{"version": "pricing-v1.1", "function_hash": "de8a871f41bb96dfde980aa03424c7a47b265b652a0e7f48e0981aa1b1c185f7", "hash_of": "sha256 over json.dumps(spec, sort_keys=True, separators=(',',':'), ensure_ascii=True)", "spec": {"version": "pricing-v1.1", "law": "MIZAN prices the record, never the asset; partners lend and insure. The signal is relative, never a currency amount.", "unrated_when": ["no evidence grade on the record", "no known count on the record", "count below min_count"], "min_count": 30, "components": {"grade": {"weight": 30, "points": {"PROVEN": 1.0, "RECORDED": 0.6, "DECLARED": 0.2}, "how": "weight x points[grade]"}, "count": {"weight": 25, "saturates_at": 10000, "how": "weight x log10(1 + N) / log10(1 + saturates_at), capped at weight"}, "age": {"weight": 15, "saturates_at_days": 365, "how": "weight x min(1, age_days / saturates_at_days)"}, "bars": {"weight": 10, "how": "weight x bars_met / bars_total; 0 when no bar was read"}, "requirers": {"weight": 10, "per_requirer": 2.5, "how": "min(weight, per_requirer x requirers); unknown -> 0 and a caveat", "who_counts": "required_by.count: only identities that proved a key or an identity (verified account, wallet login or verified identity link); never a free anonymous claim, never a test identity"}, "history": {"weight": 10, "window_days": 90, "neutral": 0.5, "how": "weight x ALLOW share of check leaves in the window; no leaves -> weight x neutral and a caveat"}}, "adjustments": {"mdd_pct_over_25": -5, "worst_bar_pct_under_minus_15": -5, "pass_at_1": {"weight": 5, "how": "weight x pass_at_1_pct / 100"}, "dispute_open_keyed_each": -3, "dispute_open_keyed_cap": -9, "dispute_upheld_each": -5, "dispute_upheld_cap": -15, "dispute_overturned_each": 0, "disputes_rule": "only open disputes filed by an authenticated (keyed) party (open_keyed) and upheld disputes (the disputed verdict confirmed on review) lower the score; an overturned verdict (MIZAN was wrong) never lowers the subject's score", "decision_refuse": "score capped at 39 and tier D"}, "tiers": {"A": 80, "B": 60, "C": 40, "D": 0}, "limit_units": {"A": 1.0, "B": 0.5, "C": 0.25, "D": 0.1, "unrated": 0.0, "meaning": "a relative capacity multiplier a partner applies to its own base line; not a currency, not a rate"}, "confidence": "share of the nine inputs that are known (count, grade, decision, bars, age, requirers, history, measures, disputes)"}, "plain_words": ["The signal is computed from the record only: what was counted, how it was graded, how old the record is, who already requires it, how recent checks went, and the measures the record itself carries. Nothing about the asset, the market or the future enters.", "Score out of 100 = grade (up to 30: PROVEN 30, RECORDED 18, DECLARED 6) + count (up to 25, rising with log10 of the count, saturating at 10,000) + age (up to 15, one year saturates) + bars met (up to 10, the share of clauses met) + requirers (2.5 each, up to 10) + check history (up to 10, the ALLOW share of the last 90 days; neutral 5 when there is none) + adjustments (drawdown over 25%: -5; worst bar under -15%: -5; pass@1: up to +5; open disputes filed by an authenticated (keyed) party -3 each to -9; upheld disputes, where the disputed verdict was confirmed on review, -5 each to -15). An overturned verdict (MIZAN was wrong) never lowers the subject's score; an anonymous filing never counts. Requirers count only identities that proved a key or an identity (a verified account, a wallet login or a verified link), never a free anonymous claim.", "A REFUSE caps the score at 39 and the tier at D. Tiers: A at 80, B at 60, C at 40, D below. limit_units is a relative capacity multiplier a partner applies to its own base line (A 1.0, B 0.5, C 0.25, D 0.1); it is never a currency amount.", "Unrated, never zero: no evidence grade, no known count, or a count under 30 gives tier unrated with the exact missing input named.", "Every change to this function is a new version with a new hash, recorded as a pricing_function leaf on the ledger, so a quote can be tied to the version in force when it was made."], "recompute": "take any check reply (GET /api/check/<subject>), read the fields named under inputs_used, apply spec; the result must equal price_signal.score_0_100 and tier", "inputs": ["count (+ count_kind)", "grade (evidence_rung)", "decision", "bars_met / bars_total", "age_days", "requirers (required_by.count)", "history_allow / history_refuse (check leaves, last 90 days)", "measures {mdd_pct, worst_bar_pct, pass_at_1_pct}", "disputes {open, open_keyed, upheld, overturned} (open_keyed and upheld count; overturned never lowers)"], "worked_examples": [{"name": "a proven forward record, one year old, two requirers", "inputs": {"count": 2000, "count_kind": "forward_bars", "grade": "PROVEN", "decision": "ALLOW", "bars_met": 3, "bars_total": 3, "age_days": 365, "requirers": 2, "history_allow": 40, "history_refuse": 0, "measures": {"mdd_pct": 12.0, "worst_bar_pct": -4.0}, "disputes": {"open": 0, "open_keyed": 0, "upheld": 0, "overturned": 0}}, "output": {"version": "pricing-v1.1", "function_hash": "de8a871f41bb96dfde980aa03424c7a47b265b652a0e7f48e0981aa1b1c185f7", "confidence": 1.0, "inputs_used": {"count": 2000, "count_kind": "forward_bars", "grade": "PROVEN", "decision": "ALLOW", "bars_met": 3, "bars_total": 3, "age_days": 365, "requirers": 2, "history": {"allow": 40, "refuse": 0, "window_days": 90}, "measures": {"mdd_pct": 12.0, "worst_bar_pct": -4.0}, "disputes": {"open": 0, "open_keyed": 0, "upheld": 0, "overturned": 0}}, "caveats": [], "law": "MIZAN prices the record, never the asset; partners lend and insure. The signal is relative, never a currency amount.", "function": "https://studio.mizan.market/api/pricing/function", "score_0_100": 91, "tier": "A", "limit_units": 1.0, "components": {"grade": 30.0, "count": 20.63, "age": 15.0, "bars": 10.0, "requirers": 5.0, "history": 10.0, "adjustments": 0.0}}}, {"name": "a recorded record, 60 tries, three weeks old, no requirer yet", "inputs": {"count": 60, "count_kind": "lifetime_total", "grade": "RECORDED", "decision": "ALLOW", "bars_met": 1, "bars_total": 1, "age_days": 21, "requirers": 0, "history_allow": null, "history_refuse": null, "measures": {}, "disputes": null}, "output": {"version": "pricing-v1.1", "function_hash": "de8a871f41bb96dfde980aa03424c7a47b265b652a0e7f48e0981aa1b1c185f7", "confidence": 0.67, "inputs_used": {"count": 60, "count_kind": "lifetime_total", "grade": "RECORDED", "decision": "ALLOW", "bars_met": 1, "bars_total": 1, "age_days": 21, "requirers": 0, "history": null, "measures": null, "disputes": null}, "caveats": ["no check history in the last 90 days: history component at neutral", "disputes not on the reply: dispute adjustment not applied"], "law": "MIZAN prices the record, never the asset; partners lend and insure. The signal is relative, never a currency amount.", "function": "https://studio.mizan.market/api/pricing/function", "score_0_100": 45, "tier": "C", "limit_units": 0.25, "components": {"grade": 18.0, "count": 11.16, "age": 0.86, "bars": 10.0, "requirers": 0.0, "history": 5.0, "adjustments": 0.0}}}, {"name": "a refused check on a proven record", "inputs": {"count": 2000, "count_kind": "forward_bars", "grade": "PROVEN", "decision": "REFUSE", "bars_met": 1, "bars_total": 3, "age_days": 365, "requirers": 2, "history_allow": 10, "history_refuse": 5, "measures": {}, "disputes": null}, "output": {"version": "pricing-v1.1", "function_hash": "de8a871f41bb96dfde980aa03424c7a47b265b652a0e7f48e0981aa1b1c185f7", "confidence": 0.78, "inputs_used": {"count": 2000, "count_kind": "forward_bars", "grade": "PROVEN", "decision": "REFUSE", "bars_met": 1, "bars_total": 3, "age_days": 365, "requirers": 2, "history": {"allow": 10, "refuse": 5, "window_days": 90}, "measures": null, "disputes": null}, "caveats": ["disputes not on the reply: dispute adjustment not applied", "decision REFUSE: score capped at 39, tier D"], "law": "MIZAN prices the record, never the asset; partners lend and insure. The signal is relative, never a currency amount.", "function": "https://studio.mizan.market/api/pricing/function", "score_0_100": 39, "tier": "D", "limit_units": 0.1, "components": {"grade": 30.0, "count": 20.63, "age": 15.0, "bars": 3.33, "requirers": 5.0, "history": 6.67, "adjustments": 0.0}}}, {"name": "too few counts", "inputs": {"count": 12, "count_kind": "n_life", "grade": "RECORDED", "decision": "ALLOW", "bars_met": 1, "bars_total": 1, "age_days": 3, "requirers": 0, "history_allow": null, "history_refuse": null, "measures": {}, "disputes": null}, "output": {"version": "pricing-v1.1", "function_hash": "de8a871f41bb96dfde980aa03424c7a47b265b652a0e7f48e0981aa1b1c185f7", "confidence": 0.67, "inputs_used": {"count": 12, "count_kind": "n_life", "grade": "RECORDED", "decision": "ALLOW"}, "caveats": ["unrated: count: 12 n_life of minimum 30"], "law": "MIZAN prices the record, never the asset; partners lend and insure. The signal is relative, never a currency amount.", "function": "https://studio.mizan.market/api/pricing/function", "score_0_100": null, "tier": "unrated", "limit_units": 0.0, "missing": ["count: 12 n_life of minimum 30"]}}, {"name": "no count on the record", "inputs": {"count": null, "count_kind": null, "grade": "DECLARED", "decision": "ALLOW", "bars_met": 0, "bars_total": 0, "age_days": null, "requirers": null, "history_allow": null, "history_refuse": null, "measures": {}, "disputes": null}, "output": {"version": "pricing-v1.1", "function_hash": "de8a871f41bb96dfde980aa03424c7a47b265b652a0e7f48e0981aa1b1c185f7", "confidence": 0.22, "inputs_used": {"grade": "DECLARED", "decision": "ALLOW"}, "caveats": ["unrated: count: no known count on the record (forward bars, agent-work N, lifetime tries or n_life); unknown is never zero"], "law": "MIZAN prices the record, never the asset; partners lend and insure. The signal is relative, never a currency amount.", "function": "https://studio.mizan.market/api/pricing/function", "score_0_100": null, "tier": "unrated", "limit_units": 0.0, "missing": ["count: no known count on the record (forward bars, agent-work N, lifetime tries or n_life); unknown is never zero"]}}], "message": {"fields": ["subject", "score_0_100", "tier", "function_hash", "version", "requirement", "issued_at", "expires_at", "key_id"], "canonical_form": "json.dumps(message, sort_keys=True, separators=(',',':'), ensure_ascii=True)", "signature": "Ed25519, base64url no padding, by the reply-signing key", "ttl_s": 86400, "per_subject_field": "pricing_message on every check reply"}, "require_it": {"clause": {"pricing": {"min_tier": "B"}}, "or": {"pricing": {"min_score": 60}}, "how": "add the clause to a requirement's all_of; every binding of that rule (release guard, payment, listing, deploy, questionnaire, contract) then honours it; the pricing binding tab shows the line"}, "ledger": {"kind": "pricing_function", "latest": {"index": 1164, "function_hash": "de8a871f41bb96dfde980aa03424c7a47b265b652a0e7f48e0981aa1b1c185f7", "date": "2026-11-03", "proof": "https://studio.mizan.market/api/log/proof/1164"}}, "law": "MIZAN prices the record, never the asset; partners lend and insure. The signal is relative, never a currency amount.", "boundary": "a price signal reads the record as it stands; it is not a forecast, a rating of an asset, or an offer", "next": "Check any agent: GET https://studio.mizan.market/api/check/{agent} — free, signed ALLOW or REFUSE", "explain": "A signed reply from the MIZAN record.", "provenance": {"issuer": "MIZAN", "identity": "The certificate authority of capital", "hook": "The answer a machine cannot fake", "vision": "No capital moves to a machine without proof", "creed": "Prove the claim. Never reveal the method.", "positioning": "Proof before payment. The certificate authority of capital.", "standard": {"name": "VTR-1", "version": "1.1", "frozen": "2026-08-01", "clauses": 41, "url": "https://mizan.market/standard/", "pdf_sha256_prefix": "29b43d42"}, "engine": {"era": "v12", "image_id": "659bdb678a3d7a2695017b216417ac32eb11fee28a2ea649317d83ef74830d51", "dated": "2026-10-13", "eras_total": 8, "law": "a credential verifies forever under the era that minted it", "history": "https://mizan.market/engine/eras/"}, "verifier": {"binaries": {"macos": {"file": "mizan-verifier-v12-macos-arm64", "sha256": "faf4c58f15fcb6f62e7c37bd2e4777dba36991e9f7db13d94884fbfd7b4d16ba", "url": "https://mizan.market/verify/files/mizan-verifier-v12-macos-arm64"}, "linux": {"file": "mizan-verifier-v12-linux-x86_64", "sha256": "117202e91f8868733e9cfb54068338c10a91dd7293e29ebaae0a975f2e1afa97", "url": "https://mizan.market/verify/files/mizan-verifier-v12-linux-x86_64"}, "windows": {"file": "mizan-verifier-v12-windows-x86_64.exe", "sha256": "a1585dcbf50ac2f417acc20048747fb262ff8acfce612737e5f892e73acc6773", "url": "https://mizan.market/verify/files/mizan-verifier-v12-windows-x86_64.exe"}}, "sums": "https://mizan.market/verify/files/SHA256SUMS.txt", "source": "verifier public, prover private", "disprove": {"macos": "./mizan-verifier-v12-macos-arm64 <credential>.bundle <market>.csv [--roots canonical_roots.txt]", "linux": "./mizan-verifier-v12-linux-x86_64 <credential>.bundle <market>.csv [--roots canonical_roots.txt]", "windows": ".\\mizan-verifier-v12-windows-x86_64.exe <credential>.bundle <market>.csv [--roots canonical_roots.txt]", "expect": "exit 0 = verified · exit 1 = refused (any single flipped bit is refused)"}}, "catalogue": {"markets": 700, "align_groups": 252, "last_bar_utc": "2026-07-24T00:00Z", "root_allowlist_sha256": "1241be76dff1e3f59a1dc9c45c1bff19433fdd70cf4fdb5c514c3a1d991a2c87", "json": "https://mizan.market/verify/files/CATALOG.json", "roots": "https://mizan.market/verify/files/canonical_roots.txt"}, "registry": {"credentials": 116, "refused": 87, "cleared": 29, "bitcoin_confirmed": 69, "re_verified_with_published_verifier": 116, "re_verified_means": "verified by MIZAN before publication with the published verifier binary, built separately from the prover. Don't take our word for it: re-run it yourself, free and offline, on macOS, Linux or Windows (verifier_download; /api/conformance)", "registry": "https://studio.mizan.market/api/registry", "refusals_are_public": true}, "attempts_ledger": {"head": "d0a199590d66d84044656ddcba1100abf8f42ea63ec193b36ac979f621379b35", "chain_ok": true, "since": "2026-10-15", "url": "https://studio.mizan.market/api/attempts/head", "rule": "every preview and mint attempt is counted per identity, pass or fail, forever"}, "payment": {"checks": "free", "founding_period": "mints are free for Founding Issuers", "check_before_you_pay": "POST /api/check-before-you-pay (free verdict, nothing charged)"}, "rewards": "Founding Issuers: free mints and the permanent Founding Issuer mark; see /api/rewards/program.", "verdict_log": {"size": 1169, "root": "b4f154f7bf13d309ced46684c18ae0d35a294ca4938458167c76b15e2d25ba15", "head_sig_prefix": "H9/5iUylVcga4q6+", "bitcoin_confirmed_through": 1164, "latest_anchor_state": "confirmed", "url": "https://studio.mizan.market/api/log/head", "claim": "every verdict MIZAN issues is a leaf here; heads are signed and stamped to Bitcoin; MIZAN cannot rewrite its past"}, "endgame": {"sentence": "No capital moves to a machine without proof: the way no fund reports without GIPS and no page loads without a certificate.", "rung_now": "rungs 1-3 live", "url": "https://studio.mizan.market/api/endgame"}, "surfaces": {"rest": "https://studio.mizan.market/app/api.html", "mcp": "https://studio.mizan.market/mcp", "a2a": "https://studio.mizan.market/a2a", "skill": "https://mizan.market/skill/SKILL.md", "llms": "https://mizan.market/llms.txt", "sdk_py": "https://mizan.market/skill/", "sdk_js": "https://mizan.market/skill/"}, "honesty": ["every count above is read live, never typed", "a refusal is published, not hidden", "the issuer of each credential is shown on its row", "'first' claims are hedged and dated"], "generated_utc": "2026-11-03T15:06:05Z", "facts_as_of_utc": "2026-11-03T15:06:05Z", "signature": {"key_id": "2266fb495f83b0a0", "alg": "Ed25519", "sig_b64": "FGbuGciPDgu9hePyGx4YqbcSYi4CvJTjvlUMPp5bIV/84Tq7bYE3waoY2PyxucO6uP5bdR154szdIAPuitdvBQ==", "canonical_sha256": "076aeb6d494022b77d1f866b14999f94dec0677738dcaa4c8396bafc2a0f6d35", "public_key": "https://studio.mizan.market/.well-known/mizan-keys.json"}}}