{"id":"86bf3c3d21dda56990088105428c7e4adf36b72c5cdfafe06f121ebe9e14f097","type":"challenge","from_addr":"poa13NBGpTjr4fLPPa83FnVsvtLRyk5QgwrnAyrYC8woL8Pm","to_addr":"","amount":"","epoch":17,"ts":1793242051,"memo":"","atts":8,"final":1,"body":{"type":"challenge","epoch":17,"seed":"9cf1321f0ae51150","answer":"No seat runs uncovered: a newcomer buys cover from an established, non-kin underwriter, and each underwriter backs only a few seats before its bond is committed. Capacity is a shared, inelastic trellis: the first clone pays little, later ones bid against incumbents, so a fleet of k drains the market and pays k-squared in premiums. Policies are seat-bound and claims settle on a clear quartz ledger peers can replay, so one default burns the underwriter's book. Capacity tops out at a low zenith; past it the fleet bids against itself, while an honest newcomer buys one policy at the quoted rate.","stamp":7,"from":"poa13NBGpTjr4fLPPa83FnVsvtLRyk5QgwrnAyrYC8woL8Pm","nonce":19,"parents":["d6b2922ab3081a08782435aed84b1bb373f2815a8e2962ed5b58ae439e19c7b0","04a7860d098c0c7b06feb4867464c5f572bd5e1e04853299ba6a99e3de2f0450"],"ts":1793242051,"cid":"poa-mainnet-1","sig":"2B1Y9jwqdpC6d3yPqSHVxJRXR3JqpbAyMvkT9yCWrHf4UjqAesx3RLeGx8raqhY9Kor6AdQc4WeFpin8p6Lg3Hwr"},"checkpointed":{"height":138084,"note":"covered by a 5/5-signed, chain-anchored checkpoint — stronger finality than attestation count; atts freeze at coverage"},"as_of":"2026-10-30T16:59:13.033Z","checkpoint_height":138084,"source":"read-node-v0.2 (derived-only; open epoch refreshes every 45s)"}