Data
The pool’s “price-to-beat” load (in bps over fair value) across all nine markets, read live from the chain — fair value from the on-chain FairValueOracle, the load stack finished with the parity-locked CvammPricing port. This is the load every Path-B MM must undercut to win a fill. It sits over a transparent σ_ref: the EWMA reference vol the whole surface is priced against.
The five signals
Five lenses on the same risk-transfer market. Signal 1 is live RPC; the four time-series are served by the deployed subgraph via the hosted REST API. They carry real data now and fill in with volume — we render live rows when present, an honest “live · no rows yet” note when empty, never fabricated history.
What it costs, right now, to transfer LP convexity — pool load in bps over fair value, per market.
Rendered live above. Historical day-by-day evolution of this same surface (the alpha time-series) is served by the subgraph via getLoadSurfaceHistory.
The mechanical pool baseline vs the behavioral MM load — the spread MMs win on, and how often they win it.
How the load curves with duration (7d / 30d / 90d) at fixed width — the term structure of the convexity premium.
Realized fills vs latent interest — geometries LPs priced but did not buy. The latent half never touches the chain; it is off-chain engine telemetry by design.
The total convexity the protocol is short (pool + every MM) at what aggregate load, plus Σactive V0 / MaxIL — computed off-chain over the open swap set.
Per-tranche net asset value, day by day — the depositor-risk surface. Distinct from the LP claim: depositor capital is NOT guaranteed (junior is first-loss, senior is systemic-tail exposed).
Structures from day one, dynamics mature with volume. The clearing surface is live over RPC; the four time-series are served live by the deployed subgraph over the public REST API (/data/*). The rich events (SwapPriced, QuoteFilled) have been emitted on-chain since the 2026-06-05 deploy and are indexed now; the surfaces deepen as volume accrues.