1.1
What venues show
Total value locked, 24h volume, fee tier. Numbers about the size of the pool, published by the venue itself.
Fig. 00 — Execution quality, Stock Tokens
perigee
Every fill, measured from the mid.
Around ten venues on Robinhood Chain trade the same Stock Tokens. All of them show TVL; none publish where their trades actually filled. Perigee measures every fill against the oracle mid and publishes the scores on-chain, in a form any contract can read.
Robinhood Chain · $PRGE not live · fig. 00
- measured
- bps vs oracle mid
- reported
- daily Merkle root
- disputable
- 24h, bonded
- read
- bestVenue(), free
Fig. 01 — The problem
Every venue reports its TVL. None report where your trade filled.
1.2
What they don't
Where trades actually filled relative to the reference price — by size, by token, and by whether the underlying market was open.
1.3
Who pays for it
Every trader, vault and liquidator routing blind. The cost is paid in basis points on each fill and never itemised.
fig. 1 — the unmeasured distance between the mid and the fill
Fig. 02 — How it works
Measure → Report → Dispute → Read.
An optimistic reporting loop. Scores are computed off-chain from public data, committed on-chain, and only final after anyone has had a day to check them.
- Step 01
Measure
Every Stock Token swap on every venue is compared to the Chainlink oracle mid at the same block. Recorded: slippage in bps, trade size, market state (open, pre/post, closed, halt).
- Step 02
Report
Once a day, staked reporters post the aggregated scores — per venue × token × size bucket × market state — as a single Merkle root on-chain.
- Step 03
Dispute
A 24-hour window follows. Anyone can recompute the report from public data and challenge it with a bond. A wrong report gets the reporter's stake slashed.
- Step 04
Read
bestVenue(token, size, marketState) returns the best attested venue. Free to call, by any contract: vaults, liquidators, rebalancers, agents.
fig. 2 — the reporting loop, one day per turn
Fig. 03 — Simulator
See where your trade would have filled.
Pick a Stock Token, a size and a market state. Six fictional venues are scored against the mid; the closest is the one bestVenue() would return.
Side
Market state
Simulating anonymously. to personalize the run. Connection is read-only; nothing is ever sent.
| Venue A | 100.0430 | 4.3 bps | 625 | 12h | yes |
|---|---|---|---|---|---|
| Venue B | 100.0530 | 5.3 bps | 130 | 15h | no |
| Venue C | 100.0550 | 5.5 bps | 1,148 | 7h | yes |
| Venue E | 100.0630 | 6.3 bps | 1,353 | 10h | no |
| Venue F | 100.0820 | 8.2 bps | 708 | 3h | no |
| Venue D | 100.0950 | 9.5 bps | 118 | 15h | yes |
Stale (> 48h) scores return scoreBps = 0 and are skipped. * below the 30-trade minimum; not eligible. Certification does not affect ranking.
bestVenue() would return: Venue A — 4 bps
Simulated data for illustration. Live scores publish after the reporter set launches. Venue names are placeholders and do not refer to any real venue.
fig. 3 — venues plotted by distance from the mid
Fig. 04 — For builders
One view call. No keeper, no API key.
Any contract on Robinhood Chain can ask where a given size of a given Stock Token executes best, right now, and act on the answer in the same transaction.
4.1
Vaults & rebalancers
Route each rebalance leg to the venue with the lowest attested cost for that size, and prove it to depositors.
4.2
Liquidators
Size liquidations against real execution depth instead of TVL. Detect closed-market marks before selling into them.
4.3
Agents
Give an AI agent a single, verifiable source for where to trade, with a timestamp it can check for staleness.
enum MarketState { Open, PrePost, Closed, Halt }
interface IPerigee {
function bestVenue(address token, uint256 size, MarketState state)
external
view
returns (address venue, uint16 scoreBps, uint64 reportedAt);
}- venue
- Address of the best attested venue for the token, size bucket and market state.
- scoreBps
- Attested execution cost versus the mid, in bps. A score older than 48h is returned as 0: treat 0 as “no fresh data”.
- reportedAt
- Timestamp of the report the score comes from. See Reading scores.
fig. 4 — bestVenue() interface
Fig. 05 — $PRGE token
$PRGE secures the reports. It is not live.
5.1
Reporter stake
Required to publish daily reports. Slashed when a dispute against the report succeeds.
5.2
Venue bond
Posted by a venue that applies for Perigee-verified certification, alongside a monthly USDG fee.
5.3
Governance
Dispute window length, size buckets, slashing parameters and the certified-venue set.
certification feesmonthly, USDG
routing fees0.05% of routed volume
fee collectoron-chain, public
60% · buyback & burn$PRGE
40% · treasurygoverned
Notice
$PRGE is not deployed. There is no contract address. Anything claiming to be $PRGE today is not ours.
Distribution: to be announced. Official announcements are made only on x.com/PerigeeRH.
fig. 5 — value flow: fees → 60% buyback-and-burn / 40% treasury
Fig. 06 — Roadmap
In order. No dates until they are real.
- 01
Indexer & public dashboard — not started
Trade-level measurement across every Stock Token venue; public scores.
- 02
Reporter set & dispute contracts — not started
Staked daily Merkle reports, 24h challenge window, slashing.
- 03
bestVenue read contract — not started
On-chain view of the best attested venue per token, size and market state.
- 04
Venue certification — not started
Bonded, fee-paying venues receive the Perigee-verified badge. Scores stay public.
- 05
Router — not started
Optional contract that routes an order to the best attested venue. 0.05% on routed volume.
- 06
$PRGE — not started
Reporter stake, venue bond, governance. Not deployed.
fig. 6 — phases, sequential