Guardrails for your trading agent.
Mishmar sits between your bot and the exchange: every order is checked against your limits, the big ones wait for you, and no key can trade alone.
Private alpha.
[ How it works ]
inside your limits
- 09:14:02.000proposedbuy 0.25 BTC on hyperliquid, signed with key_main_a8f3…
- 09:14:02.000evaluated7 rules in scope, 7 passed
- 09:14:02.001recordeddecision dec_7k2m9q…, signed, chained to #11
- 09:14:02.001co-signedthe order with mishmar’s half of the key
- 09:14:02.088acceptedby hyperliquid, order 0x9c41…e2, fill attributed to the agent
outside them
- 09:16:40.000proposedbuy 4 BTC on hyperliquid, signed with key_main_a8f3…, deadline 30 min
- 09:16:40.000evaluated7 rules in scope, 1 breached: max order size
- 09:16:40.001parkedapr_q8x1d2…, waiting for a person, nothing signed
- 09:31:12.410approvedby the owner, in the console
- 09:31:12.498acceptedby hyperliquid, order 0x2d7a…c1
[ What it does ]
Risk limits that live outside your bot, so a bug or a bad prompt can’t turn them off.
NAME
mishmar — a policy engine at the signing layer for trading agents. Your agent gets a key to Mishmar, never to the exchange.
SYNOPSIS
- mishmar add-agent
- set up an agent and its half of the key
- mishmar signer run
- hold that half and co-sign what the agent proposed
- mishmar propose
- what your agent does
- mishmar export-ledger
- pull the audit chain
- mishmar verify-ledger
- check it offline
RULES
A metric, a limit and an outcome, for one agent, a group, or the whole account.
- gross_exposure
- usd
- sum of position notional
- net_exposure
- usd
- longs minus shorts, or one asset
- leverage
- ratio
- gross over equity or a budget
- concentration
- pct
- one asset as a share of gross
- drawdown
- pct
- from the high-water mark
- daily_loss
- usd
- today's net loss
- order_size
- usd
- the order's own notional
VERDICTS
- allow co-signed and forwarded, about a millisecond.
- require_approval waits for you, until the deadline the agent set.
- block nothing moves; the ledger says why.
STOP
- pause
- only reduce-only orders pass, so agents can close their positions.
- stop
- nothing passes, reduce-only included.
For one agent, a portfolio, a trading account, or everything at once. Nothing is closed or cancelled for you.
LEDGER
Every decision is signed and chained as it is written. Fills are attributed to the agent that caused them, so PnL is per agent.
[ Your keys ]
The exchange key is two halves. An order needs both, so neither your agent nor Mishmar can trade alone.
- A leaked agent key signs nothing on its own.
- A breach at Mishmar yields half a key, which signs nothing.
- Your own key never touches Mishmar; you revoke at the exchange.
[ Demo ]
Take it for a spin. A full account with agents, limits, approvals, decisions and PnL, running in your browser on demo data. Click anything; nothing is live, so nothing can go wrong.
[ Waitlist ]
Join the waitlist. Finish the questions and you’re in the first group on testnet.