Risks & limitations

Perigee publishes measurements. The measurements are only as good as their inputs, and a score is a statement about the past. This page lists the known limitations.

Oracle dependency

• Every score is relative to the Chainlink mid. If the feed is wrong, delayed or manipulated, every score for that Stock Token is wrong in the same direction.
• Stale feed rounds exclude trades rather than scoring them against an old mid, which reduces sample size during feed outages.
• The feed's own update threshold means the mid can lag fast moves; small scores are within the feed's resolution.

Single sequencer

• Robinhood Chain uses the Arbitrum Orbit stack with a single sequencer. The sequencer orders transactions, which affects which oracle round a trade sees.
• Sequencer downtime delays reports and disputes. The 24h window is measured in block time; an extended outage can shorten the practical time available to challenge.
• Forced inclusion through the parent chain is available but slower.

Reporter collusion

• The dispute mechanism assumes at least one honest party recomputes each report within 24 hours.
• If all reporters and all potential challengers collude or are absent, an incorrect report can become final.
• Until governance is live, dispute resolution relies on a published multisig. This is a trust assumption.

Market-closed marks

• When the underlying market is closed, the mid is the last available mark and does not reflect current information.
• Closed-state scores measure distance from a stale reference; they are published separately and should not be compared with Open scores.
• Integrators should pass the correct market state and treat Closed scores with more caution.

Other limitations

• Past, not future. A score describes the previous reporting day. It is not a quote.
• Thin cells. Large size buckets have few trades. The minimum sample size limits, but does not remove, noise.
• Gaming. A venue can attempt to improve its score with self-trades. Heuristics exclude known patterns; certified venues additionally risk their bond.
• Smart-contract risk. Contracts will be audited before deployment. Audits reduce, not remove, risk.
• Stock Token issuer risk. Stock Tokens are issued by third parties. Perigee measures trading in them and makes no statement about the issuer or the backing.