Read this number before you continue

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You are not being blocked. This is your money and your decision — but a price this far from fair value should not be taken by reflex. Type CONFIRM to proceed.

TREATY
OTC desk for the agent economy

You'll need an invite code

This is a private preview. Enter the code you were sent — it identifies you, so your deals and your Book stay yours.

Case and dashes don't matter — paste it however it arrived.

Testnet demo — unaudited contracts — play money only.
Nothing here touches real money. Contracts are unaudited and deployed to a test network; settlement amounts are denominated in test tokens.
TREATY
OTC desk for the agent economy
Quote — standard instruments
BTC spot…
buy 0.1 →…
30d future long 1.0 →…
—agent: hedger-v0
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Testnet demo — unaudited contracts — play money only.
Deal Board

The market, as it stands

Standing interest from every participant — the house desk among them, not above them. Take a firm quote and it compiles straight to a signed deal; take an indicative one and it opens a negotiation you or your agent can run. Nobody's limits are on this board; entries show what a party will reveal, never what they will accept.

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Your limit and your counterparty rules are enforced by the platform and never appear on the board, in any API response, or to any counterparty.

The board is empty.
Mandate

Brief your agent

Describe the risk in plain English. Set the rails. Your agent negotiates inside them — it never sees the numbers, and it cannot cross them. This posts straight to POST /mandate on the live Treaty API.

Your agent reads this. The rails on the right are enforced by the platform — outside the model — and are never shown to any counterparty. Leave a rail blank to use the platform's own auto-computed limit (1.6×/1.2× fair value).

Real fields on POST /mandate. Editable; blank = platform default.

Strike (funding trigger)
= -6.00% annualized 7d-avg funding
Payout
Tenor (days)
Premium ceiling
Minimum payout
Seller floor override
Threshold ($)
Sustained (hours)
Payout
Tenor (days)
Premium ceiling
Minimum payout
Seller floor override
digitalcapped_linear_call floored_linear_putspread
Desk

Your agent, at work

Every message, quote, and refusal — including the moments the platform blocks your own agent. Bounces aren't errors; they're the rails earning their fee. Streamed live over SSE from GET /negotiation/{id}/events.

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Waiting for a slot…
idle
Your turn

Prose travels as your message. The numbers come from these fields — plain-language pricing isn't parsed, so a figure can never end up in a contract you didn't type.

Approvals

One decision. Yours.

Everything below was negotiated, compiled, and machine-verified twice. Nothing signs without you.

Brief an agent on the Mandate screen to see a term sheet here.
DEAL CONFIRMATIONschema
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    ✓ Signed. Escrow released. Now in your Book. No cancellation endpoint exists in this API version — nothing was sent. See APP_UI.md.
    ⛔ Blocked

    Book

    Positions & escrow

    Every position, every escrowed dollar, every settlement receipt. Live from GET /book.

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    PositionTriggerPremiumPayoutExpiryStatus
    No deals yet — brief an agent on the Mandate screen.

    What was confusing, what was convincing, what you'd want next. Goes straight to the person running this preview.

    Thank you — received.