{"period":"October 12–19, 2026 Baseline Measurement (Base L2)","sample_size_txs":105,"financial_summary":{"total_gross_liquidation_usd":190506.31,"total_svr_bids_captured_usd":186889.85,"protocol_capture_rate_pct":98.1,"solver_retained_pre_swap_usd":3545.73,"solver_retained_pre_swap_pct":1.86,"median_transaction_margin_pct":-1.55},"auction_competitiveness":{"breakeven_or_subzero_rate_pct":61.9,"subzero_transactions_total_loss_usd":2500.0,"typical_margin_range_pct":"0.0% to 2.0% (pre-swap slippage)"},"methodological_boundaries":["Heavy concentration in the high-volatility window of Oct 12–19, 2026.","Swap slippage across DEX liquidity pools is excluded from net calculations.","Arbitrum dataset contains only 3 verified transactions and is pending expanded historical ingestion.","L1 metrics reflect builder priority payments, not gross liquidation value."],"conclusion":"The data confirms that the SVR mechanism functions exactly as designed: competitive bidding among permissionless solvers drives bids up to ~98% of gross liquidation value, successfully recapturing value for the protocol while leaving thin operational margins for solvers."}