DeFi Realized PnL — Wallet-Boundary Method

Computes realized stablecoin/LP yield via a two-stage wallet-boundary pipeline. Stage 1 builds a flat transfer ledger; Stage 2 computes boundary PnL from that ledger. Rotation bug fix: intra-wallet stable rotations (vault A → stable → vault B) net to zero because they stay inside the wallet boundary and never cross external counterparties.

Two-Stage Pipeline

Stage 1 — Build transfer ledger

bun yield_trace.ts <wallet> --ledger [--chains base,ethereum,arbitrum,optimism] --out <ledger.json>