fix(assets): lower the discovery floor to 1M and pin it to the admission floor

keel/cli.py

@@ -699,8 +699,11 @@ def assets_holdings(ctx: click.Context, min_balance: str, run_screen: bool) -> N
 @assets_group.command("discover")
 @click.option("--quote", default=None, help="Settlement currency (default: config.quote_currency).")
 @click.option(
-    "--min-volume-24h", default="5000000", show_default=True,
-    help="Cheap pre-filter on the venue's reported 24h quote volume.",
+    "--min-volume-24h", default="1000000", show_default=True,
+    help="Cheap pre-filter on the venue's reported 24h quote volume. Bounds the request count; it "
+    "is NOT a liquidity criterion -- a 24h snapshot is a different statistic from the median the "
+    "gate applies, so use --probe-liquidity for that. Set equal to the admission floor so "
+    "discovery cannot be stricter than the criterion it screens for.",
 )
 @click.option("--limit", default=25, show_default=True, help="Show at most this many candidates.")
 @click.option(

keel/commands/admission.py

@@ -66,7 +66,18 @@
 #: create the cycle `cli -> tui -> admission -> cli`. `test_build_discover_report_applies_
 #: default_volume_floor_matching_assets_discover` reads the CLI option's own default and asserts
 #: it equals this constant, so the two cannot silently drift apart.
-DEFAULT_MIN_QUOTE_24H_VOLUME = Decimal("5000000")
+#: Discovery's 24h-volume pre-filter, pinned EQUAL to `ScreenPolicy.min_median_daily_volume` so a
+#: sweep can never be stricter than the gate it feeds. It bounds how many products get probed; it
+#: is not a liquidity verdict (that is `--probe-liquidity`, which computes the gate's own median).
+#:
+#: Was 5,000,000 until 2026-08-08. At that floor the sweep returned 9 candidates and exactly one
+#: unsettled survivor; at a lower floor, seven more cleared BOTH mechanical gates -- FET among them
+#: at $2.94M/24h, i.e. invisible to the sweep while measuring 4.8x the admission floor. The floor,
+#: not the market, was the binding constraint on the candidate pipeline.
+#:
+#: `tests/commands/test_admission.py` pins this to the CLI option, to `DiscoveryPolicy`'s default
+#: and to the admission floor; all four move together or the suite fails.
+DEFAULT_MIN_QUOTE_24H_VOLUME = Decimal("1000000")
 
 
 # -- 2a. shortlist location (offline) ------------------------------------------------------------

keel/compliance/screen.py

@@ -362,7 +362,7 @@ class DiscoveryPolicy:
     """
 
     quote_currency: str = "USD"
-    min_quote_24h_volume: Decimal = Decimal("5000000")
+    min_quote_24h_volume: Decimal = Decimal("1000000")
 
 
 def median_daily_quote_volume(candles: Sequence[Any]) -> Decimal:

packages/keel-broker-api/pyproject.toml

@@ -1,6 +1,6 @@
 [project]
 name = "keel-broker-api"
-version = "0.5.5"
+version = "0.5.6"
 description = "Broker port, domain types, capability model, and conformance suite for keel"
 requires-python = ">=3.14.4"
 dependencies = ["keel-core"]

packages/keel-broker-coinbase/pyproject.toml

@@ -1,6 +1,6 @@
 [project]
 name = "keel-broker-coinbase"
-version = "0.5.5"
+version = "0.5.6"
 description = "Coinbase Advanced Trade adapter for keel"
 requires-python = ">=3.14.4"
 dependencies = ["keel-core", "keel-broker-api", "coinbase-advanced-py>=1.8.4"]

packages/keel-broker-fake/pyproject.toml

@@ -1,6 +1,6 @@
 [project]
 name = "keel-broker-fake"
-version = "0.5.5"
+version = "0.5.6"
 description = "A deliberately divergent second broker adapter, to keep the port honest"
 requires-python = ">=3.14.4"
 dependencies = ["keel-core", "keel-broker-api"]

packages/keel-core/pyproject.toml

@@ -1,6 +1,6 @@
 [project]
 name = "keel-core"
-version = "0.5.5"
+version = "0.5.6"
 description = "Shared domain types, configuration, and logging for keel"
 requires-python = ">=3.14.4"
 dependencies = ["pyyaml>=6.0.3", "python-dotenv>=1.2.2"]

pyproject.toml

@@ -1,6 +1,6 @@
 [project]
 name = "keel-trader"
-version = "0.5.5"
+version = "0.5.6"
 description = "Offline-first, broker-agnostic, rule-based spot-trading agent (halal policy by default)"
 readme = "README.md"
 authors = [

tests/commands/test_admission.py

@@ -26,6 +26,7 @@
 
 import keel.cli as cli_module
 from keel.commands.admission import (
+    DEFAULT_MIN_QUOTE_24H_VOLUME,
     DEFAULT_PROPOSALS_DIR,
     DiscoverReport,
     ProposeView,
@@ -651,11 +652,11 @@ def test_build_discover_report_applies_default_volume_floor_matching_assets_disc
         p for p in cli_module.assets_discover.params if p.name == "min_volume_24h"
     )
     default_floor = Decimal(cli_option.default)
-    assert default_floor == Decimal("5000000")
+    assert default_floor == Decimal("1000000")
 
     config = _config(allowlist=[])
-    below = _venue_product("DOGE", volume="4999999")
-    above = _venue_product("SHIB", volume="5000001")
+    below = _venue_product("DOGE", volume="999999")
+    above = _venue_product("SHIB", volume="1000001")
 
     report = build_discover_report([below, above], config)
 
@@ -712,3 +713,32 @@ def test_render_discover_report_never_includes_probe_history_marker():
     text = "\n".join(lines).lower()
 
     assert "4yr?" not in text
+
+
+def test_every_discovery_floor_default_agrees():
+    """Three modules carry this default; a drift between them is silent and changes the sweep.
+
+    `cli.assets_discover`'s option, `admission.DEFAULT_MIN_QUOTE_24H_VOLUME` and
+    `screen.DiscoveryPolicy` each name a floor. The first two were already pinned to each other;
+    `DiscoveryPolicy` was not, so a caller constructing one directly (as `cli.assets_discover`
+    does) could silently use a different floor from `build_discover_report`.
+    """
+    from keel.compliance.screen import DiscoveryPolicy
+
+    cli_option = next(p for p in cli_module.assets_discover.params if p.name == "min_volume_24h")
+
+    assert Decimal(cli_option.default) == DEFAULT_MIN_QUOTE_24H_VOLUME
+    assert DiscoveryPolicy().min_quote_24h_volume == DEFAULT_MIN_QUOTE_24H_VOLUME
+
+
+def test_the_discovery_floor_matches_the_admission_liquidity_floor():
+    """Discovery should not hide assets the gate would admit.
+
+    The sweep's floor is a 24h snapshot and the gate's is a median over history -- different
+    statistics (which is why `--probe-liquidity` exists). Pinning the two NUMBERS equal keeps the
+    pre-filter from being stricter than the criterion it screens for: at the old 5x-higher floor,
+    FET sat at $2.94M/24h and never appeared, while measuring 4.8x the admission floor.
+    """
+    from keel.compliance.screen import ScreenPolicy
+
+    assert DEFAULT_MIN_QUOTE_24H_VOLUME == ScreenPolicy().min_median_daily_volume