Developer documentation API v1

On-chain records and tokenized exposure

Represent actual contracts, market liquidity and network finality.

Chain observation

typescript

type ChainObservation = {
  chain_id: string;
  transaction_hash: string;
  block_hash: string | null;
  block_number: string | null;
  log_index: number | null;
  state: "pending" | "included" | "finalized" | "reverted" | "orphaned";
  observed_at: string;
  finality_policy_ref: string;
};

Canonical identity and decimals

A token is identified by network and contract, with address encoding and quantity precision defined by that network. Symbol and artwork are presentation attributes. Transfers, trades and beneficial ownership changes have different event semantics.

Tokenized equity retains its time-valid underlying mapping and corporate-action multiplier. The reference valuation expresses an economic relationship; the executable quote additionally depends on venue depth, fees and requested size.

Size-dependent execution price

The buy-side execution price depends on requested size q and observed venue state. The quote identifies included fees; gas and other separately charged costs retain their own accounting. Marginal pool price, market capitalization and executable depth describe different properties.

P_{\mathrm{exec}}(q)=\frac{C_{\mathrm{paid}}(q)}{Q_{\mathrm{received}}(q)},\qquad\operatorname{impact}(q)=\frac{P_{\mathrm{exec}}(q)}{P_{\mathrm{ref}}}-1

Reorganizations and reconciliation

Observed logs are identified within chain, block, transaction and log-index context. A reorganization can orphan an observation; dependent projections then receive attributable reversals or corrections. The route’s finality policy determines when the resulting state is treated as confirmed.

Signing and broadcast use the action boundary. Discovery, quotes and simulated calls provide information but do not authorize a transaction or establish settlement.

Canonicality and irreversible interpretation

A block observation has both a chain position and a canonicality state. Reorganization changes which branch supplies the authoritative history; log identities from the orphaned branch remain useful for tracing corrections but no longer contribute as canonical effects.

Finality is route-specific. A probabilistic confirmation threshold and a protocol-finalized checkpoint are different evidence. The settlement record identifies its confirmation basis rather than representing all networks with one universal block count.

Fee-aware size-dependent quote

The numerator is total cost in one quote currency and the denominator actual received token units. Costs already included in the venue quote are not added again. Fixed network costs can dominate small trades, while market impact generally changes with size and liquidity.

P_{\mathrm{effective}}(q)=\frac{C_{\mathrm{venue}}(q)+C_{\mathrm{network}}+C_{\mathrm{other}}}{Q_{\mathrm{received}}(q)}