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Documentation Index

Fetch the complete documentation index at: https://docs.inkwell.finance/llms.txt

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CONFIDENTIAL & PROPRIETARY © 2026 Inkwell Finance, Inc. All Rights Reserved. This document is for informational purposes only and does not constitute legal, tax, or investment advice, nor an offer to sell or a solicitation to buy any security or other financial instrument. Any examples, structures, or flows described here are design intent only and may change.
This section collects the strongest adversarial critiques of Dagon and answers them directly. The goal is not to rebut every concern — some are legitimate and unresolved. The goal is to be honest about what’s closed, what’s open, and what we accept.

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Structure

Regulatory

SEC, OFAC, MAS, MiCA, FINMA — how does Dagon survive contact with each? What classifications apply? What’s unresolved?

Technical

MEV surface, metadata leakage, FHE pragmatism, timing attacks, committee liveness. Where the crypto is strong and where it’s weak.

Market

Timing vs. Arcium/Umbra, who actually needs this, TAM, positioning risk, kill criteria.

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Our posture

  • We don’t claim “never by breach.” That phrasing is unfalsifiable. What we claim is the shape of the disclosure path — see selective disclosure.
  • We don’t claim timing moat. Arcium / Umbra shipped before us. Our bet is mechanism depth and identity composition, not first-mover.
  • We don’t claim TradFi replacement. Canton wins today at institutional scale. Dagon’s wedge is crypto-native institutions (prop, OTC, funds) whose compliance model is “respond to lawful process,” not “prevent all disclosure.”
  • We acknowledge pre-alpha state. Today’s devnet is plaintext-mock; mainnet is gated on Encrypt REFHE. If Encrypt slips past end-of-2026, the stack pivots.