{
  "name": "haircut",
  "what": "FTSO publishes the price. haircut publishes whether that price is reachable.",
  "subject": "FAssets agent collateral on Flare, measured against what SparkDEX would actually pay for it.",
  "audience": "Collateral pool providers holding CPT, and anyone deciding whether a liquidation would be profitable.",
  "evidence": "Every fact is measured, absent, or unmeasured. Unmeasured never becomes data.",
  "endpoints": {
    "/latest": "the most recent reading",
    "/history?hours=24": "the tape",
    "/agents": "per-agent marked and repriced collateral ratios",
    "/health": "liveness and tape freshness"
  },
  "licence": "MIT"
}