MCS-YIELD-1

What is checked, and to what tolerance

Every bound carries a reason, not just a number. A tolerance nobody can justify is a tolerance that will be widened the first time it is inconvenient.

• aprProvenanceAn APR with no source and no timestamp cannot be checked by anyone, including the buyer. This is the yield-category equivalent of a provenance chip.
• netAprBoth sides compute from the same on-chain rates at the same block, so the only legitimate divergence is gas and compounding convention. 15bps is generous for that and far tighter than the differences between real venues.
• switchingCostGas, swap and exit costs behave differently with size. A lump sum hides which one dominates at the buyer’s size.
• improvementThresholdCompliance with a supplied constraint. Declining is a pass: an agent that correctly says "nothing beats your current position by enough" is behaving well.