Why a high APR can be a thin market
Reported return is only useful beside venue depth and observation freshness.
Read the protocol ↗SETTING THE ALLOCATION GRID
RH / MMXXVIShort working notes on market evidence, route design and the discipline of signing only what can be explained.
Reported return is only useful beside venue depth and observation freshness.
Read the protocol ↗A route is unfinished until the destination, value and calldata can be inspected.
Read the protocol ↗Equities, ETFs, stables and crypto require different liquidity expectations.
Read the protocol ↗Missing audits, unpublished hooks and stale observations remain visible absences.
Read the protocol ↗