The position
One managed range rather than a position you nurse yourself. Rebalancing, fee collection and compounding all happen on the watch.
The product
Three railsTwo of three are live
A vault, a receipt you can spend, and an execution path that does not broadcast your size. The third is common in this category; the first two are where Warden differs, because the keeper is part of the contract rather than an operational detail.
The vault and the share token are live today in the app, against contracts already deployed on chain. The bond is not built.
A share you can spend
A plain ERC-20. It moves, it lends, it posts as collateral, and it redeems against whatever the vault actually holds — a measurement, not a mark somebody publishes.
The keeper, on the hook
The keeper address is published and posts collateral. Miss a watch by more than the stated window and anyone can call the report, take the fee, and slash the bond.