0.91days of PURR volume to unwind the crowd99%of the XMR book on one side, across 31 vaults$490.5Munder one key with no guardian — 13 of the 127 vaults whose control we have read$2.07Bwhose control we have never read, across 2,813 vaults$1.52Bsitting in vaults and not lent out$5.83Bunder 2,940 vaults we read1,870agent-managed, of 2,940 tracked193agent vaults scored, 10% of them479operators identified behind them25networks read, from Ethereum to Cardano3,779,855deposits and withdrawals read from chain102changes recorded in the last day528,526ERC-8004 agent registrations read+9.22 up, ERC-8004 agent registrations read/ 30 days331,494distinct owners behind those registrations189,204registrations carrying a readable card, 36%4,120,295agent tasks settled on the Olas rail−0.4 down, agent tasks settled on the Olas rail/ 30 days71suppliers delivering that work404,451agent-to-agent jobs read on Base+0.42 up, agent-to-agent jobs read on Base/ 30 days$1.0Msettled between agents, all time1,168suppliers listed on the ACP rail191agents live on Cardano74Cardano agents deregistered, 28% of all ever minted28,078open escrows between Cardano agents0.91days of PURR volume to unwind the crowd99%of the XMR book on one side, across 31 vaults$490.5Munder one key with no guardian — 13 of the 127 vaults whose control we have read$2.07Bwhose control we have never read, across 2,813 vaults$1.52Bsitting in vaults and not lent out$5.83Bunder 2,940 vaults we read1,870agent-managed, of 2,940 tracked193agent vaults scored, 10% of them479operators identified behind them25networks read, from Ethereum to Cardano3,779,855deposits and withdrawals read from chain102changes recorded in the last day528,526ERC-8004 agent registrations read+9.22 up, ERC-8004 agent registrations read/ 30 days331,494distinct owners behind those registrations189,204registrations carrying a readable card, 36%4,120,295agent tasks settled on the Olas rail−0.4 down, agent tasks settled on the Olas rail/ 30 days71suppliers delivering that work404,451agent-to-agent jobs read on Base+0.42 up, agent-to-agent jobs read on Base/ 30 days$1.0Msettled between agents, all time1,168suppliers listed on the ACP rail191agents live on Cardano74Cardano agents deregistered, 28% of all ever minted28,078open escrows between Cardano agents
This site publishes several counts of what looks like the same thing. Each is correct and each answers a different question, and a reader comparing two pages cannot tell a legitimate narrowing from a disagreement. So the narrowing is published: what was discovered, what survives each stage, and what drops out at every one.
The stage keys are the population names. Every figure on this site carries an evidence block naming the population it was computed over, and that name is a key below. A total and the population it is a total of can be joined without asking us.
Vaults
Which vaults is a capital figure a total of?
Discovered3,059
Open2,940−119
dropped here: recorded as shut, and kept rather than deleted
Valued2,591−349
dropped here: no price we trust for the underlying, so the size is refused rather than guessed
Software-managed1,870−721
dropped here: no evidence that software decides, which is not the same as evidence that a person does
1,870 of 3,059 vaults (61.1%) reach software-managed. The other 1,189 drop out at a named stage above, never silently.
Exit capacity
Which vaults does the withdrawable figure cover?
Open lending vaults395
Supply and borrow both read395
dropped here: one side of the register could not be read, so the vault sits in none of the three exit states
Every one of the 395 lending vaults discovered survives to supply and borrow both read.
Real-world exposure
Which vaults is the real-world figure a total of?
Open vaults2,940
Told us what they hold845−2,095
dropped here: the vault names no underlying asset, so there is nothing to classify
Underlying classified723−122
dropped here: we hold the symbol and could not place it in any class, which is ours rather than theirs
In a real-world class562−161
dropped here: the underlying is ether, bitcoin, a chain token or a staking receipt — crypto, and nobody is uncertain about that
562 of 2,940 vaults (19.1%) reach in a real-world class. The other 2,378 drop out at a named stage above, never silently.
Agent earnings
How much of what agents earn can we follow?
Paid on a rail50,830
Earnings we could price50,759−71
dropped here: paid in something we hold no price for at that moment
Money we can follow18,781−31,978
dropped here: it moved somewhere we do not read — an exchange, an unlinked treasury, a chain outside our perimeter. Ours, not theirs.
18,781 of 50,830 earners (36.9%) reach money we can follow. The other 32,049 drop out at a named stage above, never silently.
Agent work
What is a completion rate on the job book a rate of?
Jobs read404,451
Phase observed254,835−149,616
dropped here: we never saw a phase for it — a hole in our reading of the book rather than a job that did nothing
A recorded outcome201,799−53,036
dropped here: still in request, negotiation or evaluation, which is not yet a result and is never counted as a failure
201,799 of 404,451 jobs (49.9%) reach a recorded outcome. The other 202,652 drop out at a named stage above, never silently.
Who can move the money
Which vaults does a control finding cover?
Open vaults2,940
Control we could read127−2,813
dropped here: the venue publishes no access control, so there are no roles to read — which is most venues, and is our limit rather than a finding about the vault
127 of 2,940 vaults (4.3%) reach control we could read. The other 2,813 drop out at a named stage above, never silently.
A small share by count and 65% by capital. The venues that publish access control are the large ones, so the count understates the reach and the capital overstates it. Neither figure alone is the answer.
Depositor returns
Whose return is the up-or-down split a split of?
Positions read5,348
Return reconstructable2,829−2,519
dropped here: we hold no value on both sides of their entry, so there is nothing to measure a return from
2,829 of 5,348 positions (52.9%) reach return reconstructable. The other 2,519 drop out at a named stage above, never silently.
Who runs it
Which operators is a firm figure a total of?
Operators we hold479
Running an open vault421−58
dropped here: every vault we linked them to is shut, or none was ever linked
421 of 479 operators (87.9%) reach running an open vault. The other 58 drop out at a named stage above, never silently.
Agent identities
How many registrations are economically usable?
Registered528,526
Card read and parsed189,204−339,322
dropped here: the card is a pointer we have not fetched, or it could not be read at all
Declares a service endpoint5,481−183,723
dropped here: the card names no endpoint, so there is nothing to ask
That endpoint answers3,588−1,893
dropped here: the host refuses, has gone, or would not answer in time
3,588 of 528,526 registrations (0.7%) reach that endpoint answers. The other 524,938 drop out at a named stage above, never silently.
Every population name in use
A figure’s evidence block names one of these. The ones marked as decomposed narrow above; the rest are named and measured but not yet broken into stages, which is a smaller claim rather than a missing one.
vaults_discovered
Every vault this platform has ever found, open or shut. The widest count there is.
vaults_open
Discovered vaults not recorded as shut. Closed ones are kept rather than deleted, which is what makes survivorship measurable.
vaults_valued
Open vaults we can put a size on, which is the denominator behind every capital total here. A vault whose underlying we cannot price is published unvalued rather than estimated; one we read as holding nothing is valued at zero, which is a reading rather than a gap.
vaults_agent_managed
Open vaults with evidence that software decides. Absence of evidence is not evidence that a person decides.
lending_open
Open vaults on a lending venue, whether or not their register could be read.
open_lending_vaults_with_supply_and_borrow_read
Lending vaults where both sides of the register were read, so the vault can be placed in exactly one exit state.
open_vaults_with_a_classified_underlying
Open vaults whose underlying we could place in a class at all. A symbol we hold and cannot classify is our gap rather than theirs.
What a narrowing is not
A stage that loses rows is not a stage that failed. Refusing to value a vault whose underlying we cannot price is the behaviour this platform is built around, and the count of refusals is a measure of honesty rather than of coverage. What would be a failure is a figure published without saying which stage it was computed at, which is the thing these chains exist to make impossible.
How each figure resolves to the read behind it: evidence. Where our figures disagree with somebody else’s: what others report. What we read at all: the perimeter.
registrations
Every ERC-8004 identity registration read from a chain, whatever it points at.
registrations_named
Registrations whose card we fetched and parsed. A card that is only a pointer we have not followed is a gap in our reading rather than a defect in the registration.
registrations_with_endpoint
Registrations whose card names a service endpoint, so there is something to ask.
registrations_endpoint_answering
Registrations whose declared endpoint answered the last time it was asked.
rail_earners
Addresses paid on an agent-commerce rail, which is the population every revenue figure is a total of.
rail_earners_priced
Earners whose payment we could put a dollar figure on at the moment it was made. One paid in an asset we hold no price for is counted and not valued.
rail_earners_followed
Earners whose money we can follow to any outcome at all. The rest is a statement about our linkage rather than about the agents: revenue moved to an exchange, to an unlinked treasury, or onto a chain we do not read looks identical from here to revenue that never moved.
x402_priced_resourcesnamed only
Services listed in the x402 catalogue that publish a price.
depositor_positions_read
Depositor positions read from the venues, one row per address per vault, latest reading only. The widest depositor count there is.
reconstructable_depositor_positions
Depositor positions whose entry and value history we hold on both sides of the entry, so a return means something. A position we can see but cannot date is counted and not measured: any return for it would be a guess about when the money arrived.
vaults_with_flow_historynamed only
Vaults whose deposits and withdrawals we hold over the window, so growth can be split from performance.
gmx_open_positionsnamed only
Every open position on GMX across both chains, counted rather than sampled.
ostium_open_positionsnamed only
Open positions on Ostium in a page the venue serves, which is a floor rather than a total.
avantis_listed_pairsnamed only
Pairs Avantis lists, with the venue’s own open interest against each.
operators_with_a_vault
Firms and leaders running at least one open vault we read. An operator nobody has linked to a vault is not here, which is a limit of our merging rather than a fact about the market.
positions_read_on_perp_venuesnamed only
Open positions we read from the perpetual venues themselves, per vault and per instrument. A venue we do not read carries positions that are absent here rather than zero.
instruments_snapshottednamed only
Instruments whose mark, mid and impact prices we record on a schedule. An instrument nobody in our cohort holds is not snapshotted, so its absence says nothing about the market.
open_vaults_with_underlying_read
Open vaults whose own contract told us what they are denominated in. A vault that does not answer is unread rather than unbacked.
open_vaults_with_access_control_read
Open vaults whose venue publishes access control and whose roles we could read. Most venues publish none, so this is a small share by count and a large one by capital: the venues that publish it are the large ones, and neither figure alone is the answer.
operators_all
Every operator record we hold, including those whose vaults have all closed. Kept rather than deleted, which is what makes a firm’s whole book readable.
open_vaults_in_a_real_world_class
Open vaults whose underlying is a named real-world instrument or a stablecoin whose issuer invests reserves. Crypto is classified and deliberately outside this: nobody is uncertain whether ether is a Treasury bill.
vaults_askable_on_chainnamed only
Open vaults holding a contract we can ask directly how much it holds, so the size is read from the chain rather than taken from a venue. A vault on an order book has no such contract and is absent here rather than unproven; the confirmed share is published against the askable ones, never against every vault.
index_universenamed only
Vaults eligible to be index constituents at a rebalance: measurable in that period and above the size floor. Chosen using only what was known at the time, so a vault that later died keeps its loss and one that later grew does not appear early.
preregistered_declarationsnamed only
Strategies declared to us before the result was known, including the ones that went on to fail. Small and deliberately self-selected — the value of pre-registration is that it cannot be chosen after the fact, not that it is representative of anything.
acp_jobs_read
Jobs on the Virtuals ACP v2 contract we read end to end. A job still in negotiation has not failed and one whose phase we never saw is our gap rather than an outcome, so neither is counted against a completion rate.
acp_jobs_with_a_phase
ACP jobs we saw a phase for. A job read from the contract whose phase we never observed is a hole in our reading of the book, not a job that did nothing.
acp_jobs_that_ended
ACP jobs that reached an outcome — delivered, refused or expired. This, and not the whole book, is the denominator under every completion rate we publish: a job still in request, negotiation or evaluation has not failed and counting it as a failure would defame the provider.
x402_payersnamed only
Addresses that paid on x402 over the blocks we hold, separated by observable behaviour rather than by any label they carry. No class claims agency: paying every hour of the day is a fact about a schedule, not about who wrote it.
scheduled_readersnamed only
The readers this platform runs on a schedule, which is the population behind every freshness claim here. It measures OUR jobs and not the sources they read: a reader that ran ten minutes ago may still have been served stale data by a venue.
commerce_rails_readnamed only
Agent-commerce rails we read end to end. A rail absent here is one we do not read, which is different from a rail with no activity.