Leader observes
Fetches three fixed exchange endpoints and normalizes decimal strings into integer cents.
MARKET COVENANTS & RISK ATTESTATIONSVerify conditions.
Verify conditions.
Coordinate with evidence.
PriceGuard Covenant independently verifies BTC/USD market evidence and records attestations. It is non-custodial: no funds are held, transferred, or settled.
EVALUATION3 / 3sources required
Leader fetch→Validator re-fetch→State transition
MARKET CONTROL PLANE
Market evidence, not a decorative feed
LATEST V2 ON-CHAIN SNAPSHOTUNVERIFIED
BTC / USD
Direct venue median · policy BTCUSD-1
Confidence—
Venue spread—
Valid sources—
Sequence—
CURRENT API PREVIEWUNVERIFIED
These server-fetched venue values show current endpoint availability. They are not validator consensus, are not stored on-chain, and cannot satisfy a covenant.
WHY GENLAYER
Validators independently observe the outside world
Validators re-observe
Each validator fetches the same venues, recomputes median and dispersion, and compares—not merely parses—the leader result.
Attestation issued
Only a fresh, three-source, high-confidence snapshot can trigger an immutable covenant attestation.
EXPLICIT TRUST BOUNDARY
Small allowlist. Visible policy.
2 of 3minimum refresh evidence
120smaximum observation age
100 bpssource spread breaker
50 bpsleader-validator tolerance
Exchange APIs can fail, correlate, rate-limit, or publish abnormal prints. PriceGuard reduces single-response trust; it does not eliminate venue, validator, network, or smart-contract risk.