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LIMITATIONS: what is proved, what is simulated, what is not built

ArcSettle is milestone 1 of a grant proposal. This file states plainly what exists today so that no reader has to infer it. Nothing elsewhere in the repo contradicts it.

What is proved (on-chain, tested)

  • src/ArcSettlement.sol reverts any settlement that would push settled supply past the effective attested USDC reserves, reverts a stale attestation, and reverts a future-dated attestation. 36 Solidity tests pin these paths.
  • The redeem-then-resettle defence: redemption books pendingRedemptions and nets it off attested reserves until a new attestation (higher attestationId) observes the outflow. Deleting the defence turns test_RedeemThenResettleAgainstOldAttestationReverts red.
  • src/ReserveAttestationOracle.sol accepts a reserve figure only against a valid EIP-712 signature from a registered attestor, on-chain recovered, with replay, malleability, wrong-length, bad-v, backdated and future-dated all refused. 23 Solidity tests pin these.
  • The operator agent (arcsettle/) mirrors the same gate off-chain: 75 Python tests, each with a named Solidity counterpart where one exists.

What is simulated (a model, labelled as one)

  • The offline chain adapter (arcsettle/chain.py) is an in-process model of the deployed contract. It produces no transaction hashes and no block numbers, and its source field always reads offline-model so model numbers can never be mistaken for chain numbers.
  • ui/index.html is a browser simulation. It shows the contract's real event signatures, topic0 hashes and error selectors, and invents no transaction hashes.

What is NOT built, deployed, or measured (state plainly)

  • No mainnet deployment, and none planned under this grant. All work is Arc testnet only. As of today the contract is not deployed anywhere; the Arc deployment is milestone 2, not done here.
  • No live broadcast. Live mode in this repo is read-only: snapshot() and the settle dry-run are real eth_calls against a deployed contract, but broadcasting a signed settlement needs a funded Arc testnet key and a secp256k1 signer, which this repo does not ship. apply_settle in live mode raises LiveBroadcastUnavailable and says so. Building the broadcast path is milestone 3.
  • No Circle-primitive integration yet. CCTP, Wallets and Gateway are named in the roadmap (milestone 3 uses one for the signer/custody seam). None is wired in here.
  • No users. Zero. No pilot, no design partner, no waitlist.
  • No revenue and no business model beyond the grant.
  • No audit. No third-party security review has been performed on any of this code.
  • No partnership with Circle and no endorsement. This is grant-application work.
  • No live-chain test. The live-mode tests use a fake node; they pin request encoding and revert decoding, not a real Arc endpoint.