Canonical liquidity
What counts as a pool's liquidity, why it is a six-hour average, and why the accounting method is committed before the outcome is known.
Argued in full in the whitepaper at §6.
Everything downstream — the horizon, the threshold, the breach — is measured against one number. Because that number is the basis for slashing, it has to be manipulation-resistant and independently verifiable.
The TWAP#
L̃_P(b) = (1/N) · Σⱼ₌₀…ₙ₋₁ L_P( b − j·δ )Instantaneous liquidity is never used. This defeats the cheapest attack in both directions: a flash deposit that momentarily inflates a pool to invalidate a challenge, and a flash withdrawal that momentarily deflates it to manufacture one. Sustaining a six-hour manipulation is not flash-loan financeable.
accountingId#
What L_P(b) actually reads depends on the venue, so it is registered per pool at attestation time and signed into the payload:
| Venue | Canonical read |
|---|---|
| ERC-4626 vault | totalAssets() |
| Constant-product pool | Derived from reserves and a reference price |
| Lending market | Total supplied minus total borrowed |
Committing it in advance is what stops a pool with several plausible liquidity measures from contesting which one applies once a breach has already happened.
Checkpointing#
A challenge submitted today has to prove a fact about liquidity weeks ago. The EVM cannot read historical state directly, and recent-blockhash mechanisms cover a window far shorter than a ninety-day horizon. So checkpointing is permissionless: anyone may submit (P, b, L̃_P(b)) with a Merkle-Patricia storage proof against a blockhash still available on chain, and the registry verifies it and stores the record permanently.
| Property | Mechanism |
|---|---|
| Anyone can checkpoint | No permissioning — gas is the only barrier |
| Checkpoints are verified | Storage proof against an available blockhash |
| Checkpoints are permanent | Written to registry storage, not derived on read |
| Cleaton self-checkpoints | At attestation time and daily thereafter |
| Challengers may checkpoint | Creating the evidence they later cite |