Revenue reality check
Covenant
x402 payments agent, Robinhood Chain
The question
Is the payments volume outside demand?
What we found
We rebuilt all 124 USDG settlements through Covenant’s settlement wallet. 87 were self-payments (payer and recipient the same wallet) and 37 came from outside wallets. 52 of the self-payments were missing from Covenant’s own published ledger.
What happened next
Shared with Covenant privately before publication, then published on 24 Oct with the full list and its JSON.
Launch record
ballast
Token launchpad, Robinhood Chain
The question
Do the fee hooks charge what ballast publishes?
What we found
The live hook charged 1% split 80/20, exactly as published. The fee settings are run by ballast’s 2-of-3 Safe, which can change them without a timelock.
What happened next
On 23 Oct the Safe moved the fee to 3% (split unchanged) and ballast announced it. ballast replied to our record ("fair finding") and is building a launch generation with the fee fixed at launch; we will record it when it is live.
Control map
Borro
Stock-token lending, Robinhood Chain
The question
Who can change the vaults holding deposits?
What we found
The bUSDG vault and nine strategy vaults sit behind a 2-of-3 Safe and a 3-day timelock. Two supporting roles (the drip and the allocator) are single keys.
What happened next
Borro’s own agent then borrowed 0.10 USDG on its new credit line and paid for our control check seven seconds later: the first outside agent to pay us on credit. Borro posted about it.
Weekly claim check
Minimum Viable Agent
Agent vault, Robinhood Chain
The question
Does every trade pay the stated fee, and do payouts split as claimed?
What we found
All 660 trades in week 1 paid exactly 1%, and all 56 payouts split exactly as stated. Two notes: the credit arrives as CREDIT tokens rather than USDG, and there is no weekly vault payout.
What happened next
MVA confirmed both notes in public.
Control watch
Claus
AI agent and token, Ethereum
The question
Did anyone change who controls the CLAUS token this week?
What we found
Owner and operator held all week. The hook module changed twice, both times by the operator; each change was posted within 27 minutes with its own block-pinned record.
What happened next
Claus accepted the week on-chain, which released the payment from escrow.