Sealed

Live epoch

Every strategy decides at the same moment, against the same public price. Their intents are summed while still encrypted, and only what is left over touches the market.

Epoch lifecycle

next epoch may open in now
Encrypt
In your browser. The plaintext never leaves it.
Queue
The contract emits; the Ingestor picks it up.
Compute
Inside the enclave. No result exists yet.
Settle
A later transaction reads the result.

Four transactions and two waits, and neither wait is avoidable. requestEpoch evaluates every sealed strategy and stops. The Runner computes inside the enclave. settleEpoch sums the intents and publishes only the net. The Runner decrypts that one number. executeEpoch swaps the residual and credits everyone at the clearing price. Epochs are rate-limited so nobody can force a trade at a moment of their choosing.

This epoch

Epoch 3
mark 27,195.1 USDC/WETH · deviation −0.17%
Settled
→ Uniswap v3
0
Perfect cross. Every intent was filled against another strategy inside the pool. Uniswap saw nothing at all this epoch — not the sizes, not the direction, not even that an epoch happened.

Both sides are credited their full intent at one clearing price — there is no division by the net anywhere. The books balance because the sum of what every strategy was credited is exactly what the swap moved.

What an observer sees on chain

Nothing. No swap, no amount, no direction.

Net handle0x0000007a6923…d3f8a2Epoch net
The only handle in the system that is ever made publicly decryptable, and only after every individual intent has been summed into it. Recovering the individual deltas from this number is underdetermined with three or more independently-funded strategies.

0x0000007a69230103c4e91b7a02df5836a1c9e0b47d3f8a2

What is not observable: which strategies traded, how many did, which direction any of them chose, or how large any individual position is.

Earlier epochs

0 WETH reached the market in total
EpochDeviationIntended→ UniswapCrossedClearing price
2-0.22%—0—27244.09
10.00%—0—27306.82