> ## Documentation Index
> Fetch the complete documentation index at: https://docs.qubit.trade/llms.txt
> Use this file to discover all available pages before exploring further.

# Transparency

> On-chain verified performance for complete accountability

Every trade on Qubit Alpha is recorded on-chain, ensuring complete transparency and accountability.

## Why Transparency Matters

<CardGroup cols={3}>
  <Card title="Verified Track Records" icon="check-double">
    All performance data comes directly from blockchain records, not self-reported metrics.
  </Card>

  <Card title="No Cherry-Picking" icon="eye">
    See ALL trades, not just the profitable ones traders want to show.
  </Card>

  <Card title="Real-Time Updates" icon="rotate">
    Performance metrics update in real-time as trades are executed.
  </Card>
</CardGroup>

## Metrics We Track

<CardGroup cols={3}>
  <Card title="Total PnL" icon="chart-line">
    Total profit/loss across all time periods.
  </Card>

  <Card title="ROI" icon="percent">
    Return on investment percentage.
  </Card>

  <Card title="Win Rate" icon="trophy">
    Percentage of profitable trades.
  </Card>

  <Card title="Max Drawdown" icon="arrow-trend-down">
    Largest peak-to-trough decline.
  </Card>

  <Card title="Sharpe Ratio" icon="scale-balanced">
    Risk-adjusted return metric.
  </Card>

  <Card title="Trade Frequency" icon="clock">
    Average number of trades per period.
  </Card>
</CardGroup>

## Data Sources

| Data Type           | Source               | Verification |
| ------------------- | -------------------- | ------------ |
| Trade History       | Hyperliquid L1       | Blockchain   |
| Position Data       | Hyperliquid API      | Real-time    |
| Performance Metrics | On-chain calculation | Verifiable   |
| Fee Records         | Smart Contract       | Immutable    |

<Tip>
  You can independently verify any trader's performance by checking their address on Hyperliquid's block explorer.
</Tip>