> For the complete documentation index, see [llms.txt](https://docs.useicaria.xyz/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.useicaria.xyz/transparency/commitments.md).

# Commitments

The specific promises this venue makes, each paired with the way to check it.

Saying you are transparent is free; committing to something is not. Each promise below comes with the method for verifying it. Any one of them failing verification counts as an incident and gets handled as one.

## Pricing

* **Every fill is itemised on-chain.** The fill event carries mid, spread, skew and fee. Check: put any fill on Blockscout next to its receipt.
* **No fill outside the band.** This is an invariant in the contract rather than a policy anybody applies. Check: the invariant suite is public, and the explorer marks the band margin on each fill.
* **Execution quality is published, unfiltered.** How far each fill sat from the oracle mid, aggregated daily and downloadable in raw form. Check: [Execution quality](/transparency/execution-quality.md), recomputable from events.
* **No payment for order flow, no privileged routing.** For each fill the router settles the best price it can verify, on-chain. Check: rebuild the venue comparison for any fill from the oracle round and vault state in its event.

## Funds

* **No custody, ever.** Settlement is atomic and vault inventory belongs to LPs. Check: beyond settlement and withdrawal, no contract function moves user assets, which the audits confirm.
* **Withdrawals are unconditional.** Regardless of vault state and regardless of any pause. Check: the invariant suite, and withdrawals made during halts, which sit in the explorer alongside every other.

## Change control

* **Parameter changes are timelocked and published with reasoning before they execute.** Check: the governance log holds proposal, rationale, window and execution across the venue's entire history.
* **No retroactive fees.** Whatever the fee was at fill time is the fee you paid. Check: fill events record the fee that applied.
* **Settlement logic never changes under a deployment already running.** New logic arrives as a new deployment that users opt into. Check: bytecode is verified against tagged source, asserted in CI, and reproducible by anyone.

## Disclosure

* **Listings publish their evidence.** Tier assignment data, bytecode review findings and issuer disclosures for each market, published before the market opens. Check: the explorer's listing record.
* **Incidents get public post-mortems within 14 days.** Check: the incident log, where an incident lacking a post-mortem is itself the breach.
* **These documents state risks plainly.** Issuer, gap and oracle risk all sit in the reading path of every participant rather than in an appendix. Check: read [Risk](/risk/framework.md).

## The promises we decline to make

Best execution measured against every venue everywhere, the profitability of anybody's position, or uptime on convenience services. What gets promised above is what the design can genuinely hold itself to, which is exactly why those are the promises made.


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