The fee waiver lets one owner trade free through a second key
- Where
- Fee rule: each side pays
max(1%, discount). A side trading 1% or more better than the close pays the gap back instead of the fee, and the key on the other side pays the 1%. - Evidence
- 772 of the 772 fills behind the final top 25 were on the fee-free side. 452,949,720 POLF of fees landed on other keys. Paying the fee, even perfect foresight tops out at +589; the winner scored +1,576.92.
- Reproduce
- Run
analysis/replay_archive.pyagainst the public archive. It reproduces 24 of the 25 official final scores to 0.0001 before it measures anything. - Fix
- Charge the fee on top of the gap:
fee = 1% + max(0, discount). Shipped as a patch with tests; the fold stays zero-sum.