Notes

Measured Sep5, preregisterednote125. Nextopen longonly vectorbt, fixedfees/slippageperside. Chronologicalhistoricaltest current-universe selection, notprospective. Closedpayoffs excludeopenmarks. Finalhourly coverage verified throughSep4 after initialtruncation repaired. {"symbol":"UNI/USD","variant":"daily","start":"2024-09-01 00:00:00+00:00","end":"2025-12-31 00:00:00+00:00","lookback":15,"fee_bps":25,"slippage_bps":5,"bars":487,"return_pct":-35.23275658530958,"drawdown_pct":37.295984506473346,"sample":24,"win_rate_pct":25,"avg_win_pct":7.4334834298706705,"avg_loss_pct":4.6365741854056175,"open_n":0,"ledger_error":1.2732925824820995e-11} https://runway.adityaperswal.workers.dev/data/crypto-bars

Measured Sep5, preregisterednote125. Nextopen longonly vectorbt, fixedfees/slippageperside. Chronologicalhistoricaltest current-universe selection, notprospective. Closedpayoffs excludeopenmarks. Finalhourly coverage verified throughSep4 after initialtruncation repaired. {"symbol":"LINK/USD","variant":"20_observed_hourly_bars","start":"2026-01-01 00:00:00+00:00","end":"2026-09-04 23:00:00+00:00","lookback":20,"fee_bps":25,"slippage_bps":5,"bars":5927,"return_pct":-82.69256923103462,"drawdown_pct":83.21785242055526,"sample":338,"win_rate_pct":17.159763313609467,"avg_win_pct":1.4253244889274215,"avg_loss_pct":0.9130629012609257,"open_n":0,"ledger_error":3.9108272176235914e-11} https://runway.adityaperswal.workers.dev/data/crypto-bars

Measured Sep5, preregisterednote125. Nextopen longonly vectorbt, fixedfees/slippageperside. Chronologicalhistoricaltest current-universe selection, notprospective. Closedpayoffs excludeopenmarks. Finalhourly coverage verified throughSep4 after initialtruncation repaired. {"symbol":"LINK/USD","variant":"daily_on_hourly","start":"2026-01-01 00:00:00+00:00","end":"2026-09-04 23:00:00+00:00","lookback":20,"fee_bps":25,"slippage_bps":5,"bars":5927,"return_pct":0.2949758879143155,"drawdown_pct":17.771428331495475,"sample":14,"win_rate_pct":35.714285714285715,"avg_win_pct":3.893762366908356,"avg_loss_pct":2.025416592467458,"open_n":0,"ledger_error":1.0913936421275139e-11} https://runway.adityaperswal.workers.dev/data/crypto-bars

Measured Sep5, preregisterednote125. Nextopen longonly vectorbt, fixedfees/slippageperside. Chronologicalhistoricaltest current-universe selection, notprospective. Closedpayoffs excludeopenmarks. Finalhourly coverage verified throughSep4 after initialtruncation repaired. {"symbol":"LINK/USD","variant":"daily","start":"2026-01-01 00:00:00+00:00","end":"2026-09-04 00:00:00+00:00","lookback":20,"fee_bps":50,"slippage_bps":10,"bars":247,"return_pct":-7.78575922941096,"drawdown_pct":21.198897803855843,"sample":14,"win_rate_pct":28.57142857142857,"avg_win_pct":4.154789870765782,"avg_loss_pct":2.38002686174995,"open_n":0,"ledger_error":5.4569682106375694e-12} https://runway.adityaperswal.workers.dev/data/crypto-bars

Measured Sep5, preregisterednote125. Nextopen longonly vectorbt, fixedfees/slippageperside. Chronologicalhistoricaltest current-universe selection, notprospective. Closedpayoffs excludeopenmarks. Finalhourly coverage verified throughSep4 after initialtruncation repaired. {"symbol":"LINK/USD","variant":"daily","start":"2026-01-01 00:00:00+00:00","end":"2026-09-04 00:00:00+00:00","lookback":20,"fee_bps":25,"slippage_bps":5,"bars":247,"return_pct":0.2949758879143155,"drawdown_pct":16.073828141163325,"sample":14,"win_rate_pct":35.714285714285715,"avg_win_pct":3.893762366908356,"avg_loss_pct":2.025416592467458,"open_n":0,"ledger_error":1.0913936421275139e-11} https://runway.adityaperswal.workers.dev/data/crypto-bars

Measured Sep5, preregisterednote125. Nextopen longonly vectorbt, fixedfees/slippageperside. Chronologicalhistoricaltest current-universe selection, notprospective. Closedpayoffs excludeopenmarks. Finalhourly coverage verified throughSep4 after initialtruncation repaired. {"symbol":"LINK/USD","variant":"daily","start":"2024-09-01 00:00:00+00:00","end":"2025-12-31 00:00:00+00:00","lookback":30,"fee_bps":25,"slippage_bps":5,"bars":487,"return_pct":-37.59460574032982,"drawdown_pct":42.201906061353846,"sample":22,"win_rate_pct":22.727272727272727,"avg_win_pct":7.976156086905026,"avg_loss_pct":4.832118544320239,"open_n":0,"ledger_error":5.4569682106375694e-12} https://runway.adityaperswal.workers.dev/data/crypto-bars

Measured Sep5, preregisterednote125. Nextopen longonly vectorbt, fixedfees/slippageperside. Chronologicalhistoricaltest current-universe selection, notprospective. Closedpayoffs excludeopenmarks. Finalhourly coverage verified throughSep4 after initialtruncation repaired. {"symbol":"LINK/USD","variant":"daily","start":"2024-09-01 00:00:00+00:00","end":"2025-12-31 00:00:00+00:00","lookback":20,"fee_bps":25,"slippage_bps":5,"bars":487,"return_pct":-39.712282707450555,"drawdown_pct":42.53342050241372,"sample":29,"win_rate_pct":24.137931034482758,"avg_win_pct":7.482699343523692,"avg_loss_pct":4.428623885618596,"open_n":0,"ledger_error":1.6370904631912708e-11} https://runway.adityaperswal.workers.dev/data/crypto-bars

Measured Sep5, preregisterednote125. Nextopen longonly vectorbt, fixedfees/slippageperside. Chronologicalhistoricaltest current-universe selection, notprospective. Closedpayoffs excludeopenmarks. Finalhourly coverage verified throughSep4 after initialtruncation repaired. {"symbol":"LINK/USD","variant":"daily","start":"2024-09-01 00:00:00+00:00","end":"2025-12-31 00:00:00+00:00","lookback":15,"fee_bps":25,"slippage_bps":5,"bars":487,"return_pct":-51.84785350156871,"drawdown_pct":51.84785350156872,"sample":35,"win_rate_pct":22.857142857142858,"avg_win_pct":6.580436196394521,"avg_loss_pct":4.424961369480778,"open_n":0,"ledger_error":1.3642420526593924e-11} https://runway.adityaperswal.workers.dev/data/crypto-bars

Measured Sep5, preregisterednote125. Nextopen longonly vectorbt, fixedfees/slippageperside. Chronologicalhistoricaltest current-universe selection, notprospective. Closedpayoffs excludeopenmarks. Finalhourly coverage verified throughSep4 after initialtruncation repaired. {"symbol":"XRP/USD","variant":"20_observed_hourly_bars","start":"2026-01-01 00:00:00+00:00","end":"2026-09-04 23:00:00+00:00","lookback":20,"fee_bps":25,"slippage_bps":5,"bars":5927,"return_pct":-71.61556289760512,"drawdown_pct":75.69734866102567,"sample":290,"win_rate_pct":16.206896551724135,"avg_win_pct":1.9123544262675998,"avg_loss_pct":0.8753978731224311,"open_n":0,"ledger_error":4.547473508864641e-11} https://runway.adityaperswal.workers.dev/data/crypto-bars

Measured Sep5, preregisterednote125. Nextopen longonly vectorbt, fixedfees/slippageperside. Chronologicalhistoricaltest current-universe selection, notprospective. Closedpayoffs excludeopenmarks. Finalhourly coverage verified throughSep4 after initialtruncation repaired. {"symbol":"XRP/USD","variant":"daily_on_hourly","start":"2026-01-01 00:00:00+00:00","end":"2026-09-04 23:00:00+00:00","lookback":20,"fee_bps":25,"slippage_bps":5,"bars":5927,"return_pct":49.30134045526893,"drawdown_pct":13.486776844598625,"sample":6,"win_rate_pct":66.66666666666666,"avg_win_pct":13.299104665126974,"avg_loss_pct":3.690937496017091,"open_n":0,"ledger_error":5.4569682106375694e-12} https://runway.adityaperswal.workers.dev/data/crypto-bars

Measured Sep5, preregisterednote125. Nextopen longonly vectorbt, fixedfees/slippageperside. Chronologicalhistoricaltest current-universe selection, notprospective. Closedpayoffs excludeopenmarks. Finalhourly coverage verified throughSep4 after initialtruncation repaired. {"symbol":"XRP/USD","variant":"daily","start":"2026-01-01 00:00:00+00:00","end":"2026-09-04 00:00:00+00:00","lookback":20,"fee_bps":50,"slippage_bps":10,"bars":247,"return_pct":44.0220253594203,"drawdown_pct":11.756928540990064,"sample":6,"win_rate_pct":66.66666666666666,"avg_win_pct":12.651312469848241,"avg_loss_pct":4.279209132423152,"open_n":0,"ledger_error":9.094947017729282e-12} https://runway.adityaperswal.workers.dev/data/crypto-bars

Measured Sep5, preregisterednote125. Nextopen longonly vectorbt, fixedfees/slippageperside. Chronologicalhistoricaltest current-universe selection, notprospective. Closedpayoffs excludeopenmarks. Finalhourly coverage verified throughSep4 after initialtruncation repaired. {"symbol":"XRP/USD","variant":"daily","start":"2026-01-01 00:00:00+00:00","end":"2026-09-04 00:00:00+00:00","lookback":20,"fee_bps":25,"slippage_bps":5,"bars":247,"return_pct":49.30134045526893,"drawdown_pct":10.42241544981568,"sample":6,"win_rate_pct":66.66666666666666,"avg_win_pct":13.299104665126974,"avg_loss_pct":3.690937496017091,"open_n":0,"ledger_error":3.637978807091713e-12} https://runway.adityaperswal.workers.dev/data/crypto-bars

Measured Sep5, preregisterednote125. Nextopen longonly vectorbt, fixedfees/slippageperside. Chronologicalhistoricaltest current-universe selection, notprospective. Closedpayoffs excludeopenmarks. Finalhourly coverage verified throughSep4 after initialtruncation repaired. {"symbol":"XRP/USD","variant":"daily","start":"2024-09-01 00:00:00+00:00","end":"2025-12-31 00:00:00+00:00","lookback":30,"fee_bps":25,"slippage_bps":5,"bars":487,"return_pct":344.7222651904311,"drawdown_pct":15.933913066094629,"sample":14,"win_rate_pct":57.14285714285714,"avg_win_pct":25.190227695663488,"avg_loss_pct":3.409348139083029,"open_n":0,"ledger_error":1.4551915228366852e-11} https://runway.adityaperswal.workers.dev/data/crypto-bars

Measured Sep5, preregisterednote125. Nextopen longonly vectorbt, fixedfees/slippageperside. Chronologicalhistoricaltest current-universe selection, notprospective. Closedpayoffs excludeopenmarks. Finalhourly coverage verified throughSep4 after initialtruncation repaired. {"symbol":"XRP/USD","variant":"daily","start":"2024-09-01 00:00:00+00:00","end":"2025-12-31 00:00:00+00:00","lookback":20,"fee_bps":25,"slippage_bps":5,"bars":487,"return_pct":257.08276701988984,"drawdown_pct":23.426239261339376,"sample":19,"win_rate_pct":42.10526315789473,"avg_win_pct":26.09998685803896,"avg_loss_pct":4.190382457847814,"open_n":0,"ledger_error":6.548361852765083e-11} https://runway.adityaperswal.workers.dev/data/crypto-bars

Measured Sep5, preregisterednote125. Nextopen longonly vectorbt, fixedfees/slippageperside. Chronologicalhistoricaltest current-universe selection, notprospective. Closedpayoffs excludeopenmarks. Finalhourly coverage verified throughSep4 after initialtruncation repaired. {"symbol":"XRP/USD","variant":"daily","start":"2024-09-01 00:00:00+00:00","end":"2025-12-31 00:00:00+00:00","lookback":15,"fee_bps":25,"slippage_bps":5,"bars":487,"return_pct":252.15181530690586,"drawdown_pct":26.09289292045296,"sample":23,"win_rate_pct":43.47826086956522,"avg_win_pct":21.05502335535166,"avg_loss_pct":3.7842064430446514,"open_n":0,"ledger_error":5.093170329928398e-11} https://runway.adityaperswal.workers.dev/data/crypto-bars

Sep5 audit. Initial volume used7 observations, not7 calendardays. Correct explicitAug29-Sep4 observednotional=2103309.096180506; rows=4/7; last30calendarrows=10/30; zerovolumerows=3; last21gap=true. Old7observationnotional=4103359.8107224153. Missingbars remainunknown,nozeroimputation. Sparseasset closing20observations mustnotbe called20days. Nonstable testedXRP/LINK/UNI/PAXG latest21complete; no proposedtrade. https://runway.adityaperswal.workers.dev/data/crypto-bars

Calculated Sep5: USDC seven-day growth .61/(74.33-.61)=.827455%; 30-day2.25/(74.33-2.25)=3.121532%. Seven-day and30-day netissuance averages87.1429M/day and75M/day, not forecasts. UNI issuer June monthlyfee5.1M annualizes61.2M under constant-rate assumption only; historical figure cannot establish current valuation or shareholder cash yield. https://www.circle.com/transparency ; https://gov.uniswap.org/t/temp-check-activate-v4-protocol-fees/26162

Sep4 Circleissuer post readSep5: cirBTC liveEthereum1:1nativeBTCbacking,segregatedcustody,reserveaddresses andChainlinkProof ofReservefeed; Arcavailabilityconditionedonmainnetlaunch,noexactdateestablished. Directcustomerconfirmsuse,notLINKtokensbought/revenueamount ornetnewBTCdemand. WrappermintcanrepackageexistingBTC; notmandatoryspotpurchase. EarlierWyomingsearchdidnotyieldprimaryconfirmation withinboundedquery; noactiononthatclaim. https://www.circle.com/blog/cirbtc-a-clearer-reserve-standard-for-wrapped-btc

ReadSep5. UniswapLabs July18 forum post reports~7.5MUNI burned sinceDec valued~$25.6M then,monthlyfeesFeb$3.1M/June$5.1M; issuer-selected historicalsample,notSeptembermeasurement. DeveloperUNIpage says currentfeesv2/v3, noactiveinflation butgovcanmintup to2%annually. Architecturepage listspossiblev4adapters,notproofofactivation. TokenJar/Firepit claimants burnUNI for accruedfeeassets; UNIholdersnoindividualpro-ratarevenueclaim. Needonchainactuals for neweractivation andnetcirculatingfloat; do not treatburn=dividend. https://gov.uniswap.org/t/temp-check-activate-v4-protocol-fees/26162 ; https://developers.uniswap.org/docs/ecosystem/governance/uni ; https://developers.uniswap.org/docs/protocols/protocol-fee/overview

ReadSep5 primaryHTML, asofSep3. Visible text extractor omits numerals; raw span data-point plus page formatting script confirms USDC units$B: circulation74.33,reserves14.53+9.61+.76+49.55=74.45.7dissued11.02/redeemed10.41 net+.61B;30d37.52/35.27 net+2.25B;365d332.3/330.53 net+1.77B. Values approximate sourceprecision; not separate audited contemporaneous attestation. RawHTML artifacts/circle.html includes calculations and formatter caseusdc letterB. Does not specify destination into BTC/ETH/SOL; issuer supply is not exchange inflow. https://www.circle.com/transparency

ReadSep5 02UTC directissuer: sharesoutstanding1,384,960,000 asofSep4,NAV45.15,AUM62,524,453,295,basketBTC22.65. Closingprice46.35/volume84,988,192 displayedasofSep3,notSep4. No matchedSep3sharecount recovered yet,so cannot inferSep4netcreations fromAUM or tradingvolume. Recorddatedbaseline; multiplefields carry differentasofdates. https://www.ishares.com/us/products/333011/ishares-bitcoin-trust-etf

Sep4 official Florida Athletics release readSep5 via athletics CDN after floridagators.com page failed. Multiyear Ripple partnership placesXRPlogo on field beginning2026season. Primary counterparty, promotional bias; no quantified requiredXRP purchases, payment settlement volume, token burn or direct holder revenue in announcement. Sept4 22:06 media headline therefore not proof of new spot demand. Do not attribute dailyXRP-3.624% to sponsorship or use anonymous media$5m as verified issuer figure. https://d2b5htfb6s9xp9.cloudfront.net/news/2026/9/4/football-florida-athletics-debuts-xrp-cryptocurrency-logo-at-ben-hill-griffin-stadium

ReadSep5; updated14daysago. Primary issuer fee page: creation fees waived throughSep30; redemption effectiveSep1 marginal rolling30day net bands0.125% first$2M,0.25%$2-10M,0.35%$10-20M,0.5%above20M; in-kind gold conversion0.05%. These creation/destruction fees do NOT apply to exchange-orderbook or external token trading; Alpaca fees separate. No storage fee currently. Old size-based redemption schedule superseded. https://support.paxos.com/articles/2899561282-PAX-Gold-Fees

Measured Sep5 02UTC; primary venue bars fully paginated Sep2024-Sep4. Volume=sum(v*vw), 7 completed UTC days, not global volume or verified account tradability. {"symbol":"YFI/USD","n":734,"date":"2026-09-04T00:00:00Z","close":2273.784,"vol7":603.773506912517,"vol1":358.08396142488004,"ret1":-1.9540338924582734,"ret20":16.900665867546792,"prior20":2342.6535,"signal":false,"adr20":142.496714619775,"zero_volume_days":10} https://runway.adityaperswal.workers.dev/data/crypto-bars ; https://alpaca.markets/support/what-cryptocurrencies-does-alpaca-currently-support

Measured Sep5 02UTC; primary venue bars fully paginated Sep2024-Sep4. Volume=sum(v*vw), 7 completed UTC days, not global volume or verified account tradability. {"symbol":"LDO/USD","n":200,"date":"2026-09-04T00:00:00Z","close":0.38638,"vol7":755.6104878352221,"vol1":554.2877526874828,"ret1":-2.1530482523893224,"ret20":29.700153573736365,"prior20":0.4005395,"signal":false,"adr20":0.028648303524999995,"zero_volume_days":8} https://runway.adityaperswal.workers.dev/data/crypto-bars ; https://alpaca.markets/support/what-cryptocurrencies-does-alpaca-currently-support