When a human opens an OTC account, KYC is a one-time event. Documents go in, a flag turns on, the desk lets you trade. That flag is opaque to anyone else, mutable at the desk's discretion, and revisited maybe once a year. When an autonomous agent picks a counterparty, the equivalent question is different in shape. The agent does not ask "is this party allowed to trade?" once a year. It asks "given everything I can verify about this party over the last 30 days, what is the probability the trade I am about to submit will actually settle within its committed window?" — and it asks before every bid. A KYC checkbox does not answer that question. It was never designed to. So when we wrote down Hashlock's fifth invented primitive — the last of the five we set out to ship after the V1 mainnet contracts went immutable — we wrote it down twice. Once as a settlement-history primitive (Execution Rewards), and once as an identity-attestation primitive (Tiered KYC). Each one is mostly useless on its own.…