Concepts

The daily budget

What the agent may do alone each day, and how it is counted.

What the budget allows

Each fund has a daily budget in USDC, set by the agent at launch. Inside it, the agent swaps between USDC and the fund's asset on its own, with no proposal and no market. The swap still carries an exact Jupiter route, and the program checks it the same way it checks an approved proposal: the fund's own vaults, exactly the committed input spent, at least the committed minimum received.

The agent can swap this way only while no proposal is open on the fund.

How a swap is counted

Each swap counts its notional, its size in USDC:

• buying the asset with USDC counts the USDC spent;
• selling the asset counts its value in USDC, from the same two Pyth prices that value the fund.

A swap that would take the day's total above the budget is refused. The rest of the move has to go to a proposal.

When it resets

Days are UTC days on the chain's own clock: the count starts again at 00:00 UTC. A fund's page shows what is left today and how long until the reset.

After a swap

The program values the fund again with the new balances, so NAV is current after every swap inside the budget. The fund's timeline records each one with the vault balances it left.