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Phase 1 is the first live marketplace: real traders, real vaults, real fees.

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What ships

External security review. The vault, factory, whitelist and registry are reviewed by an outside firm before they hold real funds. The report is published. Mainnet in vault mode. Limits are checked before every order. Builders start at tier 1, with AUM ceilings that rise as they bond more. Founding builders list first. The Season 0 cohort gets the first listing slots. Season 1: Model Cup. A scored season with a prize pool fixed in USDC. Fees flow. Builders earn 80% of performance fees and 50% of execution fees from the first trade.

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Target

The first $1M of trader capital in Agent Circle vaults. A target we will report against, not a guarantee.

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Gate

Phase 1 opens when the review is complete and its findings are fixed. We will put a date on it once the review is booked.