Position eligibility
ImplementedWhich assets may be mirrored, and why an unapproved token is excluded from the denominator too.
#Approval is a recorded human decision
An asset is eligible only after a review is recorded onchain in the AssetRiskRegistry, with its decimals cross-checked against the token contract itself.
A token is never approved because of its name. This chain hosts six verified contracts called Quoter, two of them wired to fork factories — a name is not evidence of anything.
#What review covers
| Check | Why |
|---|---|
| Token behaviour | Fee-on-transfer, rebasing and blocklisting tokens break pro-rata accounting |
| Decimals, read from the token | A mismatch between assumed and actual decimals misprices by orders of magnitude |
| Canonical pool | Which venue is authoritative for this pair |
| Liquidity against the floor | Whether the pool can absorb a realistic trade |
| TWAP history | Whether an independent price reference exists at all |
| Full-size exit quote | Whether the position can be got out of, not just into |
#Unapproved assets are excluded twice
An unapproved holding is:
- never bought — the sync records
AssetNotApprovedand moves on; and - excluded from the sizing denominator.
The second is the one that is easy to miss and matters most. If unapproved holdings counted toward the source's portfolio value, anyone could airdrop a source a nominally valuable token and shrink every trade that vault makes from then on. Excluding them removes the lever.
The airdrop case is covered by a test: a token sent to a source without approval is recorded as divergence, never purchased, and does not move the denominator.
#Pausing an asset
An approved asset can be paused. A paused asset is not bought; existing holdings are unaffected and remain fully redeemable in kind.
#What approval does not confer
Approval says an asset is mechanically safe to mirror — that it transfers predictably, prices consistently, and can be exited. It is not an opinion about whether the asset is a good thing to own. Nothing in this system offers one.