hey @toly went deep on percolator's A/K. the equal per-unit haircut is clearly the right call vs an ADL queue (no one singled out, O(1), self-healing).
one thing it leaves on the table: equal treats a reckless 20x account and a careful one identically when socializing a deficit. we're building a bounded risk-weight into @synthatic_trade that prices that difference reckless flow absorbs a larger share, genuine traders less while still summing to exactly the deficit and never singling anyone out.
happy to share the mechanism if it's interesting.
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