Docs
Stage 0 specifications. Every invariant here is enforced in code and covered by tests.
MM0_PROTOCOL_SPEC.md
Protocol Specification
The Maker, seven-layer stack, control flow, mandate, objective function, 27 invariants, governance, receipts, economics.
MM0_RISK_MODEL.md
Risk Model
Volatility and regimes, inventory controller, market-making loss limits, circuit breakers, degradation policy.
MM0_THREAT_MODEL.md
Threat Model
Assets, trust boundaries, 20 threats mapped to controls and tests, residual risk.
MM0_ACCOUNTING_SPEC.md
Accounting Specification
Unitized NAV, fill inference, the accounting identity, attribution, performance-fee definition.
MM0_VENUE_INTERFACE.md
Venue Interface
Adapter contract, synthetic DLMM reference, Meteora DLMM verification checklist.