Observability

Data Disclosure Principles

All critical operations are recorded via on-chain events, accessible for public query and verification:

• Deposits

• Redemption requests

• Redemption settlements

• Queue updates

• NAV updates

• Protection band triggers

Launchpad Disclosure Requirements

Minimum disclosure requirements by asset class:

Asset Type	Disclosure Frequency	Required Fields
RWA	Monthly	Valuation, Cash Flow, Significant Events
Private Equity	Quarterly	Valuation, Milestones, Funding Updates
Private Equity Funds	Quarterly	NAV, Distributions, Portfolio Changes

On-Chain Events

The full event surface is the canonical telemetry of Paimon protocols — every event below is emitted by a deployed contract. Tranche / Protection-Band / Gauge events are not emitted because the corresponding contracts are not deployed.

Prime Vault (PPT)

event Deposit(address indexed sender, address indexed owner, uint256 assets, uint256 shares);
event SharesLocked(address indexed owner, uint256 shares);
event SharesUnlocked(address indexed owner, uint256 shares);
event SharesBurned(address indexed owner, uint256 shares);
event SelfBurn(address indexed owner, uint256 shares);
event RedemptionFeeAdded(uint256 fee);
event RedemptionFeeReduced(uint256 fee);
event EmergencyQuotaRefreshed(uint256 amount);
event EmergencyQuotaRestored(uint256 amount);
event EmergencyQuotaReduced(uint256 amount);
event RedemptionLiabilityAdded(uint256 amount);
event RedemptionLiabilityRemoved(uint256 amount);
event LockedMintAssetsReset(uint256 oldAmount);
event AssetControllerUpdated(address indexed oldController, address indexed newController);
event RedemptionManagerUpdated(address indexed oldManager, address indexed newManager);
event StandardQuotaRatioUpdated(uint256 oldRatio, uint256 newRatio);
event PendingApprovalSharesAdded(address indexed owner, uint256 shares);
event PendingApprovalSharesRemoved(address indexed owner, uint256 shares);
event PendingApprovalSharesConverted(address indexed owner, uint256 shares);
event PPTUpgraded(address indexed newImplementation, uint256 timestamp, uint256 blockNumber);

Redemption Manager

event RedemptionRequested(uint256 indexed requestId, address indexed user, uint256 shares, uint8 channel);
event RedemptionApproved(uint256 indexed requestId, address indexed approver);
event RedemptionRejected(uint256 indexed requestId, address indexed rejecter, string reason);
event RedemptionSettled(uint256 indexed requestId, address indexed user, uint256 assets, uint256 fee);
event RedemptionCancelled(uint256 indexed requestId, address indexed user);

Asset Controller

event GrossValueUpdated(uint256 oldValue, uint256 newValue);
event DelayedSettlementCreated(uint256 indexed id, uint8 settlementType, uint256 amount);
event DelayedSettlementExecuted(uint256 indexed id);

Pre-IPO SPV — EIP-3643 Token (pSPCX)

event Transfer(address indexed from, address indexed to, uint256 value);
event Approval(address indexed owner, address indexed spender, uint256 value);
event Paused(address indexed agent);
event Unpaused(address indexed agent);
event AddressFrozen(address indexed userAddress, bool isFrozen, address indexed agent);
event TokensFrozen(address indexed userAddress, uint256 amount);
event TokensUnfrozen(address indexed userAddress, uint256 amount);
event KYCProviderSet(address indexed kycProvider);

Pre-IPO SPV — TokenBridge

event PairCreated(address indexed securityToken, address indexed shadowToken, uint256 ratio);
event Deposited(address indexed shadowToken, address indexed user, uint256 securityAmount, uint256 shadowMinted);
event Redeemed(address indexed shadowToken, address indexed user, uint256 shadowBurned, uint256 securityReleased);
event KYCProviderSet(address indexed kycProvider);

Launchpad (LaunchpadDrop V4)

event DropCreated(uint256 indexed dropId, address indexed rwaToken, uint256 totalSupply, uint256 basePrice);
event LayerConfigUpdated(uint256 indexed dropId, uint256 indexed layerIdx, /* … fields … */);
event PhaseAdvanced(uint256 indexed dropId, uint8 oldPhase, uint8 newPhase);
event Committed(uint256 indexed dropId, uint256 indexed layerIdx, address indexed user, uint256 pointsReserved, uint256 usdtAmount);
event LayerSettled(uint256 indexed dropId, uint256 indexed layerIdx, /* … */);
event AllocationClaimed(uint256 indexed dropId, uint256 indexed layerIdx, address indexed user, uint256 rwaAmount, uint256 usdtSettled);
event Refunded(uint256 indexed dropId, uint256 indexed layerIdx, address indexed user, uint256 usdtReturned);
event RefundWindowClosed(uint256 indexed dropId, uint256 indexed layerIdx);
event SettlementFinalized(uint256 indexed dropId);

Soulbound Badges

event BadgeMinted(address indexed user, uint8 badgeType, uint256 indexed dropId, uint64 mintTime);

Points

// PointsHubV2
event ModuleRegistered(address indexed module, string name, uint256 moduleIndex);
event RewardAdded(address indexed user, uint256 amount, bytes32 reason);
event PointsDeducted(address indexed user, uint256 amount, bytes32 reason);

// StakingModule
event Staked(address indexed user, uint256 indexed stakeId, uint256 amount, uint8 stakeType, uint64 lockEndTime);
event Unstaked(address indexed user, uint256 indexed stakeId, uint256 amount, uint256 penalty);
event PointsAccrued(address indexed user, uint256 indexed stakeId, uint256 amount);

Dashboard Metrics

Real-Time Metrics

Metric	Update Frequency	Source
PP Total Supply	Per block	Prime Vault
NAV	Weekly (minimum)	Oracle + Audit
DEX Price (P_mkt)	Per block	DEX Pool
Deviation (D_t)	Per block	Calculated
L1 Budget Utilization	Per block	Prime Vault
L2 Budget Utilization	Per block	Prime Vault
Queue Depth	Per block	Redemption Queue

Weekly Reports

Automated weekly report includes:

1. Supply Metrics

   • Total PP supply

   • pSPCX locked in TokenBridge / xSPCX outstanding (per pair)

   • Active drops, total committed USDT, settled vs refunded

2. Liquidity Metrics

   • L1/L2/L3 budget utilization

   • Queue depth and estimated wait times

   • DEX depth and volume

3. Price Metrics

   • NAV history

   • P_mkt history

   • Deviation (D_t) history

   • Protection band events

4. Emission Metrics

   • Weekly emission amount

   • Channel allocation breakdown

   • Unused budget returned

5. Governance Metrics

   • Gauge weights

   • vePAIMON distribution

   • Proposal activity

API Access

Public Endpoints

Endpoint	Description	Rate Limit
/api/v1/nav	Current NAV and history	100/min
/api/v1/liquidity	Budget utilization	100/min
/api/v1/queue	Queue status	100/min
/api/v1/emissions	Emission schedule	60/min
/api/v1/gauges	Gauge weights	60/min

Data Formats

All endpoints return JSON with consistent structure:

{
  "success": true,
  "timestamp": 1704067200,
  "data": { ... }
}

Subgraph (The Graph)

A public subgraph indexes all on-chain events for historical queries:

Example Queries

Get historical NAV:

query {
  navUpdates(first: 100, orderBy: timestamp, orderDirection: desc) {
    timestamp
    oldNAV
    newNAV
    blockNumber
  }
}

Get redemption activity:

query {
  redemptions(where: { user: "0x..." }) {
    channel
    shares
    assets
    fee
    timestamp
  }
}

Alerting System

Public Alerts

Users can subscribe to alerts for:

Alert Type	Trigger	Channel
Protection Band	D_t approaches 15%	Discord, Telegram
High Queue Depth	Queue > 10% of TVL	Discord, Telegram
NAV Update	New NAV published	Discord, Telegram
Governance	New proposal created	Discord, Telegram

Risk Committee Alerts

Internal alerts with higher urgency:

Alert Type	Trigger	Response
Critical	D_t > 12%	Immediate review
Emergency	D_t > 15%	Emergency meeting
Audit Delay	NAV update > 14 days late	Escalation
Budget Crisis	L1 + L2 > 90%	Contingency activation

Audit Trail

Immutable Records

All critical decisions are recorded immutably:

• Governance proposals and votes

• Multi-sig transactions

• Parameter changes

• Emergency actions

Access Logs

• API access logged (anonymized)

• Contract interactions indexed

• Admin actions recorded

Third-Party Integrations

Oracle Providers

The protocol utilizes multiple oracle sources to ensure data reliability and manipulation resistance:

• Price Feeds: Aggregated from leading oracle providers with multi-source verification

• NAV Verification: Cross-validated against custodian reports and on-chain data

• Fallback Mechanisms: Manual override capability via multi-sig for emergency situations

Infrastructure Partners

The protocol leverages battle-tested infrastructure:

• Indexing: The Graph protocol for historical data queries

• Monitoring: Real-time alerting via Discord and Telegram integrations

• Dashboard: Self-hosted analytics with public API access

Specific provider details will be announced closer to mainnet launch.

Transparency Commitments

1. No hidden data: All material information is publicly accessible

2. Real-time updates: Critical metrics update per block

3. Historical access: Full history available via subgraph

4. Open API: Anyone can query protocol data

5. Regular reporting: Weekly automated reports published