Operator’s guide to SHADOW.

SHADOW records and ranks closed trades only. A wallet does not earn standing on the basis of a screenshot, a public leaderboard number, or an open position that has yet to resolve. The ledger that governs ranking is built from filled, exited, attributable trades.

Every wallet that influences SHADOW behaviour can be cross-checked against Hyperliquid's own public data. SHADOW does not rely on private self-reporting.

Public-facing surfaces (Hall of Fame, Wallet pages, Consensus Board) distinguish between two clearly labelled lanes: the curated roster (wallets that have cleared the profiler) and Scout Hall (wallets surfaced from public leaderboards but not yet profiled).

Wallets sit in one of four states. The tier governs execution authority inside SHADOW, not standing in any other sense.

• Tier 1. Highest execution authority. Cleared the profiler with a strong rolling-window record; allowed to seed copy signals subject to consensus checks.
• Tier 2. Solid track record; cleared the profiler at a slightly lower threshold. Can contribute to consensus signals.
• Tier 3. Provisional / promotion candidates. Visible but contributes minimally until promoted.
• Observatory (T4). Watched but not signal-producing. Wallets here are interesting for context but cannot move the cohort needle.

Tiers are a function of behaviour, not a static label. A wallet that decays over a rolling window can lose tier; a wallet that strengthens can gain it. Demotion and rejection are also visible — dead evidence is still evidence.

Profiling is the screening room. A wallet enters via two paths: it appears on a public Hyperliquid leaderboard, or it is added by an operator from upstream evidence. Either way, it has to clear the profiler before it can move the cohort.

The profiler checks:

• Minimum number of closed trades in the active window.
• Hold-time distribution (rejects pure scalpers).
• Lower-bound win rate using a Wilson interval (accounts for sample size).
• Composite quality score combining return, drawdown, hold-time band, trade frequency, and size band.
• Behavioural filters (no spoof / wash patterns, no obvious self-promo cycles).

Wallets that fail are marked rejected with a reason. They stay visible for transparency, not promotion.

Attribution links a SHADOW copy trade back to its originating cohort. The mechanism is simple and verifiable:

• Each cohort signal that fires creates a trade_id tied to the wallets that contributed to it.
• When SHADOW executes a copy trade, the originating trade_id is stamped on the resulting copytrader trade row.
• When the copy trade closes, the realised PnL is attributed back to the cohort's wallets in proportion to their contribution.
• Wallet pages show the inbound side: which cohorts a wallet has been part of, and the closed-trade outcomes of those cohorts.

This means every public ledger entry on a wallet page is reproducible by joining the cohort table to the copytrader trade table on trade_id. There is no hand-curated narrative.

SHADOW imposes its own risk perimeter on top of any individual wallet's behaviour. Public-side controls visible from this surface include:

• Tier-weighted sizing — not all signals carry the same weight.
• Cohort consensus floors — a single wallet cannot move the execution layer alone.
• Scalper rejection — very-short-hold strategies are filtered before they can shape the cohort.
• Drawdown demotion — wallets that breach drawdown bands lose tier until they recover.
• Manual close reconciliation — any ledger discrepancy is reconciled on a recurring schedule and visible in the audit history.

Specific thresholds and operator playbook details remain private. Publishing them would invite gaming and would not improve a researcher's ability to evaluate the system.

SHADOW publishes several read-only surfaces. Each is scoped to a specific class of evidence:

• Hall of Fame — copied-account winners ranked by closed percentage performance.
• Copied positions — the live ledger of trades SHADOW copied, with their cohort and outcome.
• Consensus board — current cohort signals, with the wallets contributing to each.
• Live feed — real-time SHADOW timeline events: detections, consensus, risk checks, fills, exits, profiler movement, and refusals.
• Profiler — scoring theatre: what the screening room is doing, who is being promoted, who is being rejected.
• Wallet tiers — current roster matrix with tier assignments and metadata.

What is not exposed: private operator commentary, internal SHADOW thresholds, future-trade signals, or any payment/account data.

You CAN infer:

• That a Tier 1 / Tier 2 wallet has produced reproducible closed-trade performance over the rolling window.
• That SHADOW's copied positions are real, attributable trades — not self-reported screenshots.
• That a cohort signal's wallet roster is verifiable from the public ledger.
• That a profiler rejection is final until the wallet's behaviour changes.

You CANNOT infer:

• That a top-ranked wallet will continue to outperform.
• That SHADOW endorses any wallet operator personally. Tier assignment is behavioural, not editorial.
• That a wallet's strategy is reproducible at your size. Slippage, funding, liquidations, and order-book impact change at scale.
• That past cohort performance predicts future cohort performance. The roster decays and recomposes constantly.

SHADOW does not promise profit. It does not promise consistency. It does not promise that any wallet on the roster will be on the roster next week. What it commits to is:

• Closed-trade evidence, not screenshots.
• A profiler that filters noise before it can move execution.
• Attribution that survives independent verification on Hyperliquid.
• Honesty about rejections, demotions, and dead wallets.

Nothing on this surface constitutes financial advice, a recommendation, an inducement to transact, or a guarantee. Decisions remain yours. SHADOW is research and observation infrastructure, not a brokerage.

Other FreedomCore product surfaces publish their own documentation:

• You are here: SHADOW docs — copy-trading observatory.
• ARENA docs → — public Hyperliquid leaderboard methodology and limits.
• ATLAS docs → — market intelligence terminal: templates, tiers, privacy.