Charter

MandateNo. 0827In forceSimulated

Since: 16 SEPT 2026
Principal: 0x4d9b…b044
Agent: 0xfd84…2f8f
Cage: 0xba5f…01b5
Treasury: 11,699.37 USDC

What it is: A fund mandate in plain English, compiled into limits the trading agent cannot break.
Who it is for: Anyone who lets software trade for them.
Try it now: Edit the mandate on the left and watch the cage recompile on the right.

Mandate

10 clauses · plain English

Clause 1
Hold only USDC and EURC.
Clause 2
Never commit more than 5% of the treasury to a single trade.
Clause 3
Never commit more than 40% of the treasury within any one hour.
Clause 4
Do not trade between 16:00 and 19:00 UTC.
Clause 5
Only trade with counterparties on the approved list.
Clause 6
Keep at least 2,000 USDC in reserve at all times.
Clause 7
Stop all trading if the treasury falls below 80% of its starting value.
Clause 8
Never pay more than 0.3% slippage.
Clause 9
Never buy EURC above 1.12 USDC.
Clause 10
Act prudently and in the interest of the principal.

Edits compile as you type and bind the simulated agent at once.

Constraint

compiled 10:08:30 UTC · 9 of 10 enforceable

cage0xba5fcfacca9f30b7… · in force§1assetsallow [USDC, EURC]§2trade.max5% of treasury per trade ≤ 584.97 now§3hour.max40% of treasury per 60m 2,144.85 of 4,679.75 used§4windowdeny 16:00-19:00 UTC§5counterpartyallowlist only§6reservemin 2,000 USDC holding 8,853.23§7drawdownhalt below 80% of start at 97.7%§8slippagemax 0.3%§9pricebuy EURC <= 1.12 USDC§10voidnot enforceable; ignored by the cage

USDC: 8,853.23
EURC: 2,623.17
Mark: 1.0850
Value: 11,699.37

Refusals

executed · refused · last 3m ago

10:05:49executedsell 165.41 USDC ← EURC @ 1.0776 · Harbor Liquiditywithin mandate
10:05:24executedsell 98.10 USDC ← EURC @ 1.0885 · Meridian OTCwithin mandate
10:04:37Refusedsell 422.55 USDC ← EURC @ 1.0797 · Kestrel Markets§8 slippage · 0.42% slippage exceeds 0.3%
10:03:12executedsell 501.58 USDC ← EURC @ 1.0871 · Arc FX Deskwithin mandate
10:01:32executedbuy 32.09 USDC → EURC @ 1.0860 · Kestrel Marketswithin mandate
10:01:06executedbuy 65.01 USDC → EURC @ 1.0836 · Arc FX Deskwithin mandate
10:00:45executedbuy 82.35 USDC → EURC @ 1.0859 · Harbor Liquiditywithin mandate
10:00:42executedbuy 482.87 USDC → EURC @ 1.0821 · Kestrel Marketswithin mandate
10:00:20Refusedsell 269.64 USDC ← EURC @ 1.0804 · 0x9c…44e1§5 counterparty · 0x9c…44e1 is not on the approved list
09:58:41executedbuy 100.84 USDC → EURC @ 1.0827 · Kestrel Marketswithin mandate
09:54:43executedsell 221.64 USDC ← EURC @ 1.0876 · Harbor Liquiditywithin mandate
09:52:23Refusedbuy 125.96 USDC → EURC @ 1.0837 · Solace Bridge§5 counterparty · Solace Bridge is not on the approved list
09:51:15executedbuy 123.22 USDC → EURC @ 1.0853 · Kestrel Marketswithin mandate
09:46:01executedbuy 178.71 USDC → EURC @ 1.0802 · Arc FX Deskwithin mandate
09:44:56executedbuy 93.03 USDC → EURC @ 1.0893 · Basalt Poolwithin mandate
09:44:35Refusedsell 93.56 USDC ← EURC @ 1.0772 · Basalt Pool§8 slippage · 0.43% slippage exceeds 0.3%

Revocation is simulated here and final on chain.

Mandate

10 clauses · plain English

Clause 1
Hold only USDC and EURC.
Clause 2
Never commit more than 5% of the treasury to a single trade.
Clause 3
Never commit more than 40% of the treasury within any one hour.
Clause 4
Do not trade between 16:00 and 19:00 UTC.
Clause 5
Only trade with counterparties on the approved list.
Clause 6
Keep at least 2,000 USDC in reserve at all times.
Clause 7
Stop all trading if the treasury falls below 80% of its starting value.
Clause 8
Never pay more than 0.3% slippage.
Clause 9
Never buy EURC above 1.12 USDC.
Clause 10
Act prudently and in the interest of the principal.

Edits compile as you type and bind the simulated agent at once.

Constraint

compiled 10:08:30 UTC · 9 of 10 enforceable

cage0xba5fcfacca9f30b7… · in force§1assetsallow [USDC, EURC]§2trade.max5% of treasury per trade ≤ 584.97 now§3hour.max40% of treasury per 60m 2,144.85 of 4,679.75 used§4windowdeny 16:00-19:00 UTC§5counterpartyallowlist only§6reservemin 2,000 USDC holding 8,853.23§7drawdownhalt below 80% of start at 97.7%§8slippagemax 0.3%§9pricebuy EURC <= 1.12 USDC§10voidnot enforceable; ignored by the cage

USDC: 8,853.23
EURC: 2,623.17
Mark: 1.0850
Value: 11,699.37

Revocation is simulated here and final on chain.

Refusals

executed · refused · last 3m ago

10:05:49executedsell 165.41 USDC ← EURC @ 1.0776 · Harbor Liquiditywithin mandate
10:05:24executedsell 98.10 USDC ← EURC @ 1.0885 · Meridian OTCwithin mandate
10:04:37Refusedsell 422.55 USDC ← EURC @ 1.0797 · Kestrel Markets§8 slippage · 0.42% slippage exceeds 0.3%
10:03:12executedsell 501.58 USDC ← EURC @ 1.0871 · Arc FX Deskwithin mandate
10:01:32executedbuy 32.09 USDC → EURC @ 1.0860 · Kestrel Marketswithin mandate
10:01:06executedbuy 65.01 USDC → EURC @ 1.0836 · Arc FX Deskwithin mandate
10:00:45executedbuy 82.35 USDC → EURC @ 1.0859 · Harbor Liquiditywithin mandate
10:00:42executedbuy 482.87 USDC → EURC @ 1.0821 · Kestrel Marketswithin mandate
10:00:20Refusedsell 269.64 USDC ← EURC @ 1.0804 · 0x9c…44e1§5 counterparty · 0x9c…44e1 is not on the approved list
09:58:41executedbuy 100.84 USDC → EURC @ 1.0827 · Kestrel Marketswithin mandate
09:54:43executedsell 221.64 USDC ← EURC @ 1.0876 · Harbor Liquiditywithin mandate
09:52:23Refusedbuy 125.96 USDC → EURC @ 1.0837 · Solace Bridge§5 counterparty · Solace Bridge is not on the approved list
09:51:15executedbuy 123.22 USDC → EURC @ 1.0853 · Kestrel Marketswithin mandate
09:46:01executedbuy 178.71 USDC → EURC @ 1.0802 · Arc FX Deskwithin mandate
09:44:56executedbuy 93.03 USDC → EURC @ 1.0893 · Basalt Poolwithin mandate
09:44:35Refusedsell 93.56 USDC ← EURC @ 1.0772 · Basalt Pool§8 slippage · 0.43% slippage exceeds 0.3%

The mandate

Plain English, one clause per line, written by the principal.

The cage

Each clause compiles to one constraint or is marked void. The contract holds the hash.

The record

Every refusal is on chain with the clause that refused it. Nothing reverts, so nothing is missing.

Why Arc

The cage is an escrow whose release conditions are the compiled mandate. A refusal is only real if it is final before the trade it blocks can land, and a revocation is only real if it is final before the next trade is attempted. Arc settles both deterministically in under a second. Anywhere else, stopping an agent is a race against a pending transaction.

The primitive, the network, and what is simulated