Kimia Protocol · Third-Order Corrections

Structural arbitrage elimination · Dynamic NAV haircut · Two-threshold insurance circuit breaker

CLICK any chart → animated data & detailed projections

PT Price at Maturity

click → arbitrage zone
Kimia v1.0 (x·yᵗ) crashes to 0.001 → 99.9% arb.
✅ YieldSpace (x¹⁻ᵗ + y¹⁻ᵗ = k) converges to $1 par. Click chart for exploitation analysis.

NAV Haircut · Volatility Stress

click → tail-risk protection
2nd-order cap: fixed 50 bps → ❌ unprotected at σ=80%.
3rd-order deterministic: expands to ~300 bps (3.0%) covering extreme moves.

Death Spiral vs Circuit Breaker

click → threshold simulation
Original: IF depletion → panic unwind → NAV collapse ( - 62% in hours).
✅ Two‑threshold: entry pause + exposure throttle → NAV stabilizes, insolvency avoided.