Explore — no wallet needed
A live look at the protocol and a real on-chain position, read straight from the chain. When you're ready, the guided start opens your own in a few clicks — or just watch the AI rescue a position.
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Live market risk
Regime + the AI's protection bands right now.
Health factor is how safe a loan is — 1.00 is the liquidation line; higher is safer.
A real protected position
On-chain, read-only — view the wallet ↗
The demo position is between states right now — try the Live Drill to watch one move.
Drag the gap — watch the agent decide
No wallet, no spend. This runs the exact decision the live agent makes each tick (~10s), on the regime-aware bands.
Healthy. At a −35% gap your health factor is 1.19 — above the agent's act line (1.10). The agent watches, but doesn't need to do anything.
Same engine as the live agent (browser mirror of the regime logic). The act + restore lines widen automatically as gap risk rises — weekends and earnings move them up.
Does the AI actually protect you?
In 9 modeled overnight / weekend / earnings gaps, regime-aware protection avoided liquidation in 3 of the 4 cases that liquidated an unprotected position (75%).
Liquidations avoided
3 / 4
Of baseline liquidations
75%
Avg extra HF buffer
+0.45
| Modeled gap | Unprotected | Tessera (regime-aware) |
|---|---|---|
| AAPL · weekend −18% | safe HF 1.03 | safe HF 1.39 |
| TSLA · weekend −28% | liquidated HF 0.94 | saved ✓ HF 1.22 |
| SPY · weekend −9% | safe HF 1.09 | safe HF 1.55 |
| AAPL · overnight −12% | safe HF 1.04 | safe HF 1.36 |
| TSLA · overnight −22% | liquidated HF 0.94 | saved ✓ HF 1.21 |
| TSLA · earnings −20% | safe HF 1.04 | safe HF 1.48 |
| AAPL · earnings −10% | safe HF 1.22 | safe HF 1.67 |
| SPY · crash open −33% | liquidated HF 0.82 | saved ✓ HF 1.14 |
| TSLA · severe −45% | liquidated HF 0.69 | liquidated HF 0.94 |
A modeled result (not historical protocol performance), run through the same deterministic regime engine the live agent uses. Protection is not magic — a severe enough gap still liquidates a protected position, but always from a higher buffer (less bad debt). Reproduce + verify the number in CI: pnpm --filter @tessera/web test gap-backtest.