Manifesto
Custody is the bug.
Escrow is the fix.
Seeds started from an uncomfortable question: what if an exchange simply refused the one power that makes exchanges dangerous? Here is what we believe, written plainly enough to be held against us.
I
Custody is the bug, not the feature
Every exchange collapse in the last decade shares one root cause: somebody else held the keys. An exchange that cannot lose your coins is not a feature request — it is the minimum viable design.
II
A phrase you can hand over is a phrase you have already lost
If a website can read your recovery phrase, so can its database admin, its attacker, and its subpoena. Seeds encrypts in your browser so the honest answer to 'can you recover my wallet?' is a flat no.
III
Convenience without disclosure is fraud
Instant access sells. We would rather tell you exactly where the sharp edges are: lose your password and your phrase, and your coins are gone. That is not a flaw in the product; that is what ownership means.
IV
Settlement should be between people
Markets do not need an omnibus account. They need a fair queue, an honest price, and an escrow both sides can verify. Seeds arbitrates; it does not accumulate.
V
Build in the open, on open chains
TEXITcoin is a public, auditable, proof-of-work chain. Anyone can verify a block, a balance, or a broadcast without asking us. Learn how it works at texitcoin.org/build.