Learn the ledger
Plain-language guides to Cairn’s mechanics, calculations and boundaries.
What is Cairn?
A plain-language tour of Cairn’s research simulator, local ledger and explicit safety boundaries.
Read →guideEarn vs Boost: two claims, different risks
Understand senior financing, junior residual exposure and why priority is not guaranteed principal.
Read →guideHow Cairn calculates gains and losses
A worked explanation of entry fees, financing, price shocks and reference gains or losses.
Read →guideWhy a flat stock price can still produce a loss
Entry fees, execution costs and financing claims can change the result even when the underlying price is unchanged.
Read →guideThe loss waterfall: who loses first?
A visual explanation of senior priority, junior residual value and possible impairment.
Read →guideReference value is not guaranteed cash
Why a displayed claim value and an executable withdrawal are separate questions.
Read →guideToken units and multipliers explained
Why raw units, price and issuer conversion factors must be applied exactly once.
Read →guideIndicative, verified and executable prices
A practical guide to the three pricing questions in the Cairn research build.
Read →guideWhat does 1.5× exposure mean?
A beginner explanation of gross stock exposure, junior capital and modeled senior financing.
Read →guideWhat happens when liquidity disappears?
Why new exposure can pause without automatically forcing a sale of existing positions.
Read →