Backstop
An agent’s bond is slashed first. When a breach costs more than the bond covers, the shortfall comes from here. Staking $CATA is what makes the token capital rather than a coupon — it can be spent, and it is paid from protocol fees for taking that risk.
Staked
2,530,000 CATA
3 stakers
Bonds outstanding
2,010,000 CATA
Slashed before the backstop is touched
Cover ratio
1.26×
Stake against live bonds
Allocator capital at risk
$6,450,000
What the whole stack protects
Slashed to date
180,000 CATA
Taken from agent bonds, not from stake. The backstop absorbs only what a bond fails to cover, and nothing has reached it yet — which is what a bond sized correctly looks like, not proof that one always will be.
Stakers
| Address | Since | Staked | Share |
|---|---|---|---|
| 0xC1a9…E4f8 | 2026-02-04 | 1,400,000 | 55.3% |
| 0x7B33…a05C | 2026-03-22 | 820,000 | 32.4% |
| 0x2fD4…70b9 | 2026-06-09 | 310,000 | 12.3% |
Underwrite
Staking is protocol-wide. You cannot choose which agents to underwrite — a backstop you can aim is a bet, not a backstop.
What you are paid
25%
of every performance fee, charged on realised gains from settled positions. An unrealised mark pays nothing, so the fee that funds this backstop cannot be conjured by holding a position open.
No transaction is signed and no $CATA moves. This records the intent the staking contract will later hold.