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A research desk on Solana market structure. No signals, no calls, no prices.

Editorial policy

The rules this desk writes under, stated plainly enough that a reader can hold it to them.

Sourcing

A number appears in a note only under one of three conditions. It is a protocol fact that can be verified against program behaviour or official documentation. It comes from a named public source that the reader can open. Or it is arithmetic constructed for demonstration and labelled as illustrative in the text, immediately before it is used.

There is no fourth category. This desk does not publish survey figures it did not collect, market-share estimates it cannot reproduce, growth percentages without a stated basis, or round numbers that exist to sound authoritative.

What is banned outright

  • Fabricated statistics of any kind, including plausible-looking ones.
  • Review counts, star ratings, aggregate scores and testimonials.
  • Invented case studies, sample portfolios and profit or loss figures.
  • Author personas with credentials the desk cannot substantiate.
  • Backdated publication dates or fabricated update histories.
  • Performance claims about any product, whether linked from this site or not.

Illustrative arithmetic

Several notes work through numeric examples: what a given order does to a pool, how a route inflates a pool-level sum, how depth changes after a migration. These examples use invented inputs and are introduced by an explicit label. The purpose is to make a relationship visible and reproducible. The inputs are not measurements, are not averages of measurements, and should never be quoted as observations.

Heuristics versus proof

Some questions this desk covers — particularly whether activity is broad or narrow — can only be approached with evidence tests that have innocent explanations. Where that is the case, the note says so in the same section as the test, describes the legitimate behaviour that produces the same signature, and stops short of asserting intent. This desk does not publish accusations against named tokens, teams or wallets.

External links and product mentions

Links to documentation, explorers and repositories are used where they support a specific claim, and they open in a new tab. Commercial mentions are handled under a stricter rule: the site as a whole carries a small, fixed number of references to a single external execution product, each placed in a paragraph where a category of software is genuinely the subject.

Those references are marked as external, describe what the reader will find on the other side, and carry no price, no performance figure and no recommendation. This desk does not operate that product, does not measure it, and takes no position on whether any reader should use it. If a claim about it ever appears here that cannot be verified by the reader, it is an error and should be reported.

Independence

No article conclusion is for sale. No section of a note is written to accommodate a third party, and no product placement is inserted into a note whose subject does not already call for it. Where the desk has nothing useful to say about a product category, it says nothing.

Dates and updates

Every page carries a publication date equal to the date it was actually built and a modification date reflecting the most recent change. Neither is manipulated to make a note look fresher than it is. When a note is materially revised — a corrected mechanism, a changed conclusion — the change is made in place and described on the page rather than quietly overwritten.

Corrections

Report an error through the contact page. Useful reports identify the specific sentence, explain what is wrong, and where possible point at a transaction, account or document that demonstrates it. Corrections to mechanism are treated as urgent; corrections to phrasing are handled in the ordinary course.

Scope limits

This desk publishes research and educational material about market mechanics. Nothing on it is financial, investment, legal or tax advice, and nothing on it should be read as a recommendation to buy, sell or hold anything. Readers who want to know what the desk does and does not cover will find that stated on the about page.