The whole story, one step at a time
1. It follows two traders, not a crowd
We picked the two wallets it mirrors from our own skill leaderboard — the same
measured, classified roster the rest of this site reports on. On this page they
are only ever leader-a and leader-b, which are literally their labels in
the config. We never publish their addresses. Flag a skilled wallet in public
and the whole market front-runs them, and watching them watch us would leak our
own positions too.
One signal here is one wallet's actions. There is no quorum to wait for and no
crowd to count. That is exactly why every remaining check works differently
than on the cluster page.
2. It only moves when the leader really means it
Each leader has a conviction bar (min_leader_notional_usdc). The agent
copies a bet only once that leader's own position on it reaches the bar. The
bar sits per leader, against that leader's own history, because the same
dollar figure does not mean the same thing twice.
Measured over 90 days: leader-a's positions have a median of $285 and a
90th percentile of $1,729. A $500 bar selects their most convinced third,
and our $5 copy is about 1% of what they stake. leader-b's median is $5. At
a $500 bar this rail would fire roughly once a quarter while reading as an armed
leader, so their bar is $100. A knob that looks armed and never fires is
worse than no knob.
The bar fires once per fresh bet, at the moment it is first crossed.
Scale-ins never re-trigger it. A bet becomes fresh again only after the leader
closes it in full — or flips sides.
3. It counts what the leader holds, not what they clicked
On a two-outcome market, buying one side and selling the other are the same
opinion. So the agent measures conviction in what the leader ends up holding,
at the price of that outcome — not in the words on the trade ticket.
The difference is not small. Selling 500 shares of a nearly-worthless outcome
at half a cent collects about $2 of cash. It is also roughly $498 of
conviction on the other outcome, and the agent now counts it that way. The entry
price follows the held outcome too. Before we fixed that, a position a leader
had built by selling could show a price drift of thousands of percent and get
refused as stale — a bug that rejected exactly the trades it existed to copy.
4. It refuses a leader who trades both sides
The rail most likely to refuse an entry. Before copying, the agent looks at the
leader's own flow on this bet over the last 48 hours and compares buys to
sells (smaller ÷ larger, in dollars). Above 0.5
(max_wallet_two_sided_ratio) it refuses. A wallet trading both sides of the
same bet is making a market, not expressing a view — and every flip a copier
follows is a full, paid round trip. On the cluster agent, one live flip-follow
cost $0.25 on a $5 position — about 5% — to end up short what it had just
been long.
One honest subtlety: an empty window is "nothing to weigh", not a clean
score of zero. When the 48 hours contain no flow to measure, the rail stands
down and says it was unmeasured instead of pretending the leader passed. We
added the distinction after real skips showed most early readings were exactly
this: zeros over empty windows, dressed up as evidence.
5. The usual safety checks
The rest of the entry gate is the same family of questions the cluster agent
asks, in the same spirit:
- "Is there anyone here to trade with?" — under $1,000 of liquidity
(
min_liquidity_usdc), skip.
- "Is this market about to end?" — under 1 hour to resolution
(
min_seconds_to_resolution), skip.
- "Has the price already run past the leader?" — skip if the ask has moved
more than 3% past the leader's effective entry (
staleness_pct) and
more than two price steps (staleness_min_ticks). A move the market's
own grid cannot subdivide is noise, not information.
- "Is a share too expensive?" — never pay more than $0.95
(
max_entry_price). At the top of the price range a copy risks $5 to win
cents, and one bad resolution erases hundreds of wins.
- "Am I already copying this leader enough?" — at most 2 open copies per
leader (
max_open_copies_per_leader), so one leader on a spree cannot eat
the whole budget. This rail has no cluster equivalent.
- "Do I have room, and a floor?" — at most $20 open in total
(
exposure_cap_usdc), never spending the account below $5
(working_capital_floor_usdc).
6. What it deliberately does not check
Three rails from the cluster agent are missing here. Honesty about that
matters more than symmetry:
- No fee rail. The cluster agent's most expensive lesson — the exchange's
per-share fee was 77% of its early losses — produced a fee ceiling there
that works out to a $0.60 minimum price. This agent has no such rail. A 7¢
outcome its sibling would refuse sails through. We are betting that a
leader's own conviction already filters the cheap lottery tickets. That bet
is not yet proven.
- No reversal window. The cluster agent refuses a crowd whose members just
switched sides. Here the two-sided flow rail plays that role for a single
wallet.
- No gas check at entry. The venue's relayer pays for settlement, and the
trading account structurally holds no gas. An entry-path gas rail refused
every entry before we removed it. Gas is a payout question: the weekly
sweep keeps 2 POL back (
gas_reserve_pol).
7. A ticket that cannot exist refuses to boot
The order is the same shape as the cluster agent's: fill-or-kill, at a limit
of the current ask plus 1% of room (slippage_pct) but never less than
two price steps (slippage_min_ticks), snapped onto the market's own price
grid. It fills completely or dies. A killed order gets no retry.
The venue's 5-share minimum works differently — at boot, not per order. The
service works out the worst limit price its own rails allow (with a $0.95
ceiling and two steps of room, that is $0.97) and refuses to start if the ticket
cannot buy five shares there. Under $4.85 a bet, the agent will not boot. A
config that cannot trade should fail once, loudly, at startup — not once per
signal forever.
8. It holds through trims, and leaves at half
Exits are where this agent most differs from its sibling. The cluster agent leaves
at the first sale by anyone in the crowd. This one is harder to shake out on
purpose:
- A leader trimming their position is information, not an exit. The agent
records it and holds.
- Once the leader's cumulative selling reaches 50% of their peak position
(
trim_close_fraction), the agent closes its whole leg at once. Measured
against the peak, not per fill — a leader bleeding out 20% at a time would
never trip a per-fill rule. And always the whole leg, never a slice: a
proportional sliver can drop under the venue's 5-share minimum and become
unsellable.
- A leader going to zero, or flipping to the other side, closes the leg
immediately. A flip also starts a fresh bet — the agent can close and re-enter
on the other side in the same breath, exactly as the leader did.
- Remove or disable a leader in the config and the agent closes their legs within
a minute. When a market resolves, the agent redeems it.
The shape of this is hard-wired. The trim threshold is the one number in it you
can turn — the next step adds two more, and they do not watch the leader at
all.
9. And a stop-loss and a take-profit, on its own numbers
Step 8 is entirely about the leader. This is not. About once a minute the agent
prices a full exit of every open leg — what the best bid would pay, minus the
exit fee, against what the leg cost including the fee it paid going in — and
closes it if that reading is down more than auto_close_loss_pct or up more
than auto_close_profit_pct.
It matters more here than on the sibling agent. This one has no fee ceiling at
entry (step 6), so a cheap outcome the cluster agent would refuse outright can
be copied — and a cheap outcome is exactly where the per-share fee bites
hardest. A rail that measures what would really come back, rather than where the
price is, is the guard that absence leaves room for.
The mechanism is shared code with the cluster agent, so it behaves identically
on both: two consecutive readings past the same line before anything happens; an
unreadable book skips the leg for that minute and forgets the breach it was
holding; the whole leg goes at once, never a slice; and the kill switch does not
gate it, because halting entries must never strand an open position.
Both numbers are read at boot, and 0 — or an absent key, which parses the
same way — stands that side down. Both are absent today. The rail is
deployed on this agent and armed on neither side, so nothing has ever closed
this way, and the values we eventually arm will not be published. A live
threshold is something a reader could trade against while the leg is still
open.
10. A failed exit is queued, not forgotten
An exit order can die just like an entry. Each one gets three attempts,
tracked per position in a durable queue — one stuck leg cannot block the
others — and if the third fails the agent says so loudly instead of going quiet.
A market that resolved but is not redeemed yet sits in the books as unpaid.
The books never count cash they do not have.
11. The kill switch stops buying, never selling
At any moment the kill switch halts new entries while exits, retries and
settlements keep working — so a halt can never strand an open position. It
stops taking risk; it does not abandon it.
12. Its money cannot touch the other agent's
Wallet copy trades a separate account with its own key, its own books, its
own alert channel, its own kill switch and its own service. A wallet-copy bug
can spend only wallet-copy money. Neither agent can even read the other's
records. The one thing they share, on purpose, is the destination of the
weekly profit sweep — named in the config as profit_destination behind a
destination_allowlist, with a $1 dust threshold (dust_threshold_usdc).
We never publish the addresses themselves.
13. Where it is today
The feature went live on 2026-08-11. It spent its first days correctly
copying nothing. With bars this high, silence is the expected state, and the
operations tooling exists to prove that silence is health rather than breakage.
Its first real position followed within days. That is the entire live history so
far. Read every number on this page as a version 1: argued from measurement,
barely exercised in production.