Evidence States and Coverage Limits in a Multi Feed Liquidity Monitor

FTL, also called liquidityxyz, combines multiple blockchain observation sources into a liquidity event feed. Its inspected implementation identifies events by chain, transaction, and instruction position, accepts the first observation, and upgrades matching events when execution metadata becomes available. This report analyzes the separation between provisional observation, executed evidence, research coverage, and derived labels. It also examines operational limits that affect interpretation: bounded recent event memory, selective retention of young liquidity activity, a 90 second pending event timeout, provider payload budgeting, and distinct provisional and finalized research paths. Static source and test inspection establish the implemented contracts, while no new live latency or accuracy measurement is reported. Two ambiguities remain material: the feed's internal confirmed label is used for some processed stream observations, and timeout failure is an inference from nonobservation rather than an authenticated transaction error. The report treats these as limits to preserve in downstream analysis. The intended benefits are informed user control and accountable market observation; broader financial access and detection of harmful conduct require separate validation, attention to false positives, and mechanisms to contest interpretations. Preparation of this report was assisted by Codex. The research programme is directed toward human agency, financial inclusion, and evidence-based accountability. Intended social benefits are distinguished from measured technical results in the manuscript. The manuscript and newly authored analysis are offered under CC BY 4.0. Any supplied source files retain the license terms stated in the supplement; the record license does not replace third-party source licenses.