Known Limitations

#Execution

• No router deployed anywhere. SwapAdapter.router is address(0) on the live testnet deployment; every executeCopy reverts. Phase 1 is a cash vault.
• Live fill indexer is direction-only. LiveFillSource decodes buy/sell but reports notionalUsdg = 0 / price = 0, so live fills reject as ZERO_NOTIONAL until a cited price source is attached. Paper/fixture fills carry real numbers.
• SwapAdapter.quote always reverts. No on-chain quoting exists.

#Market coverage

• Only NVDA, AAPL, SPY on 4663 are trade-eligible. Everything on 46630 is unverified/placeholder and disabled.
• The session clock is a fixed ET schedule (04
  –09
  –16
  –20
  ) with no holiday calendar; it fails closed when uncertain.

#Operations

• No multi-RPC failover, no metrics/alerting stack, no backfill of missed fills.
• No upgrade path — contracts are immutable.
• No local-chain dev harness — development targets testnet or the paper engine.

#Token / economics

• $SEAT, staking, LP locking, and the listing bond are Phase 2 code, never deployed. No token exists on any chain. See Economics.
• The Phase 1 fee split leaves the staker slice as a vault liability until Phase 2 wires stakerRecipient.

#Assurance

• No audit. The test suite (90 Foundry tests, keeper guard tests, site number tests) expresses intent; it is not a security review.
• Nothing on mainnet. All mainnet addresses are null; deploy scripts are unbroadcast.

#Documentation boundaries

• No faucet is documented for testnet funds.
• No security policy file exists in the repo — see Reporting.