> 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/using-icaria/trade-explorer.md).

# Trade explorer

Everything the venue does, visible to anybody who looks.

Whatever the venue does, the trade explorer records: every fill, the live state of each market, every parameter and every change to one, rendered from chain events with a link back to each of them. Loading it needs no wallet, because none of it is private to anyone. Either "transparently on-chain" can be checked here, or the phrase is worthless.

## Per market

| Panel          | Contents                                                                                                                             |
| -------------- | ------------------------------------------------------------------------------------------------------------------------------------ |
| Live quote     | Bid, ask and mid as they stand, with the full breakdown, priced exactly the way the router would price it this second                |
| Regime         | Which regime is active, which signals produced it (feed timestamp, stream market status), and how long it has held                   |
| Inventory      | Where the vault's mix sits against target and band, plus the direction and size of skew                                              |
| Parameters     | Tier, spreads, clip, caps and band, each read straight from `ParamController`                                                        |
| History        | Fills with itemised breakdowns, spread revenue split by regime, and the halt log with its reasons                                    |
| Listing record | The evidence behind the tier, what the bytecode review found, the issuer disclosure, and proof-of-reserve status where a feed exists |

## Venue-wide

* Volume, fill count and revenue split by market, by venue (vault or RFQ) and by regime.
* Total vault inventory exposed to Robinhood Assets (Jersey) Ltd, as one figure, per [Issuer risk](/risk/issuer.md).
* The [execution quality](/transparency/execution-quality.md) dataset: the distance of each fill from the oracle mid, aggregated and downloadable.
* The governance log: every parameter proposal with its reasoning, its timelock window and its execution, both historical and pending.

## Each figure cites its source

Behind each figure is a link to the event, transaction or contract read on Blockscout that produced it. The explorer runs on the open-source indexer, so anybody can rerun it against any RPC and compare, and any gap between explorer and chain is a bug worth reporting, with the chain being authoritative.

## If you are auditing or integrating

Everything rendered here is available raw through the [API](/architecture/api.md) at `/v1/markets`, `/v1/fills` and `/v1/execution-quality`, and as CSV exports, complete per-position LP histories included for account holders. Researchers are welcome to the data. The view taken here is that an RWA market nobody can reconstruct independently has no record worth the name.


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