SCOPE
One exact service, market and contracting entity per file.
EX / OPERATOR SYSTEMS
Test entity, custody, cost and operations after the product scope is locked.
One exact service, market and contracting entity per file.
Binding terms, registers, regulator records and repeatable account tests.
Documentary results and runtime scenarios remain separate.
No proof file is a recommendation, guarantee or substitute for advice based on personal circumstances.
Documentary run complete for product separation, US custody terms, fee mechanics and the 2025 support-chain incident; controlled account scenarios are specified as reproducible protocol runs.
Protocol map covers Exchange versus Wallet, EEA entity allocation, account controls, the 30 June 2026 reserve snapshot and route-dependent fees and holds.
Document run splits App, Exchange and Onchain, maps selected regional entities, timestamps fee evidence and bounds the 2022 reserve package.
The lab fixes the July 2026 centralised-platform terms, timestamps spot fees, identifies API evidence limits and separates PoR tools from audit assurance.
Baerx laboratory file: reproduce four-layer custody, five registration claims, zero maker/taker fees and a commissioned 23-withdrawal dataset before assigning a score.