
   },
   {
    "book": "tranche_entries",
    "class": "B",
    "fee_drag_pct": 0.937,
    "max_drawdown_pct": 10.75,
    "multiple_vs_btc": 1.0056,
    "trades": 38,
    "vs_yardstick_pts": 0.09,
    "what": "The live system, but new entries in daily tranches instead of at once."
   },
   {
    "book": "event_blackout",
    "class": "B",
    "fee_drag_pct": 0.859,
    "max_drawdown_pct": 10.69,
    "multiple_vs_btc": 1.005,
    "trades": 39,
    "vs_yardstick_pts": 0.03,
    "what": "The live system with the event blackout it used until 24 Sep, kept as the comparison for that change."
   },
   {
    "book": "alt_basket_off",
    "class": "B",
    "fee_drag_pct": 0.0,
    "max_drawdown_pct": 4.26,
    "multiple_vs_btc": 0.9701,
    "trades": 0,
    "vs_yardstick_pts": -3.46,
    "what": "The live system with no alt sleeve at all."
   },
   {
    "book": "constant_mix_70_30",
    "class": "A",
    "fee_drag_pct": 0.188,
    "max_drawdown_pct": 3.5,
    "multiple_vs_btc": 1.0386,
    "trades": 8,
    "vs_yardstick_pts": 3.86,
    "what": "Independent rule. A fixed mix rebalanced inside a band; no signal at all."
   },
   {
    "book": "hashdex_momentum",
    "class": "A",
    "fee_drag_pct": 0.669,
    "max_drawdown_pct": 3.68,
    "multiple_vs_btc": 1.0305,
    "trades": 26,
    "vs_yardstick_pts": 3.05,
    "what": "A published mechanical benchmark: the Vinter/Kaiko Hashdex risk-parity-momentum index (top-12 by cap, momentum x equal-risk weights, 30% cap, monthly), with its own 30% BTC floor."
   },
   {
    "book": "ma200_switch",
    "class": "A",
    "fee_drag_pct": 0.0,
    "max_drawdown_pct": 0.0,
    "multiple_vs_btc": 1.0,
    "trades": 0,
    "vs_yardstick_pts": -0.0,
    "what": "Independent rule. Long BTC above the 200-day average, partly out below it."
   },
   {
    "book": "liq_reversal",
    "class": "A",
    "fee_drag_pct": 5.049,
    "max_drawdown_pct": 12.72,
    "multiple_vs_btc": 0.9427,
    "trades": 25,
    "vs_yardstick_pts": -5.73,
    "what": "Independent rule. Buys after long-liquidation flushes, expecting the bounce; decides hourly."
   },
   {
    "book": "ichimoku_switch",
    "class": "A",
    "fee_drag_pct": 0.652,
    "max_drawdown_pct": 12.92,
    "multiple_vs_btc": 0.9189,
    "trades": 3,
    "vs_yardstick_pts": -8.11,
    "what": "Independent rule. Long or flat on a daily Ichimoku composite."
   },
   {
    "book": "gex_regime",
    "class": "A",
    "fee_drag_pct": 4.479,
    "max_drawdown_pct": 8.8,
    "multiple_vs_btc": 0.912,
    "trades": 20,
    "vs_yardstick_pts": -8.8,
    "what": "Independent rule. Long or flat on the options dealers' gamma regime; decides hourly."
   }
  ],
  "live_book_multiple": 1.0047,
  "method": "Paper books replayed every night through the live engine from go-live, on the data the live system had at each decision and at the exchange's real fee rate. Two kinds: independent rules judged against holding Bitcoin (1.000), and the live system with exactly one change judged against the live book. No book is promoted automatically; the owner reviews them.",
  "since": "2026-09-02"
 },
 "today": {
  "best_shadow_book": {
   "book": "constant_mix_70_30",
   "multiple_vs_btc": 1.0386
  },
  "latest_verdicts": [
   {
    "date": "2026-10-29",
    "id": "K0455",
    "what": "batch 59 verdict: crisis flash mode NONE (no setting passes)"
   },
   {
    "date": "2026-10-26",
    "id": "K0444",
    "what": "S134 step 0 result: B0145 armed hedge short; replay cover_mult = 1.0 size + daily resize; at 0.9 the stable setting's holdout is negative"
   },
   {
    "date": "2026-10-17",
    "id": "K0403",
    "what": "b55 verdict doc: B0057 failed-entry release NO EFFECT"
   },
   {
    "date": "2026-10-17",
    "id": "K0402",
    "what": "b55 verdict computation: NO EFFECT (1/3 cells)"
   },
   {
    "date": "2026-10-17",
    "id": "K0401",
    "what": "b55 verdict computation script"
   }
  ],
  "max_drawdown_vs_btc_pct": 0.04,
  "trials_7d": 6831,
  "verdicts_7d": 1,
  "verdicts_total": 99
 },
 "units": "multiples of holding Bitcoin; counts; dates"
}