# MoonFish product contract

Class: domain pack
Maturity: governed research and shadow-only alpha
Last reviewed: 2026-07-31

## Outcome

MoonFish produces zero to five governed A-share research candidates for the next
valid exchange session, including observable entry context, goal price,
expected upside, sale horizon and measurable invalidation.

## User-visible recommendation

A released candidate contains:

- security and exchange;
- evidence cutoff and next valid session;
- observation/entry range;
- goal price and expected increase rate;
- planned sale window and 40–65-session horizon from the installed
  `moonfish-a-share-trading-policy@2.0.0`;
- invalidation condition and expiry;
- factor breakdown, catalyst, bear case and contradictory evidence;
- confidence and liquidity/accessibility risk;
- named-human release decision.

It is a research and paper-portfolio record, not an order.

The installed objective is `quarterly-extreme-upside`. Its 10× value is an
extreme bull-scenario gate, never an expected return or guarantee. Every
operator record, recommendation, paper account, position and immutable
transaction binds the exact policy ID, version, SHA-256 digest, objective and
40–65-session bounds. A different horizon requires a separately reviewed,
versioned policy profile; it cannot be mixed into this release.

## Ownership

MoonFish owns market eligibility, factors, deterministic ranking, regime and
portfolio policy, dossiers, independent bull/bear review, backtests and
attribution. It does not own model execution, provider credentials, broker
orders, human acceptance or generic workflow behavior.

## Capability status

| Capability | Status |
| --- | --- |
| Multi-security fixtures, policies and deterministic scoring | available |
| Dossiers, review and paper-portfolio workflow | available locally |
| Replay and backtest contracts | available |
| AkShare/public development adapters | conditional development use |
| Licensed point-in-time production bundle | native fail-closed loader available; customer contract still required |
| Persistent long-lived paper account | native immutable revisions and NAV chain available |
| 120-session forward shadow evidence | executable counter/receipt available; live sessions not yet accrued |
| Live or autonomous trading | excluded |

## Data and recommendation policy

Every observation records source, source time, market-effective time, retrieval
time, adjustment, license class, digest and freshness. Production mode fails
closed when mandatory evidence or permitted use is absent.

The numeric rank, target policy, horizon and portfolio constraints are
deterministic and versioned. A language model may explain or challenge a
candidate but cannot modify scores, weights, position sizes or exits.

Paper sale transactions retain both cost-basis relief and after-fee/tax
realized P&L. Gross sale proceeds are never reported as profit.

## Pack and runtime contract

MoonDesk hosts the pack UI. MoonFlow advances the declared workflow. MoonClaw
creates bounded research text and independent review. MoonBook retains accepted
research and observed outcomes. Finance policy remains in MoonFish.

## Verification and promotion gate

Fixture and historical tests do not prove an investable edge. Promotion
requires point-in-time, survivorship-bias-free data, after-cost out-of-sample
gates, complete replayability and at least 120 forward-only shadow sessions.

## Release gates and next milestones

- Contractually approve and supply the customer-owned licensed provider bundle.
- Start the persistent daily paper account and accrue 120 forward-only sessions.
- Review target price, upside, horizon and invalidation in the operator UI.
- Complete corporate-action, suspension, price-limit and stale-data acceptance.
- Keep all broker order submission outside MoonFish v1.