A Wall Street manager is paid a percentage of your money whether that
money grew or shrank. Where a performance fee exists it sits above a
high water mark, and the documented way around a high water mark is to
close the fund and open another one. The promises in a prospectus are
enforced the same way: by a person reading a filing, afterwards.
Two things change here, and the same feeds decide both.
Paid only for being right
An author is paid only when the allocation they published stands above
the mark it held the last time that follower paid them. Every follower
carries their own mark, stamped on the day they signed, so nobody pays
for a rise that happened before they arrived and nobody pays twice for
the same rise. A manager who is wrong collects nothing for as long as
they are wrong, while the worker who did real work is still paid in
full.
The record is computed from the author's own weights and the chain's
official feeds, and it is brought current under the old weights before
any revision takes effect. It cannot be restated, redated, or dressed
up for a reporting day.
The covenant
On the day they publish, an author writes their own limits into the
policy: a ceiling on any single holding, a floor under cash. From then
on the chain refuses any revision that would break them. Not later, not
ever, not to save themselves. A follower reads the promise once and is
safe from every revision that follows.
On the live chain
A manager published a policy swearing no holding above forty percent
and cash never under ten. A wallet followed it, keeping its own assets.
Then real work happened: the follower was carried from 10864 basis
points of drift to 4208 through the real pools, and the worker was paid
0.133120 for it.
The manager's balance did not move by a single unit. No royalty event
was emitted at all, because the policy was standing exactly where the
follower had joined it.
And when that same manager tried to put ninety percent into one name,
the chain refused, and the refusal is on chain forever.
Unchanged
Your assets never leave your wallet. The contract holds nothing.
Every fill is judged against the official feed, and a worker's pay
is docked dollar for dollar by whatever the fill cost the wallet.
No owner, no admin, no upgrade path. Zero fees.
Live
Merit edition 0x8AD0afa388EBd55Fb02e2F8d375dD63DB17785e3
Chain Hood Chain (id 4663)
Assets USDG, twenty six stocks and ETFs, and cbBTC
Web https://aumzero.com
Eight unit tests, two against the live chain.