> For the complete documentation index, see [llms.txt](https://learn.trovemarkets.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://learn.trovemarkets.com/risk/anti-manipulation.md).

# Anti-manipulation

{% content-ref url="/pages/Zmble33xVltA1xn72lQ0" %}
[OI caps](/risk/anti-manipulation/oi-caps.md)
{% endcontent-ref %}

{% content-ref url="/pages/Z9fFo1kFt1AEEt6cd7ya" %}
[Circuit breakers](/risk/anti-manipulation/circuit-breakers.md)
{% endcontent-ref %}

### Overview

| Item                            | Setting                                                          | Purpose                                              |
| ------------------------------- | ---------------------------------------------------------------- | ---------------------------------------------------- |
| **Leverage**                    | **Fixed 1×–5×**                                                  | Simple, predictable; no size-based taper in Beta     |
| **Notional OI cap (per asset)** | **$1,000,000** (initial)                                         | Blocks new opens once cap is hit                     |
| **Size OI cap (per asset)**     | **1,000,000,000** base units                                     | With `szDecimals=2` → **10,000,000** units effective |
| **Daily price limit**           | **±10×** from start-of-day                                       | Blocks absurd prints/outliers                        |
| **Per-update mark bound**       | **±1%** per \~**3s** update                                      | Smooths path; prevents step jumps                    |
| **OI-adjusted bound**           | Mark cannot jump to a level that would exceed **10×** the OI cap | Prevents cascade/liquidation spirals                 |
| **Emergency halt**              | `haltTrading` by admins                                          | Pause a market in extremes                           |
| **Oracle safeguards**           | Staleness/deviation handling; funding attenuation                | Keeps pricing robust when feeds are impaired         |

***

#### Trading state controls

| State       | What triggers it                                                    | What users see                                           |
| ----------- | ------------------------------------------------------------------- | -------------------------------------------------------- |
| **Normal**  | All feeds healthy; depth adequate                                   | Full trading                                             |
| **Guarded** | Large Mark–Oracle divergence, shallow depth, or validator staleness | May dampen funding, widen checks, or limit certain opens |
| **Halted**  | Extreme conditions (e.g., feed outage, disorderly prints)           | New opens paused; risk reduced until normal resumes      |

***

### What traders will notice

* New opens rejected when OI caps are reached (you can still reduce/close).
* Smoother price paths (no huge single-tick jumps) due to per-update bounds.
* Occasional guarded mode around events or feed issues (visible on the dashboard).
* Clear halts in extreme conditions, announced in-app and on social.

***

### Operator actions (how issues are handled)

* Adjust OI caps 
  * upward after markets stabilize and depth grows.
* Toggle guarded mode
  *  automatically when deviation/staleness signals fire.
* Invoke `haltTrading` 
  * to pause a market during severe anomalies, then resume once conditions normalize.
* Publish changes 
  * (cap updates, status transitions) in Release Notes and the dashboard.


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