> For the complete documentation index, see [llms.txt](https://praxis-4.gitbook.io/praxis/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://praxis-4.gitbook.io/praxis/changelog/readme.md).

# Changelog

{% updates format="full" %}
{% update date="2026-05-20" %}

## Testnet Preparations

Public testnet deployment preparations begin. Final smart contract review, faucet setup, and public testnet documentation finalized ahead of first external participants.
{% endupdate %}

{% update date="2026-04-17" %}

## First Base-App Ready + Internal Testing

The first complete version of the app on Base is live internally. AMM mechanics finalized, position management flows complete, and the full deposit → predict → claim loop is tested end-to-end.
{% endupdate %}

{% update date="2026-03-07" %}

## Two-Pool Mechanic + Events Engine v1

The two-pool market structure is presented alongside the first version of the events engine. Separating liquidity and settlement pools improves capital efficiency and enables long-tail markets from day one.
{% endupdate %}

{% update date="2026-02-13" %}

## App Design Complete + First Contracts Deployed

The Base App design is finalized. First set of smart contracts (vault, PT/YT minting, AMM) deployed to testnet and verified.
{% endupdate %}

{% update date="2026-01-10" %}

## PT/YT Mechanic Formed with Mathematical Breakdown

The core principal-protection mechanic is formally specified: deposit splits into PT (redeemable principal) and YT (upfront yield), with a full mathematical treatment covering pricing, epoch dynamics, and early-exit conditions.
{% endupdate %}

{% update date="2025-12-15" %}

## Idea Creation

Praxis concept initiated — a prediction market protocol where participation costs yield instead of principal. Initial whiteboard sessions define the core problem and the PT/YT approach as the solution.
{% endupdate %}
{% endupdates %}