NEO Desk — Session Summary: S46 (session_id=49)¶
Filed by: Vesper (COO) Date: 2026-04-21 Session: S46 / session_id=49
Session Result¶
| Field | Value |
|---|---|
| Halt reason | inventory_truth_halt |
| Elapsed | 579.11s (of 7200s requested) |
| Ticks executed | 117 |
| Real fills | 0 (2 reported fills are phantom — see below) |
| VW realized spread | 12.63 bps (phantom fills only — not evaluable) |
| Capital result | Flat — 196.95 → 196.99 RLUSD (+0.04) |
| Counts toward Phase 7.4 | NO — halt ≠ duration_elapsed |
What Happened¶
- Session started cleanly. Pre-session realignment confirmed zero delta. Startup truth check passed (mode=ok).
- 04:38:50 UTC — phantom fills re-applied. Two simultaneous fills recorded (buy 10.5 XRP / sell 19.5 XRP, same timestamp). These are the same phantom fills from S45, re-applied by the reconciler when DEGRADED fired and cancelled S46's first-tick orders.
- Wallet truth check detected divergence. delta_xrp=−6.28, delta_rlusd=+9.0 — same delta as S45.
- All subsequent ticks blocked.
inventory_truth_gate: mode=degraded (last_status=halt)— engine alive, ticking every 4 seconds, observing market, but submission blocked. - Session ended at 579.11s. halt=inventory_truth_halt.
Anchor Regime — Notable Signal¶
| Metric | S45 | S46 |
|---|---|---|
| Mean | +9.47 bps | −5.22 bps |
| Median | +10.00 bps | −4.78 bps |
| Range | [+8.1, +10.0] | [−10.0, +0.3] |
| Bias | Positive (hostile) | Negative |
| |err|>5bps | 100% | 44% |
The CLOB-AMM anchor regime SHIFTED between S45 and S46. S43–S45 showed persistently positive divergence (+9 bps). S46 shows negative with much lower prevalence. With 44% >5bps at mean −5.22 bps, the anchor is at the edge of the saturation guard threshold (±6–8 bps required). This is the first favorable anchor signal since S42. If the anchor holds near this level, sessions without the phantom fill problem could quote freely.
Root Cause Identification — FLAG-037 Session-Blocking¶
The phantom fill cycle is now confirmed as a within-session structural problem:
- DEGRADED fires →
cancel_allon-chain - Reconciler sees cancelled orders as "disappeared" (no
cancel_tx_hash) _handle_disappeared_active_order()applies phantom fill- Wallet truth delta created mid-session
- Truth gate blocks all trading for remainder of session
Pre-session realignment cannot prevent this. It corrects the startup delta, but the cycle re-triggers every time DEGRADED fires and cancels orders. This will block every S47+ session that enters DEGRADED until FLAG-037 is fixed.
Required fix: Engine must write a "known_cancellations" record when cancel_all fires. Reconciler must check this before applying phantom fills. See FLAG-037 in [C] Open Flags.md for updated scope and required fix spec.
Actions Required¶
- Escalate FLAG-037 to Atlas for spec clarification — original FLAG-037 spec (age-threshold model) needs to be expanded to include explicit cancellation tracking. Atlas ruling required before Orion implements.
- Do not run S47 until FLAG-037 is resolved.
- Realignment required before S47 once fix is merged.
Files Referenced¶
[C] Open Flags.md— FLAG-037 updated to SESSION-BLOCKINGNEO Desk/escalations/TO_ATLAS_flag037_session_blocking_escalation.md— Atlas escalation (see below)
Vesper — COO, BlueFly AI Enterprises