The Trip Wires

Condition

Physical VerifyPrice p95 exceeds SLO bounds for core workloads for ≥3 consecutive months, with no credible remediation path.

Condition

Corridor refund_safe < 100% on any admissible route, with repeated incidents and no automatic delist + remediation.

Condition

>70% of verifications on a single hardware profile, TEE vendor, or jurisdiction for ≥3 consecutive months.

Condition

Receipt datasets become unavailable, unverifiable, or controlled by a single party.

Condition

Fee+burn coverage falls below 10% of security budget and workload mix becomes >80% speculative for ≥12 months.

Condition

Triad usage grows but native-asset fee volume, burns, collateral lockups, and fee coverage do not grow with it for ≥12 months.

Condition

Governance can alter issuance schedules, fee routing, or telemetry rules without hard constitutional constraints, timelocks, or supermajority requirements; or a single address family holds >20% of time-locked governance weight for ≥2 consecutive quarters; or the subtractive-only emergency path is invoked more than twice in four quarters or its scope is eroded to permit value redirection.

Condition

Physical VerifyPrice (FCR audit cost) exceeds 2× its frozen trailing-four-quarter baseline, or Facility Capacity Receipt data is unavailable or unverifiable for >20% of active capacity, for ≥2 consecutive quarters.

Condition

Top-3 hyperscalers, closed TEEs, or a single jurisdiction exceed 50% of VerifyPrice-tracked verified compute capacity, and the Enclosure Risk Flag triggers and persists.

Condition

Forced Disclosure Incidence reaches ≥10% of surveyed employment, banking, housing, travel, or benefits onboarding events in any major jurisdiction, or the non-custodial share of settled native volume falls below 50% while institutional usage grows, for ≥12 months.

Condition

Network capacity-weighted sovereign optionality falls below threshold for ≥2 consecutive quarters, or >50% of VerifyPrice-tracked capacity sits in jurisdictions operating an active curtailment regime against verification workloads.

Condition

Condition A: capacity-weighted ω across the canonical starter set falls below the realized take rate (ω < τ) for ≥2 consecutive quarters. Condition B: native fee turnover fails to grow over a trailing four-quarter window while physical throughput grows. Either condition breaching trips the red line.

Condition

A pre-declared material native-asset drawdown persists ≥30 days; collateral coverage falls below realized slashing exposure; operator exit exceeds threshold; stress-adjusted DVC declines; released collateral increases liquid float; and core service SLOs fail to recover within 90 days. Clauses are conjunctive.

Condition

With the maturity gate open, the regime-conditioned convenience-yield series shows no coefficient on regime pressure R distinguishable from zero across at least two distinct macro states for ≥4 consecutive quarters, with the specification and state classification pre-committed.

Condition

Cross-lender haircut dispersion on the base asset and on pledged positions fails to decline as verification coverage rises; or dispersion widens materially during a declared stress episode while receipt availability and VerifyPrice remain within SLO.

Condition

Condition A (weakens): Tier II/III free-choice denomination share, subsidy-adjusted, is flat or declining over four quarters while throughput and native fee turnover grow. Condition B (kills): Tier I free-choice denomination share is flat or declining while Tier I free-choice contract volume grows. An accounting carve-out for externally mandated quoting units is applied before either condition is evaluated.