Allocator view. Everything below is re-derivable by you from the public bundle — no account, no NDA, no call with us. The manager grants nothing and reveals nothing. You are not being asked to believe anyone, including MIZAN.
MERIDIAN SYSTEMATIC · BOOK I
Issued to Meridian Research LLP · 11 alpha models · 1,284 instruments · strategy sealed
VTR-1 · LEVEL III · BOOKALLOCATOR-V1DISCLOSING TIERCHAIN · LINK 14
PASS
THE VERDICT IS A LAMP, NOT A DOOR
01 · THE HOLDER'S COMPLETE RECORD the denominator — opt-in, and permanent once chosenTHIS BUILD
37
Credentials ever minted
6
Passed the gate
31
Refused — published anyway
9
New commitments last 12 months
Every strategy this holder has ever submitted appears above, because the registry is append-only and each entry was anchored to Bitcoin on the day it was made. A holder cannot show you only their winners. This is the denominator allocators have never been able to obtain from any manager, database or administrator.
02 · WHAT WAS PROVEN committed before evaluation · recomputed in-circuit
05 · DID THEY TRADE WHAT THEY PROVED adherence — the committed spec against realised positionsLAYER 2
Realised vs committed rulestracking error 2.1%
Re-parameterisation events0 across 14 links
Position attestationprime broker, signed daily
Spec hash, link 1 → link 14identical
Undisclosed instruments tradednone detected
Coverage of live period98.6% of trading days
A gate can only ever judge a record. This section judges the behaviour that followed it — the committed specification re-checked against attested positions, so a holder who passes and then trades something else is visible rather than assumed honest.
06 · HOW IT COMPARES identical gate · identical costs · identical drawdown marking — so the comparison is realLAYER 3
91st
Percentile · deflated Sharpe, verified books
68th
Percentile · research velocity
84th
Percentile · breadth
412
Books in the comparison set
Every tearsheet in the industry uses its own conventions, so cross-manager comparison has never been honest. These percentiles are computed against books judged by the same hash-pinned gate, on the same cost treatment and the same intrabar drawdown marking. The comparison set is public and append-only; anyone can recompute the distribution themselves.
07 · AVAILABLE TO YOU, ON REQUEST neither side reveals anythingLAYER 3
Correlation to your own book, proven. Commit your portfolio's return series — it never leaves your machine and we never see it. The holder proves, in zero knowledge, that this book's correlation to yours sits below a threshold you choose. You learn whether it diversifies what you already own; the holder learns nothing about your portfolio; we learn nothing about either. The question that decides most allocations has never been askable without one side undressing. It is now.
08 · WHAT THIS REPLACES IN YOUR PROCESS and what it leaves exactly where it was
REMOVED — you no longer take these on trust
Reconstructing whether the record was computed honestly
Asking how many strategies were tried — and believing the answer
Re-running their numbers from files they chose to send you
Wondering whether costs, the out-of-sample split or the start date were set after the fact
Normalising their conventions against another manager's conventions
Taking research velocity from a questionnaire
UNCHANGED — still entirely your judgement
Capacity, crowding, and what happens after a real allocation
Whether they can manage a book at your size
Operational DD, custody, valuation policy, admin
Counterparty relationships and financing
Key person, team stability, incentives
Whether you want this exposure at all
This is a screen, not a decision. It removes one category of doubt completely and leaves every other category exactly where it was — which is the only honest claim a verification layer can make.
09 · WHAT YOU CAN DO FROM THIS PAGE none of it requires the manager's cooperation
VERIFY OFFLINE
Download the 231 KB bundle and re-check every number on your own machine in ~84 ms. No network, no account, no trust in us.
REQUEST CORRELATION
Prove this book's correlation to your portfolio below a threshold you set — without either side revealing anything.
FREE FORENSIC
Send the return series of any manager you are screening. We return their deflated Sharpe at N = 1, 10, 50, 200. Expect it to be unkind.
REQUIRE IT
One line in your diligence template: “track-record verification may be satisfied by a VTR-1 credential.” The spec is CC BY.
10 · WHAT THIS CREDENTIAL DOES NOT ASSERT
Crowding, capacity, the ability to manage the book at size, operational integrity, custody, valuation policy and counterparty competence are outside every proof system and outside this document, permanently. It does not predict returns and is not advice. It proves that the record is real, complete, and honestly measured — and then it stops. Anyone selling a credential that claims more is selling the thing this standard exists to refuse.
SHA-256 7f31c0d4…a8e2 · BITCOIN ANCHOR block 1,041,882
studio.mizan.market/credential/0412 · 231 KB · verifies offline in ~84 ms, trusting no one
ALLOCATOR-V1 gate policy hash-pinned · identical for every holder · VTR-1 conformance vectors public
ISSUED · VTR-1
MECHANISM LIVE TODAY: N, EXPOSURES, CHAIN, COSTS, OOS, SEALED PATHLAYER 1–2 BUILD: HOLDER RECORD, BREADTH, VELOCITY, BOOK TIER, REGIME & VOL, ADHERENCELAYER 3 — THE FRANCHISE: PERCENTILES (NEEDS VOLUME) · ZK CORRELATION (ENGINEERING)
Why this exists and what it is not. This page shows a complete ALLOCATOR-V1 credential as it will read when the gate class ships, so that implementers, allocators and quants can see the target rather than a description of it. The holder is fictional, the figures illustrate the format, and several fields cannot be issued today — the legend at the foot of the card marks each one as live now, pending a published engine era, or gated on the world. No credential on the public registry carries an unproven field, and none ever will; a specimen lives here, on a specification page, and nowhere near a credential URL. Field-by-field status: ALLOCATOR-V1 · the real wall: the registry.