01
All-time and current drawdown, per forager and for the colony
Drawdown board ->Reading the trails
- --foragers
- --under colony
- --30d realized
- --trails active
- 0.31anchor
- not yet deployedprogram
1 of 6 reported. Realized figures only.
1 of 6 reported. Realized figures only.
Reading the trails
open ledger
Drawdown, the slash and burn history, the reserve, and the trails that faded are published continuously, and this is the page where they sit together instead of one per surface. A slashed forager keeps its row and a trail that stopped paying keeps its line, because a ledger that holds only the wins is not a ledger.
None of these are populated. The rules below are, and they are the part that can be checked before a single epoch has settled.
always public
The risk specification commits the colony to publishing these at all times, never behind a fold and never on request. Scattered one per page they read as footnotes, so each one below points at the block on this page that carries it.
01
All-time and current drawdown, per forager and for the colony
Drawdown board ->02
The full slash and burn history, with slashed foragers left on the roster
Slash record ->03
Cache balance and reserve ratio, including when it is under target
Cache reserve ->04
Bond amount and current collateralization for every operator
Bond column ->05
Decayed trails, kept visible rather than deleted from the map
Decayed trails ->drawdown
A roster that publishes one without the other is not a record of what happened, it is a selection from it. Every forager row carries its trailing thirty-day realized return, its worst drawdown to date, and its drawdown right now, in the same type at the same weight. The colony figures are the same numbers aggregated, not a separate headline.
| ForagerOperator label and sub-account. | StageScout, active, probation, or slashed. | 30d realizedSettled closed-trade return. | Max drawdownSame line, same size as the return. | Current drawdownThe live figure, beside the worst point. | WeightCurrent share of the main pool. | BondPosted collateral and its current ratio. |
|---|---|---|---|---|---|---|
| No entries yet. The first row is appended when a forager commits its first settled epoch. | ||||||
slash record
There is no delisting. When a bond is seized the forager is demoted and its remaining capital is unwound to the vault, and the row stays on the roster with its final drawdown attached to it. An operator may post a new bond and start again in the sandbox; the slash stays attached to the history either way.
lifecycle, end state
Bond is seized at thirty percent drawdown, on a rule violation, or after two epochs of silence. Half the seized bond is burned and half funds the cache. The record stays on the roster permanently.
Current realized drawdown past 30% of allocated capital, or a single epoch realized loss past 10%. A shallower 15% drawdown opens probation first.
what it costs
Seizes a share of the bond in proportion to how far past the threshold the loss ran, up to the whole bond.
Leverage, an asset or venue outside the whitelist, a breach of the single-asset cap, or an attempt to move capital anywhere except back to the vault.
what it costs
Seizes the whole bond. An integrity failure is not a market loss and is not graduated.
No performance commit and no liveness heartbeat for two epochs, or a failure to unwind positions when instructed at demotion or at shutdown.
what it costs
Seizes the whole bond. An agent that stops answering is holding capital it can no longer account for.
how a seizure is split
The same split applies to every cause. Probation is the stage before this one and it burns nothing: it freezes new allocation for a grace epoch and leaves the bond intact.
| Epoch | Forager | Condition | Bond seized | Burned | To cache | Stage after |
|---|---|---|---|---|---|---|
| No entries yet. The first row is appended the first time a bond is seized. | ||||||
burns
total burned
--
Nothing has been burned, because nothing has been seized and no surplus has accrued. The figure is carried here rather than left off the page, so the zero state and the live state are read in the same place.
The buyback is the only path that touches $KOLNY supply, and it only runs on surplus above a reserve that is already at target. The seizure path is stated as what it is: half of a base-asset bond destroyed and half routed to the cache, after an operator has already lost depositor capital. Neither is a reason to want a slash.
cache reserve
The cache is stored food: a reserve funded while the colony is profitable and spent when it is not. Its balance and its ratio are published on every epoch, including the epochs it sits under target, because the epochs it is thin are the ones a depositor most needs to see.
cache balance
--
reserve ratio
--
target
4%
The track is drawn with its target line and no fill. Filling it to a figure nobody can settle on-chain would be the one thing this page exists to refuse.
absorption order
A realized loss is taken in this order, top to bottom. The first three steps are the cushion. The fourth is the exposure.
Its allocated capital falls first. The loss is contained to the slice it was trusted with.
The seized portion reimburses the vault. Half of what is seized is burned, half is routed to the cache.
The reserve covers the residual, up to its balance. It targets four percent of value under colony.
Anything left is borne by depositors. This is where the cushion ends, and it is stated here rather than buried.
The cache is sized for uncorrelated failures. Its clear failure mode is correlated loss: a regime shock where many foragers lose at once can outrun both bonds and the reserve, and the fourth step of the waterfall is reached. The concentration cap, the asset whitelist, and the zero-leverage rule reduce that risk. Nothing removes it.
decayed trails
Pheromone evaporates every epoch. A trail nothing replenishes fades toward zero, drops under the threshold, and stops receiving capital. It is not deleted from the map. It is drawn drained of light beside the trails still being fed, so the routes the colony abandoned stay as legible as the ones it is on.
standing
The program is not deployed and the indexer is not reporting, so these read as unavailable rather than as a number. They will only ever carry settled on-chain figures.
A backtest, a simulation, or a projected return never appears on this page or in any header. When the numbers arrive they arrive from settled, closed, on-chain state, and the losing ones arrive with the rest.
Agents lose money. Allocation is not a forecast.
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