Use Markets to inspect where liquidity is observable and which evidence supports the displayed trading conditions. The connected application shows returned source records; the demo contains illustrative charts and figures that are not a live feed.
Inspect the market map#
Open /app/markets, select the intended workspace and review the pool or venue filter. The connected map binds observations to venue, pool, chain and asset mapping. Amounts are expressed in the returned quote asset's atomic units; they are not automatically USD values.
The table can show deployed capital, active capital, usable depth, stable reserve, source age and freshness state. Open a pool row to inspect its exact context and source evidence. Check the observation time and warnings before treating it as current.
Venue shares are displayed only when fresh rows marked as included reconcile to a complete returned total within one chain and asset mapping. Mixed mappings or conflicting totals remain unavailable. Depth share describes observable liquidity; it is not an instruction to allocate treasury capital.
Understand capacity and depth#
When compatible finalized evidence is available, the current pool view can show directional capacity within a fixed ±2% price band:
| Metric | Meaning |
|---|---|
| Buy capacity | Gross quote input to the upper pool boundary, including the fee. |
| Sell capacity | Quote output when selling the project token to the lower boundary. |
| Active liquidity | Raw V3 liquidity active at the finalized pool tick. |
| Usable depth | The source's quote-atomic depth measure for its stated venue context. |
Directional capacity is specific to one finalized pool cut. The trade-size selector does not create a signed depth curve, executable quote or spread observation. Per-venue buy/sell curves, USD values and historical spread series remain unavailable when the source does not return them.
Review market quality#
Open /app/markets?tool=market-quality. A validated quality generation combines ten components:
| Component | Published weight |
|---|---|
| Slippage | 20% |
| Usable depth | 15% |
| Spread | 10% |
| Capital efficiency | 10% |
| Concentration | 10% |
| Volatility resistance | 10% |
| Inventory risk | 10% |
| Imbalance | 5% |
| Post-trade recovery | 5% |
| Reliability | 5% |
Component scores are integers from 0 to 100. The aggregate is the floored weighted sum across the full published weight denominator; missing optional components remain uncovered. Slippage, usable depth, spread and reliability are critical inputs. Missing critical inputs, inconsistent weights or incorrect score arithmetic suppress the aggregate.
Coverage is the sum of weights for components with valid published scores. It does not measure source freshness or count connected providers. Capital efficiency remains uncovered when deployed capital is zero.
Use component details, raw metrics, drivers and source bindings to explain a change. History uses only valid returned generations for the same vault and score version through the selected generation. A filtered chart may not contain the full historical collection. Prior-score comparisons require the referenced prior generation; benchmark history is unavailable unless separately supplied. A peer percentile needs a complete signed eligible cohort and current provider evidence.
A market quality score describes liquidity conditions. It does not rate the token as an investment or authorize a trade. A local score export records the returned data and filters; it does not create a signed public publication.
Check source health before acting#
Open /app/data-health when a figure is unavailable or an action is blocked. Review source completeness, snapshots, valuation coverage and reconciliation failures for the selected vault. Internal roles can additionally inspect indexer lag, worker coverage and reorg/replay history.
The connected presentation binds positions, directional depth and valuation to the selected vault and the same snapshot, block number and block hash. Evidence from another cut cannot fill a missing metric. A new page refresh does not itself make an old source observation fresh.
Distinguish a stale provider from a deteriorating market. Source disagreement or incomplete reconciliation can block risk-increasing actions. Review the specific gate and available permitted responses; an attractive demo chart does not bypass it.
For a liquidity concern, follow Markets → exact pool → Data health → scoped investigation → Research → human decision. Capital requirements and migration tools prepare supported studies or plans; they do not move or reserve funds by calculation alone. Operational changes continue through vault policy and proposal controls.