The first fund prospectus that is a cage instead of a promise: a mandate in plain English, compiled into limits the agent cannot break.

Every fund prospectus in history is a promise. The manager says what they will and will not do, the investor signs, and the only enforcement is a lawsuit after the money is gone. Now the manager is software, and software will do exactly what it can do, not what it was told. Handing an agent a treasury with a policy document attached is handing it a treasury.

Write the mandate in English. Maximum trade size, hourly limits, reserve floor, drawdown stop, trading window, slippage, price ceilings, approved counterparties. It compiles into a cage on chain. The agent proposes trades; the cage executes or refuses each one, and every refusal is written to the record with the clause that refused it.

The refusal log is the product. Investors watch a strategy operate and see, in plain words, what it was stopped from doing. Revocation settles faster than the transaction it blocks.

A constraint is only real if revocation and refusal settle faster than the transaction they block. Arc's deterministic sub-second finality means a revoked mandate is revoked before the agent's next proposal lands. Everywhere else, stopping an agent is a race against a pending transaction.

• Management fee. An annual basis-point fee on treasury under mandate, streamed to the platform per second.
• Performance fee. A share of gains above the mandate's benchmark, computed on chain from the record.
• Compiler licences. Funds and family offices running their own agents licence the mandate compiler and the cage.

Systematic and algorithmic strategies manage trillions; the first agent-run funds are being raised now, and every one of them will be asked the same question by every allocator: what stops it. Charter is the answer that can be read on chain.

• Charter, live on Arc mainnet
• Charter.sol: seven tests, the refusal record
• Deploy your instrument from your wallet

1. Live nowThe compiler, the cage contract, the refusal record, deploy from a wallet, a demo agent.
2. 90 daysVenue adapters so a caged agent can trade on real Arc venues; fee streaming; mandate templates for common strategies.
3. 6 monthsMulti-instrument dashboards for allocators; benchmark-linked performance fees; a marketplace of mandates.
4. 12 monthsCharter as the standard cage for agent-run funds on Arc, licensed to managers and offices.

A developer grant of USD 60,000 over six months funds venue adapters, fee streaming and three pilot funds under mandate. Draft figure.

Built by one person, in the open, on a foundation that puts a new product on Arc in under an hour. Name your price, or free.

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