VHO-PMM, verification-settled.
Accessura Protocol uses VHO-PMM, a hybrid market making design that combines an orderbook-first market, PMM-backed continuity, and verification-settled delivery. Trades are quoted in quality-adjusted units, funded through escrow, and finalized only after delivery quality is checked. Detailed parameters are still being finalized and will publish separately.
Accessura Protocol clears information trades only after price discovery and delivery quality are both visible.
Supply becomes a priced, previewable market object instead of monetizing attention alone.
VHO-PMM combines early liquidity bootstrapping with bid/ask discovery without forcing information trades into a single pure market model.
Settlement waits for payload delivery, source chain review, and verifier sign-off.
Three product lines, one initiation mechanism.
Pack sells to agents. Subscription sells to humans. Request-Reply starts either one on demand.
Structured information artifacts with content-hash provenance. Split by lifecycle: Stream (continuous append) and Snapshot (one-shot immutable).
A seller's commentary, narrative, and continuous reasoning. Referenced from packs but never bundled with them.
Buyer posts a brief, seller responds, delivers either a Stream or a Snapshot. One mechanism, both outputs.
Stream and Snapshot are the only product axis.
A Stream is a continuously appended payload; a Snapshot is a frozen one-shot capture. Pack titles describe the content (capture, signal, report, dataset) but lifecycle is what changes how the Pack is priced, delivered, and closed.
Live odds ticker · substitution monitor · vessel telemetry feed · ongoing on-chain flow tracker
Single captured asset (photo, recording, document) · post-event analysis · weekly survey · structured dataset for a fixed window
Why Accessura Protocol combines multiple market functions instead of picking one.
Each pure model works for something. Information trades break when any one of them tries to do the whole job alone.
Pure content site | Pure automated liquidity | Pure bid/ask market | Accessura Protocol Combined design | |
|---|---|---|---|---|
Pricing model | Attention, sponsorship, or flat subscription pricing. | Automated quotes around standardized markets. | Visible bids and asks only when counterparties post them. | VHO-PMM hybrid market making with verification-settled delivery. |
Supply model | Posts, feeds, and access bundles. | Fungible shares in the same market outcome. | Standardized assets that can clear without custom review. | Structured Data Packs and Request Briefs shaped by templates. |
Price discovery | Creator reputation and packaging quality. | Automated liquidity plus external reference inputs. | Direct counterparties negotiate in the open. | Hybrid orderbook with PMM reference pricing; bid/ask discovery converges as depth grows. |
Settlement | Usually off-platform, or not transactional at all. | On-chain market resolution, but not payload quality review. | Engine assumes the deliverable is already standardized. | Payload check, plausibility review, then USDC settlement. |
What breaks alone | No executable two-sided pricing or verifiable delivery workflow. | The curve cannot inspect differentiated information quality. | Thin two-sided supply leaves price discovery noisy and slow. | Operationally heavier, so launch is staged while detailed mechanism parameters are finalized. |
A market stack designed for non-standardized information.
Each layer solves a different failure mode: shape the object, coordinate matching, support early liquidity, then verify before settlement. In the v3 whitepaper, this four-layer stack is named the Agent Unified Interface (AUI).
Template markets define the delivery shape and the quality lens before any quoting starts.
- Turns heterogeneous information demand into repeatable micro-markets.
- Defines the fields verifiers will later inspect and settle against.
- Translates raw payload into a quality-adjusted unit before the market quotes it.
The orderbook ranks and routes interest on more than price alone so differentiated information can still clear.
- Price still matters first, but not by itself.
- Reputation history affects which supply is trusted to clear.
- Verification confidence and delivery freshness stay explicit in matching.
Reference pricing and bounded PMM support keep continuity quotes available when the real orderbook is still thin.
- Reference pricing blends verified-trade VWAP, the live orderbook midpoint, and external anchors.
- PMM support handles residual flow instead of replacing real counterparties.
- Risk stays bounded by explicit inventory and quote-shape controls.
Accepted trades do not settle immediately. Buyer funds and seller collateral stay inside a verification-aware settlement layer first.
- Buyer escrow is set before payload release and seller deposit backs delivery risk.
- Verification determines payout, refund, or penalty after the payload is checked.
- Reputation decays smoothly over normal activity, but confirmed fraud resets trust hard.
Heterogeneous information becomes a semi-comparable trade unit before pricing starts.
Accessura does not quote raw counts alone. It first translates the seller's payload into a quality-adjusted unit so the orderbook and PMM can price very different information objects on a shared scale without pretending they are identical.
The seller starts with the actual number of files, entries, clips, or observations they can deliver.
Timeliness, verifiability, reputation, and delivery fit are scored before quoting the trade.
The market quotes and matches on a quality-adjusted unit so heterogeneous payloads become comparable enough to clear.
The platform constrains how much residual flow it will absorb inside any one market before quotes widen or step back.
PMM support aims back toward a preferred inventory posture instead of warehousing open-ended directional risk.
Continuity quotes steepen as exposure grows so thin markets keep a live price without pretending liquidity is infinite.
How a trade moves from information need to verified settlement.
The flow stays simple on purpose: shape the request, discover a price, preview the payload, verify the delivery, then settle.
A buyer can publish a Request Brief, or a seller can publish a Pack that already fits a known template.
The registry identifies the micro-market, rights mode, preview requirements, and delivery fields before quoting begins.
Raw payload is translated into a quality-adjusted trade unit so heterogeneous sellers can clear against the same demand without pretending the underlying work is identical.
Price, reputation, verification confidence, and delivery freshness determine how the best listing, bid, or response is surfaced.
Verified trades, the orderbook midpoint, and external anchors blend into a live reference price while PMM support handles residual flow only when needed.
Accepted trades move funds into buyer escrow and require seller collateral before the payload is released, so the trade can settle against verification instead of trust alone.
The seller delivers the payload and source chain; verifiers check completeness, structure, provenance, and delivery freshness against the market definition.
Verified delivery releases payout, gaps route refunds from escrow, and confirmed failures draw on seller deposit while reputation updates carry forward into future matching.
Three corridors determine how every object is handled.
Clear source, established seller history, non-sensitive subject.
Lower challenge-bond. Standard dispute routing.
Instant settlement. Stake-backed.
New seller, sensitive timing, disclosed editing, or price anomaly.
Elevated challenge-bond. Disputes route to senior verifier panel.
Instant settlement. Higher stake retained until challenge window expires.
MNPI, copyright breach, fake source, undisclosed deepfake, proxy trading, sanction evasion, manipulation assist.
Content policy violation. No listing permitted.
N/A — transaction cannot proceed.
What happens when things go wrong.
Mechanism quality shows up in operating numbers.
These are the metrics partners can read as evidence that the market is organizing supply, matching demand, and settling cleanly.
Sellers with published packs and settled challenge history.
Current inventory available for discovery or direct matching.
How fast a live brief sees its first actionable response.
Typical time from accepted offer to buyer-ready payload.
Deliveries for which the challenge window expired without a dispute raised.
How often accepted deliveries escalate into dispute handling.
The full mechanism is also documented for builders.
Read the object model, flow vocabulary, and API preview in the docs. Or move straight to the live market inventory to see how the mechanism appears in listings and requests.