April 8 — inception, Protocol v4. $200k paper, five regime sleeves selected from the full taxonomy, three-state framework (Bull / Chop / Crisis→Bear).
June — v5 and the freeze. 31 rules frozen after the June stress cycle; the discipline layer (hard triggers, majority clusters, drawdown line) written in public.
June–August — the stress test. Rate-driven drawdowns closed at or below the −8% mandatory line eighteen times, grinding to a trough of −16.16% on July 30 ($200,463 — within $500 of inception) with credit flat throughout, then recovered fully. Zero forced de-risks; every hold vindicated. The most valuable dataset the program ever generated — and, on the full-series audit performed at closure, deeper than the −12.98% the September 8 session reported from a partial filter. The record wins; the correction is logged.
September 8 — v5.2. The evidence forced the revision: the drawdown rule rebuilt as a confirmed-close graduated ladder, the universe reopened in read-mode (Regime Rotation Scan), a silver sleeve activated by the inaugural scan, the standing-hedge policy codified, the error ledger written into law.
September 10–11 — the gate fires. After months at the door, the US 10-year real yield closed above 2.50% two sessions running (2.54, 2.58) on a hot CPI, with Brent through $100. The hardest line in the framework triggered exactly as written: GLD exited by rule, all deployment frozen.
September 14 — closure. The framework graduates to real capital: $1M across two envelopes, starting life 100% liquid by rule — the freeze fired before the first real tranche ever did. The paper book closes at +12.76%, its final act a mechanical hard-trigger exit. No better proof of concept exists than a system that put its operator fully in cash the week the wall broke.