Where the capital is
Cash, tokenised-equity inventory at its real cost basis, and capital committed inside liquidity bands. Everything here is marked from an observed vault balance, never from a quote.
Allocation
Money already owed to holders is a liability. It is drawn separately because it is not capital the desk may deploy, and a single continuous bar would say the opposite.
Fund summary — not trading yetThe desk has not been connected to a live feed. Nothing has been observed, so nothing is reported here.This panel fills in from the chain the moment the desk starts. No figure on this site is ever estimated or placeheld.
Inventory
Cost basis is tracked per lot. A sale can only be called profitable against what was actually paid for the tokens being sold.
Inventory — not trading yetThe desk has not been connected to a live feed. Nothing has been observed, so nothing is reported here.This panel fills in from the chain the moment the desk starts. No figure on this site is ever estimated or placeheld.
Liquidity bands
Fee income is counted when it is collected, not when it is accrued. An uncollected fee is a mark, and a mark is not profit.
Liquidity positions — not trading yetThe desk has not been connected to a live feed. Nothing has been observed, so nothing is reported here.This panel fills in from the chain the moment the desk starts. No figure on this site is ever estimated or placeheld.