PlimsollStrongroom
NetworkHedera testnetAudit topic0.0.10451091Coverage feedLive, over MCP
Demonstration

Each note shows a dated reading from chain. Walk the states to see what each one does.

The market floor

Every note is a room: the plates are the backing read from its vaults, the plane is what it owes. A note trades only while the plates stand above the plane.

PLIM-B

Plimsoll Note Series B

No figure

Attributable backing
Not attested
Outstanding
$10.00

10.00 notes at $1.00, read from the note

UnprovenThe last attestation has expired. An expired attestation is not evidence, so there is no figure.

AttestationExpired

PLIM-A

Plimsoll Note Series A

Negative control

No figure

Attributable backing
Not attested
Outstanding
$1,000,000.00

10,000.00 notes at $100.00, read from the note

UnprovenThe oracle holds no attestation for this note, so there is nothing to read a figure from.

NoAttestation

Before a note can trade

  1. Issuer role grantedSUCCESS
  2. Holder cleared for KYCSUCCESS
  3. Holder cleared for KYC (2)SUCCESS
  4. Notes issuedSUCCESS
  5. Load line set on the deviceSUCCESS
  6. Escrow allowance approvedSUCCESS
  7. Live attestation accepted, 140.00%SUCCESS
  8. Ask placed on the venueready to list, not placedplaceAsk calls LoadLine.requireClear(PLIM-B). It read clear — Covered at 140.00% — while the live attestation accepted at 05:28 UTC was fresh. That attestation expired at 05:33:30 UTC, and an expired attestation is not evidence, so the venue refuses again until the next one.

Every step above is a transaction on Hedera testnet. The last one has not happened, and the reason it has not is the product working: the venue will not book a trade it cannot prove.

Four ways this venue says no

  • coverage_below_floorassetA real position, valued under the line. Carries the figure that found it.
  • no_attributable_positionsassetThe vaults are registered and the holder holds nothing in them. Also a figure: zero, against what is owed.
  • source_unavailableevidenceNo reading yet, stale data, an unresolved vault, sources that disagree. Never a figure.
  • AccountIsBlockedCONTRACT_REVERT_EXECUTEDThe note refusing a blacklisted counterparty, on chain. A compliance denial, not a coverage refusal.

What the venue asks first

  • To a blocked counterpartyfalseEIP-1066 0x10 · AccountIsBlocked 0x796c1f0d
  • To a cleared counterpartytrueEIP-1066 0x01 · no reason code

canTransferByPartition(from, to, partition, 100, '', '') read with --from the token holder — a read, not a trade. The venue never books a match the note would revert, so a refusal costs the taker nothing.