Start here
Move SOFR from 0% to 5.41% and watch the capital-bound systems rise against the GvK Limit Line.
Executive walkthrough · 60 s
A one-minute introduction to the Gabrielli–von Kármán frontier for settlement, and how to read the canvas above.
- x-axis: settlement velocity 1/τ, from 90-day bills of exchange to microsecond matching.
- y-axis: specific exchange drag ε, all frictions per unit of value settled, in basis points.
- Limit Line: the lowest drag any live system achieves at each speed; distance u measures inefficiency.
Figures come from a calibrated simulation panel, not empirical data.
Benchmark your infrastructure
Test your infrastructure's drag against the GvK Frontier privately. Our in-browser validator ensures your data never leaves your machine: submitted figures are scored locally and never uploaded.
Observed SOFR for 2018-01 · switch to the 2024 snapshot to set it manually.
Panel price for 2018-01 · energy term already priced in the panel.
Policy Sandbox
Simulate US Equities shift to T+0
Compresses DTCC finality τ from T+2 to 10 s and multiplies locked clearing capital ×10, modelling the loss of multilateral netting efficiency under atomic settlement.
- τ
- T+2
- K_locked
- $140.00B
- ε
- 0.8338 bps
Canvas Key
ε = (Cfees + Crisk + Cenergy + Ccoll) / Vmonth × 10⁴. Values beyond the y-domain are pinned to the axis edge with a directional marker.
| System | Category | τ | Fees | Collateral | Risk | Energy | ε (bps) | uᵢ |
|---|---|---|---|---|---|---|---|---|
| Babylonian Temple Storehouse (c. 1750 BCE) | Historical Anchor | 180d | 150.0 | 0 | 200.0 | 0 | 350.0 | 0.00 |
| Venetian Bills of Exchange (c. 1500) | Historical Anchor | 90d | 150.0 | 0 | 50.00 | 0 | 200.0 | 0.54 |
| Champagne Fairs Clearing (c. 1250) | Historical Anchor | 60d | 15.00 | 0 | 5.00 | 0 | 20.00 | 0.00 |
| Transatlantic Gold Points (c. 1880) | Historical Anchor | 14d | 40.00 | 0 | 10.00 | 0 | 50.00 | 0.99 |
| SWIFT Correspondent | Fiat Wholesale · Gross (RTGS) | 3d | 50.00 | 0.0399 | 10.00 | 9.04e-3 | 60.05 | 1.69 |
| Amsterdam Wisselbank (c. 1650) | Historical Anchor | 2d | 8.00 | 0 | 2.00 | 0 | 10.00 | 1.08 |
| ACH Batch Network | Fiat Wholesale · Netted (CCP) | 2d | 0.0200 | 6.36e-4 | 1.00 | 9.61e-4 | 1.02 | 0.09 |
| Visa Core Network | Retail Card Network | 2d | 180.0 | 1.74e-3 | 40.00 | 0.1260 | 220.1 | 2.42 |
| Mastercard Network | Retail Card Network | 2d | 185.0 | 1.62e-3 | 38.00 | 0.1224 | 223.1 | 2.43 |
| DTCC US Equities | Fiat Wholesale · Netted (CCP) | 2d | 0.3000 | 0.0182 | 0.5000 | 0.0157 | 0.8338 | 0.00 |
| London Bankers' Clearing House (c. 1820) | Historical Anchor | 1d | 6.00 | 0 | 2.00 | 0 | 8.00 | 1.22 |
| CHIPS Netting Engine | Fiat Wholesale · Netted (CCP) | 1h | 0.0400 | 4.02e-4 | 0 | 4.05e-4 | 0.0408 | 0.00 |
| Bitcoin L1 | Crypto · Proof-of-Work | 1h | 12.00 | 0 | 0 | 143.9 | 155.9 | 3.58 |
| Ethereum L1 | Crypto · Proof-of-Work | 12.8m | 15.00 | 0.5426 | 0 | 33.97 | 49.51 | 2.95 |
| Fedwire Funds Service | Fiat Wholesale · Gross (RTGS) | 30s | 0.1000 | 5.58e-3 | 0 | 3.51e-4 | 0.1059 | 0.00 |
| TIPS / SEPA Instant | Fiat Wholesale · Gross (RTGS) | 10s | 0.1500 | 0.0675 | 0 | 0.0613 | 0.2788 | 0.22 |
| Lightning Network | Crypto · Layer-2 Channel | 1s | 1.50 | 0.9779 | 0 | 19.71 | 22.19 | 1.69 |
| Nasdaq ITCH/OUCH | HFT Market Venue | 1ms | 0.2000 | 9.19e-3 | 8.00 | 0.1852 | 8.39 | 0.00 |