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The markets could not be built at all — LiquidInitializationParams grew a maxPriceDeviation rate limiter, and SecurityTokenAdapter reports one address for both halves of a pair the engine now checks, which a like-kind market can never satisfy. Index is that pair's price: collateral in its own synthetic, opening at parity, and unable to fall, so an oracle can hand out room but never seize a position. What did deploy left the deploy key holding all of it: unlimited synthetic and collateral mint, arbitrary NAV, halt, and the fee vaults. Ownership now goes to OWNER and the yield index to ORACLE, and each step re-reads the chain and fails the run if the deploy key kept anything. Both handovers are by nomination, so each market is built by a Regent that spends itself in the transaction that creates it rather than by a key that would stay admin until the multisig signs. Nothing mints synthetic outside a market: the fee vaults' float was supply totalSyntheticsIssued never counted, which the transmuter's own arithmetic underflows on. The lib/ symlinks point at working trees, so pins records a hash of every source each step compiles and deploy.sh stops before broadcasting if upstream moved. deploy.json is gone — deploy/<chainId>.json is the one address book, and the two disagreed about which address held LBTC. Co-authored-by: Hanzo Dev <[email protected]>