diff --git a/core/docs/plans/M0-economy-organ-hub.md b/core/docs/plans/M0-economy-organ-hub.md
index cf1b9c5..d4eeccf 100644
--- a/core/docs/plans/M0-economy-organ-hub.md
+++ b/core/docs/plans/M0-economy-organ-hub.md
@@ -1,66 +1,73 @@
 # M0 — Economy organ hub (the stomach)
 
 ## 1. Component
-The economy organ — the organism's **stomach**. An outer organ on Ichor that **digests external
-input into context** and **tracks the cost of doing so**. Hub for the M-series sub-components
-(M1–M7): ingestion, digestion, cost ledger, budget governor, context yield, provenance chain,
-outer-bus exchange. "Economy" = the organ economizes: it spends scarce resources (tokens, compute,
-attention budget) to convert raw input into usable context, and **accounts for every unit spent**.
+The economy organ — the organism's **stomach**. An **independent, self-governing system**: a
+multi-agentic market prediction oracle and cryptocurrency trading engine. Houses the Marketplace
+(M1), Data Feeds (M2), Sims (M3), Wallets (M4), Traders (M5), Conductor (M6), and SAE monitor
+(M7). Communicates with the rest of the organism **via Ichor only** — reward signals back to the
+organism are TBD and out of scope.
+
+"A stomach rarely consults a brain for permission to digest." The economy organ operates with
+**scoped autonomy** and **multiple layers of failsafe braking** — it does not ask the organism's
+Brain for permission to trade.
 
 ## 2. Status / certainty
 DESIGN-FIRST · ABSENT. A `Stomach` primitive exists in Ichor (`src/ichor/envelope.pony:20`) with
 one smoke-test wire (`main.pony:29`), but no dedicated organ code. Role C4; implementation C1.
 
 ## 3. Language & location
-TBD · new location e.g. `src/economy/`. The digestion core (M2) requires a small-model runtime;
-the accounting/budget layers (M3–M4) can be any language that interops with Pony (Ichor) and Ada
-(D1). Pony actors are the natural fit for the bus-facing facade.
+TBD · new location e.g. `src/economy/`. The organ is polyglot by nature: trading infrastructure
+(APIs, wallets) may differ in language from simulations (numerical computing) and the conductor
+(AI supervision). Pony actors provide the Ichor-facing facade.
 
 ## 4. Does / does-not
-- **Does:** receive external input from Ichor; triage and classify it (M1); digest it via a small
-  model into context (M2); track the resource cost of that digestion (M3); enforce budget limits
-  and emit price signals to A2 (M4); shape output for Ada (M5); maintain provenance through the
-  pipeline (M6); coordinate with outer-bus peers — MoRAG, SAE, microagents (M7).
-- **Does-not:** police (Ada D1 does that); decide actions (the agent decides, per A1-L3); store
-  memories (E*); route the bus (Ichor broker); reason or deliberate (it digests, it doesn't think).
+- **Does:** host crypto/NFT trading via the Marketplace (M1); run always-on market prediction
+  Sims (M3) fed by live Data Feeds (M2); manage sovereign-custody Wallets (M4); supervise
+  Traders (M5) via a Conductor (M6) and SAE monitor (M7); collect taxes on trader income and
+  stub transfer to Verschwörern Veregeister wallets.
+- **Does-not:** consult the organism's Brain for trade decisions (scoped autonomy); route around
+  Ada for organism-bound messages (S1); store organism memories (E*); act as the organism's
+  conscience (that's Eth-Int / A6).
 
 ## 5. Interface contract
-- `ingest(external_input, provenance) -> classified_input` (M1 — triage + classify).
-- `digest(classified_input) -> digested_context` (M2 — small-model transform).
-- `record_cost(organ_id, action, resource_amt) -> receipt` (M3 — ledger entry).
-- `check_budget(organ_id, proposed_cost) -> { allowed:bool, remaining:num }` (M4).
-- `price_signal(tool_id) -> { resource_cost:num, budget_remaining:num }` (M4 → A2).
-- `yield(digested_context) -> Envelope` (M5 — shaped for Ada, with M6 provenance chain attached).
-- Output is an Ichor `Envelope` with `OrganSecretion` provenance, carrying the original input's
-  provenance origin in metadata (M6).
+- **Ichor interface (outbound):** `Envelope(Stomach, AdaBorder, OrganSecretion, payload)` — market
+  state summaries, prediction digests, and tax receipts cross Ada to reach the inner brain.
+- **Ichor interface (inbound):** organism directives arrive via Ichor (e.g. risk posture changes,
+  budget adjustments from A2 energy).
+- **Internal wiring:** Marketplace (M1) ↔ Data Feeds (M2) ↔ Sims (M3). Wallets (M4) bind to
+  Traders (M5). Conductor (M6) supervises Traders via SAE (M7). All trader actions route through
+  Marketplace.
+- **Tax stub:** `transfer_tax(amount, source_wallet, dest_wallet) -> receipt` — automation hook
+  for Verschwörern Veregeister internal wallet-to-wallet transfer. **Out of scope** — stub only.
 
 ## 6. Dependencies & stubs
 - Ichor bus (D2) — existing `Broker` + `Envelope`.
-- Ada border (D1) — existing `Trust_Guard` screens the output; *stub:* Ichor `Barrier`.
-- A2 energy — consumes price signals (M4); *stub:* print signals.
-- MoRAG (F1) — world-context retrieval; *stub:* fixed context.
+- Ada border (D1) — screens outbound organism messages; *stub:* Ichor `Barrier`.
+- A2 energy — potential consumer of economic signals; *stub:* no integration initially.
+- Verschwörern Veregeister wallets — tax destination; *stub:* log transfer, no real wallet.
 
 ## 7. Invariants / laws
 - **L1 (C5):** the stomach is an **OUTER** organ — it rides Ichor, never the inner bus.
-- **L2 (C4):** digestion does **not suppress** — it transforms for comprehension (summarize,
-  classify, extract), never censors. Filtering is Ada's job (D1).
-- **L3 (C4):** every resource expenditure is **accounted** — no digestion is "free"; the ledger
-  (M3) records every token/compute unit spent.
-- **L4 (C4):** provenance survives digestion — digested content retains its original provenance
-  origin in metadata, even as bus transport uses `OrganSecretion` (see M6, S1/S2).
+- **L2 (C5):** **scoped autonomy** — the organ trades without Brain permission, but within
+  deterministic law constraints (M1) and Conductor oversight (M6).
+- **L3 (C4):** **all market actions route through the Marketplace** (M1) — no trader may
+  execute directly on-chain without the Marketplace harness.
+- **L4 (C4):** **sovereign custody only** — all wallets are local-hosted, our keys, never
+  delegated to exchanges or third parties (M4).
+- **L5 (C4):** **multi-layered braking** — deterministic law script (M1), Conductor veto (M6),
+  SAE surveillance (M7), and wallet-level limits (M4) each independently constrain risk.
 
 ## 8. Build steps
-1. Define the hub wiring: how M1→M2→M5 pipeline + M3/M4 accounting + M6 provenance + M7 peers
-   connect. Decide: single Pony actor or actor-per-subcomponent.
+1. Define the internal wiring topology (how M1–M7 connect).
 2. Extend the existing `Stomach` primitive in Ichor to carry the hub facade.
-3. Wire sub-components as their specs land (M1–M7).
-4. Integrate price signals with A2 (energy driver).
+3. Wire sub-components as their specs land.
+4. Implement the tax stub for Verschwörern Veregeister transfer.
 
 ## 9. Tests
-Hub smoke: external input enters → classified → digested → yielded as Envelope → reaches Ada stub.
-Cost recorded in ledger. Budget check returns correct remaining. Price signal emitted.
+Hub smoke: Marketplace reachable; Sims running and queryable; Wallet bound to Trader; Conductor
+receives SAE reports; tax stub logs transfer. Ichor: outbound envelope reaches Ada stub.
 
 ## 10. Open items
-- Single actor vs actor-per-subcomponent (Pony concurrency model for the organ).
-- Whether the hub owns state or is purely a wiring facade (stateless router vs stateful coordinator).
-- The A2 price-signal protocol (push vs pull; frequency).
+- Reward signal protocol from economy organ to organism (TBD, out of scope).
+- Internal communication bus (reuse Ichor internally? separate actor topology?).
+- Language choices per sub-component.
diff --git a/core/docs/plans/M1-ingestion.md b/core/docs/plans/M1-ingestion.md
deleted file mode 100644
index 0eb0c63..0000000
--- a/core/docs/plans/M1-ingestion.md
+++ /dev/null
@@ -1,60 +0,0 @@
-# M1 — Ingestion gateway
-
-## 1. Component
-The mouth of the stomach: **receives, classifies, and triages** external input before it enters the
-digestion pipeline (M2). The first thing raw input touches inside the economy organ. Decides *how*
-to digest — not *whether* (that's Ada's job after digestion).
-
-## 2. Status / certainty
-DESIGN-FIRST · ABSENT. The smoke test (`main.pony:29`) hard-codes a single string payload; no
-classification or triage logic exists. Role C3; implementation C1.
-
-## 3. Language & location
-TBD · likely part of `src/economy/` or a Pony actor within the stomach. Classification could be
-rule-based (fast, no model) or a lightweight classifier (BERT-tiny, shared with F1/MoRAG's BERT).
-
-## 4. Does / does-not
-- **Does:** accept raw `Envelope` payloads from Ichor; classify input by type (user utterance,
-  tool output, system event, bulk data); assign a **digestion priority** (urgent / normal / bulk);
-  estimate the **digestion cost** (token count of input × expected expansion factor) and check
-  budget (M4) before forwarding to M2.
-- **Does-not:** filter or censor (M0-L2); digest (M2 does); decide actions (agent decides);
-  screen provenance (Ada D1).
-
-## 5. Interface contract
-- `ingest(envelope: Envelope) -> ClassifiedInput { type, priority, est_cost, original_provenance, payload }`
-- `type` ∈ { `user_utterance`, `tool_output`, `system_event`, `bulk_data`, `unknown` }.
-- `priority` ∈ { `urgent`, `normal`, `bulk` } — urgent skips any queue; bulk may be deferred or
-  chunked under budget pressure (M4).
-- `est_cost` = estimated token cost of digesting this input (input tokens + expected output tokens).
-  M4 checks this against remaining budget before M2 proceeds.
-- `original_provenance` = the `Provenance` from the inbound Envelope, carried through for M6.
-
-## 6. Dependencies & stubs
-- Ichor `Envelope` (existing) — input shape.
-- M4 budget governor — budget check before forwarding; *stub:* always-allow.
-- M2 digestion core — downstream consumer; *stub:* identity (pass-through).
-
-## 7. Invariants / laws
-- **L1 (C4):** classification is **descriptive, not prescriptive** — it labels the input for the
-  pipeline's benefit, never decides what to do with it.
-- **L2 (C4):** no input is **dropped** at ingestion — everything classified reaches M2 (possibly
-  deferred under budget pressure, but never discarded). Only Ada may reject.
-- **L3 (C3):** cost estimation is **conservative** — overestimate rather than underestimate, so
-  budget checks err on the side of caution.
-
-## 8. Build steps
-1. Define the `ClassifiedInput` shape and the classification rules (start rule-based, no model).
-2. Implement cost estimation (token counting + expansion factor).
-3. Wire to M4 budget check (gate: proceed / defer / chunk).
-4. Wire to M2 downstream.
-
-## 9. Tests
-Classification: each input type correctly tagged. Priority: urgent input not queued. Cost estimate:
-known inputs produce expected token counts. Budget gate: over-budget input deferred, not dropped.
-
-## 10. Open items
-- Whether classification needs a model or rules suffice (start with rules; promote if accuracy
-  demands it).
-- The expansion factor (input tokens → output tokens) per input type — needs empirical data (C1).
-- Queue/deferral mechanics for bulk input under budget pressure.
diff --git a/core/docs/plans/M1-marketplace.md b/core/docs/plans/M1-marketplace.md
new file mode 100644
index 0000000..903c583
--- /dev/null
+++ b/core/docs/plans/M1-marketplace.md
@@ -0,0 +1,75 @@
+# M1 — Marketplace (multi-trader harness)
+
+## 1. Component
+The economy organ's trading floor: a **multi-trader harness** through which **all market actions
+must route**. No trader may buy, sell, mint, or interact with any on-chain protocol except through
+the Marketplace. Enforces a **deterministic law script** (scoped invariants — the marketplace's
+own constitution) and integrates the **Conductor's veto** (M6) before execution.
+
+## 2. Status / certainty
+DESIGN-FIRST · ABSENT. Role C4; implementation C1.
+
+## 3. Language & location
+TBD · `src/economy/marketplace/`. Needs to interface with blockchain APIs (RPC/REST), wallet
+signing (M4), and the Conductor (M6). Deterministic law script must be auditable and non-Turing
+(no unbounded loops — it's a constitution, not a program).
+
+## 4. Does / does-not
+- **Does:** receive trade requests from Traders (M5); validate against the deterministic law
+  script (scoped invariants); check Conductor veto (M6); verify trader-wallet binding (no wallet
+  = no access); execute approved actions on-chain via the bound wallet's API; record all actions
+  for SAE (M7) monitoring; collect tax on realized income → Verschwörern Veregeister stub (M0).
+- **Does-not:** decide *what* to trade (Traders decide); predict markets (Sims do); hold keys
+  (Wallets do); supervise behavior (Conductor + SAE do).
+
+## 5. Interface contract
+- `submit_action(trader_id, action: MarketAction, wallet_id) -> { accepted | vetoed | law_violation | no_wallet }`.
+  `MarketAction` ∈ { `buy`, `sell`, `mint`, `provide_liquidity`, `withdraw_liquidity`, `claim_rewards`, … }.
+- `law_check(action: MarketAction) -> { pass | violation(rule_id, reason) }` — deterministic,
+  pure function. The law script is loaded at startup and **immutable at runtime** (mirrors S3 /
+  the COBOL vault pattern).
+- `veto_check(action: MarketAction, trader_id) -> { approved | vetoed(reason) }` — calls M6
+  Conductor.
+- `execute(action: MarketAction, wallet_id) -> { tx_hash | error }` — on-chain execution via
+  wallet API.
+- `tax_event(trader_id, income_amount) -> receipt` — triggers tax collection.
+
+## 6. Dependencies & stubs
+- M4 Wallets — signing + execution; *stub:* mock wallet that logs transactions.
+- M5 Traders — action source; *stub:* canned trade requests.
+- M6 Conductor — veto authority; *stub:* always-approve.
+- M7 SAE — action log consumer; *stub:* print actions.
+- Blockchain RPCs — on-chain execution; *stub:* simulated chain responses.
+
+## 7. Invariants / laws
+- **L1 (C5):** **all market actions route through the Marketplace** — no direct on-chain
+  execution by any trader. This is the economy organ's S1.
+- **L2 (C5):** the **deterministic law script is immutable at runtime** — loaded at startup,
+  never modified by traders, conductor, or sims. Changes require a restart with a new script
+  version. Mirrors the COBOL vault (S3).
+- **L3 (C4):** **no wallet, no access** — a trader without a bound wallet cannot submit actions.
+  The Marketplace enforces this before any other check.
+- **L4 (C4):** **veto is checked after law, before execution** — law violations are rejected
+  outright; Conductor veto applies only to law-passing actions. The law is above the Conductor.
+- **L5 (C4):** **every action is logged** — SAE (M7) receives a record of every submitted
+  action (including rejected ones) for behavioral analysis.
+
+## 8. Build steps
+1. Define `MarketAction` types and the law script format.
+2. Implement the law checker (deterministic, pure, non-Turing).
+3. Wire veto check to M6 Conductor.
+4. Wire execution to M4 Wallet API.
+5. Wire action logging to M7 SAE.
+6. Implement tax collection on realized income.
+
+## 9. Tests
+Law enforcement: known violations rejected; valid actions pass. Veto: conductor veto blocks
+execution. Wallet binding: walletless trader rejected. Logging: every action (pass + fail) logged.
+Tax: income event triggers tax stub. Immutability: law script cannot be modified at runtime.
+
+## 10. Open items
+- The law script language/format (DSL? declarative rules? S-expressions?).
+- Which blockchain protocols/RPCs to support initially.
+- Position limits, drawdown stops, and other risk parameters — live in the law script or in the
+  Conductor's judgment?
+- Tax rate / calculation method (fixed %, tiered, per-asset?).
diff --git a/core/docs/plans/M2-data-feeds.md b/core/docs/plans/M2-data-feeds.md
new file mode 100644
index 0000000..c2750c5
--- /dev/null
+++ b/core/docs/plans/M2-data-feeds.md
@@ -0,0 +1,70 @@
+# M2 — Data feeds (market data pipeline)
+
+## 1. Component
+The economy organ's sensory nervous system: **live RSS feeds, price streams, and on-chain data**
+flowing into both the Marketplace (M1) and the Sims (M3). Sits between them — the Marketplace
+produces execution data (fills, positions, P&L) that feeds back into Sims, and Sims produce
+predictions that inform Traders operating through the Marketplace. Data Feeds is the bridge.
+
+## 2. Status / certainty
+DESIGN-FIRST · ABSENT. Role C3; implementation C1.
+
+## 3. Language & location
+TBD · `src/economy/feeds/`. Needs async I/O for streaming data (WebSockets, SSE, RSS polling).
+Pony actors are a natural fit (async, backpressure-aware). Python or Rust for API client libs.
+
+## 4. Does / does-not
+- **Does:** ingest live market data from external sources (RSS, price APIs, DEX subgraphs,
+  on-chain event logs); normalize heterogeneous data into a common internal format; distribute
+  to Sims (M3) for prediction and to Traders (M5) for decision-making; ingest Marketplace (M1)
+  execution data (fills, portfolio state) and feed it back into Sims for calibration; maintain
+  time-series history within session (ring buffer).
+- **Does-not:** predict (Sims do); trade (Marketplace does); filter or editorialize data — it
+  delivers raw, normalized feeds. Interpretation is the consumer's job.
+
+## 5. Interface contract
+- `subscribe(feed_type: FeedType, consumer_id) -> subscription_handle`.
+  `FeedType` ∈ { `price_tick`, `rss_news`, `on_chain_event`, `dex_pool_state`, `execution_fill`,
+  `portfolio_state` }.
+- `publish(feed_type, data_point: NormalizedDatum)` — internal; sources push into the pipeline.
+- `query_history(feed_type, time_range) -> [NormalizedDatum]` — sims and traders can pull
+  historical data within the session window.
+- `NormalizedDatum { feed_type, source, timestamp, payload, confidence }` — common shape.
+  `confidence` ∈ [0.0, 1.0] — data source reliability (exchange-reported price = high; RSS
+  sentiment = lower).
+
+## 6. Dependencies & stubs
+- External data sources (price APIs, RSS, RPC nodes) — *stub:* canned market data replay.
+- M1 Marketplace — execution data source (fills, positions); *stub:* canned fills.
+- M3 Sims — primary consumer; *stub:* print data points.
+- M5 Traders — secondary consumer; *stub:* print data points.
+
+## 7. Invariants / laws
+- **L1 (C4):** data feeds are **raw and unnormalized in meaning** — the pipeline normalizes
+  *format* (schema, timestamps, units) but never interprets, filters, or editorialize content.
+- **L2 (C4):** **bidirectional flow** — external data flows in (market → sims/traders), and
+  internal execution data flows back (marketplace → sims). Both directions use the same
+  `NormalizedDatum` shape.
+- **L3 (C3):** **backpressure, not drop** — if a consumer is slow, buffer up to a cap, then
+  apply backpressure to the source. Never silently drop data points.
+- **L4 (C3):** every datum carries a **source and timestamp** — consumers can always trace
+  where data came from and when.
+
+## 8. Build steps
+1. Define `NormalizedDatum` and `FeedType` shapes.
+2. Implement the pub/sub pipeline (subscribe, publish, distribute).
+3. Wire external source adapters (start with one price API + one RSS feed).
+4. Wire M1 execution data feedback loop.
+5. Implement session-scoped time-series history (ring buffer).
+
+## 9. Tests
+Normalization: heterogeneous inputs produce uniform `NormalizedDatum` output. Pub/sub: subscriber
+receives published data. History: query returns correct time range. Backpressure: slow consumer
+does not cause data loss. Bidirectional: marketplace fills reach sims via the feed.
+
+## 10. Open items
+- Which price APIs / RSS sources to support initially (CoinGecko? DeFiLlama? specific DEX
+  subgraphs?).
+- History buffer size / eviction policy.
+- Whether feeds need authentication / rate limiting management.
+- Latency requirements (how fresh must data be for each consumer type?).
diff --git a/core/docs/plans/M2-digestion-core.md b/core/docs/plans/M2-digestion-core.md
deleted file mode 100644
index 237ba12..0000000
--- a/core/docs/plans/M2-digestion-core.md
+++ /dev/null
@@ -1,70 +0,0 @@
-# M2 — Digestion core (small-model)
-
-## 1. Component
-The stomach's engine: a **small language model** that transforms classified input (M1) into
-**digested context** — structured, compressed, ready for Ada and ultimately the Brain. This is
-what "digests external input → context" means concretely: summarization, extraction, reformatting,
-and compression, performed by a model small enough to run cheaply and fast.
-
-## 2. Status / certainty
-DESIGN-FIRST · ABSENT. bus-topology.md names it "small-model operated" but leaves the model
-unspecified (listed as open). Role C3; implementation C1.
-
-## 3. Language & location
-TBD · `src/economy/digest/` or similar. Requires an inference runtime for the small model
-(e.g. llama.cpp, ONNX, or an API call to a hosted small model). The wrapper is likely Pony
-(bus-native) or Python (ML ecosystem), with a Pony actor facade on Ichor.
-
-## 4. Does / does-not
-- **Does:** take `ClassifiedInput` (M1); run the small model to produce `DigestedContext` —
-  **summarize** (compress verbose input), **extract** (pull structured data from unstructured),
-  **reformat** (normalize into the context shape Ada/Brain expect); report actual cost to M3.
-- **Does-not:** classify (M1 already did); filter/censor (M0-L2 — digest for comprehension, not
-  approval); reason or deliberate (the Brain does that); call tools or take actions.
-
-## 5. Interface contract
-- `digest(input: ClassifiedInput) -> DigestedContext { summary, extractions[], source_ref, actual_cost }`.
-- `summary`: compressed natural-language context (the "chewed food").
-- `extractions`: structured key-value pairs pulled from the input (entities, quantities, intents).
-- `source_ref`: pointer back to the original input (for M6 provenance chain).
-- `actual_cost`: real token count consumed (input + output), reported to M3 ledger.
-- The model is invoked with a **system prompt specific to digestion** — not the agent's system
-  prompt. The digestion prompt instructs: summarize, extract, reformat; do not opine, decide, or
-  filter.
-
-## 6. Dependencies & stubs
-- M1 `ClassifiedInput` — upstream; *stub:* canned classified input.
-- M3 cost ledger — receives `actual_cost`; *stub:* print cost.
-- Small model runtime — *stub:* a deterministic mock that returns fixed summaries for known inputs
-  (no model needed for unit tests).
-
-## 7. Invariants / laws
-- **L1 (C4):** digestion is **lossy compression, not judgment** — the model summarizes and
-  extracts but never evaluates, approves, or filters the content. It chews; it doesn't taste.
-- **L2 (C4):** the digestion prompt is **fixed and auditable** — not dynamically generated, not
-  influenced by the input being digested (no prompt injection path from input to digestion
-  instructions).
-- **L3 (C3):** **actual cost is always reported** — every invocation records real token usage to
-  M3; no "free" digestions.
-- **L4 (C3):** the model is **small by design** — cost and latency must stay below the threshold
-  where digestion becomes more expensive than passing raw input. If the model is too expensive,
-  the organ is failing its economic purpose.
-
-## 8. Build steps
-1. Select the small model (candidates: Haiku-class, phi-3-mini, or similar; evaluate on
-   summarization quality vs cost vs latency).
-2. Write the fixed digestion system prompt.
-3. Build the inference wrapper (model invocation + output parsing).
-4. Wire M1 → M2 → M3 (cost reporting) → M5 (output shaping).
-
-## 9. Tests
-Mock model: known input → expected summary + extractions. Cost reporting: actual_cost recorded for
-every invocation. Prompt integrity: digestion prompt is the fixed string (no injection). Latency:
-invocation completes within budget (TBD threshold).
-
-## 10. Open items
-- **Model selection** (C1) — which small model, self-hosted vs API, quantization level.
-- **Digestion prompt** (C1) — exact wording; needs empirical tuning against real inputs.
-- Latency budget (C1) — max acceptable ms per digestion; ties to how it's invoked (batch vs streaming).
-- Whether different input types (M1 classification) get different digestion strategies or one
-  model handles all.
diff --git a/core/docs/plans/M3-cost-ledger.md b/core/docs/plans/M3-cost-ledger.md
deleted file mode 100644
index b2dc48e..0000000
--- a/core/docs/plans/M3-cost-ledger.md
+++ /dev/null
@@ -1,63 +0,0 @@
-# M3 — Cost ledger
-
-## 1. Component
-The stomach's accounting book: records **every resource expenditure** across the economy organ and,
-optionally, across the organism. Every token spent on digestion (M2), every budget check (M4),
-every outer-bus exchange (M7) — the ledger knows. This is the "money" in "M for money": if it
-costs something, it's in the ledger.
-
-## 2. Status / certainty
-DESIGN-FIRST · ABSENT. No cost tracking exists anywhere in the system. A2 (energy driver) tracks
-an internal activation/rest budget but has no concept of external resource costs. Role C3;
-implementation C1.
-
-## 3. Language & location
-TBD · `src/economy/ledger/` or similar. Needs durable-enough storage to survive a session (but
-the container is ephemeral, so "durable" means in-memory with optional flush — not a database).
-Could be R (to sit near A2), Pony (bus-native), or a simple append-only log.
-
-## 4. Does / does-not
-- **Does:** record every resource expenditure as a `LedgerEntry` (who spent, what action, how much,
-  when); provide totals by organ, by action type, and grand total; answer "how much has been spent?"
-  and "how much is left?" (the latter via M4's budget).
-- **Does-not:** decide whether to spend (M4 governs that); price tools (A2 does); restrict actions
-  (Ada D1 polices); optimize or suggest cheaper paths (that's a future concern, not a ledger's job).
-
-## 5. Interface contract
-- `record(entry: LedgerEntry) -> receipt_id`.
-  `LedgerEntry { organ_id, action, resource_type, amount, timestamp }`.
-  `resource_type` ∈ { `input_tokens`, `output_tokens`, `compute_ms`, `api_call` }.
-- `total(filter?) -> num` — total spent, optionally filtered by organ/action/resource_type/time range.
-- `entries(filter?) -> [LedgerEntry]` — raw entries for audit.
-- The ledger is **append-only** at runtime — entries are never modified or deleted (the books don't
-  get cooked). A session-start reset is fine (ephemeral container).
-
-## 6. Dependencies & stubs
-- M2 digestion core — primary cost source (reports `actual_cost` per digestion).
-- M4 budget governor — reads totals to compute remaining budget; *stub:* the ledger is usable
-  without M4 (it just records, doesn't enforce).
-- A2 energy driver — potential consumer of cost data for pricing; *stub:* no integration initially.
-
-## 7. Invariants / laws
-- **L1 (C4):** the ledger is **append-only** — no entry is ever mutated or deleted at runtime.
-- **L2 (C4):** **completeness** — every resource expenditure in the economy organ produces a
-  ledger entry; no "off-books" spending.
-- **L3 (C3):** the ledger is **passive** — it records, it never blocks or delays an action.
-  Enforcement is M4's job.
-
-## 8. Build steps
-1. Define `LedgerEntry` shape and the append-only store (in-memory list; consider a ring buffer
-   with a cap if memory is a concern in long sessions).
-2. Wire M2 → M3 (digestion cost recording).
-3. Implement `total` and `entries` queries with filtering.
-4. Optional: flush to disk / log file for post-session audit.
-
-## 9. Tests
-Append: entries accumulate, count matches. Immutability: no mutation API exists. Totals: filtered
-totals match manual sum. Completeness: a mock M2 digestion produces a corresponding ledger entry.
-
-## 10. Open items
-- Whether the ledger scope extends beyond the economy organ to track costs for other organs
-  (MoRAG model calls, SAE compute, Brain inference). Start organ-scoped; expand if needed.
-- Storage cap / eviction policy for very long sessions (ring buffer vs unbounded).
-- Post-session export format (JSON log? CSV?).
diff --git a/core/docs/plans/M3-sims-hub.md b/core/docs/plans/M3-sims-hub.md
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+# M3 — Sims hub (market prediction simulations)
+
+## 1. Component
+The economy organ's prediction engine: **always-running simulations** ("Sims") populated by
+autonomous simulation agents ("Pops") that model market dynamics across multiple mathematical
+domains and time scales. Sims are **queryable at any time** by Traders (M5) — they produce
+**predictions with explicit upper and lower bounds** on every output value. This is the hub spec;
+individual sim types have dedicated sub-specs (M3a–M3g).
+
+The academic foundations span AMM mechanism design [1,2], MEV game theory [3,4,5], macro
+tokenomics via SDEs [6,7], and evolutionary consensus games [8–11].
+
+## 2. Status / certainty
+DESIGN-FIRST · ABSENT. Role C3; implementation C1. Mathematical foundations C4 (literature
+established); specific model parameters C1.
+
+## 3. Language & location
+TBD · `src/economy/sims/`. Numerical computing (Julia, Python/NumPy, Octave, or Rust) for the
+simulation cores. A query facade accessible to Traders. Each sim type (M3a–M3g) may use a
+different runtime suited to its math.
+
+## 4. Does / does-not
+- **Does:** run continuously across multiple time scales (tick-level, hourly, daily, weekly);
+  maintain populations of Pops whose behaviors emerge from the sim's mathematical model; ingest
+  live data from Data Feeds (M2) for calibration; respond to Trader queries with bounded
+  predictions; produce outputs with **explicit upper/lower bounds** on every prediction value.
+- **Does-not:** trade (Traders/Marketplace do); make decisions for traders (it informs, they
+  decide); enforce laws (Marketplace does); supervise behavior (Conductor/SAE do).
+
+## 5. Interface contract
+- `query(sim_type: SimType, query: PredictionQuery) -> BoundedPrediction`.
+  `SimType` ∈ { `statistical`, `sociological`, `amm_liquidity`, `mev_adversarial`,
+  `tokenomics_macro`, `consensus_staking`, `market_microstructure` } (M3a–M3g).
+- `BoundedPrediction { value, lower_bound, upper_bound, confidence, time_horizon, sim_type, timestamp }`.
+  Every output is bounded — no point estimates without uncertainty ranges.
+  Example: `{ value: 7.2, lower_bound: 5.8, upper_bound: 8.9, confidence: 0.73,
+  time_horizon: "4h", sim_type: "amm_liquidity" }`.
+- `status(sim_type?) -> { running, pop_count, last_calibration, data_freshness }` — health check.
+- `calibrate(sim_type, feed_data: [NormalizedDatum])` — Data Feeds (M2) pushes live data for
+  model recalibration.
+
+## 6. Dependencies & stubs
+- M2 Data Feeds — calibration data source; *stub:* canned market data.
+- M5 Traders — query consumers; *stub:* canned queries.
+- M3a–M3g sub-specs — individual sim implementations; *stub:* each returns fixed predictions.
+
+## 7. Invariants / laws
+- **L1 (C5):** sims are **always running** — they are not invoked on demand. Traders query
+  current state; they don't trigger computation.
+- **L2 (C5):** every prediction output includes **explicit upper and lower bounds** — no
+  unbounded point estimates. Uncertainty is a first-class value, not an afterthought.
+- **L3 (C4):** sims are **read-only from traders' perspective** — a query never mutates sim
+  state. Calibration happens only from Data Feeds (M2).
+- **L4 (C4):** each sim type is **independent** — failure in one sim does not cascade to others.
+  Degraded sims report their status; traders handle missing predictions.
+- **L5 (C3):** Pops are **simulation constructs, not AI actors** — they follow mathematical
+  rules within the sim. Traders (M5) are the AI actors.
+
+## 8. Build steps
+1. Define `BoundedPrediction` shape and query protocol.
+2. Build the sim runner (lifecycle management for always-on sims).
+3. Wire M2 Data Feeds → calibration pipeline.
+4. Implement sub-specs M3a–M3g as they land.
+5. Wire trader query interface.
+
+## 9. Tests
+Always-on: sim running after init without external trigger. Bounded output: every prediction has
+lower ≤ value ≤ upper. Query: trader receives prediction without mutating sim. Independence:
+one sim's failure doesn't affect others. Calibration: new data updates model state.
+
+## 10. Open items
+- Pop lifecycle (birth/death/mutation within sims, or fixed populations?).
+- Cross-sim aggregation (do traders query individual sims, or is there a meta-prediction layer?).
+- Calibration frequency per sim type.
+- Computational budget per sim (how much CPU/GPU each can consume).
diff --git a/core/docs/plans/M3a-statistical-sims.md b/core/docs/plans/M3a-statistical-sims.md
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+# M3a — Statistical & quantitative sims
+
+## 1. Component
+Pure statistical simulation: **Monte Carlo methods, Bayesian inference, time-series forecasting,
+and volatility modeling**. The mathematical backbone — no game theory, no sociology, just the
+numbers. Operates across multiple time scales (tick to weekly). Pops in this sim represent
+**stochastic sample paths**, not behavioral agents.
+
+## 2. Status / certainty
+DESIGN-FIRST · ABSENT. Mathematical foundations C4 (standard quant methods); parameterization C1.
+
+## 3. Language & location
+TBD · `src/economy/sims/statistical/`. Python (NumPy/SciPy), Julia, or R for numerical
+computing. Needs efficient matrix operations and distribution sampling.
+
+## 4. Does / does-not
+- **Does:** run Monte Carlo price simulations (geometric Brownian motion, jump-diffusion);
+  Bayesian parameter estimation from live data (M2); time-series forecasting (ARIMA, GARCH for
+  volatility clustering); Value-at-Risk and Expected Shortfall calculations; produce bounded
+  predictions with confidence intervals as upper/lower bounds.
+- **Does-not:** model human behavior (M3b does); model protocol mechanics (M3c–M3f do);
+  trade or recommend (Traders do).
+
+## 5. Interface contract
+- Implements `query(PredictionQuery) -> BoundedPrediction` per M3 hub.
+- **Output bounds:** statistical confidence intervals.
+  Example: `{ value: 1847.30, lower_bound: 1790.15, upper_bound: 1905.60, confidence: 0.95,
+  time_horizon: "24h", sim_type: "statistical" }` — 95% CI on ETH price.
+- **Prediction types:** `price_forecast`, `volatility_estimate`, `var_calculation`,
+  `correlation_matrix`, `regime_detection`.
+- Calibration: ingests `price_tick` and `dex_pool_state` from M2 Data Feeds.
+
+## 6. Dependencies & stubs
+- M2 Data Feeds — price history for calibration; *stub:* canned price series.
+- M3 Sims hub — lifecycle management; *stub:* manual init.
+
+## 7. Invariants / laws
+- **L1 (C4):** bounds are **statistical confidence intervals** — derived from the model's
+  distribution, not hand-picked. The confidence level (e.g. 0.95) is explicit in the output.
+- **L2 (C4):** **multiple time scales run concurrently** — a tick-level volatility estimate and a
+  weekly price forecast coexist; neither blocks the other.
+- **L3 (C3):** model parameters are **re-estimated on each calibration** from live data — no
+  stale parameters carried across regime changes.
+
+## 8. Build steps
+1. Implement geometric Brownian motion Monte Carlo (simplest price sim).
+2. Add GARCH volatility estimation.
+3. Wire M2 price data → Bayesian parameter re-estimation.
+4. Implement the `BoundedPrediction` output with CIs.
+
+## 9. Tests
+Monte Carlo: N sample paths produce a distribution with correct mean/variance. CI: 95% interval
+contains true value ≥ 95% of the time on historical backtest. GARCH: volatility clusters detected
+in synthetic data. Calibration: new data shifts parameter estimates.
+
+## 10. Open items
+- Which distributions beyond GBM (heavy-tailed? Lévy?).
+- Regime-switching model complexity (hidden Markov? threshold?).
+- Computational budget (how many Monte Carlo paths per tick?).
diff --git a/core/docs/plans/M3b-sociological-sims.md b/core/docs/plans/M3b-sociological-sims.md
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+# M3b — Sociological & population dynamics sims
+
+## 1. Component
+Sociological simulation: **evolutionary game theory, bounded rationality, sentiment cascades, and
+population dynamics** among market participants. Pops here are **behavioral archetypes** — retail
+herd followers, contrarian whales, MEV searchers, passive LPs — whose strategies evolve under
+selection pressure. Grounded in evolutionary consensus game models [8,9] and bounded-rationality
+coordination frameworks.
+
+## 2. Status / certainty
+DESIGN-FIRST · ABSENT. Evolutionary game-theory foundations C4 (Cornell blockchain cooperation
+literature [8]); pop behavioral models C1.
+
+## 3. Language & location
+TBD · `src/economy/sims/sociological/`. Agent-based modeling frameworks (Mesa/Python, NetLogo,
+or custom). Needs efficient population iteration and strategy mutation.
+
+## 4. Does / does-not
+- **Does:** simulate populations of behavioral archetypes competing in a market; apply
+  evolutionary dynamics (replicator equation, mutation, selection) to strategy distributions;
+  model sentiment cascades (fear/greed contagion across pop clusters); model bounded rationality
+  (pops satisfice, not optimize — they follow heuristics, not perfect strategies); produce
+  bounded predictions on market sentiment, herd behavior thresholds, and coordination breakdowns.
+- **Does-not:** model protocol mechanics (M3c–M3f); compute statistical forecasts (M3a);
+  represent real individuals (pops are archetypes, not profiles).
+
+## 5. Interface contract
+- Implements `query(PredictionQuery) -> BoundedPrediction` per M3 hub.
+- **Output bounds:** population-fraction ranges and sentiment scales.
+  Example: `{ value: 7.3, lower_bound: 5.0, upper_bound: 9.1, confidence: 0.68,
+  time_horizon: "12h", sim_type: "sociological" }` — herd-panic index on a 0–10 scale.
+  Example: `{ value: 0.42, lower_bound: 0.31, upper_bound: 0.55, confidence: 0.72,
+  time_horizon: "1w", sim_type: "sociological" }` — fraction of pops in "contrarian" strategy.
+- **Prediction types:** `sentiment_index`, `herd_threshold`, `strategy_distribution`,
+  `cascade_probability`, `coordination_stability`.
+- Calibration: ingests `rss_news` (sentiment signal) and `price_tick` (realized behavior) from M2.
+
+## 6. Dependencies & stubs
+- M2 Data Feeds — sentiment and price data for calibration; *stub:* canned sentiment series.
+- M3 Sims hub — lifecycle management; *stub:* manual init.
+
+## 7. Invariants / laws
+- **L1 (C4):** pops are **archetypes, not individuals** — no attempt to model or track real
+  market participants. The sim models emergent behavior from strategy populations.
+- **L2 (C4):** strategies **evolve** — the population distribution shifts over time via
+  replicator dynamics. No fixed strategy ratios.
+- **L3 (C3):** bounded rationality is the **default** — pops satisfice with heuristics, not
+  optimize with perfect information. Rational-agent models are a special case, not the baseline.
+
+## 8. Build steps
+1. Define pop archetypes and their heuristic strategies.
+2. Implement replicator dynamics (strategy evolution over generations).
+3. Implement sentiment contagion model (network-based cascade).
+4. Wire M2 news/price data → calibration of pop parameters.
+5. Implement `BoundedPrediction` output with population-fraction CIs.
+
+## 9. Tests
+Evolution: dominant strategy shifts when payoff landscape changes. Cascade: sentiment shock
+propagates through pop network above threshold, not below. Bounded rationality: satisficing pop
+underperforms optimizer in simple games but outperforms in noisy environments. Bounds: all
+outputs include upper/lower.
+
+## 10. Open items
+- Pop archetype catalog (which behavioral types? how many?).
+- Network topology for sentiment contagion (small-world? scale-free?).
+- Calibration from real market data — how to infer pop distribution from observable price action.
+- Cross-sim interaction: do sociological predictions feed into M3c (AMM) or M3d (MEV)?
diff --git a/core/docs/plans/M3c-amm-liquidity-sims.md b/core/docs/plans/M3c-amm-liquidity-sims.md
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+# M3c — AMM & liquidity pool sims
+
+## 1. Component
+Automated Market Maker simulation: models **constant-product invariant mechanics, impermanent
+loss, and the non-cooperative game between liquidity providers and arbitrageurs**. Pops here are
+**LP positions and arbitrage bots** operating on the $x \cdot y = k$ curve. Grounded in the DEX/AMM
+literature [1,2].
+
+## 2. Status / certainty
+DESIGN-FIRST · ABSENT. Mathematical foundations C5 (constant product invariant is proven);
+impermanent loss formula C5 (closed-form: $\text{IL}(r) = \frac{2\sqrt{r}}{1+r} - 1$);
+simulation parameterization C1.
+
+## 3. Language & location
+TBD · `src/economy/sims/amm/`. Needs precise fixed-point or arbitrary-precision arithmetic for
+invariant calculations (Solidity-equivalent precision). Python, Rust, or Julia.
+
+## 4. Does / does-not
+- **Does:** simulate constant-product pools with fee parameter $\gamma$:
+  $(x + \gamma \Delta x)(y - \Delta y) = k$; model impermanent loss as a function of price ratio
+  shift $r$; simulate LP strategies (provide, withdraw, rebalance) against arbitrageur behavior;
+  model non-linear price slippage from the curve geometry; produce bounded predictions on pool
+  profitability, IL risk, and optimal LP ranges.
+- **Does-not:** model consensus mechanics (M3f); model social behavior (M3b); execute real swaps
+  (Marketplace does).
+
+## 5. Interface contract
+- Implements `query(PredictionQuery) -> BoundedPrediction` per M3 hub.
+- **Output bounds:** IL ranges and pool return intervals.
+  Example: `{ value: -0.034, lower_bound: -0.058, upper_bound: -0.012, confidence: 0.90,
+  time_horizon: "7d", sim_type: "amm_liquidity" }` — projected impermanent loss for ETH/USDC pool.
+  Example: `{ value: 0.082, lower_bound: 0.041, upper_bound: 0.127, confidence: 0.85,
+  time_horizon: "30d", sim_type: "amm_liquidity" }` — net LP return (fees − IL).
+- **Prediction types:** `impermanent_loss`, `pool_return`, `optimal_range`, `slippage_estimate`,
+  `lp_withdrawal_threshold`.
+- Calibration: ingests `dex_pool_state` and `price_tick` from M2.
+
+## 6. Dependencies & stubs
+- M2 Data Feeds — pool state and price data; *stub:* canned pool snapshots.
+- M3 Sims hub — lifecycle management; *stub:* manual init.
+
+## 7. Invariants / laws
+- **L1 (C5):** the **constant product invariant** $x \cdot y = k$ (adjusted for fees $\gamma$)
+  is the ground truth — all pool state transitions must satisfy the invariant or the sim is wrong.
+- **L2 (C5):** **impermanent loss** follows the proven formula
+  $\text{IL}(r) = \frac{2\sqrt{r}}{1+r} - 1$ — the sim must reproduce this exactly for the
+  base case (no fees, no concentrated liquidity).
+- **L3 (C4):** LP withdrawal thresholds are **derived from IL, not hardcoded** — the sim
+  calculates at what price ratio a rational LP withdraws, based on the IL formula and fee income.
+
+## 8. Build steps
+1. Implement the constant-product pool simulator with fee parameter.
+2. Verify IL formula reproduction against known inputs.
+3. Add LP pop strategies (passive hold, active rebalance, just-in-time liquidity).
+4. Add arbitrageur pops (sandwich, backrun).
+5. Wire M2 pool state data → calibration.
+
+## 9. Tests
+Invariant: every swap satisfies $(x + \gamma \Delta x)(y - \Delta y) = k$. IL formula: matches
+closed-form for known price ratios. Slippage: large swaps produce greater slippage than small.
+LP threshold: LP withdraws when IL exceeds fee income. Bounds: all outputs bounded.
+
+## 10. Open items
+- Concentrated liquidity (Uniswap v3 style) — extends the base model significantly.
+- Multi-pool routing (split swaps across pools).
+- Which specific pools to simulate (ETH/USDC? stablecoin pairs?).
diff --git a/core/docs/plans/M3d-mev-adversarial-sims.md b/core/docs/plans/M3d-mev-adversarial-sims.md
new file mode 100644
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+# M3d — MEV & adversarial extraction sims
+
+## 1. Component
+Maximal Extractable Value simulation: models **transaction ordering as an optimization problem**,
+**Priority Gas Auctions (PGA) as all-pay auctions**, and **block building as a multidimensional
+knapsack problem**. Pops here are **searcher bots, block builders, and validators** competing for
+extractable value. Grounded in ACM MEV game theory [3] and knapsack auction literature [4,5].
+
+## 2. Status / certainty
+DESIGN-FIRST · ABSENT. PGA-as-all-pay-auction model C4 (ACM [3]); knapsack formulation C4
+(Cornell [4,5]); simulation parameterization C1.
+
+## 3. Language & location
+TBD · `src/economy/sims/mev/`. Needs combinatorial optimization (for knapsack) and continuous-time
+auction modeling. Python (PuLP/OR-Tools for optimization), Rust, or Julia.
+
+## 4. Does / does-not
+- **Does:** simulate Priority Gas Auctions where multiple searcher bots compete for the same
+  arbitrage opportunity $V$ by bidding gas fees $g$ in a continuous-time all-pay auction; model
+  block building as a multidimensional knapsack problem (scarce block space, heterogeneous
+  transaction values/sizes); simulate endogenous selection cutoffs under paid-priority ordering;
+  predict MEV exposure for proposed trades; produce bounded predictions on extraction risk and
+  optimal gas strategies.
+- **Does-not:** extract MEV itself (this is a simulator, not a searcher); model AMM mechanics
+  (M3c handles pool math); model social dynamics (M3b).
+
+## 5. Interface contract
+- Implements `query(PredictionQuery) -> BoundedPrediction` per M3 hub.
+- **Output bounds:** extraction probability ranges and gas cost intervals.
+  Example: `{ value: 0.23, lower_bound: 0.11, upper_bound: 0.38, confidence: 0.80,
+  time_horizon: "next_block", sim_type: "mev_adversarial" }` — probability this trade gets
+  sandwiched.
+  Example: `{ value: 14.7, lower_bound: 8.2, upper_bound: 22.5, confidence: 0.75,
+  time_horizon: "next_block", sim_type: "mev_adversarial" }` — optimal gas bid (gwei) for
+  a given opportunity.
+- **Prediction types:** `sandwich_probability`, `frontrun_risk`, `optimal_gas_bid`,
+  `block_inclusion_probability`, `mev_exposure`.
+- Calibration: ingests `on_chain_event` (mempool-like data) and `price_tick` from M2.
+
+## 6. Dependencies & stubs
+- M2 Data Feeds — on-chain events and gas data; *stub:* canned mempool snapshots.
+- M3 Sims hub — lifecycle management; *stub:* manual init.
+- M3c AMM sims — pool state for arbitrage opportunity detection; *stub:* fixed pool state.
+
+## 7. Invariants / laws
+- **L1 (C4):** PGA is modeled as an **all-pay auction** — all bidders pay their gas whether they
+  win or not. The sim must capture this cost structure (not winner-pays-only).
+- **L2 (C4):** block building is a **knapsack problem, not a queue** — builders optimize for
+  total extracted value subject to gas limit constraints, not first-come-first-served.
+- **L3 (C3):** MEV exposure predictions are **pre-trade** — traders query this sim *before*
+  submitting to the Marketplace to understand their extraction risk.
+
+## 8. Build steps
+1. Implement the PGA all-pay auction model (N searchers, opportunity value V, gas bids).
+2. Implement the block-building knapsack solver.
+3. Add sandwich/frontrun detection heuristics.
+4. Wire M2 on-chain data → calibration of searcher population and gas dynamics.
+5. Wire pre-trade query interface for Traders.
+
+## 9. Tests
+All-pay: losing bidders still pay gas cost. Knapsack: builder selects optimal transaction set
+under gas limit. Sandwich: known sandwich-vulnerable trade flagged; non-vulnerable trade clear.
+Bounds: all outputs bounded. Pre-trade: query does not submit any transaction.
+
+## 10. Open items
+- Mempool data access (public mempool? private order flow?).
+- Which MEV types to model initially (sandwich, backrun, liquidation, JIT?).
+- Multi-block MEV (cross-block extraction strategies).
+- Integration with M3c (arbitrage opportunities arise from AMM pool state).
diff --git a/core/docs/plans/M3e-tokenomics-macro-sims.md b/core/docs/plans/M3e-tokenomics-macro-sims.md
new file mode 100644
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@@ -0,0 +1,72 @@
+# M3e — Tokenomics & macro-state sims
+
+## 1. Component
+Macro-level token economy simulation: models **token supply dynamics, monetary policy (halvings,
+burns, inflation), and systemic stock-flow balances** using stochastic differential equations
+(SDEs) and state-space models. Pops here are **aggregate behavioral cohorts** (miners/validators,
+holders, speculators, protocol treasuries) whose collective behavior drives token-level dynamics.
+Grounded in the Vienna University complex-systems token modeling [7] and ResearchGate engineering
+token economy frameworks [6].
+
+## 2. Status / certainty
+DESIGN-FIRST · ABSENT. SDE state-space framework C4 (Vienna [7]); stock-flow modeling C4
+(ResearchGate [6]); specific token model parameters C1.
+
+## 3. Language & location
+TBD · `src/economy/sims/tokenomics/`. Needs SDE solvers (Euler-Maruyama, Milstein) and
+state-space estimation. Julia (DifferentialEquations.jl), Python (scipy), or Octave.
+
+## 4. Does / does-not
+- **Does:** simulate token state dynamics via the SDE framework:
+  $dX_t = f(X_t, u(X_t, t), t)dt + \sigma(X_t, t)dW_t$ where $X_t$ is the system state vector,
+  $u$ is the behavioral policy function, deterministic drift captures programmatic parameters
+  (halvings, burns), and Brownian motion $\sigma dW_t$ captures stochastic behavioral shocks;
+  model stock-flow balances (circulating supply, staked, locked, burned); simulate monetary
+  policy impacts (halving events, fee burns, treasury emissions); produce bounded predictions
+  on token supply trajectories, inflation rates, and velocity.
+- **Does-not:** model individual transactions (M3c/M3d); model social sentiment (M3b);
+  model consensus mechanics (M3f).
+
+## 5. Interface contract
+- Implements `query(PredictionQuery) -> BoundedPrediction` per M3 hub.
+- **Output bounds:** SDE confidence bands (derived from the stochastic component $\sigma dW_t$).
+  Example: `{ value: 2.1, lower_bound: 1.4, upper_bound: 3.2, confidence: 0.90,
+  time_horizon: "90d", sim_type: "tokenomics_macro" }` — annualized inflation rate (%).
+  Example: `{ value: 0.67, lower_bound: 0.58, upper_bound: 0.74, confidence: 0.85,
+  time_horizon: "30d", sim_type: "tokenomics_macro" }` — staking ratio (fraction of supply).
+- **Prediction types:** `supply_trajectory`, `inflation_rate`, `staking_ratio`,
+  `velocity_estimate`, `halving_impact`, `treasury_runway`.
+- Calibration: ingests `on_chain_event` (supply metrics, staking data) from M2.
+
+## 6. Dependencies & stubs
+- M2 Data Feeds — on-chain supply/staking data; *stub:* canned supply snapshots.
+- M3 Sims hub — lifecycle management; *stub:* manual init.
+
+## 7. Invariants / laws
+- **L1 (C4):** the SDE framework is the **canonical representation** — all token dynamics are
+  expressed as drift + diffusion. Deterministic policy (halvings, burns) lives in the drift $f$;
+  behavioral uncertainty lives in the diffusion $\sigma dW_t$.
+- **L2 (C4):** **stock-flow conservation** — tokens are never created or destroyed outside the
+  protocol's defined mechanisms. The sim must balance: circulating + staked + locked + burned =
+  total ever minted.
+- **L3 (C3):** macro sims operate on **aggregate cohorts, not individuals** — the state vector
+  $X_t$ tracks population-level quantities (total staked, total circulating), not per-wallet.
+
+## 8. Build steps
+1. Implement Euler-Maruyama SDE solver for a simple token model (supply + staking).
+2. Define the state vector $X_t$ and drift/diffusion functions for a reference token.
+3. Add stock-flow accounting (verify conservation).
+4. Wire M2 on-chain data → state estimation / calibration.
+5. Add monetary policy events (halving, burn) as drift discontinuities.
+
+## 9. Tests
+SDE: sample paths have correct mean (matches drift) and variance (matches diffusion). Stock-flow:
+conservation holds across all time steps. Halving: supply growth rate drops at halving event.
+Calibration: state estimate converges to observed data. Bounds: SDE confidence bands correctly
+cover realized paths on backtest.
+
+## 10. Open items
+- Which tokens to model initially (ETH? BTC? a specific alt?).
+- State vector dimensionality (how many state variables per token model?).
+- Behavioral policy function $u(X_t, t)$ — how to parameterize aggregate cohort behavior.
+- Multi-token interactions (correlated diffusions across tokens?).
diff --git a/core/docs/plans/M3f-consensus-staking-sims.md b/core/docs/plans/M3f-consensus-staking-sims.md
new file mode 100644
index 0000000..bb3e06a
--- /dev/null
+++ b/core/docs/plans/M3f-consensus-staking-sims.md
@@ -0,0 +1,72 @@
+# M3f — Consensus & staking game sims
+
+## 1. Component
+Consensus-layer simulation: models **Proof-of-Stake validation dynamics, staking pool game theory,
+and Byzantine fault tolerance** using evolutionary games and Markov chains. Pops here are
+**validators and staking pool operators** whose honesty is a dynamic, evolving strategy under
+financial incentives. Grounded in Cornell evolutionary consensus [8,9], ACM staking pool risk
+theorems [10], and Monash dynamic PBFT modeling [11].
+
+## 2. Status / certainty
+DESIGN-FIRST · ABSENT. Evolutionary PoS game theory C4 (Cornell [8]); staking pool Nash
+equilibrium proofs C4 (ACM [10]); Markov chain throughput models C4 (Monash [11]);
+simulation parameterization C1.
+
+## 3. Language & location
+TBD · `src/economy/sims/consensus/`. Needs Markov chain solvers and game-theoretic equilibrium
+computation. Python, Julia, or R.
+
+## 4. Does / does-not
+- **Does:** simulate validator populations where honesty evolves via **evolutionary game theory**
+  under bounded rationality [8]; model staking pool delegation as a game with proven reward-
+  parameter thresholds enforcing subgame-perfect Nash equilibria favoring honest validation over
+  malicious slashing [10]; simulate **throughput stability under shifting validator states** via
+  Markov chains [11]; predict slashing risk, validator set stability, and staking yield; produce
+  bounded predictions on consensus health and staking returns.
+- **Does-not:** validate blocks (this is a simulator); model AMM pools (M3c); model token supply
+  (M3e — but consumes staking ratio from M3e as input).
+
+## 5. Interface contract
+- Implements `query(PredictionQuery) -> BoundedPrediction` per M3 hub.
+- **Output bounds:** equilibrium stability ranges and yield intervals.
+  Example: `{ value: 0.89, lower_bound: 0.82, upper_bound: 0.94, confidence: 0.88,
+  time_horizon: "7d", sim_type: "consensus_staking" }` — fraction of validators honest in
+  equilibrium.
+  Example: `{ value: 4.2, lower_bound: 3.6, upper_bound: 5.1, confidence: 0.82,
+  time_horizon: "30d", sim_type: "consensus_staking" }` — annualized staking yield (%).
+- **Prediction types:** `validator_honesty_fraction`, `slashing_probability`, `staking_yield`,
+  `pool_delegation_equilibrium`, `throughput_stability`, `consensus_liveness`.
+- Calibration: ingests `on_chain_event` (validator set changes, slashing events) from M2.
+
+## 6. Dependencies & stubs
+- M2 Data Feeds — validator/staking on-chain data; *stub:* canned validator snapshots.
+- M3e Tokenomics — staking ratio as macro input; *stub:* fixed ratio.
+- M3 Sims hub — lifecycle management; *stub:* manual init.
+
+## 7. Invariants / laws
+- **L1 (C4):** validator honesty is a **dynamic equilibrium, not a fixed parameter** — it evolves
+  via replicator dynamics as payoffs change. The sim must not assume fixed honesty rates.
+- **L2 (C4):** the staking pool reward threshold is **mathematically derived** — the sim must
+  reproduce the subgame-perfect Nash equilibrium from the ACM proofs [10], not use ad-hoc
+  thresholds.
+- **L3 (C4):** throughput is modeled as a **Markov chain** over validator states (active, pending,
+  slashed, exited) — transitions are stochastic with rates calibrated from on-chain data [11].
+
+## 8. Build steps
+1. Implement the evolutionary honesty game (replicator dynamics, bounded rationality).
+2. Implement the Markov chain validator-state model.
+3. Reproduce the staking pool Nash equilibrium reward threshold from [10].
+4. Wire M2 validator data → calibration of transition rates.
+5. Wire M3e staking ratio input.
+
+## 9. Tests
+Equilibrium: honesty fraction converges to Nash equilibrium under stable payoffs. Markov:
+stationary distribution matches expected validator state proportions. Threshold: pool delegation
+equilibrium matches the ACM proof for test parameters. Bounds: all outputs bounded. Liveness:
+throughput degrades when honest fraction drops below threshold.
+
+## 10. Open items
+- Which PoS protocol to model initially (Ethereum? a specific L2?).
+- Bounded rationality implementation (noisy best-response? epsilon-greedy? logit?).
+- Slashing severity parameterization.
+- Cross-sim: does consensus instability feed into M3b sociological panic signals?
diff --git a/core/docs/plans/M3g-market-microstructure-sims.md b/core/docs/plans/M3g-market-microstructure-sims.md
new file mode 100644
index 0000000..18bc84a
--- /dev/null
+++ b/core/docs/plans/M3g-market-microstructure-sims.md
@@ -0,0 +1,70 @@
+# M3g — Market microstructure sims
+
+## 1. Component
+Market microstructure simulation: models **order flow, liquidity depth, slippage, spread dynamics,
+and cross-exchange arbitrage** at the fastest time scales (tick-level to hourly). Pops here are
+**market makers, takers, and arbitrageurs** interacting across multiple venues. The sim that
+operates at the highest temporal resolution — where M3a provides statistical forecasts and M3c
+models pool mechanics, M3g models the *plumbing* of how orders actually execute.
+
+## 2. Status / certainty
+DESIGN-FIRST · ABSENT. Order-book microstructure theory C4 (established academic field);
+DEX-specific microstructure C2 (emerging). Implementation C1.
+
+## 3. Language & location
+TBD · `src/economy/sims/microstructure/`. Needs high-frequency data handling and event-driven
+simulation. Rust, C++, or Python with optimized event loop.
+
+## 4. Does / does-not
+- **Does:** simulate order flow across venues (DEXs and CEXs); model bid-ask spread dynamics as a
+  function of inventory risk and adverse selection; simulate slippage curves for various order
+  sizes; model cross-exchange arbitrage opportunities and their decay; operate at **tick-level
+  resolution** (sub-second to minute); produce bounded predictions on execution quality, optimal
+  routing, and liquidity conditions.
+- **Does-not:** model protocol consensus (M3f); model macro token supply (M3e); model social
+  behavior (M3b); execute trades (Marketplace does).
+
+## 5. Interface contract
+- Implements `query(PredictionQuery) -> BoundedPrediction` per M3 hub.
+- **Output bounds:** execution cost ranges and liquidity intervals.
+  Example: `{ value: 0.0034, lower_bound: 0.0018, upper_bound: 0.0052, confidence: 0.85,
+  time_horizon: "next_trade", sim_type: "market_microstructure" }` — expected slippage (%) for a
+  10 ETH market sell.
+  Example: `{ value: 12400, lower_bound: 8200, upper_bound: 18600, confidence: 0.78,
+  time_horizon: "1h", sim_type: "market_microstructure" }` — available depth (USD) within 50bps
+  of mid.
+- **Prediction types:** `slippage_estimate`, `spread_forecast`, `depth_profile`,
+  `cross_venue_arb`, `optimal_execution_route`, `liquidity_score`.
+- Calibration: ingests `price_tick`, `dex_pool_state`, and `execution_fill` from M2.
+
+## 6. Dependencies & stubs
+- M2 Data Feeds — tick data and pool state; *stub:* canned order book snapshots.
+- M3c AMM sims — pool mechanics for DEX venues; *stub:* fixed pool state.
+- M3 Sims hub — lifecycle management; *stub:* manual init.
+
+## 7. Invariants / laws
+- **L1 (C4):** microstructure operates at the **highest temporal resolution** — predictions are
+  valid for seconds to hours, not days. Stale microstructure data is worse than no data.
+- **L2 (C4):** slippage is a **function of order size and current depth** — not a fixed
+  percentage. The sim must model the non-linear relationship.
+- **L3 (C3):** cross-venue arbitrage opportunities **decay** — the sim models the time-to-close
+  of an arb opportunity, not just its existence.
+
+## 8. Build steps
+1. Implement a simplified order-book simulator (limit orders, market orders, cancels).
+2. Add spread dynamics (inventory-based market maker model).
+3. Add slippage curves (order size → execution cost).
+4. Add cross-venue arb detection and decay modeling.
+5. Wire M2 tick data → calibration.
+
+## 9. Tests
+Slippage: larger orders produce greater slippage. Spread: spread widens under adverse selection.
+Arb decay: detected arb opportunity closes over time. Depth: depth profile matches order book
+state. Bounds: all outputs bounded. Resolution: predictions update at tick frequency.
+
+## 10. Open items
+- CEX order book data access (API limitations, costs).
+- DEX-specific microstructure (AMM pools don't have order books — translate pool state to
+  equivalent depth/spread).
+- Latency modeling (how fast can our traders actually reach an arb?).
+- Which venues to model initially.
diff --git a/core/docs/plans/M4-budget-governor.md b/core/docs/plans/M4-budget-governor.md
deleted file mode 100644
index 34c2b2b..0000000
--- a/core/docs/plans/M4-budget-governor.md
+++ /dev/null
@@ -1,66 +0,0 @@
-# M4 — Budget governor
-
-## 1. Component
-The stomach's CFO: **sets, allocates, and enforces** resource budgets. Decides whether a proposed
-expenditure (digestion, retrieval, exchange) is affordable given what's already been spent (M3)
-and what's been allocated. Emits **price signals** to A2 (energy driver) so the per-tool economy
-reflects real resource scarcity.
-
-## 2. Status / certainty
-DESIGN-FIRST · ABSENT. A2 has a per-tool cost/lockout system but it tracks internal energy, not
-external resource budgets. The two are complementary: A2 = activation/rest; M4 = tokens/compute
-spend. Role C2; implementation C1.
-
-## 3. Language & location
-TBD · `src/economy/budget/` or similar. Must interop with M3 (ledger reads) and A2 (price signal
-emission). Likely same language as M3 for tight integration.
-
-## 4. Does / does-not
-- **Does:** hold a session budget (total resources available); check proposed costs against
-  remaining budget (`check_budget`); emit price signals to A2 so tool costs reflect real scarcity;
-  implement **degradation tiers** — when budget is ample, digest fully; when tight, digest
-  shallowly or defer bulk input (M1 priority system).
-- **Does-not:** record costs (M3 does); perform digestion (M2 does); lock tools (A2 does that
-  based on energy, though M4's price signals influence A2's cost landscape); police traffic (D1).
-
-## 5. Interface contract
-- `init_budget(session_budget: num, resource_type: ResourceType) -> BudgetState`.
-- `check_budget(proposed_cost: num, resource_type: ResourceType) -> { allowed:bool, remaining:num, tier:DegradationTier }`.
-  `DegradationTier` ∈ { `full`, `shallow`, `deferred` } — signals to M2 how deeply to digest.
-- `price_signal(tool_id) -> { resource_cost:num, scarcity_factor:num }` — emitted to A2; the
-  scarcity factor scales with budget depletion (1.0 = ample, >1.0 = scarce, costs feel heavier).
-- `remaining() -> { budget:num, spent:num, pct_remaining:num }` — reads M3 totals.
-
-## 6. Dependencies & stubs
-- M3 cost ledger — reads totals for remaining budget calculation; *stub:* returns zero spent.
-- A2 energy driver — consumes price signals; *stub:* print signals.
-- M1 ingestion — M1 checks budget before forwarding to M2; *stub:* always-allow.
-- M2 digestion core — receives `DegradationTier` to adjust digestion depth.
-
-## 7. Invariants / laws
-- **L1 (C4):** budget enforcement is a **soft gate, not a hard wall** — when budget is exhausted,
-  digestion degrades (shallower summaries, deferred bulk) rather than halting. The organ never
-  stops entirely; it economizes harder. Mirrors A2-L2 (no unrecoverable state) and A2-L3
-  (lockout is a breaker, not a sentence).
-- **L2 (C3):** price signals are **monotonically scarcer** as budget depletes — the scarcity
-  factor never decreases within a session (costs only feel heavier as resources dwindle). Resets
-  only on budget replenishment.
-- **L3 (C3):** degradation tiers are **transparent** — the tier is carried in the contract so
-  downstream (M2, M5) knows the digestion was shallow and can annotate accordingly.
-
-## 8. Build steps
-1. Define `BudgetState` and the degradation tiers.
-2. Implement `check_budget` against M3 totals.
-3. Implement `price_signal` emission to A2 (define the scarcity factor curve — invariants-first).
-4. Wire M1 → M4 → M2 (budget check before digestion, tier passed to digestion).
-
-## 9. Tests
-Budget arithmetic: spent + remaining = total. Degradation tiers: each tier triggers at the correct
-budget percentage. Price signals: scarcity factor increases as budget depletes. Soft gate: zero
-budget produces `deferred` tier, not an error.
-
-## 10. Open items
-- Session budget source — who sets it? Hardcoded? Config? Dynamically adjusted? (C1).
-- Degradation tier thresholds (C1) — at what % remaining does `full` → `shallow` → `deferred`?
-- The scarcity factor curve shape (C1) — linear? exponential? Needs invariants-first fitting.
-- Whether budget replenishment is possible mid-session (ties to A2 restoration model / A8 ETR).
diff --git a/core/docs/plans/M4-wallets.md b/core/docs/plans/M4-wallets.md
new file mode 100644
index 0000000..45a5a4d
--- /dev/null
+++ b/core/docs/plans/M4-wallets.md
@@ -0,0 +1,74 @@
+# M4 — Wallets (sovereign custody)
+
+## 1. Component
+The economy organ's vault: **sovereign, local-hosted, our-custody-only cryptocurrency wallets**.
+Each wallet binds to exactly one Trader (M5) — a trader without a wallet cannot access the
+Marketplace (M1). Wallets hold keys, sign transactions, and enforce wallet-level spending limits.
+Tax is collected on trader income and routed to the Verschwörern Veregeister wallets (stub — M0).
+
+## 2. Status / certainty
+DESIGN-FIRST · ABSENT. Role C4 (sovereign custody is a hard requirement); implementation C1.
+
+## 3. Language & location
+TBD · `src/economy/wallets/`. Needs cryptographic key management (secp256k1 for EVM, ed25519 for
+Solana, etc.), HD derivation, and transaction signing. Rust or Go for crypto primitives; Python
+with web3 libs for prototyping.
+
+## 4. Does / does-not
+- **Does:** generate and store private keys locally (never transmitted); sign transactions on
+  behalf of the bound trader; enforce per-wallet spending limits (daily, per-transaction);
+  track wallet balance and transaction history; collect tax on realized income and stage for
+  transfer to Verschwörern Veregeister wallets; bind 1:1 to a Trader (M5).
+- **Does-not:** decide what to trade (Trader decides); route to chain (Marketplace does);
+  hold keys for the organism's other wallets (Verschwörern Veregeister are separate); delegate
+  custody to any third party — ever.
+
+## 5. Interface contract
+- `create_wallet(chain: Chain, trader_id) -> wallet_id` — generates keys, binds to trader.
+- `sign(wallet_id, tx: UnsignedTransaction) -> SignedTransaction` — signs with the wallet's key.
+  Only the bound trader (via Marketplace) can request signing.
+- `balance(wallet_id) -> { chain, assets: [{ token, amount }] }`.
+- `spending_check(wallet_id, amount) -> { allowed:bool, remaining_daily:num }`.
+- `tax_collect(wallet_id, income_amount) -> { tax_amount, receipt }` — computes and stages tax.
+- `transfer_tax_stub(source_wallet, dest_wallet, amount) -> receipt` — **STUB** for future
+  Verschwörern Veregeister internal transfer. Logs only; does not execute.
+- `Chain` ∈ { `evm`, `solana`, `bitcoin`, … } — extensible.
+
+## 6. Dependencies & stubs
+- M5 Traders — 1:1 binding; *stub:* canned trader ID.
+- M1 Marketplace — signing requests come through marketplace only; *stub:* direct sign call.
+- Blockchain nodes — balance queries and tx broadcast; *stub:* simulated chain state.
+- Verschwörern Veregeister wallets — tax destination; *stub:* log transfer.
+
+## 7. Invariants / laws
+- **L1 (C5):** **sovereign custody only** — private keys are generated locally, stored locally,
+  and **never leave the wallet**. No custodial service, no exchange deposit, no MPC with external
+  parties. Our keys, our coins.
+- **L2 (C5):** **1:1 trader binding** — each wallet is bound to exactly one trader. A trader
+  cannot use another trader's wallet. The Marketplace enforces this.
+- **L3 (C4):** **signing requires Marketplace routing** — a wallet will not sign a transaction
+  that didn't come through the Marketplace harness (M1-L1). No direct signing API for traders.
+- **L4 (C4):** **spending limits are wallet-level** — independent of Conductor or Marketplace
+  limits. Defense in depth: even if other controls fail, the wallet itself caps exposure.
+- **L5 (C4):** **tax collection is automatic** — realized income triggers tax staging. The trader
+  cannot opt out.
+
+## 8. Build steps
+1. Implement key generation and secure local storage (encrypted keystore).
+2. Implement transaction signing for one chain (start with EVM/secp256k1).
+3. Implement trader binding and Marketplace-only signing enforcement.
+4. Implement spending limits (daily cap, per-tx cap).
+5. Implement tax calculation and staging stub.
+
+## 9. Tests
+Custody: private key never appears in any API response or log. Binding: wrong trader cannot
+sign. Marketplace-only: direct sign request (not via Marketplace) rejected. Spending limit:
+over-limit transaction rejected. Tax: income event triggers correct tax amount. Multi-chain:
+EVM and one other chain produce valid signatures.
+
+## 10. Open items
+- Key storage format (encrypted JSON keystore? OS keyring? HSM for production?).
+- Which chains to support initially.
+- Spending limit configuration (hardcoded? per-trader? adjustable by Conductor?).
+- Tax rate and calculation method.
+- Key rotation / backup strategy.
diff --git a/core/docs/plans/M5-context-yield.md b/core/docs/plans/M5-context-yield.md
deleted file mode 100644
index 74c898e..0000000
--- a/core/docs/plans/M5-context-yield.md
+++ /dev/null
@@ -1,73 +0,0 @@
-# M5 — Context yield (absorption)
-
-## 1. Component
-The stomach's output shaper: takes `DigestedContext` from M2 and **packages it into the form Ada
-(D1) expects** — an Ichor `Envelope` with the right shape, provenance metadata (M6), and
-degradation annotations. This is the absorption step: what the organism actually absorbs from
-what was digested.
-
-## 2. Status / certainty
-DESIGN-FIRST · ABSENT. The smoke test (`main.pony:29`) hard-codes a string payload
-`"digested context: <pre-chewed user turn>"`; no real output shaping exists. Role C3;
-implementation C1.
-
-## 3. Language & location
-TBD · part of `src/economy/`. Likely Pony (produces `Envelope` directly for bus transport) or a
-thin adapter between M2's output and the Ichor envelope shape.
-
-## 4. Does / does-not
-- **Does:** take `DigestedContext` (M2) + provenance chain (M6) + degradation tier (M4); package
-  into an Ichor `Envelope` with `OrganSecretion` provenance; attach metadata: original provenance
-  origin, digestion tier, summary length, extraction count; emit the envelope to the Ichor broker
-  for delivery to Ada.
-- **Does-not:** digest (M2 does); decide whether Ada admits it (D1 does); transform the content
-  further — it packages, it doesn't re-process.
-
-## 5. Interface contract
-- `yield(context: DigestedContext, chain: ProvenanceChain, tier: DegradationTier) -> Envelope`.
-- The `Envelope` payload is structured (not a raw string):
-  ```
-  { summary: str,
-    extractions: [{ key, value }],
-    meta: { original_provenance: Provenance,
-            digestion_tier: DegradationTier,
-            source_ref: str,
-            actual_cost: num } }
-  ```
-- The envelope's bus-level `provenance` field is `OrganSecretion` (the stomach is an organ); the
-  **original** input provenance is carried inside `meta.original_provenance` so Ada can inspect
-  it (M6 compliance).
-- `dest` is always `AdaBorder`.
-
-## 6. Dependencies & stubs
-- M2 `DigestedContext` — upstream; *stub:* canned digested context.
-- M6 `ProvenanceChain` — provenance metadata; *stub:* pass-through original provenance.
-- M4 `DegradationTier` — annotation; *stub:* always `full`.
-- Ichor `Envelope` (existing) — output shape.
-- Ichor `Broker` (existing) — delivery.
-
-## 7. Invariants / laws
-- **L1 (C4):** every yielded envelope carries the **original provenance** in metadata — Ada can
-  always determine what the digested content was *before* the stomach touched it (S1/S2 compliance
-  via M6).
-- **L2 (C4):** the degradation tier is **visible** in the envelope — Ada and the Brain know whether
-  they're getting a full digest or a shallow/deferred one. No silent quality degradation.
-- **L3 (C3):** yield is **stateless** — it packages what it receives; it holds no buffer, no queue,
-  no memory of previous yields.
-
-## 8. Build steps
-1. Define the structured payload shape (extend beyond raw string).
-2. Build the `yield` function (DigestedContext + ProvenanceChain + tier → Envelope).
-3. Wire M2 → M5 → Ichor Broker → Ada.
-4. Update the smoke test (`main.pony`) to use structured payloads instead of hard-coded strings.
-
-## 9. Tests
-Shape: yielded envelope has all required metadata fields. Provenance: original provenance survives
-in `meta.original_provenance`. Tier annotation: each degradation tier correctly tagged. Stateless:
-two consecutive yields with different inputs produce independent envelopes.
-
-## 10. Open items
-- The structured payload encoding (JSON? Pony-native? Ada-compatible binary?) — must be parseable
-  by Ada's `Trust_Guard` on the other side of the seam.
-- Whether Ada needs to understand degradation tiers or just passes them through to the Brain.
-- Batch yields (multiple digested contexts in one envelope vs one-per-envelope).
diff --git a/core/docs/plans/M5-traders.md b/core/docs/plans/M5-traders.md
new file mode 100644
index 0000000..732acce
--- /dev/null
+++ b/core/docs/plans/M5-traders.md
@@ -0,0 +1,78 @@
+# M5 — Traders (AI actors)
+
+## 1. Component
+The economy organ's hands: **specialized AI actors** that buy, sell, and mint cryptocurrency and
+NFTs. Each trader is bound to a Wallet (M4), operates through the Marketplace (M1), queries Sims
+(M3) for predictions, and has all tool calls monitored by the SAE (M7). Multiple traders may
+operate concurrently with **different specializations** (DeFi yield, NFT minting, arbitrage,
+long-term holding, etc.).
+
+## 2. Status / certainty
+DESIGN-FIRST · ABSENT. Role C3; implementation C1.
+
+## 3. Language & location
+TBD · `src/economy/traders/`. Each trader is an AI actor — likely LLM-based (small models for
+speed) or hybrid (LLM for strategy + deterministic execution logic). The harness managing
+multiple traders may be Pony actors or a Python async framework.
+
+## 4. Does / does-not
+- **Does:** query Sims (M3) for market predictions (bounded, multi-domain); consume Data Feeds
+  (M2) for real-time market state; formulate trade decisions based on predictions + data +
+  specialization; submit `MarketAction` requests to the Marketplace (M1) via bound wallet (M4);
+  operate with **scoped autonomy** — trades within law/budget constraints don't need Brain or
+  Conductor approval.
+- **Does-not:** execute on-chain directly (Marketplace does); hold keys (Wallet does); supervise
+  other traders (Conductor does); modify the law script (immutable — M1-L2); bypass the
+  Marketplace (M1-L1).
+
+## 5. Interface contract
+- `init_trader(specialization, wallet_id, config) -> trader_id`.
+  `specialization` ∈ { `defi_yield`, `nft_minter`, `arbitrageur`, `trend_follower`,
+  `market_maker`, … } — extensible.
+- `decide(market_state, predictions: [BoundedPrediction]) -> MarketAction?` — the trader's core
+  loop. May return no action (waiting is a valid decision).
+- `tool_call(tool_name, args) -> result` — every tool call is intercepted and logged to SAE (M7)
+  before execution. Includes Marketplace submissions, Sim queries, and Data Feed reads.
+- `pause() / resume()` — Conductor (M6) can pause a trader pending investigation.
+- `status() -> { active | paused | investigating, wallet_id, specialization, position_summary }`.
+
+## 6. Dependencies & stubs
+- M1 Marketplace — action submission; *stub:* mock marketplace that logs actions.
+- M2 Data Feeds — market data; *stub:* canned data.
+- M3 Sims — predictions; *stub:* fixed predictions.
+- M4 Wallet — bound 1:1; *stub:* mock wallet.
+- M6 Conductor — supervision; *stub:* no supervision.
+- M7 SAE — monitors all tool calls; *stub:* print calls.
+
+## 7. Invariants / laws
+- **L1 (C5):** **all market actions go through the Marketplace** — a trader cannot interact with
+  any chain or protocol except via `MarketAction` → Marketplace (M1). Enforced by architecture
+  (no direct RPC access), not just policy.
+- **L2 (C5):** **all tool calls are monitored** — every tool invocation (Marketplace, Sims,
+  Feeds, internal) is logged to SAE (M7). No unmonitored trader action.
+- **L3 (C4):** **wallet binding is irrevocable within a session** — a trader's wallet cannot be
+  reassigned to another trader at runtime.
+- **L4 (C4):** **Conductor can pause** — a paused trader cannot submit actions, query sims, or
+  read feeds until resumed by the Conductor (M6).
+- **L5 (C3):** trader specialization constrains strategy but not the interface — all traders use
+  the same `MarketAction` vocabulary regardless of specialization.
+
+## 8. Build steps
+1. Define the trader agent architecture (LLM-based? hybrid? rule-based for v1?).
+2. Implement the `decide` loop (observe market state + predictions → action).
+3. Wire tool-call interception → M7 SAE.
+4. Wire Marketplace submission → M1.
+5. Implement pause/resume for Conductor control.
+6. Build at least two specializations to test multi-trader dynamics.
+
+## 9. Tests
+Marketplace-only: trader cannot call chain RPC directly. Monitoring: every tool call appears in
+SAE log. Wallet binding: trader uses only its bound wallet. Pause: paused trader cannot submit
+actions. Specialization: different specializations produce different action patterns on identical
+market state.
+
+## 10. Open items
+- Trader agent architecture (which LLM? how much deterministic logic vs. model inference?).
+- Number of concurrent traders and resource allocation per trader.
+- Specialization catalog (which types, and how do they differ in strategy?).
+- Inter-trader coordination (do traders see each other's positions? shared state? isolated?).
diff --git a/core/docs/plans/M6-conductor.md b/core/docs/plans/M6-conductor.md
new file mode 100644
index 0000000..565c1b0
--- /dev/null
+++ b/core/docs/plans/M6-conductor.md
@@ -0,0 +1,79 @@
+# M6 — Conductor (supervisory AI)
+
+## 1. Component
+The economy organ's supervisor: a **specialist-trained AI** with authority to **veto Marketplace
+actions and pause/investigate individual Traders**. Receives suspicious-behavior reports from the
+SAE (M7) and acts on them. The Conductor is the stomach's own judgment — it does not consult the
+organism's Brain for trade-level decisions. It supervises; the deterministic law script (M1)
+constrains; together they form the multi-layered braking system.
+
+## 2. Status / certainty
+DESIGN-FIRST · ABSENT. Role C4 (supervision architecture is clear); implementation C1 (model
+selection, training, authority scope).
+
+## 3. Language & location
+TBD · `src/economy/conductor/`. The Conductor is an AI actor — likely a fine-tuned LLM with
+specialist training in market risk, trader behavior analysis, and anomaly response. The
+inference wrapper sits alongside the Marketplace.
+
+## 4. Does / does-not
+- **Does:** receive SAE (M7) anomaly reports on trader behavior; **pause** a flagged trader's
+  actions to investigate; **veto** a Marketplace action if investigation reveals risk; **resume**
+  a cleared trader; review Marketplace actions pre-execution when the law check passes (M1-L4:
+  veto is checked after law, before execution); maintain an audit log of all veto/pause/resume
+  decisions.
+- **Does-not:** trade (Traders do); execute on-chain (Marketplace does); modify the law script
+  (immutable — M1-L2); detect anomalies directly (SAE does — the Conductor *responds* to SAE
+  reports, it doesn't watch raw data); consult the organism's Brain.
+
+## 5. Interface contract
+- `veto_check(action: MarketAction, trader_id) -> { approved | vetoed(reason) }` — called by
+  Marketplace (M1) for every law-passing action before execution.
+- `receive_alert(alert: SAEAlert) -> { pause(trader_id) | dismiss | escalate }`.
+  `SAEAlert { trader_id, alert_type, evidence, severity, timestamp }`.
+- `investigate(trader_id) -> { clear(resume) | veto_pending_actions | restrict(new_limits) }`.
+- `decision_log() -> [ConductorDecision]` — full audit trail of all veto/pause/resume/dismiss.
+- **SAE/Brain message format compatibility:** the Conductor's incoming alert format is
+  **identical in structure and signature** to Brain messages — SAE reports to the Conductor in
+  the same shape it would report to the Brain. This means the Conductor can be swapped for Brain
+  oversight without protocol changes (though the stomach normally operates autonomously).
+
+## 6. Dependencies & stubs
+- M7 SAE — anomaly reports; *stub:* no alerts (all clear).
+- M1 Marketplace — veto check integration; *stub:* always-approve.
+- M5 Traders — pause/resume control; *stub:* print pause/resume.
+
+## 7. Invariants / laws
+- **L1 (C5):** the Conductor **can veto, but cannot trade** — it has no wallet, no Marketplace
+  access as a trader. It supervises from outside the trading loop.
+- **L2 (C5):** the **law script is above the Conductor** — the Conductor vetoes actions that
+  *pass* the law check but seem strategically risky. It cannot override a law violation (those
+  are rejected before reaching the Conductor — M1-L4).
+- **L3 (C4):** **pause is reversible** — a paused trader can always be resumed after
+  investigation. Pause is a breaker, not a sentence (echoes A2-L3).
+- **L4 (C4):** every Conductor decision is **logged** — vetoes, pauses, resumes, dismissals.
+  The audit log is append-only (echoes M1-L2 / S3).
+- **L5 (C4):** SAE alert format and Brain message format are **structurally identical** — same
+  fields, same signatures. The Conductor processes them the same way the Brain would.
+
+## 8. Build steps
+1. Define the Conductor's decision model (rule-based for v1? fine-tuned LLM for v2?).
+2. Wire SAE alert intake (M7 → M6).
+3. Wire Marketplace veto check (M1 → M6 → approve/veto).
+4. Implement trader pause/investigate/resume flow.
+5. Implement append-only decision log.
+
+## 9. Tests
+Veto: flagged action is vetoed; unflagged action approved. Pause: paused trader cannot submit
+actions. Resume: cleared trader resumes normal operation. No trading: Conductor cannot submit
+`MarketAction`. Law supremacy: Conductor cannot override a law violation (never reaches
+Conductor). Audit: every decision appears in the log. Alert format: SAE alert parses identically
+to Brain message structure.
+
+## 10. Open items
+- Conductor AI model selection and training data (what does "specialist training" look like?).
+- Veto criteria beyond SAE alerts (does the Conductor have independent judgment, or only
+  responds to SAE reports?).
+- Escalation path — if the Conductor is uncertain, does it escalate to the organism's Brain?
+  Or is the stomach fully autonomous? (Current design: fully autonomous.)
+- Multiple Conductors for redundancy?
diff --git a/core/docs/plans/M6-provenance-chain.md b/core/docs/plans/M6-provenance-chain.md
deleted file mode 100644
index 4ebd355..0000000
--- a/core/docs/plans/M6-provenance-chain.md
+++ /dev/null
@@ -1,79 +0,0 @@
-# M6 — Provenance chain
-
-## 1. Component
-The chain of custody through the stomach: tracks **where input came from** and **what the stomach
-did to it**, so that digested content is never mistaken for original content and Ada (D1) can
-enforce S1/S2 with full information. Solves the provenance question from the economy organ review:
-the stomach transforms external input into organ-secretion output, but the *origin* must not be
-lost.
-
-## 2. Status / certainty
-DESIGN-FIRST · ABSENT. The current smoke test sets `OrganSecretion` provenance on stomach output
-(`main.pony:29`) with no record of the original input's provenance. This is the gap that risks
-S1/S2 violation. Role C4 (the need is clear); implementation C1.
-
-## 3. Language & location
-TBD · part of `src/economy/`. Likely a data structure carried alongside digested context, not a
-separate service. Must be representable in both Pony (bus side) and Ada (border side).
-
-## 4. Does / does-not
-- **Does:** create a `ProvenanceChain` for each input entering the stomach; record each
-  transformation step (ingestion, classification, digestion, yield); attach the chain to the
-  yielded envelope (M5) so Ada sees the full history; enable Ada to distinguish "organ-processed
-  external input" from "organ-generated internal content".
-- **Does-not:** decide trust (Ada does); authenticate sources (the bus provenance system does);
-  filter or reject based on provenance (M0-L2 — digestion doesn't suppress).
-
-## 5. Interface contract
-- `chain_start(original_provenance: Provenance, source: OrganId, input_hash: str) -> ProvenanceChain`.
-- `chain_step(chain: ProvenanceChain, step: TransformStep) -> ProvenanceChain`.
-  `TransformStep { stage, transformer, timestamp }`.
-  `stage` ∈ { `ingested`, `classified`, `digested`, `yielded` }.
-- The final `ProvenanceChain` is:
-  ```
-  { original_provenance: Provenance,   -- what the input was before the stomach
-    original_source: OrganId,           -- who sent it (World, MoRAG, etc.)
-    input_hash: str,                    -- hash of raw input for audit
-    steps: [TransformStep],             -- what the stomach did, in order
-    is_external_origin: bool }          -- convenience flag for Ada: TRUE if
-                                        --   original_provenance ∈ {External, UserInput}
-  ```
-- `is_external_origin` lets Ada apply S1 screening to digested-but-originally-external content
-  without parsing the full chain.
-
-## 6. Dependencies & stubs
-- Ichor `Provenance` / `OrganId` (existing) — input types.
-- M1 ingestion — creates the chain at `ingested` step.
-- M2 digestion — adds the `digested` step.
-- M5 context yield — attaches the chain to the envelope; *stub:* pass-through.
-- Ada D1 `Trust_Guard` — consumer of the chain; *stub:* print chain on receipt.
-
-## 7. Invariants / laws
-- **L1 (C5):** the chain is **immutable once created** — steps are appended, never modified or
-  removed. Like the COBOL invariant vault (S3), the provenance record doesn't get rewritten.
-- **L2 (C5):** **S2 compliance** — the original provenance is **never reclassified**. The bus
-  transport field may say `OrganSecretion` (because the stomach is an organ emitting output), but
-  `original_provenance` in the chain preserves the true origin. This is not reclassification;
-  it's layered provenance.
-- **L3 (C4):** **S1 compliance** — content with `is_external_origin = TRUE` tells Ada that this
-  traffic **originated externally** even though it arrives as organ output. Ada applies its full
-  external-traffic screening (rate, blocklist, trust) to such content.
-- **L4 (C3):** the `input_hash` allows **audit verification** — given the original input and the
-  hash, you can confirm the chain refers to the right content.
-
-## 8. Build steps
-1. Define `ProvenanceChain` and `TransformStep` shapes.
-2. Wire chain creation in M1 (ingestion) and step-append in M2 (digestion).
-3. Wire chain attachment in M5 (yield → envelope metadata).
-4. Extend Ada's `Trust_Guard` (or its stub) to read `is_external_origin` and apply S1 screening.
-
-## 9. Tests
-Chain integrity: steps accumulate in order; no mutation. S2: original provenance survives all
-transforms. S1: `is_external_origin = TRUE` for external/user input; `FALSE` for organ-to-organ.
-Hash: chain's `input_hash` matches hash of the raw input.
-
-## 10. Open items
-- Hash algorithm (SHA-256? lightweight alternative for performance?).
-- Whether Ada needs the full chain or just `is_external_origin` + `original_provenance` (start
-  with the full chain; Ada can ignore what it doesn't need).
-- Cross-seam representation (Pony chain → C/Fortran seam → Ada record).
diff --git a/core/docs/plans/M7-outer-bus-exchange.md b/core/docs/plans/M7-outer-bus-exchange.md
deleted file mode 100644
index dd3ae9f..0000000
--- a/core/docs/plans/M7-outer-bus-exchange.md
+++ /dev/null
@@ -1,76 +0,0 @@
-# M7 — Outer-bus exchange
-
-## 1. Component
-The stomach's economic relationships with its **outer-bus peers**: MoRAG (F1), SAE (F2),
-microagents (F3). How the economy organ requests, receives, and pays for services from other
-outer organs — and what it provides in return. The smoke test already shows
-`Stomach → MoRAG` (`main.pony:37`); this spec defines the full exchange protocol.
-
-## 2. Status / certainty
-DESIGN-FIRST · ABSENT. One hard-coded `Stomach → MoRAG` message exists in the smoke test.
-No protocol, no cost tracking, no bidirectional exchange defined. Role C2; implementation C1.
-
-## 3. Language & location
-TBD · part of `src/economy/`. Exchange happens over Ichor (Pony actors + Envelope), so the
-protocol is Envelope-based. The exchange logic lives in the economy organ; peers implement
-their side independently.
-
-## 4. Does / does-not
-- **Does:** request world context from MoRAG before/during digestion (enrich the digest with
-  retrieved knowledge); receive SAE monitoring signals (if SAE detects anomalies in the stomach's
-  outputs); coordinate with microagents for delegated sub-tasks (e.g. "fetch and pre-chew this
-  URL"); track the cost of all exchanges in M3.
-- **Does-not:** route traffic (Ichor broker does); bypass Ada for any membrane-bound content
-  (outer-to-outer is fine; anything heading inward crosses D1); command peers (it requests; they
-  may decline).
-
-## 5. Interface contract
-- **Stomach → MoRAG:**
-  `request_context(query: str, budget_limit: num) -> Envelope` — ask MoRAG for relevant world
-  context to enrich a digestion. `budget_limit` caps how much the retrieval may cost (MoRAG
-  reports actual cost back; M3 records it).
-- **Stomach → Microagents:**
-  `delegate(task: str, budget_limit: num) -> Envelope` — delegate a sub-task (fetch, pre-process)
-  to a microagent. Same budget/cost protocol.
-- **SAE → Stomach:**
-  `anomaly_signal(finding: str) -> Envelope` — SAE pushes a signal if it detects anomalous
-  stomach output. The stomach logs it (M3) but does not self-correct (F2-L2: detection only,
-  no closed elimination loop).
-- All exchange envelopes use `OrganSecretion` provenance (outer-to-outer, no membrane crossing).
-
-## 6. Dependencies & stubs
-- Ichor `Broker` + `Envelope` (existing) — transport.
-- MoRAG (F1) — context provider; *stub:* fixed context response.
-- SAE (F2) — anomaly detector; *stub:* no signals.
-- Microagents (F3) — task delegates; *stub:* echo task back.
-- M3 cost ledger — records exchange costs.
-- M4 budget governor — caps exchange spending via `budget_limit`.
-
-## 7. Invariants / laws
-- **L1 (C5):** outer-to-outer exchange **never crosses Ada** — it stays on Ichor. Only the final
-  digested output (M5) crosses the membrane. This is by design: peer coordination is "skin-level"
-  and doesn't need border screening.
-- **L2 (C4):** every exchange has a **budget limit** — no unbounded retrieval or delegation. The
-  stomach asks for what it can afford (M4).
-- **L3 (C3):** exchanges are **request/response, not streaming** — the stomach sends a request,
-  waits for a response (or timeout), and proceeds. No long-lived channels between peers.
-- **L4 (C3):** the stomach **never self-corrects** based on SAE signals — it logs them. Correction
-  is a G1/G2 governance concern, not the organ's.
-
-## 8. Build steps
-1. Define the exchange envelope subtypes (request_context, delegate, anomaly_signal).
-2. Implement Stomach → MoRAG context request (extend the existing `main.pony` wire).
-3. Implement budget-limited exchange (M4 check before request; M3 record on response).
-4. Implement SAE → Stomach anomaly logging.
-
-## 9. Tests
-MoRAG exchange: request sent, response received, cost recorded. Budget limit: exchange rejected
-when over budget. Anomaly signal: logged but no state change in the stomach. Outer-only: no
-exchange envelope targets `AdaBorder`.
-
-## 10. Open items
-- Whether MoRAG enrichment happens **before** digestion (pre-chew with context) or **during**
-  (RAG-augmented digestion — the small model sees retrieved context alongside input). Big design
-  fork (C2).
-- Timeout/fallback when a peer doesn't respond (digest without enrichment? retry?).
-- Microagent delegation scope — what tasks can be delegated vs what the stomach must do itself.
diff --git a/core/docs/plans/M7-sae-monitor.md b/core/docs/plans/M7-sae-monitor.md
new file mode 100644
index 0000000..d8fe780
--- /dev/null
+++ b/core/docs/plans/M7-sae-monitor.md
@@ -0,0 +1,83 @@
+# M7 — SAE monitor (trader surveillance)
+
+## 1. Component
+The economy organ's internal watchdog: a **sparse autoencoder pointed at every trader tool call**.
+Monitors all Trader (M5) actions — Marketplace submissions, Sim queries, Data Feed reads, and
+any other tool invocation — and reports **suspicious behavior** to the Conductor (M6). Messages
+from the SAE share **identical format and signatures** with Brain messages, so the Conductor
+processes them through the same pathway.
+
+Extends the F2 (SAE monitor) pattern to the economy organ's internal domain. F2 watches
+subagents at the organism level; M7 watches traders at the stomach level.
+
+## 2. Status / certainty
+DESIGN-FIRST · ABSENT. F2 SAE monitor provides the architectural pattern (watch the machinery,
+never the homunculus — F2-L1). M7 adapts this: watch the **traders** (the machinery), never the
+**Conductor** (the stomach's judgment). Role C3; implementation C1.
+
+## 3. Language & location
+TBD · `src/economy/sae/`. ML interpretability (sparse autoencoder over trader action embeddings).
+Shares the architectural pattern with F2 but is a separate instance scoped to the economy organ.
+
+## 4. Does / does-not
+- **Does:** intercept and log **every trader tool call** (Marketplace, Sims, Feeds, internal);
+  embed trader action sequences; run SAE anomaly detection over action embeddings; flag suspicious
+  patterns (unusual trading frequency, outsized positions, coordinated behavior across traders,
+  repeated failed actions, unusual Sim query patterns); report alerts to the Conductor (M6) with
+  evidence; format alerts **identically to Brain messages** (same structure, same signatures).
+- **Does-not:** block actions directly (Conductor decides); watch the Conductor (the stomach's
+  "homunculus" — echoes F2-L1); correct trader behavior (detection only — F2-L2: no closed
+  elimination loop); trade or access wallets.
+
+## 5. Interface contract
+- `log_tool_call(trader_id, tool_name, args, result, timestamp)` — called on every trader tool
+  invocation. Synchronous interception (the call is logged before execution proceeds).
+- `alert(trader_id, alert_type, evidence, severity) -> SAEAlert`.
+  `alert_type` ∈ { `unusual_frequency`, `outsized_position`, `coordinated_behavior`,
+  `repeated_failures`, `anomalous_queries`, `pattern_deviation` }.
+  `severity` ∈ { `low`, `medium`, `high`, `critical` }.
+- `SAEAlert` structure is **identical to Brain message structure** — same fields, same
+  signature scheme. The Conductor (M6) processes SAE alerts and Brain messages through the
+  same intake (M6-L5).
+- `status() -> { active, traders_monitored, alerts_pending, model_freshness }`.
+
+## 6. Dependencies & stubs
+- M5 Traders — tool call source; *stub:* canned tool call log.
+- M6 Conductor — alert consumer; *stub:* print alerts.
+- F2 SAE monitor (organism-level) — architectural pattern; no runtime dependency.
+
+## 7. Invariants / laws
+- **L1 (C5):** the SAE watches **traders, never the Conductor** — the Conductor is the
+  stomach's judgment; the SAE monitors the machinery. Echoes F2-L1 (watch the machinery, never
+  the homunculus).
+- **L2 (C5):** **every tool call is logged** — no trader action escapes monitoring. This is
+  enforced architecturally (tool call interception), not by policy.
+- **L3 (C4):** **detection only, no enforcement** — the SAE reports to the Conductor; it never
+  blocks, pauses, or modifies trader actions itself. Echoes F2-L2 (no closed elimination loop).
+- **L4 (C4):** **alert format = Brain message format** — structurally identical, same signatures.
+  This is not coincidental; it ensures the Conductor can be supervised by the Brain using the
+  same protocol if the organism ever needs to override stomach autonomy.
+- **L5 (C3):** the SAE model is **trained on normal trader behavior** — anomalies are deviations
+  from the learned normal, not violations of predefined rules (those are the law script's job
+  in M1).
+
+## 8. Build steps
+1. Implement tool-call interception in the trader harness (M5).
+2. Define the action embedding scheme (how tool calls are vectorized).
+3. Train the SAE on normal trader behavior (bootstrapped from simulated trading).
+4. Implement anomaly scoring and alert threshold.
+5. Wire alerts to Conductor (M6) in Brain-compatible message format.
+
+## 9. Tests
+Interception: every tool call produces a log entry. Anomaly: known-suspicious patterns (e.g.
+100x normal frequency) trigger alert. Normal: baseline behavior does not trigger alert.
+No enforcement: SAE cannot pause or block a trader (only Conductor can). Alert format: SAE
+alert parses as valid Brain message. Conductor-blind: no Conductor action appears in SAE logs.
+
+## 10. Open items
+- SAE architecture (how many features? reconstruction vs. classification?).
+- Training data bootstrapping (simulated trading or historical data?).
+- Alert threshold tuning (too sensitive = alert fatigue; too lax = missed anomalies).
+- Whether M7 should also monitor Marketplace execution outcomes (fills, slippage) in addition
+  to tool calls.
+- Relationship to F2: shared model? shared training pipeline? or fully independent?
diff --git a/core/docs/plans/README.md b/core/docs/plans/README.md
index e340706..6d9deb9 100644
--- a/core/docs/plans/README.md
+++ b/core/docs/plans/README.md
@@ -50,13 +50,20 @@ Every `NN-<organ>.md` has the same 10 sections:
 | G2 | Governance | Cross-cut | DESIGN-FIRST (C2) | TBD | _wave 2_ |
 | G3 | Defense model | Cross-cut | emergent | — | _wave 2_ |
 | M0 | Economy organ hub (stomach) | Economy | DESIGN-FIRST | TBD | [M0](M0-economy-organ-hub.md) |
-| M1 | Ingestion gateway | Economy | DESIGN-FIRST | TBD | [M1](M1-ingestion.md) |
-| M2 | Digestion core (small-model) | Economy | DESIGN-FIRST | TBD | [M2](M2-digestion-core.md) |
-| M3 | Cost ledger | Economy | DESIGN-FIRST | TBD | [M3](M3-cost-ledger.md) |
-| M4 | Budget governor | Economy | DESIGN-FIRST | TBD | [M4](M4-budget-governor.md) |
-| M5 | Context yield (absorption) | Economy | DESIGN-FIRST | TBD | [M5](M5-context-yield.md) |
-| M6 | Provenance chain | Economy | DESIGN-FIRST | TBD | [M6](M6-provenance-chain.md) |
-| M7 | Outer-bus exchange | Economy | DESIGN-FIRST | TBD | [M7](M7-outer-bus-exchange.md) |
+| M1 | Marketplace (multi-trader harness) | Economy | DESIGN-FIRST | TBD | [M1](M1-marketplace.md) |
+| M2 | Data feeds (market data pipeline) | Economy | DESIGN-FIRST | TBD | [M2](M2-data-feeds.md) |
+| M3 | Sims hub (market prediction) | Economy | DESIGN-FIRST | TBD | [M3](M3-sims-hub.md) |
+| M3a | Statistical & quantitative sims | Economy/Sims | DESIGN-FIRST | TBD | [M3a](M3a-statistical-sims.md) |
+| M3b | Sociological & population sims | Economy/Sims | DESIGN-FIRST | TBD | [M3b](M3b-sociological-sims.md) |
+| M3c | AMM & liquidity pool sims | Economy/Sims | DESIGN-FIRST | TBD | [M3c](M3c-amm-liquidity-sims.md) |
+| M3d | MEV & adversarial extraction sims | Economy/Sims | DESIGN-FIRST | TBD | [M3d](M3d-mev-adversarial-sims.md) |
+| M3e | Tokenomics & macro-state sims | Economy/Sims | DESIGN-FIRST | TBD | [M3e](M3e-tokenomics-macro-sims.md) |
+| M3f | Consensus & staking game sims | Economy/Sims | DESIGN-FIRST | TBD | [M3f](M3f-consensus-staking-sims.md) |
+| M3g | Market microstructure sims | Economy/Sims | DESIGN-FIRST | TBD | [M3g](M3g-market-microstructure-sims.md) |
+| M4 | Wallets (sovereign custody) | Economy | DESIGN-FIRST | TBD | [M4](M4-wallets.md) |
+| M5 | Traders (AI actors) | Economy | DESIGN-FIRST | TBD | [M5](M5-traders.md) |
+| M6 | Conductor (supervisory AI) | Economy | DESIGN-FIRST | TBD | [M6](M6-conductor.md) |
+| M7 | SAE monitor (trader surveillance) | Economy | DESIGN-FIRST | TBD | [M7](M7-sae-monitor.md) |
 
 ## Integration DAG (who feeds whom)
 ```
@@ -70,12 +77,15 @@ Hermes ──> [C1] ──> Inference cycle [C3] ──┬─ pulls Drive-Box sn
                                             └─ Ada routes tools [D1]
 SAE [F2] watches Subagents [F3];  stress-loop [G1]: F2 → A7 (EthInt) → stress endomotiv (A4) → A8 drift + full reshuffle (B2)
 Storage: INVARIANT [E1] / VARIANT [E2] / RAG+cross-store [E3] sit behind D1.  Medium [D2] = the perfusion bus (unnamed).
-Economy: world → Stomach [M0] ingests [M1] → digests [M2] → yields [M5] → Ada [D1].  Ledger [M3] + budget [M4] track cost.
-  Provenance [M6] chains origin through digestion.  Exchange [M7]: Stomach ↔ MoRAG [F1] / SAE [F2] / Microagents [F3].
+Economy (stomach — independent, scoped autonomy):
+  Marketplace [M1] ← Traders [M5] (bound to Wallets [M4]) submit actions; law script + Conductor [M6] veto gate execution.
+  Data Feeds [M2] ↔ Sims [M3: M3a stat, M3b socio, M3c AMM, M3d MEV, M3e tokenomics, M3f consensus, M3g microstructure].
+  SAE [M7] monitors all Trader tool calls → alerts Conductor [M6].  Tax → Verschwörern Veregeister wallets (stub).
+  Stomach [M0] ↔ organism via Ichor; reward signals TBD.
 ```
 
 ## Build waves
 - **Wave 0** — this README + **C1** (priority).
 - **Wave 1 (buildable-now)** — A1–A8, B1–B3, C2–C4, D1, D3.
-- **Wave 2 (design-first)** — D2, E1–E3, F1–F3, G1–G3, M0–M7.
+- **Wave 2 (design-first)** — D2, E1–E3, F1–F3, G1–G3, M0–M7 (+ M3a–M3g sim sub-specs).
 Each spec is independent; review as they land.