fix profile link preview

Co-authored-by: Copilot <copilot@github.com>

.env.example

@@ -17,8 +17,15 @@ MASTODON_ACCESS_TOKEN="your-mastodon-access-token"
 WORKER_RATE_LIMIT_MS=2000
 # How often (minutes) to queue a full price-update sweep (default: 60)
 PRICE_UPDATE_INTERVAL_MINUTES=60
+# How long (hours) a hashtag stays active after being researched or after its last position closes (default: 24)
+HASHTAG_ACTIVE_HOURS=24
 # Max pagination pages to fetch when counting posts (default: 5 = up to 200 posts)
 MAX_PAGES_PER_HASHTAG=5
+# Price history retention: days to keep for active hashtags, hours for inactive ones
+PRICE_HISTORY_ACTIVE_DAYS=7
+PRICE_HISTORY_INACTIVE_HOURS=24
+# Consecutive zero-post updates before all positions are force-closed and the hashtag retired
+ZOMBIE_ZERO_COUNT=1000
 
 # Initial admin user — only used by `npm run db:seed`, not the running app.
 # Pass these at seed time: docker exec -e ADMIN_USERNAME=x -e ADMIN_PASSWORD=y <container> npm run db:seed

README.md

@@ -152,27 +152,32 @@ All variables are documented in `.env.example`. Key ones:
 
 ## Pricing Formula
 
+Prices follow a **saturating curve** (Michaelis-Menten) so that viral hashtags don't produce runaway prices:
+
 ```
-price = max($0.25, round(postsPerHour × $0.25, 2))
+price = max($0.25, round((base × pph) / (1 + k × pph), 2))
 ```
 
-Examples:
+`k` is derived from two anchor points: floor price `$0.25` and a target of `$250` at 3,600 PPH (one post per second).
 
 | Posts/hr | Price |
 |---|---|
-| 1 | $0.25 |
-| 10 | $2.50 |
-| 100 | $25.00 |
-| 1,000 | $250.00 |
-| 12,000 (e.g. #happynewyear at midnight) | $3,000.00 |
+| 1 | ~$0.25 |
+| 10 | ~$2.48 |
+| 100 | ~$23.32 |
+| 1,000 | ~$145 |
+| 3,600 (one post/sec) | ~$250 |
+| ∞ (theoretical) | ~$346 (asymptote) |
 
-**Burst handling:** when all fetched posts share a very tight timestamp window the worker paginates up to `MAX_PAGES_PER_HASHTAG` pages to get a realistic count before the span grows to > 5 minutes.
+At low activity the curve is approximately linear (≈ $0.25 per post/hr). At high activity it flattens, preventing a single trending hashtag from dwarfing the entire market.
+
+**Burst handling:** the worker fetches up to `MAX_PAGES_PER_HASHTAG` pages of Mastodon results and uses only posts within the most recent hour when calculating PPH. If the fetched results are exhausted before covering a full hour, PPH is extrapolated from the covered window.
 
 ---
 
 ## Research System
 
-- Every player earns **1 research point per day** (awarded at 00:05 UTC by the maintenance worker).
+- Every player earns **1 research point per day** (awarded at midnight EST by the maintenance worker).
 - Balance milestones unlock extra daily points:
 
   | Balance | Daily points |
@@ -217,7 +222,7 @@ Three BullMQ queues:
 |---|---|
 | `hashex-price-updates` | One job per active hashtag; fetches Mastodon and updates price + price history. Concurrency = 1 to respect rate limits. |
 | `hashex-scheduler` | Fires every `PRICE_UPDATE_INTERVAL_MINUTES`. Enqueues price-update jobs ordered by `lastUpdated ASC` (most stale first). Deduplicates by `jobId` to avoid pile-up. |
-| `hashex-maintenance` | Runs daily at 00:05 UTC. Awards research points based on each player's balance. |
+| `hashex-maintenance` | Runs daily at midnight EST. Awards research points based on each player's balance. |
 
 The worker retries failed jobs up to 3 times with exponential back-off (5 s base delay).
 
@@ -246,6 +251,35 @@ Accessible only to users with `isAdmin = true`.
 - Live view of all three BullMQ queues
 - Shows waiting, active, delayed, completed, and failed counts
 - Lists active, waiting, and recent failed jobs with payload and failure reason
+- **Retry failed** button per queue to requeue all failed jobs
+
+### Hedge Funds (`/admin/funds`)
+- Create a named hedge fund with an initial starting balance
+- Add or remove managers (by username) per fund
+- Delete a fund (removes all its positions and trade history)
+
+---
+
+## Hedge Funds
+
+Multiple players can collaborate via a **Hedge Fund** — a shared pool of capital with its own balance, positions, and trade history.
+
+### How it works
+1. An admin creates a fund at `/admin/funds` (providing a name and initial balance).
+2. The admin adds one or more players as **managers** of the fund.
+3. A manager visits `/fund/[slug]` to see the fund's portfolio.
+4. From there they can click any held position (or browse all stocks) — the link includes `?fund=[slug]`, putting the hashtag trade page in **Fund Mode**.
+5. In Fund Mode a banner confirms which fund the trade will be on behalf of. All buys and sells deduct from / credit to the fund's balance, not the manager's.
+6. The manager can return to their `/profile` at any time to trade under their own account.
+
+### Fund page (`/fund/[slug]`)
+- Public — anyone can view the fund name, balance, positions, managers, and trade history.
+- Managers see a management panel with quick links to trade each held position in Fund Mode.
+
+### Key rules
+- A fund account cannot sign in directly — it is a shadow account controlled via the manager interface.
+- A user can manage multiple funds simultaneously.
+- Funds do not earn research points or play the daily lottery.
 
 ---
 
@@ -316,7 +350,6 @@ npm run start            # Start production web server
 npm run worker:dev       # Worker with hot reload (tsx watch)
 npm run worker:prod      # Worker for production
 npm run db:push          # Apply schema changes without migrations
-npm run db:migrate       # Create and apply a migration
 npm run db:seed          # Seed the admin user
 npm run db:studio        # Open Prisma Studio (GUI)
 ```
@@ -329,113 +362,10 @@ The items below are planned improvements roughly ordered by user value. They are
 
 ---
 
-### 1. Username Display Names & Password Changes on Profile
-
-**Problem:** Usernames are forced lowercase on registration (some users want "JohnDoe" not "johndoe"). Users also have no self-service way to change their password.
-
-**Plan:**
-- Add a `displayUsername` field to `User` — stores the original mixed-case version typed at signup. Lookups/URLs continue using the lowercase `username` for uniqueness and consistency.
-- Profile settings page (`/profile/[username]/settings` or a tab on the existing profile) with:
-  - **Change display name** — updates `displayUsername` only; the canonical `username` remains lowercase and immutable (avoids breaking existing links/positions).
-  - **Change username** — updates both `username` and `displayUsername`; requires confirming no conflicts; all foreign key relations in Prisma use the DB `id` so no cascade issues.
-  - **Change password** — classic current-password + new-password + confirm form; server endpoint `PATCH /api/user/me` validating current hash before updating.
-- All places that show a username (Navbar, profile page, leaderboard, trade history) should render `displayUsername` if set, falling back to `username`.
-
----
-
-### 2. Leaderboard
-
-**Problem:** No public way to see who the top players are or browse other users' portfolios.
-
-**Plan:**
-- New page `/leaderboard` showing top N players sorted by **net worth** (balance + sum of position value at current prices).
-- Table columns: rank, avatar/username link → their public profile, net worth, total trades, biggest single position.
-- Public profiles — any user can view `/profile/[username]`; sensitive data (exact balance) optionally hidden from non-owners/non-admins.
-- Navbar: show **Leaderboard** link when signed in (replacing or supplementing the current unauthenticated-only links).
-- Consider a separate "all-time best trade" leaderboard tab for engagement.
-
----
-
-### 3. Lucky Dip Lottery
-
-**Problem:** Players who go broke have no recovery mechanic; there is no daily engagement hook beyond trading.
-
-**Plan:**
-- New page `/lottery`.
-- Once per day (tracked by a `lastLotteryAt` timestamp on `User`), a player who has **$0 or less** can reveal one hidden box from a grid (e.g. 5 × 5 = 25 boxes).
-- One box is the winner (selected server-side at draw time, stored encrypted or revealed only on pick to prevent client-side cheating).
-- **Prizes** (configurable): e.g. one box pays $100, a few pay $10, the rest pay $0.
-- API: `POST /api/lottery/pick` — validates cooldown, selects winner server-side, awards balance, returns outcome.
-- Consider allowing players with any balance to play for a small stake (e.g. pay $5 to play, win up to $200) to make it useful beyond the broke scenario.
-- Future: admin-configurable prize pool and grid size.
-
----
-
-### 4. Home Page Nav Changes (Signed-In vs Signed-Out)
-
-**Problem:** Home page shows the same call-to-action links regardless of auth state.
-
-**Plan:**
-- When **signed out**: show Sign Up / Sign In CTAs as currently.
-- When **signed in**: replace or supplement with quick links to **Leaderboard**, **Lottery**, and the user's own profile.
-- Navbar already hides/shows some items; extend that logic to the hero section of the home page.
-
----
-
-### 5. Related Hashtags
-
-**Problem:** No discovery path from one hashtag to related ones.
-
-**Plan:**
-- During price update jobs the worker already fetches up to 200 posts. Parse each post's `tags` array (present in the Mastodon API response) to collect co-occurring hashtags.
-- Store co-occurrence counts in a new `RelatedHashtag` table: `(hashtagId, relatedTag, coOccurrences)` — upsert on each price update, incrementing counts.
-- On the hashtag detail page, show the top 5 most co-occurring tags as "Related" chips that link to their own pages.
-- Only surface related tags that are themselves active (or researchable) — avoid surfacing banned/inactive noise.
-- Worker change: `MastodonPost` type already has `content`; add `tags: { name: string }[]` to the interface and parse it in `mastodon.ts`.
-
----
-
-### 6. Admin: Price Audit Log
-
-**Problem:** Admins have no visibility into the math behind a given price update.
-
-**Plan:**
-- The `PriceHistory` table already stores `postsPerHour` alongside `price`. Surface this in two places:
-  1. **Hashtag detail page** — show the most recent `postsPerHour` reading and the formula result as a tooltip or sub-line under the current price (e.g. _"$1.49 — 5.96 posts/hr at last update"_).
-  2. **Admin stocks page** — add a "History" drawer/modal per hashtag showing the last N `PriceHistory` rows as a table: `recordedAt | postsPerHour | price | Δ price` so admins can see the full audit trail.
-- No schema changes needed — `postsPerHour` is already stored.
-
----
-
-### 7. Admin: Add Hashtag Manually
-
-**Problem:** Admins cannot bypass the research-point system to seed the exchange with interesting hashtags.
-
-**Plan:**
-- "Add hashtag" button on `/admin/stocks` that opens a modal with a tag input.
-- API: `POST /api/admin/stocks` — normalizes tag, queries Mastodon immediately (same as research flow), upserts hashtag, queues an initial price-update job. Returns error if Mastodon returns nothing.
-- Optionally allow admin to force-add with a manual starting price even if Mastodon has no results (useful for bootstrapping/testing).
-
----
-
-### 8. Admin: Ban / Block Hashtags
-
-**Problem:** No way to prevent abusive or NSFW hashtags from being researched into the exchange.
-
-**Plan:**
-- Add `isBanned: Boolean @default(false)` field to the `Hashtag` model.
-- Admin UI: "Ban" button on the stocks page that sets `isBanned = true` and `isActive = false`. Banned hashtags still exist in the DB for record-keeping but are not researchable.
-- Research API (`/api/research`): check `isBanned` on any existing matching hashtag — if banned return a `403` with a user-friendly message (e.g. _"This hashtag is not available on HashEx."_) without spending a research point.
-- New pre-ban blocklist: a static list (or admin-editable table) of tags that are auto-banned on first research attempt, before any Mastodon query.
-- Banned tags should still appear in the admin stocks list with a distinct visual indicator and an "Unban" toggle.
-
----
-
 ### Other Ideas / Nice-to-Haves
 
-- **Hedge funds**: group of players pool money into a shared portfolio, one designated fund manager places trades.
 - **Email integration**: SMTP-based password reset and optional trade confirmation emails.
-- **Multi-instance support**: let users choose which Mastodon instance to pull data from per-hashtag, or aggregate across instances.
+- **Multi-instance support**: fallback to another instance if the primary instance is unavailable or throttles API calls.
 - **Mobile-optimised trade panel**: the current layout works but a dedicated bottom-sheet on mobile would improve UX.
 - **Price alerts**: users subscribe to a hashtag at a threshold price; a notification appears in the UI (or email if integrated) when it crosses that level.
 - **Dark/light theme toggle**: currently dark-only.

package.json

@@ -9,7 +9,6 @@
     "worker:dev": "tsx watch src/worker/index.ts",
     "worker:prod": "tsx src/worker/index.ts",
     "db:push": "prisma db push",
-    "db:migrate": "prisma migrate dev",
     "db:seed": "tsx prisma/seed.ts",
     "db:studio": "prisma studio",
     "postinstall": "prisma generate"

prisma/schema.prisma

@@ -19,9 +19,60 @@ model User {
   createdAt       DateTime        @default(now())
   updatedAt       DateTime        @updatedAt
 
-  positions      Position[]
-  trades         Trade[]
-  passwordResets PasswordReset[]
+  isFund         Boolean       @default(false)
+  isHidden       Boolean       @default(false)  // hidden from leaderboards and public listings
+
+  positions        Position[]
+  trades           Trade[]
+  passwordResets   PasswordReset[]
+  managedFunds     FundManager[]
+  fund             HedgeFund?
+  fundInvestments  FundInvestment[]
+  portfolioHistory UserPortfolioHistory[]
+  fundApplication  FundApplication?
+}
+
+model HedgeFund {
+  id                String        @id @default(cuid())
+  name              String        @unique
+  slug              String        @unique  // lowercase, URL-safe
+  userId            String        @unique  // shadow User account that holds positions/trades/balance
+  user              User          @relation(fields: [userId], references: [id])
+  sharesOutstanding Float         @default(0)  // total fund shares currently in circulation
+  createdAt         DateTime      @default(now())
+
+  managers    FundManager[]
+  investments FundInvestment[]
+  navHistory  FundNavHistory[]
+  trades      Trade[]
+
+  @@index([slug])
+}
+
+model FundInvestment {
+  id            String    @id @default(cuid())
+  fundId        String
+  fund          HedgeFund @relation(fields: [fundId], references: [id], onDelete: Cascade)
+  userId        String
+  user          User      @relation(fields: [userId], references: [id], onDelete: Cascade)
+  shares        Float     // fund shares held by this investor
+  avgNavAtBuy   Float     // NAV per share at time of purchase (for display only)
+  createdAt     DateTime  @default(now())
+  updatedAt     DateTime  @updatedAt
+
+  @@unique([fundId, userId])
+  @@index([userId])
+}
+
+model FundManager {
+  id      String    @id @default(cuid())
+  fundId  String
+  fund    HedgeFund @relation(fields: [fundId], references: [id], onDelete: Cascade)
+  userId  String
+  user    User      @relation(fields: [userId], references: [id], onDelete: Cascade)
+  addedAt DateTime  @default(now())
+
+  @@unique([fundId, userId])
 }
 
 model PasswordReset {
@@ -43,8 +94,10 @@ model Hashtag {
   currentPrice Float          @default(0.25)
   isActive     Boolean        @default(true)
   isBanned     Boolean        @default(false)
-  // Consecutive zero-result count; after 3 failed updates the hashtag auto-deactivates
+  // Consecutive zero-result count (informational)
   zeroCount    Int            @default(0)
+  // Earliest time this hashtag can be deactivated (set on research + when last position closes)
+  activeUntil  DateTime?
   lastUpdated  DateTime       @default(now())
   createdAt    DateTime       @default(now())
 
@@ -82,6 +135,28 @@ model PriceHistory {
   @@index([hashtagId, recordedAt])
 }
 
+model FundNavHistory {
+  id         String    @id @default(cuid())
+  fundId     String
+  fund       HedgeFund @relation(fields: [fundId], references: [id], onDelete: Cascade)
+  nav        Float
+  totalValue Float
+  recordedAt DateTime  @default(now())
+
+  @@index([fundId, recordedAt])
+}
+
+model UserPortfolioHistory {
+  id             String   @id @default(cuid())
+  userId         String
+  user           User     @relation(fields: [userId], references: [id], onDelete: Cascade)
+  totalValue     Float
+  portfolioValue Float
+  recordedAt     DateTime @default(now())
+
+  @@index([userId, recordedAt])
+}
+
 model Position {
   id           String       @id @default(cuid())
   userId       String
@@ -103,17 +178,20 @@ model Trade {
   id        String    @id @default(cuid())
   userId    String
   user      User      @relation(fields: [userId], references: [id], onDelete: Cascade)
-  hashtagId String
-  hashtag   Hashtag   @relation(fields: [hashtagId], references: [id])
+  hashtagId String?
+  hashtag   Hashtag?  @relation(fields: [hashtagId], references: [id])
+  fundId    String?
+  fund      HedgeFund? @relation(fields: [fundId], references: [id], onDelete: SetNull)
   type      TradeType
   shares    Float
-  price     Float     // price per share at time of trade
+  price     Float     // price per share at time of trade (or win amount for LOTTERY_WIN)
   total     Float     // cost/proceeds of the trade
-  profit    Float     @default(0) // realized P&L (for SELL trades)
+  profit    Float     @default(0) // realized P&L (for SELL trades and LOTTERY_WIN)
   createdAt DateTime  @default(now())
 
   @@index([userId])
   @@index([hashtagId])
+  @@index([fundId])
   @@index([createdAt])
 }
 
@@ -127,4 +205,21 @@ enum TradeType {
   SELL_LONG
   BUY_SHORT
   SELL_SHORT
+  LOTTERY_WIN
+  LIQUIDATE_LONG
+  LIQUIDATE_SHORT
+  DONATION      // keepHistory reset: user was in the green — donated their portfolio
+  BANKRUPTCY    // keepHistory reset: user was in the red — debts cleared
+  ACCOUNT_OPEN  // keepHistory reset: new $2000 account opening entry
+  FUND_INVEST   // invested cash into a hedge fund
+  FUND_REDEEM   // redeemed shares from a hedge fund
+}
+
+model FundApplication {
+  id        String   @id @default(cuid())
+  userId    String   @unique
+  user      User     @relation(fields: [userId], references: [id], onDelete: Cascade)
+  fundName  String
+  reason    String
+  createdAt DateTime @default(now())
 }

prod-compose.yml

@@ -5,6 +5,7 @@ services:
     command: sh -c "npx prisma db push --accept-data-loss && npm start"
     ports:
       - "12131:3000"
+      - "12555:5555"
     environment:
       DATABASE_URL: "${DATABASE_URL}"
       NEXTAUTH_SECRET: "${NEXTAUTH_SECRET}"
@@ -12,6 +13,14 @@ services:
       REDIS_URL: "${REDIS_URL}"
       MASTODON_INSTANCE: "${MASTODON_INSTANCE}"
       MASTODON_ACCESS_TOKEN: "${MASTODON_ACCESS_TOKEN}"
+      PRICE_UPDATE_INTERVAL_MINUTES: "${PRICE_UPDATE_INTERVAL_MINUTES:-15}"
+      ZOMBIE_ZERO_COUNT: "${ZOMBIE_ZERO_COUNT:-1000}"
+      HASHTAG_ACTIVE_HOURS: "${HASHTAG_ACTIVE_HOURS:-24}"
+      MAX_POSITION_SHARES: "${MAX_POSITION_SHARES:-100}"
+      MAX_POSITION_VALUE: "${MAX_POSITION_VALUE:-1000}"
+      FUND_MAX_POSITION_SHARES: "${FUND_MAX_POSITION_SHARES:-1000}"
+      FUND_MAX_POSITION_VALUE: "${FUND_MAX_POSITION_VALUE:-10000}"
+      TZ: "America/Toronto"
     depends_on:
       postgres:
         condition: service_healthy
@@ -28,8 +37,14 @@ services:
       MASTODON_INSTANCE: "${MASTODON_INSTANCE}"
       MASTODON_ACCESS_TOKEN: "${MASTODON_ACCESS_TOKEN}"
       WORKER_RATE_LIMIT_MS: "${WORKER_RATE_LIMIT_MS:-2000}"
-      PRICE_UPDATE_INTERVAL_MINUTES: "${PRICE_UPDATE_INTERVAL_MINUTES:-60}"
+      PRICE_UPDATE_INTERVAL_MINUTES: "${PRICE_UPDATE_INTERVAL_MINUTES:-15}"
+      HASHTAG_ACTIVE_HOURS: "${HASHTAG_ACTIVE_HOURS:-24}"
       MAX_PAGES_PER_HASHTAG: "${MAX_PAGES_PER_HASHTAG:-5}"
+      ZOMBIE_ZERO_COUNT: "${ZOMBIE_ZERO_COUNT:-1000}"
+      MASTODON_POST_LIMIT: "${MASTODON_POST_LIMIT:-20}"
+      PRICE_HISTORY_ACTIVE_DAYS: "${PRICE_HISTORY_ACTIVE_DAYS:-7}"
+      PRICE_HISTORY_INACTIVE_HOURS: "${PRICE_HISTORY_INACTIVE_HOURS:-24}"
+      TZ: "America/Toronto"
     depends_on:
       postgres:
         condition: service_healthy

src/app/about/page.tsx

@@ -0,0 +1,232 @@
+import Link from 'next/link'
+import { BookOpen, TrendingUp, TrendingDown, Coins, Shuffle, RotateCcw, Building2, ExternalLink, Github } from 'lucide-react'
+
+export const metadata = {
+  title: 'About — HashEx',
+  description: 'How HashEx works: rules, features, and quirks of the hashtag stock market.',
+}
+
+function Section({ title, icon: Icon, children }: { title: string; icon: React.ElementType; children: React.ReactNode }) {
+  return (
+    <section className="space-y-3">
+      <div className="flex items-center gap-2 border-b border-surface-border pb-2">
+        <Icon className="h-5 w-5 text-indigo-400 shrink-0" />
+        <h2 className="text-lg font-semibold">{title}</h2>
+      </div>
+      {children}
+    </section>
+  )
+}
+
+function Rule({ label, children }: { label: string; children: React.ReactNode }) {
+  return (
+    <div className="flex gap-3 text-sm">
+      <span className="text-indigo-400 font-medium shrink-0 w-32">{label}</span>
+      <span className="text-slate-300">{children}</span>
+    </div>
+  )
+}
+
+export default function AboutPage() {
+  return (
+    <div className="max-w-2xl mx-auto space-y-10 py-4">
+      {/* Header */}
+      <div>
+        <div className="flex items-center gap-3 mb-2">
+          <BookOpen className="h-7 w-7 text-indigo-400" />
+          <h1 className="text-3xl font-bold">About HashEx</h1>
+        </div>
+        <p className="text-slate-400">
+          HashEx is a stock-market simulation game where the &quot;stocks&quot; are Mastodon hashtags.
+          Prices update automatically based on real post activity. Start with{' '}
+          <span className="text-white font-medium">$2,000</span> and see how much you can grow it.
+        </p>
+      </div>
+
+      {/* Getting started */}
+      <Section title="Getting Started" icon={TrendingUp}>
+        <div className="space-y-2 text-sm text-slate-300">
+          <p>
+            Every new account starts with <span className="text-white font-medium">$2,000</span> in play money and{' '}
+            <span className="text-white font-medium">1 research point</span>.
+          </p>
+          <p>
+            Use research points to unlock hashtags. Each point lets you search for a tag on Mastodon — if it has
+            activity, it gets added to the exchange with a live price. You earn more points each day based on your
+            account balance.
+          </p>
+          <div className="bg-surface-card border border-surface-border rounded-lg p-3 space-y-1 mt-2">
+            <p className="text-xs text-slate-500 uppercase tracking-wider mb-1">Daily research points</p>
+            <div className="grid grid-cols-2 gap-x-4 text-xs">
+              <span className="text-slate-400">Balance under $10k</span><span>1 pt / day</span>
+              <span className="text-slate-400">$10k+</span><span>2 pts / day</span>
+              <span className="text-slate-400">$100k+</span><span>3 pts / day</span>
+              <span className="text-slate-400">$1M+</span><span>5 pts / day</span>
+            </div>
+          </div>
+        </div>
+      </Section>
+
+      {/* Pricing */}
+      <Section title="How Prices Work" icon={Coins}>
+        <div className="space-y-2 text-sm text-slate-300">
+          <p>
+            Every hashtag has a price derived from its posts-per-hour rate on Mastodon using a
+            {' '}<span className="text-white font-medium">saturating curve</span> — prices rise quickly at
+            low activity and flatten at high activity so a single viral tag can&apos;t dominate the market.
+          </p>
+          <div className="bg-surface-card border border-surface-border rounded-lg px-4 py-3 font-mono text-center text-indigo-300 text-xs">
+            price = (0.25 × pph) / (1 + k × pph) &nbsp;·&nbsp; floor $0.25
+          </div>
+          <div className="grid grid-cols-2 gap-x-4 text-xs mt-1">
+            <span className="text-slate-400">1 post / hr</span><span>~$0.25</span>
+            <span className="text-slate-400">10 posts / hr</span><span>~$2.48</span>
+            <span className="text-slate-400">100 posts / hr</span><span>~$23</span>
+            <span className="text-slate-400">1,000 posts / hr</span><span>~$145</span>
+            <span className="text-slate-400">3,600 posts / hr (1/sec)</span><span>~$250</span>
+            <span className="text-slate-400">∞ (asymptote)</span><span>~$346</span>
+          </div>
+          <p className="text-xs text-slate-400">
+            Prices update on a regular cycle. A hashtag that goes completely quiet for long enough will be
+            automatically <span className="text-orange-400">deactivated</span> — you&apos;ll get a warning on the
+            home page if any of your positions are at risk. Research it again to reactivate it.
+          </p>
+        </div>
+      </Section>
+
+      {/* Trade types */}
+      <Section title="Trade Types" icon={TrendingUp}>
+        <div className="space-y-3">
+          <Rule label="Buy Long">
+            Bet the price goes <span className="text-emerald-400">up</span>. You buy shares and profit when the
+            price rises above your average buy price.
+          </Rule>
+          <Rule label="Sell Long">
+            Close or reduce a long position. Profit = (current price − avg buy price) × shares.
+          </Rule>
+          <Rule label="Buy Short">
+            Bet the price goes <span className="text-red-400">down</span>. You put up collateral and profit when
+            the price falls below your entry.
+          </Rule>
+          <Rule label="Sell Short">
+            Close a short. Profit = (avg entry − current price) × shares. If the price rose above your entry you
+            take a loss — and your balance <span className="text-red-400">can go negative</span>.
+          </Rule>
+        </div>
+        <p className="text-xs text-slate-500 mt-2">
+          All trades are validated server-side. You cannot buy more than your balance, sell more shares than you hold,
+          or trade a hashtag you haven&apos;t researched.
+        </p>
+      </Section>
+
+      {/* Short selling specifics */}
+      <Section title="Short Selling — Quirks & Risks" icon={TrendingDown}>
+        <div className="space-y-2 text-sm text-slate-300">
+          <p>
+            Shorts use a <span className="text-white font-medium">collateral model</span>. When you buy short, the
+            cost is <code className="text-xs bg-surface-card px-1 py-0.5 rounded">price × shares</code>. When you
+            close, you receive back <code className="text-xs bg-surface-card px-1 py-0.5 rounded">(2 × entry − current) × shares</code>.
+          </p>
+          <p>
+            This means losses are <span className="text-red-400">uncapped</span>. If the price doubles, your
+            payout is zero. If it triples, your balance goes negative.
+          </p>
+          <p>
+            A <span className="text-red-400">negative balance</span> isn&apos;t game-over — you can still trade, but
+            your total portfolio value will show in red. You can reset your account at any time from your profile page.
+          </p>
+        </div>
+      </Section>
+
+      {/* Hedge Funds */}
+      <Section title="Hedge Funds" icon={Building2}>
+        <div className="space-y-2 text-sm text-slate-300">
+          <p>
+            Admins can create <span className="text-white font-medium">Hedge Funds</span> — shared pools of capital
+            that multiple players can manage together.
+          </p>
+          <p>
+            As a fund manager you trade on behalf of the fund by appending{' '}
+            <code className="text-xs bg-surface-card px-1 py-0.5 rounded">?fund=[slug]</code> to any hashtag page
+            (there are quick links on the fund page). A banner confirms you&apos;re in Fund Mode.
+          </p>
+          <p>
+            Outside investors can buy and sell <span className="text-white font-medium">fund shares</span> from the
+            fund&apos;s page. The NAV (net asset value) per share is calculated live from the fund&apos;s total
+            portfolio. Fund investments show up in your Holdings and Trade History.
+          </p>
+          <p className="text-slate-500 text-xs">
+            Fund shares are stored to 6 decimal places. Fund accounts cannot sign in directly and do not earn
+            research points or play the lottery.
+          </p>
+          <p className="text-xs">
+            Want to run your own fund?{' '}
+            <Link href="/fund/apply" className="text-indigo-400 hover:text-indigo-300 underline underline-offset-2">
+              Apply here →
+            </Link>
+          </p>
+        </div>
+      </Section>
+
+      {/* Account reset */}
+      <Section title="Account Reset" icon={RotateCcw}>
+        <div className="space-y-2 text-sm text-slate-300">
+          <p>
+            You can reset your account from your profile page at any time. All positions are closed and your
+            balance returns to $2,000.
+          </p>
+          <Rule label="Keep history">
+            Your trade log is preserved. A{' '}
+            <span className="text-purple-400">Donation</span> entry is recorded if you were in profit, or a{' '}
+            <span className="text-red-400">Bankruptcy</span> if you were in the red, followed by an{' '}
+            <span className="text-emerald-400">Account Open</span>.
+          </Rule>
+          <Rule label="Erase history">
+            All trade records are deleted along with the reset.
+          </Rule>
+        </div>
+      </Section>
+
+      {/* Lucky Dip */}
+      <Section title="Lucky Dip" icon={Shuffle}>
+        <p className="text-sm text-slate-300">
+          Once per day you can open the Lucky Dip lottery. Pick a box — most are empty, but a few hold cash prizes.
+          Winnings are added directly to your balance. So head over and check out our 
+          <Link href="/lucky-dip" className="text-indigo-400 hover:text-indigo-300 underline underline-offset-2">
+          Lucky Dip page</Link> now or you can always find the link on our home page.
+        </p>
+      </Section>
+
+      {/* Links */}
+      <section className="bg-surface-card border border-surface-border rounded-xl p-5 space-y-3">
+        <h2 className="text-sm font-semibold text-slate-300 uppercase tracking-wider">Links</h2>
+        <div className="space-y-2">
+          <a
+            href="https://mastodon.nervesocket.com/@ThaMunsta"
+            target="_blank"
+            rel="noopener noreferrer"
+            className="flex items-center gap-2 text-sm text-indigo-400 hover:text-indigo-300 transition-colors"
+          >
+            <ExternalLink className="h-4 w-4 shrink-0" />
+            @ThaMunsta on Mastodon — questions, feedback, bug reports
+          </a>
+          <a
+            href="https://git.dev.nervesocket.com/ThaMunsta/hashex"
+            target="_blank"
+            rel="noopener noreferrer"
+            className="flex items-center gap-2 text-sm text-indigo-400 hover:text-indigo-300 transition-colors"
+          >
+            <Github className="h-4 w-4 shrink-0" />
+            Source code — contribute or run your own instance
+          </a>
+        </div>
+      </section>
+
+      <div className="text-center">
+        <Link href="/" className="text-sm text-indigo-400 hover:text-indigo-300">
+          ← Back to the exchange
+        </Link>
+      </div>
+    </div>
+  )
+}

src/app/admin/funds/AdminFundActions.tsx

@@ -0,0 +1,292 @@
+'use client'
+
+import { useState, useRef, useEffect, useCallback } from 'react'
+import { useRouter } from 'next/navigation'
+import { formatCurrency } from '@/lib/utils'
+import { Building2, Plus, Trash2, UserPlus, UserMinus } from 'lucide-react'
+
+interface UserSuggestion {
+  id: string
+  username: string
+  displayUsername: string | null
+}
+
+interface Manager {
+  id: string
+  userId: string
+  user: { id: string; username: string; displayUsername: string | null }
+}
+
+interface Fund {
+  id: string
+  name: string
+  slug: string
+  user: { balance: number }
+  managers: Manager[]
+}
+
+export default function AdminFundActions({ funds: initialFunds }: { funds: Fund[] }) {
+  const router = useRouter()
+  const [funds, setFunds] = useState<Fund[]>(initialFunds)
+  const [creating, setCreating] = useState(false)
+  const [newName, setNewName] = useState('')
+  const [newBalance, setNewBalance] = useState('10000')
+  const [addUsername, setAddUsername] = useState<Record<string, string>>({})
+  const [suggestions, setSuggestions] = useState<Record<string, UserSuggestion[]>>({})
+  const [showSuggestions, setShowSuggestions] = useState<Record<string, boolean>>({})
+  const [expandedId, setExpandedId] = useState<string | null>(null)
+  const [error, setError] = useState('')
+  const [loading, setLoading] = useState(false)
+  const debounceRef = useRef<Record<string, ReturnType<typeof setTimeout>>>({})
+
+  const fetchSuggestions = useCallback(async (fundId: string, q: string) => {
+    if (!q.trim()) {
+      setSuggestions((s) => ({ ...s, [fundId]: [] }))
+      return
+    }
+    const res = await fetch(`/api/admin/users?q=${encodeURIComponent(q)}&limit=8`)
+    if (res.ok) {
+      const data: UserSuggestion[] = await res.json()
+      setSuggestions((s) => ({ ...s, [fundId]: data }))
+    }
+  }, [])
+
+  function handleUsernameChange(fundId: string, value: string) {
+    setAddUsername((u) => ({ ...u, [fundId]: value }))
+    setShowSuggestions((s) => ({ ...s, [fundId]: true }))
+    clearTimeout(debounceRef.current[fundId])
+    debounceRef.current[fundId] = setTimeout(() => fetchSuggestions(fundId, value), 200)
+  }
+
+  function selectSuggestion(fundId: string, username: string) {
+    setAddUsername((u) => ({ ...u, [fundId]: username }))
+    setShowSuggestions((s) => ({ ...s, [fundId]: false }))
+    setSuggestions((s) => ({ ...s, [fundId]: [] }))
+  }
+
+  async function createFund() {
+    if (!newName.trim()) return
+    setLoading(true)
+    setError('')
+    const res = await fetch('/api/admin/funds', {
+      method: 'POST',
+      headers: { 'Content-Type': 'application/json' },
+      body: JSON.stringify({ name: newName.trim(), initialBalance: parseFloat(newBalance) || 10000 }),
+    })
+    const data = await res.json()
+    setLoading(false)
+    if (!res.ok) { setError(data.error ?? 'Failed'); return }
+    setFunds([...funds, data])
+    setNewName('')
+    setNewBalance('10000')
+    setCreating(false)
+    router.refresh()
+  }
+
+  async function addManager(fundId: string) {
+    const username = (addUsername[fundId] ?? '').trim()
+    if (!username) return
+    setLoading(true)
+    setError('')
+    const res = await fetch(`/api/admin/funds/${fundId}`, {
+      method: 'PATCH',
+      headers: { 'Content-Type': 'application/json' },
+      body: JSON.stringify({ addManagerUsername: username }),
+    })
+    const data = await res.json()
+    setLoading(false)
+    if (!res.ok) { setError(data.error ?? 'Failed'); return }
+    setFunds(funds.map((f) => f.id === fundId ? { ...f, managers: data.managers } : f))
+    setAddUsername({ ...addUsername, [fundId]: '' })
+  }
+
+  async function removeManager(fundId: string, userId: string) {
+    setLoading(true)
+    const res = await fetch(`/api/admin/funds/${fundId}`, {
+      method: 'PATCH',
+      headers: { 'Content-Type': 'application/json' },
+      body: JSON.stringify({ removeManagerUserId: userId }),
+    })
+    const data = await res.json()
+    setLoading(false)
+    if (!res.ok) { setError(data.error ?? 'Failed'); return }
+    setFunds(funds.map((f) => f.id === fundId ? { ...f, managers: data.managers } : f))
+  }
+
+  async function deleteFund(fundId: string) {
+    if (!confirm('Delete this fund? This will remove all its positions and trade history.')) return
+    setLoading(true)
+    await fetch(`/api/admin/funds/${fundId}`, { method: 'DELETE' })
+    setLoading(false)
+    setFunds(funds.filter((f) => f.id !== fundId))
+    router.refresh()
+  }
+
+  return (
+    <div className="space-y-4">
+      {error && (
+        <p className="text-red-400 text-sm bg-red-400/10 border border-red-400/20 rounded-lg px-3 py-2">{error}</p>
+      )}
+
+      {/* Create form */}
+      {creating ? (
+        <div className="bg-surface-card border border-surface-border rounded-xl p-4 space-y-3">
+          <h3 className="font-medium text-sm">New Hedge Fund</h3>
+          <div className="grid grid-cols-2 gap-3">
+            <div>
+              <label className="text-xs text-slate-500 block mb-1">Fund Name</label>
+              <input
+                value={newName}
+                onChange={(e) => setNewName(e.target.value)}
+                placeholder="TechAlpha Capital"
+                className="w-full bg-surface border border-surface-border rounded-lg px-3 py-1.5 text-sm focus:outline-none focus:ring-2 focus:ring-indigo-500"
+              />
+            </div>
+            <div>
+              <label className="text-xs text-slate-500 block mb-1">Initial Balance</label>
+              <input
+                type="number"
+                value={newBalance}
+                onChange={(e) => setNewBalance(e.target.value)}
+                className="w-full bg-surface border border-surface-border rounded-lg px-3 py-1.5 text-sm focus:outline-none focus:ring-2 focus:ring-indigo-500"
+              />
+            </div>
+          </div>
+          <div className="flex gap-2">
+            <button
+              onClick={createFund}
+              disabled={loading || !newName.trim()}
+              className="px-3 py-1.5 bg-indigo-600 hover:bg-indigo-500 text-white text-xs rounded-lg disabled:opacity-50 transition-colors"
+            >
+              Create Fund
+            </button>
+            <button onClick={() => setCreating(false)} className="px-3 py-1.5 text-xs text-slate-400 hover:text-slate-100">
+              Cancel
+            </button>
+          </div>
+        </div>
+      ) : (
+        <button
+          onClick={() => setCreating(true)}
+          className="flex items-center gap-2 text-sm px-3 py-1.5 bg-indigo-600/20 border border-indigo-500/30 hover:bg-indigo-600/30 text-indigo-300 rounded-lg transition-colors"
+        >
+          <Plus className="h-4 w-4" /> New Fund
+        </button>
+      )}
+
+      {/* Funds list */}
+      {funds.length === 0 && !creating && (
+        <p className="text-slate-500 text-sm">No hedge funds yet.</p>
+      )}
+
+      {funds.map((fund) => (
+        <div key={fund.id} className="bg-surface-card border border-surface-border rounded-xl">
+          <div
+            className="flex items-center justify-between px-4 py-3 cursor-pointer hover:bg-surface/50 transition-colors rounded-t-xl"
+            onClick={() => setExpandedId(expandedId === fund.id ? null : fund.id)}
+          >
+            <div className="flex items-center gap-3">
+              <Building2 className="h-4 w-4 text-indigo-400" />
+              <div>
+                <p className="font-medium text-sm">{fund.name}</p>
+                <p className="text-xs text-slate-500">/fund/{fund.slug} · {formatCurrency(fund.user.balance)}</p>
+              </div>
+            </div>
+            <div className="flex items-center gap-3 text-xs text-slate-500">
+              <span>{fund.managers.length} manager{fund.managers.length !== 1 ? 's' : ''}</span>
+              <a
+                href={`/fund/${fund.slug}`}
+                target="_blank"
+                rel="noopener noreferrer"
+                onClick={(e) => e.stopPropagation()}
+                className="text-indigo-400 hover:text-indigo-300"
+              >
+                View →
+              </a>
+              <button
+                onClick={(e) => { e.stopPropagation(); deleteFund(fund.id) }}
+                disabled={loading}
+                className="text-red-500 hover:text-red-400 disabled:opacity-50"
+              >
+                <Trash2 className="h-3.5 w-3.5" />
+              </button>
+            </div>
+          </div>
+
+          {expandedId === fund.id && (
+            <div className="border-t border-surface-border px-4 py-3 space-y-3">
+              {/* Current managers */}
+              <div>
+                <p className="text-xs text-slate-500 mb-2 font-medium">Managers</p>
+                {fund.managers.length === 0 ? (
+                  <p className="text-xs text-slate-600">None yet.</p>
+                ) : (
+                  <div className="flex flex-wrap gap-2">
+                    {fund.managers.map((m) => (
+                      <div key={m.id} className="flex items-center gap-1.5 text-xs bg-surface border border-surface-border rounded-full px-2.5 py-1">
+                        <span>{m.user.displayUsername ?? m.user.username}</span>
+                        <button
+                          onClick={() => removeManager(fund.id, m.userId)}
+                          disabled={loading}
+                          className="text-slate-500 hover:text-red-400 disabled:opacity-50"
+                        >
+                          <UserMinus className="h-3 w-3" />
+                        </button>
+                      </div>
+                    ))}
+                  </div>
+                )}
+              </div>
+
+              {/* Add manager */}
+              <div className="flex gap-2">
+                <div className="relative flex-1">
+                  <input
+                    value={addUsername[fund.id] ?? ''}
+                    onChange={(e) => handleUsernameChange(fund.id, e.target.value)}
+                    placeholder="username"
+                    onKeyDown={(e) => {
+                      if (e.key === 'Enter') { e.preventDefault(); addManager(fund.id) }
+                      if (e.key === 'Escape') setShowSuggestions((s) => ({ ...s, [fund.id]: false }))
+                    }}
+                    onFocus={() => {
+                      if ((addUsername[fund.id] ?? '').trim()) {
+                        setShowSuggestions((s) => ({ ...s, [fund.id]: true }))
+                      }
+                    }}
+                    onBlur={() => setTimeout(() => setShowSuggestions((s) => ({ ...s, [fund.id]: false })), 150)}
+                    className="w-full bg-surface border border-surface-border rounded-lg px-3 py-1.5 text-xs focus:outline-none focus:ring-2 focus:ring-indigo-500"
+                  />
+                  {showSuggestions[fund.id] && (suggestions[fund.id] ?? []).length > 0 && (
+                    <div className="absolute z-10 top-full mt-1 left-0 right-0 bg-surface-card border border-surface-border rounded-lg shadow-lg overflow-hidden">
+                      {suggestions[fund.id].map((u) => (
+                        <button
+                          key={u.id}
+                          type="button"
+                          onMouseDown={() => selectSuggestion(fund.id, u.username)}
+                          className="w-full text-left px-3 py-2 text-xs hover:bg-indigo-500/10 transition-colors flex items-center justify-between"
+                        >
+                          <span className="font-medium text-slate-200">{u.username}</span>
+                          {u.displayUsername && u.displayUsername !== u.username && (
+                            <span className="text-slate-500">{u.displayUsername}</span>
+                          )}
+                        </button>
+                      ))}
+                    </div>
+                  )}
+                </div>
+                <button
+                  onClick={() => addManager(fund.id)}
+                  disabled={loading || !(addUsername[fund.id] ?? '').trim()}
+                  className="flex items-center gap-1.5 px-3 py-1.5 bg-emerald-600/20 border border-emerald-500/30 hover:bg-emerald-600/30 text-emerald-300 text-xs rounded-lg disabled:opacity-50 transition-colors shrink-0"
+                >
+                  <UserPlus className="h-3 w-3" /> Add Manager
+                </button>
+              </div>
+            </div>
+          )}
+        </div>
+      ))}
+    </div>
+  )
+}

src/app/admin/funds/AdminFundApplications.tsx

@@ -0,0 +1,165 @@
+'use client'
+
+import { useState } from 'react'
+import { useRouter } from 'next/navigation'
+import { FileText, X, ChevronDown, ChevronUp } from 'lucide-react'
+
+interface Applicant {
+  id: string
+  username: string
+  displayUsername: string | null
+  managedFunds: { fund: { name: string; slug: string } }[]
+}
+
+interface Application {
+  id: string
+  fundName: string
+  reason: string
+  createdAt: string
+  user: Applicant
+}
+
+export default function AdminFundApplications({ applications: initial }: { applications: Application[] }) {
+  const router = useRouter()
+  const [applications, setApplications] = useState<Application[]>(initial)
+  const [expanded, setExpanded] = useState<string | null>(null)
+  const [startingBalance, setStartingBalance] = useState('10000')
+  const [error, setError] = useState('')
+  const [loading, setLoading] = useState(false)
+
+  async function approve(app: Application) {
+    setLoading(true)
+    setError('')
+    const res = await fetch(`/api/admin/fund-applications/${app.id}`, {
+      method: 'POST',
+      headers: { 'Content-Type': 'application/json' },
+      body: JSON.stringify({ action: 'approve', startingBalance: parseFloat(startingBalance) || 0 }),
+    })
+    const data = await res.json()
+    setLoading(false)
+    if (!res.ok) { setError(data.error ?? 'Failed'); return }
+    setApplications(applications.filter((a) => a.id !== app.id))
+    setExpanded(null)
+    router.refresh()
+  }
+
+  async function deny(id: string, e: React.MouseEvent) {
+    e.stopPropagation()
+    if (!confirm('Deny this application? The applicant will not be notified.')) return
+    setLoading(true)
+    const res = await fetch(`/api/admin/fund-applications/${id}`, {
+      method: 'POST',
+      headers: { 'Content-Type': 'application/json' },
+      body: JSON.stringify({ action: 'deny' }),
+    })
+    setLoading(false)
+    if (res.ok) {
+      setApplications(applications.filter((a) => a.id !== id))
+      router.refresh()
+    }
+  }
+
+  if (applications.length === 0) {
+    return (
+      <p className="text-slate-500 text-sm">No pending fund applications.</p>
+    )
+  }
+
+  return (
+    <div className="space-y-3">
+      {error && (
+        <p className="text-red-400 text-sm bg-red-400/10 border border-red-400/20 rounded-lg px-3 py-2">{error}</p>
+      )}
+      {applications.map((app) => {
+        const isOpen = expanded === app.id
+        return (
+          <div key={app.id} className="bg-surface-card border border-amber-500/20 rounded-xl overflow-hidden">
+            {/* Clickable header row */}
+            <div
+              className="flex items-start justify-between px-4 py-3 cursor-pointer hover:bg-surface/50 transition-colors"
+              onClick={() => setExpanded(isOpen ? null : app.id)}
+            >
+              <div className="flex items-start gap-3 min-w-0">
+                <FileText className="h-4 w-4 text-amber-400 mt-0.5 shrink-0" />
+                <div className="min-w-0">
+                  <p className="font-medium text-sm">{app.fundName}</p>
+                  <p className="text-xs text-slate-500">
+                    by{' '}
+                    <span className="text-slate-300">{app.user.displayUsername ?? app.user.username}</span>
+                    {' '}· {new Date(app.createdAt).toLocaleDateString()}
+                  </p>
+                </div>
+              </div>
+              <div className="flex items-center gap-2 ml-4 shrink-0">
+                <button
+                  onClick={(e) => deny(app.id, e)}
+                  disabled={loading}
+                  className="p-1.5 text-red-400 hover:text-red-300 hover:bg-red-400/10 rounded-lg transition-colors disabled:opacity-50"
+                  title="Deny application"
+                >
+                  <X className="h-4 w-4" />
+                </button>
+                {isOpen ? <ChevronUp className="h-4 w-4 text-slate-400" /> : <ChevronDown className="h-4 w-4 text-slate-400" />}
+              </div>
+            </div>
+
+            {/* Expanded: reason + approve form */}
+            {isOpen && (
+              <div className="border-t border-surface-border px-4 pt-3 pb-4 space-y-4">
+                <p className="text-sm text-slate-300 whitespace-pre-wrap">{app.reason}</p>
+
+                <div className="space-y-2">
+                  <p className="text-xs text-slate-400">
+                    Approve <span className="text-white font-medium">{app.fundName}</span> for{' '}
+                    <span className="text-slate-200">{app.user.displayUsername ?? app.user.username}</span>
+                    {app.user.managedFunds.length > 0 && (
+                      <span className="text-slate-500">
+                        {' '}(also manages{' '}
+                        {app.user.managedFunds.map((m, i) => (
+                          <span key={m.fund.slug}>
+                            {i > 0 && ', '}
+                            <a
+                              href={`/fund/${m.fund.slug}`}
+                              target="_blank"
+                              rel="noopener noreferrer"
+                              className="text-indigo-400 hover:text-indigo-300 underline underline-offset-2"
+                            >
+                              {m.fund.name}
+                            </a>
+                          </span>
+                        ))}
+                        )
+                      </span>
+                    )}
+                  </p>
+                  <div className="flex items-center gap-3">
+                    <div>
+                      <label className="text-xs text-slate-500 block mb-1">Starting Balance ($)</label>
+                      <input
+                        type="number"
+                        min="0"
+                        value={startingBalance}
+                        onClick={(e) => e.stopPropagation()}
+                        onChange={(e) => setStartingBalance(e.target.value)}
+                        className="w-32 bg-surface border border-surface-border rounded-lg px-3 py-1.5 text-sm focus:outline-none focus:ring-2 focus:ring-green-500"
+                      />
+                    </div>
+                    <div className="flex gap-2 mt-4">
+                      <button
+                        onClick={() => approve(app)}
+                        disabled={loading}
+                        className="px-3 py-1.5 bg-green-600 hover:bg-green-500 text-white text-xs rounded-lg disabled:opacity-50 transition-colors"
+                      >
+                        Confirm Approval
+                      </button>
+                    </div>
+                  </div>
+                </div>
+              </div>
+            )}
+          </div>
+        )
+      })}
+    </div>
+  )
+}

src/app/admin/funds/page.tsx

@@ -0,0 +1,59 @@
+import { prisma } from '@/lib/prisma'
+import AdminFundActions from './AdminFundActions'
+import AdminFundApplications from './AdminFundApplications'
+
+export const dynamic = 'force-dynamic'
+
+export default async function AdminFundsPage() {
+  const [funds, applications] = await Promise.all([
+    prisma.hedgeFund.findMany({
+      orderBy: { createdAt: 'asc' },
+      include: {
+        user: { select: { balance: true } },
+        managers: {
+          include: { user: { select: { id: true, username: true, displayUsername: true } } },
+          orderBy: { addedAt: 'asc' },
+        },
+      },
+    }),
+    prisma.fundApplication.findMany({
+      orderBy: { createdAt: 'asc' },
+      include: {
+        user: {
+          select: {
+            id: true,
+            username: true,
+            displayUsername: true,
+            managedFunds: { select: { fund: { select: { name: true, slug: true } } } },
+          },
+        },
+      },
+    }),
+  ])
+
+  const serialisedApplications = applications.map((a) => ({
+    ...a,
+    createdAt: a.createdAt.toISOString(),
+  }))
+
+  return (
+    <div className="space-y-8">
+      <div className="space-y-4">
+        <h2 className="text-lg font-semibold flex items-center gap-2">
+          Fund Applications
+          {applications.length > 0 && (
+            <span className="text-xs bg-amber-500/20 text-amber-400 border border-amber-500/30 rounded-full px-2 py-0.5">
+              {applications.length}
+            </span>
+          )}
+        </h2>
+        <AdminFundApplications applications={serialisedApplications} />
+      </div>
+
+      <div className="space-y-4">
+        <h2 className="text-lg font-semibold">Hedge Funds</h2>
+        <AdminFundActions funds={funds} />
+      </div>
+    </div>
+  )
+}

src/app/admin/layout.tsx

@@ -20,6 +20,7 @@ export default async function AdminLayout({ children }: { children: React.ReactN
           { href: '/admin', label: 'Overview' },
           { href: '/admin/users', label: 'Users' },
           { href: '/admin/stocks', label: 'Stocks' },
+          { href: '/admin/funds', label: 'Funds' },
           { href: '/admin/queue', label: 'Queue' },
         ].map((link) => (
           <a

src/app/admin/page.tsx

@@ -20,6 +20,7 @@ export default async function AdminOverviewPage() {
         },
       }),
       prisma.user.findMany({
+        where: { isFund: false, isHidden: false },
         orderBy: { balance: 'desc' },
         take: 10,
         select: { id: true, username: true, balance: true, isAdmin: true },
@@ -66,22 +67,43 @@ export default async function AdminOverviewPage() {
             Recent trades
           </h2>
           <div className="divide-y divide-surface-border">
-            {recentTrades.map((t) => (
-              <div key={t.id} className="flex items-center justify-between px-4 py-2.5 text-sm">
-                <div className="flex items-center gap-2">
-                  <span
-                    className={`text-xs px-1.5 py-0.5 rounded ${
-                      t.type.startsWith('BUY') ? 'bg-emerald-500/15 text-emerald-400' : 'bg-red-500/15 text-red-400'
-                    }`}
-                  >
-                    {t.type.replace('_', ' ')}
-                  </span>
-                  <span className="text-slate-300">{t.user.username}</span>
-                  <span className="text-slate-500">#{t.hashtag.displayTag}</span>
+            {recentTrades.map((t) => {
+              const isLottery = t.type === 'LOTTERY_WIN'
+              const isBuy = t.type.startsWith('BUY')
+              const isSell = t.type === 'SELL_LONG' || t.type === 'SELL_SHORT'
+              const isFundTrade = t.type === 'FUND_INVEST' || t.type === 'FUND_REDEEM'
+              const isSystem = t.type === 'ACCOUNT_OPEN' || t.type === 'DONATION' || t.type === 'BANKRUPTCY'
+              const badgeClass = isLottery
+                ? 'bg-amber-500/15 text-amber-400'
+                : isFundTrade
+                  ? 'bg-indigo-500/15 text-indigo-400'
+                  : isSystem
+                    ? 'bg-slate-500/15 text-slate-400'
+                    : isBuy
+                      ? 'bg-emerald-500/15 text-emerald-400'
+                      : isSell
+                        ? 'bg-red-500/15 text-red-400'
+                        : 'bg-slate-500/15 text-slate-400'
+              const label = t.hashtag
+                ? `#${t.hashtag.displayTag}`
+                : isLottery
+                  ? 'Lucky Dip'
+                  : isFundTrade
+                    ? 'Fund'
+                    : null
+              return (
+                <div key={t.id} className="flex items-center justify-between px-4 py-2.5 text-sm">
+                  <div className="flex items-center gap-2">
+                    <span className={`text-xs px-1.5 py-0.5 rounded ${badgeClass}`}>
+                      {t.type.replace(/_/g, ' ')}
+                    </span>
+                    <span className="text-slate-300">{t.user.username}</span>
+                    {label && <span className="text-slate-500">{label}</span>}
+                  </div>
+                  <span>{formatCurrency(t.total)}</span>
                 </div>
-                <span>{formatCurrency(t.total)}</span>
-              </div>
-            ))}
+              )
+            })}
           </div>
         </div>
       </div>

src/app/admin/queue/page.tsx

@@ -1,5 +1,7 @@
-import { priceUpdateQueue, maintenanceQueue, schedulerQueue } from '@/lib/queue'
+import { priceUpdateQueue, maintenanceQueue, schedulerQueue, fundNavSnapshotQueue } from '@/lib/queue'
 import { formatDistanceToNow } from 'date-fns'
+import RetryFailedButton from '@/components/admin/RetryFailedButton'
+import TriggerJobButton from '@/components/admin/TriggerJobButton'
 
 export const dynamic = 'force-dynamic'
 
@@ -68,13 +70,21 @@ async function getQueueSummary(queue: typeof priceUpdateQueue): Promise<QueueSum
 }
 
 export default async function AdminQueuePage() {
-  const [priceSummary, maintenanceSummary, schedulerSummary] = await Promise.all([
+  const [priceSummary, maintenanceSummary, schedulerSummary, fundNavSummary] = await Promise.all([
     getQueueSummary(priceUpdateQueue),
     getQueueSummary(maintenanceQueue),
     getQueueSummary(schedulerQueue),
+    getQueueSummary(fundNavSnapshotQueue),
   ])
 
-  const queues = [priceSummary, maintenanceSummary, schedulerSummary]
+  const queues = [priceSummary, maintenanceSummary, schedulerSummary, fundNavSummary]
+
+  // Queues that support a manual trigger, and the label to show
+  const triggerLabels: Record<string, string> = {
+    'hashex-scheduler': 'Trigger sweep',
+    'hashex-maintenance': 'Run maintenance',
+    'hashex-fund-nav-snapshot': 'Snapshot NAVs',
+  }
 
   return (
     <div className="space-y-6">
@@ -89,6 +99,10 @@ export default async function AdminQueuePage() {
           <div className="flex items-center justify-between px-4 py-3 border-b border-surface-border">
             <h3 className="font-medium text-sm">{q.name}</h3>
             <div className="flex items-center gap-3 text-xs">
+              {triggerLabels[q.name] && (
+                <TriggerJobButton queueName={q.name} label={triggerLabels[q.name]} />
+              )}
+              <RetryFailedButton queueName={q.name} count={q.failed} />
               <Badge label="waiting" count={q.waiting} color="slate" />
               <Badge label="active" count={q.active} color="indigo" />
               <Badge label="delayed" count={q.delayed} color="amber" />

src/app/admin/stocks/page.tsx

@@ -29,7 +29,7 @@ export default async function AdminStocksPage({ searchParams }: Props) {
       skip,
       take: pageSize,
       include: {
-        _count: { select: { positions: true, trades: true } },
+        _count: { select: { positions: { where: { shares: { gt: 0 } } }, trades: true } },
       },
     }),
     prisma.hashtag.count({ where }),
@@ -85,7 +85,10 @@ export default async function AdminStocksPage({ searchParams }: Props) {
             {hashtags.map((h) => (
               <tr key={h.id} className="hover:bg-surface-hover">
                 <td className="px-4 py-3">
-                  <a href={`/hashtag/${h.tag}`} className="hover:text-indigo-300">
+                  <a
+                    href={`/hashtag/${h.tag}`}
+                    className={`hover:text-indigo-300 ${!h.isActive && !h.isBanned ? 'text-slate-500' : ''}`}
+                  >
                     #{h.displayTag}
                   </a>
                 </td>

src/app/admin/users/AdminUserActions.tsx

@@ -10,6 +10,7 @@ interface UserData {
   balance: number
   researchPoints: number
   isAdmin: boolean
+  isHidden: boolean
 }
 
 export function AdminUserActions({ user }: { user: UserData }) {
@@ -17,9 +18,18 @@ export function AdminUserActions({ user }: { user: UserData }) {
   const [open, setOpen] = useState(false)
   const [balance, setBalance] = useState(String(user.balance))
   const [points, setPoints] = useState(String(user.researchPoints))
+  const [hidden, setHidden] = useState(user.isHidden)
+  const [isAdmin, setIsAdmin] = useState(user.isAdmin)
   const [loading, setLoading] = useState(false)
   const [resetUrl, setResetUrl] = useState<string | null>(null)
+  const [lotteryReset, setLotteryReset] = useState(false)
   const [error, setError] = useState('')
+  const [deleteConfirm, setDeleteConfirm] = useState('')
+  const [deleteError, setDeleteError] = useState('')
+  const [accountResetConfirm, setAccountResetConfirm] = useState('')
+  const [accountResetError, setAccountResetError] = useState('')
+  const [accountResetDone, setAccountResetDone] = useState(false)
+  const [resetKeepHistory, setResetKeepHistory] = useState(false)
 
   async function handleSave() {
     setLoading(true)
@@ -30,6 +40,8 @@ export function AdminUserActions({ user }: { user: UserData }) {
       body: JSON.stringify({
         balance: parseFloat(balance),
         researchPoints: parseInt(points, 10),
+        isHidden: hidden,
+        isAdmin,
       }),
     })
     const data = await res.json()
@@ -57,17 +69,75 @@ export function AdminUserActions({ user }: { user: UserData }) {
     }
   }
 
+  async function handleResetLottery() {
+    setLoading(true)
+    setError('')
+    const res = await fetch(`/api/admin/users/${user.id}`, {
+      method: 'PATCH',
+      headers: { 'Content-Type': 'application/json' },
+      body: JSON.stringify({ resetLotteryAt: true }),
+    })
+    const data = await res.json()
+    setLoading(false)
+    if (!res.ok) {
+      setError(data.error ?? 'Reset failed.')
+    } else {
+      setLotteryReset(true)
+    }
+  }
+
+  async function handleDelete() {
+    if (deleteConfirm !== user.username) {
+      setDeleteError('Username does not match.')
+      return
+    }
+    setLoading(true)
+    setDeleteError('')
+    const res = await fetch(`/api/admin/users/${user.id}`, { method: 'DELETE' })
+    const data = await res.json()
+    setLoading(false)
+    if (!res.ok) {
+      setDeleteError(data.error ?? 'Delete failed.')
+    } else {
+      setOpen(false)
+      router.refresh()
+    }
+  }
+
+  async function handleAccountReset() {
+    if (accountResetConfirm !== user.username) {
+      setAccountResetError('Username does not match.')
+      return
+    }
+    setLoading(true)
+    setAccountResetError('')
+    const res = await fetch(`/api/admin/users/${user.id}/reset`, {
+      method: 'POST',
+      headers: { 'Content-Type': 'application/json' },
+      body: JSON.stringify({ keepHistory: resetKeepHistory }),
+    })
+    const data = await res.json()
+    setLoading(false)
+    if (!res.ok) {
+      setAccountResetError(data.error ?? 'Reset failed.')
+    } else {
+      setAccountResetDone(true)
+      setAccountResetConfirm('')
+      router.refresh()
+    }
+  }
+
   return (
     <>
       <button
-        onClick={() => { setOpen(true); setResetUrl(null); setError('') }}
+        onClick={() => { setOpen(true); setResetUrl(null); setError(''); setDeleteConfirm(''); setDeleteError(''); setAccountResetConfirm(''); setAccountResetError(''); setAccountResetDone(false); setResetKeepHistory(false) }}
         className="text-xs text-indigo-400 hover:text-indigo-300 transition-colors"
       >
         Edit
       </button>
 
       {open && (
-        <div className="fixed inset-0 z-50 bg-black/60 flex items-center justify-center p-4" onClick={() => setOpen(false)}>
+        <div className="fixed inset-0 z-50 bg-black/80 backdrop-blur-sm flex items-center justify-center p-4" onClick={() => setOpen(false)}>
           <div
             className="bg-surface-card border border-surface-border rounded-xl p-6 w-full max-w-md space-y-4"
             onClick={(e) => e.stopPropagation()}
@@ -95,6 +165,40 @@ export function AdminUserActions({ user }: { user: UserData }) {
                   className="w-full bg-surface border border-surface-border rounded-lg px-3 py-2 text-sm focus:outline-none focus:ring-2 focus:ring-indigo-500"
                 />
               </div>
+              <div className="flex items-center justify-between">
+                <div>
+                  <label className="text-sm text-slate-400">Hidden from leaderboards</label>
+                  <p className="text-xs text-slate-500">Excludes this user from public rankings</p>
+                </div>
+                <button
+                  type="button"
+                  onClick={() => setHidden((h) => !h)}
+                  className={`relative inline-flex h-6 w-11 items-center rounded-full transition-colors ${
+                    hidden ? 'bg-indigo-600' : 'bg-slate-600'
+                  }`}
+                >
+                  <span className={`inline-block h-4 w-4 transform rounded-full bg-white transition-transform ${
+                    hidden ? 'translate-x-6' : 'translate-x-1'
+                  }`} />
+                </button>
+              </div>
+              <div className="flex items-center justify-between">
+                <div>
+                  <label className="text-sm text-slate-400">Admin</label>
+                  <p className="text-xs text-slate-500">Full access to the admin panel</p>
+                </div>
+                <button
+                  type="button"
+                  onClick={() => setIsAdmin((a) => !a)}
+                  className={`relative inline-flex h-6 w-11 items-center rounded-full transition-colors ${
+                    isAdmin ? 'bg-amber-500' : 'bg-slate-600'
+                  }`}
+                >
+                  <span className={`inline-block h-4 w-4 transform rounded-full bg-white transition-transform ${
+                    isAdmin ? 'translate-x-6' : 'translate-x-1'
+                  }`} />
+                </button>
+              </div>
             </div>
 
             {error && (
@@ -103,7 +207,22 @@ export function AdminUserActions({ user }: { user: UserData }) {
               </p>
             )}
 
-            {/* Reset URL section */}
+            {/* Lucky Dip reset */}
+            <div className="border-t border-surface-border pt-4">
+              <p className="text-sm text-slate-400 mb-2">Lucky Dip</p>
+              <button
+                onClick={handleResetLottery}
+                disabled={loading || lotteryReset}
+                className="text-sm bg-indigo-600/20 hover:bg-indigo-600/30 text-indigo-400 border border-indigo-500/30 px-4 py-1.5 rounded-lg transition-colors disabled:opacity-50"
+              >
+                {lotteryReset ? 'Reset ✓' : 'Reset today\'s play'}
+              </button>
+              {lotteryReset && (
+                <p className="text-xs text-slate-500 mt-1">Player can play again today.</p>
+              )}
+            </div>
+
+            {/* Password reset */}
             <div className="border-t border-surface-border pt-4">
               <p className="text-sm text-slate-400 mb-2">Password reset</p>
               <button
@@ -127,6 +246,86 @@ export function AdminUserActions({ user }: { user: UserData }) {
               )}
             </div>
 
+            {/* Account reset */}
+            <div className="border-t border-amber-500/20 pt-4">
+              <p className="text-sm text-amber-400 mb-1 font-medium">Reset account</p>
+              <p className="text-xs text-slate-500 mb-2">
+                {resetKeepHistory
+                  ? 'Keeps trade history and adds DONATION/BANKRUPTCY + ACCOUNT OPEN bookmark entries. Balance resets to $2,000.'
+                  : 'Permanently erases all trade history, positions, and fund investments, then resets the balance to $2,000.'}
+              </p>
+              <div className="flex items-center justify-between mb-3">
+                <div>
+                  <p className="text-xs text-slate-400">Keep trade history</p>
+                  <p className="text-xs text-slate-500">Add reset bookmarks instead of erasing</p>
+                </div>
+                <button
+                  type="button"
+                  onClick={() => setResetKeepHistory((v) => !v)}
+                  className={`relative inline-flex h-5 w-9 items-center rounded-full transition-colors ${
+                    resetKeepHistory ? 'bg-amber-500' : 'bg-slate-600'
+                  }`}
+                >
+                  <span className={`inline-block h-3 w-3 transform rounded-full bg-white transition-transform ${
+                    resetKeepHistory ? 'translate-x-5' : 'translate-x-1'
+                  }`} />
+                </button>
+              </div>
+              {accountResetDone ? (
+                <p className="text-xs text-emerald-400">✓ Account has been reset.</p>
+              ) : (
+                <div className="space-y-2">
+                  <input
+                    type="text"
+                    value={accountResetConfirm}
+                    onChange={(e) => setAccountResetConfirm(e.target.value)}
+                    placeholder={`Type "${user.username}" to confirm`}
+                    autoComplete="off"
+                    className="w-full bg-surface border border-amber-500/30 focus:border-amber-500 rounded-lg px-3 py-2 text-sm focus:outline-none"
+                  />
+                  {accountResetError && (
+                    <p className="text-red-400 text-xs">{accountResetError}</p>
+                  )}
+                  <button
+                    onClick={handleAccountReset}
+                    disabled={loading || accountResetConfirm !== user.username}
+                    className="text-sm bg-amber-700/30 hover:bg-amber-700/50 text-amber-400 border border-amber-500/30 px-4 py-1.5 rounded-lg transition-colors disabled:opacity-50 disabled:cursor-not-allowed"
+                  >
+                    {loading ? 'Resetting…' : 'Reset account'}
+                  </button>
+                </div>
+              )}
+            </div>
+
+            {/* Danger zone — delete user */}
+            <div className="border-t border-red-500/20 pt-4">
+              <p className="text-sm text-red-400 mb-1 font-medium">Danger zone</p>
+              <p className="text-xs text-slate-500 mb-3">
+                Permanently deletes this account, all trades, positions, and history.
+                Fund investments will be forfeited to their respective funds.
+              </p>
+              <div className="space-y-2">
+                <input
+                  type="text"
+                  value={deleteConfirm}
+                  onChange={(e) => setDeleteConfirm(e.target.value)}
+                  placeholder={`Type "${user.username}" to confirm`}
+                  autoComplete="off"
+                  className="w-full bg-surface border border-red-500/30 focus:border-red-500 rounded-lg px-3 py-2 text-sm focus:outline-none"
+                />
+                {deleteError && (
+                  <p className="text-red-400 text-xs">{deleteError}</p>
+                )}
+                <button
+                  onClick={handleDelete}
+                  disabled={loading || deleteConfirm !== user.username}
+                  className="text-sm bg-red-700/30 hover:bg-red-700/50 text-red-400 border border-red-500/30 px-4 py-1.5 rounded-lg transition-colors disabled:opacity-50 disabled:cursor-not-allowed"
+                >
+                  {loading ? 'Deleting…' : 'Delete account'}
+                </button>
+              </div>
+            </div>
+
             <div className="flex justify-end gap-3 pt-2">
               <button
                 onClick={() => setOpen(false)}

src/app/admin/users/page.tsx

@@ -30,6 +30,7 @@ export default async function AdminUsersPage({ searchParams }: Props) {
         balance: true,
         researchPoints: true,
         isAdmin: true,
+        isHidden: true,
         createdAt: true,
         _count: { select: { trades: true, positions: true } },
       },
@@ -73,7 +74,7 @@ export default async function AdminUsersPage({ searchParams }: Props) {
           </thead>
           <tbody className="divide-y divide-surface-border">
             {users.map((user) => (
-              <tr key={user.id} className="hover:bg-surface-hover transition-colors">
+              <tr key={user.id} className={`hover:bg-surface-hover transition-colors ${user.isHidden ? 'opacity-50' : ''}`}>
                 <td className="px-4 py-3">
                   <div className="flex items-center gap-2">
                     <a href={`/profile/${user.username}`} className="hover:text-indigo-300">
@@ -84,6 +85,11 @@ export default async function AdminUsersPage({ searchParams }: Props) {
                         admin
                       </span>
                     )}
+                    {user.isHidden && (
+                      <span className="text-xs bg-slate-500/20 text-slate-400 px-1.5 rounded">
+                        hidden
+                      </span>
+                    )}
                   </div>
                 </td>
                 <td className="px-4 py-3 font-medium">{formatCurrency(user.balance)}</td>

src/app/api/admin/fund-applications/[applicationId]/route.ts

@@ -0,0 +1,100 @@
+import { NextRequest, NextResponse } from 'next/server'
+import { getServerSession } from 'next-auth'
+import { authOptions } from '@/lib/auth'
+import { prisma } from '@/lib/prisma'
+import { z } from 'zod'
+import bcrypt from 'bcryptjs'
+
+function toSlug(name: string) {
+  return name.toLowerCase().replace(/[^a-z0-9]+/g, '-').replace(/^-|-$/g, '')
+}
+
+const approveSchema = z.object({
+  action: z.literal('approve'),
+  startingBalance: z.number().min(0).default(0),
+})
+
+const denySchema = z.object({
+  action: z.literal('deny'),
+})
+
+/**
+ * POST /api/admin/fund-applications/[applicationId]
+ * action: 'approve' — creates the fund, adds applicant as manager, deletes the application
+ * action: 'deny'    — deletes the application
+ */
+export async function POST(
+  req: NextRequest,
+  { params }: { params: { applicationId: string } }
+) {
+  const session = await getServerSession(authOptions)
+  if (!session?.user?.isAdmin) {
+    return NextResponse.json({ error: 'Forbidden' }, { status: 403 })
+  }
+
+  const application = await prisma.fundApplication.findUnique({
+    where: { id: params.applicationId },
+    include: { user: { select: { id: true, username: true } } },
+  })
+  if (!application) {
+    return NextResponse.json({ error: 'Application not found' }, { status: 404 })
+  }
+
+  const body = await req.json()
+
+  if (body.action === 'deny') {
+    await prisma.fundApplication.delete({ where: { id: params.applicationId } })
+    return NextResponse.json({ ok: true })
+  }
+
+  const parsed = approveSchema.safeParse(body)
+  if (!parsed.success) {
+    return NextResponse.json({ error: parsed.error.errors[0]?.message ?? 'Invalid input' }, { status: 400 })
+  }
+
+  const { startingBalance } = parsed.data
+  const name = application.fundName
+  const slug = toSlug(name)
+  const shadowUsername = `fund:${slug}`
+
+  // Check for conflicts
+  const [existingFund, existingSlug, existingUser] = await Promise.all([
+    prisma.hedgeFund.findFirst({ where: { name: { equals: name, mode: 'insensitive' } } }),
+    prisma.hedgeFund.findUnique({ where: { slug } }),
+    prisma.user.findUnique({ where: { username: shadowUsername } }),
+  ])
+
+  if (existingFund) return NextResponse.json({ error: 'A fund with that name already exists.' }, { status: 409 })
+  if (existingSlug) return NextResponse.json({ error: 'A fund with that slug already exists.' }, { status: 409 })
+  if (existingUser) return NextResponse.json({ error: 'Shadow user conflict.' }, { status: 409 })
+
+  const fund = await prisma.$transaction(async (tx) => {
+    const shadowUser = await tx.user.create({
+      data: {
+        username: shadowUsername,
+        displayUsername: name,
+        passwordHash: await bcrypt.hash(crypto.randomUUID(), 10),
+        balance: startingBalance,
+        isFund: true,
+      },
+    })
+
+    const newFund = await tx.hedgeFund.create({
+      data: { name, slug, userId: shadowUser.id, sharesOutstanding: 0 },
+      include: {
+        user: { select: { balance: true } },
+        managers: { include: { user: { select: { id: true, username: true, displayUsername: true } } } },
+      },
+    })
+
+    await tx.fundManager.create({
+      data: { fundId: newFund.id, userId: application.userId },
+    })
+
+    await tx.fundApplication.delete({ where: { id: application.id } })
+
+    return { ...newFund, managers: [{ id: 'new', userId: application.userId, user: application.user }] }
+  })
+
+  return NextResponse.json(fund, { status: 201 })
+}

src/app/api/admin/funds/[fundId]/route.ts

@@ -0,0 +1,133 @@
+import { NextRequest, NextResponse } from 'next/server'
+import { getServerSession } from 'next-auth'
+import { authOptions } from '@/lib/auth'
+import { prisma } from '@/lib/prisma'
+import { z } from 'zod'
+import { calcFundNav, round2 } from '@/lib/pricing'
+
+const patchSchema = z.object({
+  addManagerUsername: z.string().optional(),
+  removeManagerUserId: z.string().optional(),
+  balance: z.number().min(0).optional(),
+})
+
+/**
+ * PATCH /api/admin/funds/[fundId]
+ * Add/remove manager, or adjust fund balance.
+ */
+export async function PATCH(
+  req: NextRequest,
+  { params }: { params: { fundId: string } }
+) {
+  const session = await getServerSession(authOptions)
+  if (!session?.user?.isAdmin) {
+    return NextResponse.json({ error: 'Forbidden' }, { status: 403 })
+  }
+
+  const fund = await prisma.hedgeFund.findUnique({
+    where: { id: params.fundId },
+    include: { user: true },
+  })
+  if (!fund) return NextResponse.json({ error: 'Fund not found.' }, { status: 404 })
+
+  const body = await req.json().catch(() => null)
+  const parsed = patchSchema.safeParse(body)
+  if (!parsed.success) return NextResponse.json({ error: 'Invalid request.' }, { status: 400 })
+
+  const { addManagerUsername, removeManagerUserId, balance } = parsed.data
+
+  if (addManagerUsername) {
+    const user = await prisma.user.findUnique({
+      where: { username: addManagerUsername.toLowerCase() },
+      select: { id: true, isFund: true },
+    })
+    if (!user) return NextResponse.json({ error: 'User not found.' }, { status: 404 })
+    if (user.isFund) return NextResponse.json({ error: 'Cannot add a fund as a manager.' }, { status: 400 })
+
+    await prisma.fundManager.upsert({
+      where: { fundId_userId: { fundId: fund.id, userId: user.id } },
+      create: { fundId: fund.id, userId: user.id },
+      update: {},
+    })
+  }
+
+  if (removeManagerUserId) {
+    await prisma.fundManager.deleteMany({
+      where: { fundId: fund.id, userId: removeManagerUserId },
+    })
+  }
+
+  if (typeof balance === 'number') {
+    await prisma.user.update({ where: { id: fund.userId }, data: { balance: round2(balance) } })
+  }
+
+  const updated = await prisma.hedgeFund.findUnique({
+    where: { id: fund.id },
+    include: {
+      user: { select: { balance: true } },
+      managers: {
+        include: { user: { select: { id: true, username: true, displayUsername: true } } },
+        orderBy: { addedAt: 'asc' },
+      },
+    },
+  })
+
+  return NextResponse.json(updated)
+}
+
+/**
+ * DELETE /api/admin/funds/[fundId]
+ * Deletes the fund and its shadow user (cascades positions/trades).
+ */
+export async function DELETE(
+  req: NextRequest,
+  { params }: { params: { fundId: string } }
+) {
+  const session = await getServerSession(authOptions)
+  if (!session?.user?.isAdmin) {
+    return NextResponse.json({ error: 'Forbidden' }, { status: 403 })
+  }
+
+  const fund = await prisma.hedgeFund.findUnique({
+    where: { id: params.fundId },
+    select: {
+      id: true,
+      userId: true,
+      sharesOutstanding: true,
+      investments: { select: { userId: true, shares: true } },
+      user: {
+        select: {
+          balance: true,
+          positions: {
+            where: { shares: { gt: 0 } },
+            select: { shares: true, avgBuyPrice: true, positionType: true, hashtag: { select: { currentPrice: true } } },
+          },
+        },
+      },
+    },
+  })
+  if (!fund) return NextResponse.json({ error: 'Fund not found.' }, { status: 404 })
+
+  // Compute mark-to-market NAV so investors are paid their fair share
+  const portfolioValue = fund.user.positions.reduce((sum, p) => {
+    const val = p.positionType === 'LONG'
+      ? p.shares * p.hashtag.currentPrice
+      : (2 * p.avgBuyPrice - p.hashtag.currentPrice) * p.shares
+    return sum + val
+  }, 0)
+  const nav = calcFundNav(fund.user.balance + portfolioValue, fund.sharesOutstanding)
+
+  // Pay out each investor at current NAV before wiping records
+  for (const inv of fund.investments) {
+    const payout = Math.max(0, round2(inv.shares * nav))
+    if (payout > 0) {
+      await prisma.user.update({ where: { id: inv.userId }, data: { balance: { increment: payout } } })
+    }
+  }
+
+  // Delete fund first (FK constraint), then shadow user (cascades positions/trades)
+  await prisma.hedgeFund.delete({ where: { id: fund.id } })
+  await prisma.user.delete({ where: { id: fund.userId } })
+
+  return NextResponse.json({ ok: true })
+}

src/app/api/admin/funds/route.ts

@@ -0,0 +1,100 @@
+import { NextRequest, NextResponse } from 'next/server'
+import { getServerSession } from 'next-auth'
+import { authOptions } from '@/lib/auth'
+import { prisma } from '@/lib/prisma'
+import { z } from 'zod'
+import bcrypt from 'bcryptjs'
+
+const createSchema = z.object({
+  name: z.string().min(1).max(60),
+  initialBalance: z.number().min(0).default(10_000),
+})
+
+function toSlug(name: string) {
+  return name.toLowerCase().replace(/[^a-z0-9]+/g, '-').replace(/^-|-$/g, '')
+}
+
+/**
+ * POST /api/admin/funds
+ * Body: { name: string, initialBalance?: number }
+ * Creates a HedgeFund with a shadow User account.
+ */
+export async function POST(req: NextRequest) {
+  const session = await getServerSession(authOptions)
+  if (!session?.user?.isAdmin) {
+    return NextResponse.json({ error: 'Forbidden' }, { status: 403 })
+  }
+
+  const body = await req.json().catch(() => null)
+  const parsed = createSchema.safeParse(body)
+  if (!parsed.success) {
+    return NextResponse.json({ error: 'Invalid request.' }, { status: 400 })
+  }
+
+  const { name, initialBalance } = parsed.data
+  const slug = toSlug(name)
+
+  if (!slug) {
+    return NextResponse.json({ error: 'Fund name produces an empty slug.' }, { status: 400 })
+  }
+
+  // Check for existing fund
+  const existing = await prisma.hedgeFund.findFirst({
+    where: { OR: [{ name }, { slug }] },
+  })
+  if (existing) {
+    return NextResponse.json({ error: 'A fund with that name already exists.' }, { status: 409 })
+  }
+
+  // Shadow username must also be unique
+  const shadowUsername = `fund:${slug}`
+  const existingUser = await prisma.user.findUnique({ where: { username: shadowUsername } })
+  if (existingUser) {
+    return NextResponse.json({ error: 'Username conflict — try a different name.' }, { status: 409 })
+  }
+
+  // Create shadow user + fund in a transaction
+  const fund = await prisma.$transaction(async (tx) => {
+    const shadowUser = await tx.user.create({
+      data: {
+        username: shadowUsername,
+        displayUsername: name,
+        passwordHash: await bcrypt.hash(crypto.randomUUID(), 10), // random, non-loginable
+        balance: initialBalance,
+        researchPoints: 0,
+        isFund: true,
+      },
+    })
+
+    return tx.hedgeFund.create({
+      data: { name, slug, userId: shadowUser.id, sharesOutstanding: initialBalance },
+      include: { user: { select: { balance: true } }, managers: true },
+    })
+  })
+
+  return NextResponse.json(fund, { status: 201 })
+}
+
+/**
+ * GET /api/admin/funds
+ * Returns all funds with their managers.
+ */
+export async function GET(req: NextRequest) {
+  const session = await getServerSession(authOptions)
+  if (!session?.user?.isAdmin) {
+    return NextResponse.json({ error: 'Forbidden' }, { status: 403 })
+  }
+
+  const funds = await prisma.hedgeFund.findMany({
+    orderBy: { createdAt: 'asc' },
+    include: {
+      user: { select: { balance: true } },
+      managers: {
+        include: { user: { select: { id: true, username: true, displayUsername: true } } },
+        orderBy: { addedAt: 'asc' },
+      },
+    },
+  })
+
+  return NextResponse.json(funds)
+}

src/app/api/admin/queues/[name]/route.ts

@@ -0,0 +1,55 @@
+import { NextRequest, NextResponse } from 'next/server'
+import { getServerSession } from 'next-auth'
+import { authOptions } from '@/lib/auth'
+import { priceUpdateQueue, maintenanceQueue, schedulerQueue, fundNavSnapshotQueue } from '@/lib/queue'
+import { Queue } from 'bullmq'
+
+const QUEUES: Record<string, Queue> = {
+  'hashex-price-updates': priceUpdateQueue,
+  'hashex-maintenance': maintenanceQueue,
+  'hashex-scheduler': schedulerQueue,
+  'hashex-fund-nav-snapshot': fundNavSnapshotQueue,
+}
+
+// Job name to add when manually triggering each queue
+const TRIGGER_JOB: Record<string, string> = {
+  'hashex-scheduler': 'trigger-sweep',
+  'hashex-maintenance': 'daily-maintenance',
+  'hashex-fund-nav-snapshot': 'fund-nav-snapshot',
+}
+
+export async function POST(
+  req: NextRequest,
+  { params }: { params: { name: string } }
+) {
+  const session = await getServerSession(authOptions)
+  if (!session?.user?.isAdmin) {
+    return NextResponse.json({ error: 'Forbidden' }, { status: 403 })
+  }
+
+  const queue = QUEUES[params.name]
+  if (!queue) {
+    return NextResponse.json({ error: 'Queue not found' }, { status: 404 })
+  }
+
+  const { action } = await req.json() as { action: string }
+
+  if (action === 'retry-failed') {
+    await queue.retryJobs({ count: 100, state: 'failed' })
+    return NextResponse.json({ ok: true })
+  }
+
+  if (action === 'clean-failed') {
+    await queue.clean(0, 100, 'failed')
+    return NextResponse.json({ ok: true })
+  }
+
+  if (action === 'trigger') {
+    const jobName = TRIGGER_JOB[params.name]
+    if (!jobName) return NextResponse.json({ error: 'Queue does not support manual trigger' }, { status: 400 })
+    await queue.add(jobName, {}, { jobId: `manual-${Date.now()}` })
+    return NextResponse.json({ ok: true })
+  }
+
+  return NextResponse.json({ error: 'Unknown action' }, { status: 400 })
+}

src/app/api/admin/users/[userId]/reset/route.ts

@@ -0,0 +1,159 @@
+import { NextRequest, NextResponse } from 'next/server'
+import { getServerSession } from 'next-auth'
+import { authOptions } from '@/lib/auth'
+import { prisma } from '@/lib/prisma'
+import { calcFundNav, round2 } from '@/lib/pricing'
+
+const STARTING_BALANCE = 2000
+
+/**
+ * POST /api/admin/users/[userId]/reset
+ * Body: { keepHistory?: boolean }
+ *
+ * Admin-only. Resets a user's account. See /api/user/me/reset for full docs.
+ */
+export async function POST(
+  req: NextRequest,
+  { params }: { params: { userId: string } },
+) {
+  const session = await getServerSession(authOptions)
+  if (!session?.user.isAdmin) {
+    return NextResponse.json({ error: 'Forbidden' }, { status: 403 })
+  }
+
+  const body = await req.json().catch(() => ({}))
+  const keepHistory = body.keepHistory === true
+
+  const user = await prisma.user.findUnique({
+    where: { id: params.userId },
+    select: {
+      balance: true,
+      isFund: true,
+      fundInvestments: {
+        where: { shares: { gt: 0 } },
+        select: {
+          fundId: true,
+          shares: true,
+          fund: {
+            select: {
+              userId: true,
+              sharesOutstanding: true,
+              user: {
+                select: {
+                  balance: true,
+                  positions: {
+                    where: { shares: { gt: 0 } },
+                    select: {
+                      shares: true,
+                      avgBuyPrice: true,
+                      positionType: true,
+                      hashtag: { select: { currentPrice: true } },
+                    },
+                  },
+                },
+              },
+            },
+          },
+        },
+      },
+      positions: {
+        where: { shares: { gt: 0 } },
+        select: {
+          shares: true,
+          avgBuyPrice: true,
+          positionType: true,
+          hashtag: { select: { currentPrice: true } },
+        },
+      },
+    },
+  })
+  if (!user) return NextResponse.json({ error: 'User not found.' }, { status: 404 })
+  if (user.isFund) {
+    return NextResponse.json({ error: 'Fund accounts cannot be reset this way.' }, { status: 400 })
+  }
+
+  const portfolioValue = user.positions.reduce((sum, p) => {
+    const val =
+      p.positionType === 'LONG'
+        ? p.shares * p.hashtag.currentPrice
+        : (2 * p.avgBuyPrice - p.hashtag.currentPrice) * p.shares
+    return sum + val
+  }, 0)
+  const fundInvestmentValue = user.fundInvestments.reduce((sum, inv) => {
+    const fundPortfolioValue = inv.fund.user.positions.reduce((psum, p) => {
+      const val =
+        p.positionType === 'LONG'
+          ? p.shares * p.hashtag.currentPrice
+          : (2 * p.avgBuyPrice - p.hashtag.currentPrice) * p.shares
+      return psum + val
+    }, 0)
+    const fundTotalValue = inv.fund.user.balance + fundPortfolioValue
+    const nav = calcFundNav(fundTotalValue, inv.fund.sharesOutstanding)
+    return sum + Math.max(0, inv.shares * nav)
+  }, 0)
+  const totalValue = user.balance + portfolioValue + fundInvestmentValue
+
+  // Forfeit all fund investments — decrement sharesOutstanding and withdraw cash from fund
+  const fundUpdates = user.fundInvestments
+    .filter((inv) => inv.shares > 0)
+    .flatMap((inv) => {
+      const fundPortfolioValue = inv.fund.user.positions.reduce((psum, p) => {
+        const val =
+          p.positionType === 'LONG'
+            ? p.shares * p.hashtag.currentPrice
+            : (2 * p.avgBuyPrice - p.hashtag.currentPrice) * p.shares
+        return psum + val
+      }, 0)
+      const fundTotalValue = inv.fund.user.balance + fundPortfolioValue
+      const nav = calcFundNav(fundTotalValue, inv.fund.sharesOutstanding)
+      const payout = Math.max(0, round2(inv.shares * nav))
+      return [
+        prisma.hedgeFund.update({
+          where: { id: inv.fundId },
+          data: { sharesOutstanding: { decrement: inv.shares } },
+        }),
+        prisma.user.update({
+          where: { id: inv.fund.userId },
+          data: { balance: { decrement: payout } },
+        }),
+      ]
+    })
+
+  const tradeOps = keepHistory
+    ? [
+        totalValue >= STARTING_BALANCE
+          ? prisma.trade.create({
+              data: { userId: params.userId, type: 'DONATION', shares: 0, price: 0, total: totalValue, profit: -totalValue },
+            })
+          : prisma.trade.create({
+              data: {
+                userId: params.userId,
+                type: 'BANKRUPTCY',
+                shares: 0,
+                price: 0,
+                total: STARTING_BALANCE - totalValue,
+                profit: STARTING_BALANCE - totalValue,
+              },
+            }),
+        prisma.trade.create({
+          data: { userId: params.userId, type: 'ACCOUNT_OPEN', shares: 0, price: 0, total: STARTING_BALANCE, profit: STARTING_BALANCE, createdAt: new Date(Date.now() + 1000) },
+        }),
+      ]
+    : [
+        prisma.trade.deleteMany({ where: { userId: params.userId } }),
+        prisma.trade.create({
+          data: { userId: params.userId, type: 'ACCOUNT_OPEN', shares: 0, price: 0, total: STARTING_BALANCE, profit: STARTING_BALANCE },
+        }),
+      ]
+
+  await prisma.$transaction([
+    ...fundUpdates,
+    prisma.fundInvestment.deleteMany({ where: { userId: params.userId } }),
+    prisma.position.deleteMany({ where: { userId: params.userId } }),
+    prisma.userPortfolioHistory.deleteMany({ where: { userId: params.userId } }),
+    prisma.user.update({ where: { id: params.userId }, data: { balance: STARTING_BALANCE } }),
+    ...tradeOps,
+  ])
+
+  return NextResponse.json({ ok: true })
+}

src/app/api/admin/users/[userId]/route.ts

@@ -3,11 +3,14 @@ import { getServerSession } from 'next-auth'
 import { authOptions } from '@/lib/auth'
 import { prisma } from '@/lib/prisma'
 import { z } from 'zod'
+import { calcFundNav, round2 } from '@/lib/pricing'
 
 const schema = z.object({
   balance: z.number().min(0).optional(),
   researchPoints: z.number().int().min(0).optional(),
   isAdmin: z.boolean().optional(),
+  isHidden: z.boolean().optional(),
+  resetLotteryAt: z.boolean().optional(),
 })
 
 export async function PATCH(req: NextRequest, { params }: { params: { userId: string } }) {
@@ -22,11 +25,85 @@ export async function PATCH(req: NextRequest, { params }: { params: { userId: st
     return NextResponse.json({ error: 'Invalid request.' }, { status: 400 })
   }
 
+  const { resetLotteryAt, ...rest } = parsed.data
+
   const updated = await prisma.user.update({
     where: { id: params.userId },
-    data: parsed.data,
-    select: { id: true, username: true, balance: true, researchPoints: true, isAdmin: true },
+    data: {
+      ...rest,
+      ...(resetLotteryAt ? { lastLotteryAt: null } : {}),
+    },
+    select: { id: true, username: true, balance: true, researchPoints: true, isAdmin: true, isHidden: true },
   })
 
   return NextResponse.json(updated)
 }
+
+/**
+ * DELETE /api/admin/users/[userId]
+ * Permanently deletes a user account.
+ * Fund investments are reconciled (sharesOutstanding decremented) before cascade deletion.
+ */
+export async function DELETE(
+  _req: NextRequest,
+  { params }: { params: { userId: string } }
+) {
+  const session = await getServerSession(authOptions)
+  if (!session?.user.isAdmin) {
+    return NextResponse.json({ error: 'Forbidden' }, { status: 403 })
+  }
+
+  const user = await prisma.user.findUnique({
+    where: { id: params.userId },
+    select: {
+      id: true,
+      isFund: true,
+      fundInvestments: { select: { fundId: true, shares: true } },
+    },
+  })
+  if (!user) return NextResponse.json({ error: 'User not found.' }, { status: 404 })
+  if (user.isFund) {
+    return NextResponse.json(
+      { error: 'Use the fund deletion endpoint to remove fund accounts.' },
+      { status: 400 },
+    )
+  }
+
+  // Redeem each fund investment at current NAV — deduct payout from fund cash
+  for (const inv of user.fundInvestments) {
+    const fund = await prisma.hedgeFund.findUnique({
+      where: { id: inv.fundId },
+      select: {
+        id: true,
+        userId: true,
+        sharesOutstanding: true,
+        user: {
+          select: {
+            balance: true,
+            positions: {
+              where: { shares: { gt: 0 } },
+              select: { shares: true, avgBuyPrice: true, positionType: true, hashtag: { select: { currentPrice: true } } },
+            },
+          },
+        },
+      },
+    })
+    if (!fund) continue
+    const portfolioValue = fund.user.positions.reduce((sum, p) => {
+      const val = p.positionType === 'LONG'
+        ? p.shares * p.hashtag.currentPrice
+        : (2 * p.avgBuyPrice - p.hashtag.currentPrice) * p.shares
+      return sum + val
+    }, 0)
+    const nav = calcFundNav(fund.user.balance + portfolioValue, fund.sharesOutstanding)
+    const payout = round2(Math.max(0, inv.shares * nav))
+    await prisma.$transaction([
+      prisma.user.update({ where: { id: fund.userId }, data: { balance: { decrement: round2(Math.max(0, payout)) } } }),
+      prisma.hedgeFund.update({ where: { id: fund.id }, data: { sharesOutstanding: { decrement: inv.shares } } }),
+    ])
+  }
+
+  await prisma.user.delete({ where: { id: params.userId } })
+
+  return NextResponse.json({ ok: true })
+}

src/app/api/admin/users/route.ts

@@ -0,0 +1,33 @@
+import { NextRequest, NextResponse } from 'next/server'
+import { getServerSession } from 'next-auth'
+import { authOptions } from '@/lib/auth'
+import { prisma } from '@/lib/prisma'
+
+/**
+ * GET /api/admin/users?q=<search>&limit=<n>
+ * Returns users matching the query (excludes fund shadow accounts).
+ */
+export async function GET(req: NextRequest) {
+  const session = await getServerSession(authOptions)
+  if (!session?.user?.isAdmin) {
+    return NextResponse.json({ error: 'Forbidden' }, { status: 403 })
+  }
+
+  const { searchParams } = req.nextUrl
+  const q = (searchParams.get('q') ?? '').trim().toLowerCase()
+  const limit = Math.min(10, Math.max(1, parseInt(searchParams.get('limit') ?? '8', 10)))
+
+  if (!q) return NextResponse.json([])
+
+  const users = await prisma.user.findMany({
+    where: {
+      isFund: false,
+      username: { contains: q },
+    },
+    select: { id: true, username: true, displayUsername: true },
+    orderBy: { username: 'asc' },
+    take: limit,
+  })
+
+  return NextResponse.json(users)
+}

src/app/api/auth/register/route.ts

@@ -36,9 +36,20 @@ export async function POST(req: NextRequest) {
 
   const passwordHash = await bcrypt.hash(password, 12)
 
-  await prisma.user.create({
+  const user = await prisma.user.create({
     data: { username, displayUsername, passwordHash },
   })
 
+  await prisma.trade.create({
+    data: {
+      userId: user.id,
+      type: 'ACCOUNT_OPEN',
+      shares: 0,
+      price: 0,
+      total: 2000,
+      profit: 2000,
+    },
+  })
+
   return NextResponse.json({ ok: true }, { status: 201 })
 }

src/app/api/fund-applications/route.ts

@@ -0,0 +1,64 @@
+import { NextRequest, NextResponse } from 'next/server'
+import { getServerSession } from 'next-auth'
+import { authOptions } from '@/lib/auth'
+import { prisma } from '@/lib/prisma'
+import { z } from 'zod'
+
+const submitSchema = z.object({
+  fundName: z.string().min(1).max(60),
+  reason: z.string().min(10).max(1000),
+})
+
+/**
+ * GET /api/fund-applications
+ * Returns the current user's pending application, or null.
+ */
+export async function GET() {
+  const session = await getServerSession(authOptions)
+  if (!session) return NextResponse.json({ error: 'Unauthorized' }, { status: 401 })
+
+  const application = await prisma.fundApplication.findUnique({
+    where: { userId: session.user.id },
+  })
+
+  return NextResponse.json(application)
+}
+
+/**
+ * POST /api/fund-applications
+ * Submit a fund application. One per user at a time.
+ */
+export async function POST(req: NextRequest) {
+  const session = await getServerSession(authOptions)
+  if (!session) return NextResponse.json({ error: 'Unauthorized' }, { status: 401 })
+
+  const body = await req.json()
+  const parsed = submitSchema.safeParse(body)
+  if (!parsed.success) {
+    return NextResponse.json({ error: parsed.error.errors[0]?.message ?? 'Invalid input' }, { status: 400 })
+  }
+
+  const { fundName, reason } = parsed.data
+
+  try {
+    const application = await prisma.fundApplication.create({
+      data: { userId: session.user.id, fundName: fundName.trim(), reason: reason.trim() },
+    })
+    return NextResponse.json(application, { status: 201 })
+  } catch {
+    // Unique constraint violation — already has a pending application
+    return NextResponse.json({ error: 'You already have a pending application.' }, { status: 409 })
+  }
+}
+
+/**
+ * DELETE /api/fund-applications
+ * Withdraw the current user's pending application.
+ */
+export async function DELETE() {
+  const session = await getServerSession(authOptions)
+  if (!session) return NextResponse.json({ error: 'Unauthorized' }, { status: 401 })
+
+  await prisma.fundApplication.deleteMany({ where: { userId: session.user.id } })
+  return NextResponse.json({ ok: true })
+}

src/app/api/funds/[slug]/invest/route.ts

@@ -0,0 +1,93 @@
+import { NextRequest, NextResponse } from 'next/server'
+import { getServerSession } from 'next-auth'
+import { authOptions } from '@/lib/auth'
+import { prisma } from '@/lib/prisma'
+import { calcFundNav, round2 } from '@/lib/pricing'
+
+export async function POST(req: NextRequest, { params }: { params: { slug: string } }) {
+  const session = await getServerSession(authOptions)
+  if (!session) return NextResponse.json({ error: 'Unauthorized' }, { status: 401 })
+
+  const slug = decodeURIComponent(params.slug).toLowerCase()
+  const body = await req.json()
+  const amount = round2(Number(body.amount))
+
+  if (!amount || amount < 1) {
+    return NextResponse.json({ error: 'Minimum investment is $1' }, { status: 400 })
+  }
+
+  const fund = await prisma.hedgeFund.findUnique({
+    where: { slug },
+    include: {
+      user: {
+        select: {
+          balance: true,
+          positions: {
+            where: { shares: { gt: 0 } },
+            select: { shares: true, avgBuyPrice: true, positionType: true, hashtag: { select: { currentPrice: true } } },
+          },
+        },
+      },
+    },
+  })
+
+  if (!fund) return NextResponse.json({ error: 'Fund not found' }, { status: 404 })
+
+  // Verify investor is not the fund's own shadow user
+  const investor = await prisma.user.findUnique({ where: { id: session.user.id }, select: { balance: true, isFund: true } })
+  if (!investor || investor.isFund) {
+    return NextResponse.json({ error: 'Invalid account' }, { status: 403 })
+  }
+  if (investor.balance < amount) {
+    return NextResponse.json({ error: 'Insufficient balance' }, { status: 400 })
+  }
+
+  const portfolioValue = fund.user.positions.reduce((sum, p) => {
+    const val = p.positionType === 'LONG'
+      ? p.shares * p.hashtag.currentPrice
+      : (2 * p.avgBuyPrice - p.hashtag.currentPrice) * p.shares
+    return sum + val
+  }, 0)
+  const totalValue = fund.user.balance + portfolioValue
+  const nav = calcFundNav(totalValue, fund.sharesOutstanding)
+  const sharesToMint = Math.round((amount / nav) * 1e6) / 1e6
+
+  // Weighted average NAV at buy for display
+  const existingInvestment = await prisma.fundInvestment.findUnique({
+    where: { fundId_userId: { fundId: fund.id, userId: session.user.id } },
+    select: { shares: true, avgNavAtBuy: true },
+  })
+
+  let newAvgNav: number
+  if (existingInvestment) {
+    const totalShares = existingInvestment.shares + sharesToMint
+    newAvgNav = (existingInvestment.avgNavAtBuy * existingInvestment.shares + nav * sharesToMint) / totalShares
+  } else {
+    newAvgNav = nav
+  }
+
+  const [updatedInvestor] = await prisma.$transaction([
+    // Deduct from investor (returns updated user with new balance)
+    prisma.user.update({ where: { id: session.user.id }, data: { balance: round2(investor.balance - amount) } }),
+    // Add to fund's cash
+    prisma.user.update({ where: { id: fund.userId }, data: { balance: round2(fund.user.balance + amount) } }),
+    // Upsert FundInvestment record
+    prisma.fundInvestment.upsert({
+      where: { fundId_userId: { fundId: fund.id, userId: session.user.id } },
+      create: { fundId: fund.id, userId: session.user.id, shares: sharesToMint, avgNavAtBuy: newAvgNav },
+      update: { shares: { increment: sharesToMint }, avgNavAtBuy: newAvgNav },
+    }),
+    // Increment fund shares outstanding
+    prisma.hedgeFund.update({ where: { id: fund.id }, data: { sharesOutstanding: { increment: sharesToMint } } }),
+    // Log trade in activity history
+    prisma.trade.create({
+      data: { userId: session.user.id, fundId: fund.id, type: 'FUND_INVEST', shares: sharesToMint, price: nav, total: amount, profit: 0 },
+    }),
+  ])
+
+  return NextResponse.json({
+    shares: sharesToMint,
+    nav,
+    newBalance: updatedInvestor.balance,
+  })
+}

src/app/api/funds/[slug]/redeem/route.ts

@@ -0,0 +1,92 @@
+import { NextRequest, NextResponse } from 'next/server'
+import { getServerSession } from 'next-auth'
+import { authOptions } from '@/lib/auth'
+import { prisma } from '@/lib/prisma'
+import { calcFundNav, round2 } from '@/lib/pricing'
+
+export async function POST(req: NextRequest, { params }: { params: { slug: string } }) {
+  const session = await getServerSession(authOptions)
+  if (!session) return NextResponse.json({ error: 'Unauthorized' }, { status: 401 })
+
+  const slug = decodeURIComponent(params.slug).toLowerCase()
+  const body = await req.json()
+  const sharesToRedeem = Number(body.shares)
+
+  if (!sharesToRedeem || sharesToRedeem <= 0) {
+    return NextResponse.json({ error: 'Invalid share amount' }, { status: 400 })
+  }
+
+  const fund = await prisma.hedgeFund.findUnique({
+    where: { slug },
+    include: {
+      user: {
+        select: {
+          balance: true,
+          positions: {
+            where: { shares: { gt: 0 } },
+            select: { shares: true, avgBuyPrice: true, positionType: true, hashtag: { select: { currentPrice: true } } },
+          },
+        },
+      },
+    },
+  })
+
+  if (!fund) return NextResponse.json({ error: 'Fund not found' }, { status: 404 })
+
+  const investment = await prisma.fundInvestment.findUnique({
+    where: { fundId_userId: { fundId: fund.id, userId: session.user.id } },
+    select: { shares: true, avgNavAtBuy: true },
+  })
+
+  if (!investment || investment.shares < sharesToRedeem) {
+    return NextResponse.json({ error: 'Insufficient fund shares' }, { status: 400 })
+  }
+
+  const investor = await prisma.user.findUnique({ where: { id: session.user.id }, select: { balance: true } })
+  if (!investor) return NextResponse.json({ error: 'User not found' }, { status: 404 })
+
+  const portfolioValue = fund.user.positions.reduce((sum, p) => {
+    const val = p.positionType === 'LONG'
+      ? p.shares * p.hashtag.currentPrice
+      : (2 * p.avgBuyPrice - p.hashtag.currentPrice) * p.shares
+    return sum + val
+  }, 0)
+  const totalValue = fund.user.balance + portfolioValue
+  const nav = calcFundNav(totalValue, fund.sharesOutstanding)
+  const payout = round2(sharesToRedeem * nav)
+
+  if (fund.user.balance < payout) {
+    return NextResponse.json({ error: 'Fund has insufficient cash to redeem. Try a smaller amount.' }, { status: 400 })
+  }
+
+  const remainingShares = Math.round((investment.shares - sharesToRedeem) * 1e6) / 1e6
+  const profit = round2(payout - sharesToRedeem * investment.avgNavAtBuy)
+
+  const [updatedInvestor] = await prisma.$transaction([
+    // Return cash to investor
+    prisma.user.update({ where: { id: session.user.id }, data: { balance: round2(investor.balance + payout) } }),
+    // Deduct from fund's cash
+    prisma.user.update({ where: { id: fund.userId }, data: { balance: round2(fund.user.balance - payout) } }),
+    // Update or delete FundInvestment
+    ...(remainingShares > 0
+      ? [prisma.fundInvestment.update({
+          where: { fundId_userId: { fundId: fund.id, userId: session.user.id } },
+          data: { shares: remainingShares },
+        })]
+      : [prisma.fundInvestment.delete({
+          where: { fundId_userId: { fundId: fund.id, userId: session.user.id } },
+        })]),
+    // Decrement fund shares outstanding
+    prisma.hedgeFund.update({ where: { id: fund.id }, data: { sharesOutstanding: { decrement: sharesToRedeem } } }),
+    // Log trade in activity history
+    prisma.trade.create({
+      data: { userId: session.user.id, fundId: fund.id, type: 'FUND_REDEEM', shares: sharesToRedeem, price: nav, total: payout, profit },
+    }),
+  ])
+
+  return NextResponse.json({
+    payout,
+    nav,
+    newBalance: updatedInvestor.balance,
+  })
+}

src/app/api/hashtags/search/route.ts

@@ -0,0 +1,20 @@
+import { prisma } from '@/lib/prisma'
+import { NextRequest, NextResponse } from 'next/server'
+
+export async function GET(req: NextRequest) {
+  const q = req.nextUrl.searchParams.get('q')?.trim().replace(/^#/, '').toLowerCase()
+  if (!q || q.length < 1) return NextResponse.json([])
+
+  const results = await prisma.hashtag.findMany({
+    where: {
+      isActive: true,
+      isBanned: false,
+      tag: { startsWith: q },
+    },
+    orderBy: { currentPrice: 'desc' },
+    take: 8,
+    select: { tag: true, displayTag: true, currentPrice: true },
+  })
+
+  return NextResponse.json(results)
+}

src/app/api/lottery/pick/route.ts

@@ -2,6 +2,7 @@ import { NextRequest, NextResponse } from 'next/server'
 import { getServerSession } from 'next-auth'
 import { authOptions } from '@/lib/auth'
 import { prisma } from '@/lib/prisma'
+import { round2 } from '@/lib/pricing'
 import { GRID_SIZE, PRIZE_MAP } from '@/lib/lottery'
 
 function buildPrizes(): number[] {
@@ -15,9 +16,9 @@ function buildPrizes(): number[] {
 
 function isSameDay(a: Date, b: Date) {
   return (
-    a.getUTCFullYear() === b.getUTCFullYear() &&
-    a.getUTCMonth() === b.getUTCMonth() &&
-    a.getUTCDate() === b.getUTCDate()
+    a.getFullYear() === b.getFullYear() &&
+    a.getMonth() === b.getMonth() &&
+    a.getDate() === b.getDate()
   )
 }
 
@@ -25,7 +26,7 @@ function isSameDay(a: Date, b: Date) {
  * POST /api/lottery/pick
  * Body: { box: number }  (0-indexed, 0–24)
  *
- * One free play per calendar day (UTC). Reveals prize at the chosen box.
+ * One free play per calendar day (Eastern Time). Reveals prize at the chosen box.
  */
 export async function POST(req: NextRequest) {
   const session = await getServerSession(authOptions)
@@ -64,13 +65,29 @@ export async function POST(req: NextRequest) {
 
   const winAmount = prizes[box]
 
-  await prisma.user.update({
-    where: { id: user.id },
-    data: {
-      balance: { increment: winAmount },
-      lastLotteryAt: now,
-    },
-  })
+  await prisma.$transaction([
+    prisma.user.update({
+      where: { id: user.id },
+      data: {
+        balance: { increment: round2(winAmount) },
+        lastLotteryAt: now,
+      },
+    }),
+    ...(winAmount > 0
+      ? [
+          prisma.trade.create({
+            data: {
+              userId: user.id,
+              type: 'LOTTERY_WIN',
+              shares: 1,
+              price: winAmount,
+              total: winAmount,
+              profit: winAmount,
+            },
+          }),
+        ]
+      : []),
+  ])
 
   return NextResponse.json({
     box,

src/app/api/og/fund/[slug]/route.tsx

@@ -0,0 +1,99 @@
+import { ImageResponse } from 'next/og'
+import { prisma } from '@/lib/prisma'
+import { calcFundNav } from '@/lib/pricing'
+
+export const runtime = 'nodejs'
+
+const W = 1200
+const H = 630
+
+export async function GET(
+  _req: Request,
+  { params }: { params: { slug: string } },
+) {
+  const slug = decodeURIComponent(params.slug).toLowerCase()
+
+  const fund = await prisma.hedgeFund.findUnique({
+    where: { slug },
+    select: {
+      name: true,
+      sharesOutstanding: true,
+      user: {
+        select: {
+          balance: true,
+          positions: {
+            where: { shares: { gt: 0 } },
+            select: {
+              positionType: true,
+              shares: true,
+              avgBuyPrice: true,
+              hashtag: { select: { currentPrice: true } },
+            },
+          },
+        },
+      },
+      managers: { select: { userId: true } },
+      _count: { select: { investments: true } },
+    },
+  })
+
+  const name = fund?.name ?? slug
+  const cash = fund?.user.balance ?? 0
+  const portfolioValue = fund?.user.positions.reduce((sum, p) => {
+    const val = p.positionType === 'LONG'
+      ? p.shares * p.hashtag.currentPrice
+      : p.avgBuyPrice * p.shares - (p.hashtag.currentPrice - p.avgBuyPrice) * p.shares
+    return sum + val
+  }, 0) ?? 0
+  const totalValue = cash + portfolioValue
+  const nav = fund ? calcFundNav(totalValue, fund.sharesOutstanding) : 1
+  const managerCount = fund?.managers.length ?? 0
+  const investorCount = fund?._count.investments ?? 0
+  const openPositions = fund?.user.positions.length ?? 0
+
+  const fmt = (n: number) => new Intl.NumberFormat('en-US', {
+    style: 'currency', currency: 'USD', notation: Math.abs(n) >= 10000 ? 'compact' : 'standard', maximumFractionDigits: 2,
+  }).format(n)
+
+  const rawUrl = process.env.NEXTAUTH_URL || 'http://localhost:3000'
+  const host = (() => { try { return new URL(rawUrl).host } catch { return rawUrl } })()
+
+  return new ImageResponse(
+    (
+      <div style={{ width: W, height: H, background: '#0f0f17', display: 'flex', flexDirection: 'column', padding: '60px', fontFamily: 'sans-serif' }}>
+        {/* Branding + badge */}
+        <div style={{ display: 'flex', alignItems: 'center', justifyContent: 'space-between', marginBottom: 24 }}>
+          <div style={{ fontSize: 26, color: '#6366f1' }}>HashEx</div>
+          <div style={{ fontSize: 20, color: '#818cf8', background: '#312e81', borderRadius: 8, padding: '6px 16px' }}>Hedge Fund</div>
+        </div>
+
+        {/* Fund name */}
+        <div style={{ fontSize: 64, fontWeight: 700, color: '#ffffff', marginBottom: 48 }}>{name}</div>
+
+        {/* Stats grid */}
+        <div style={{ display: 'flex', gap: 28, flex: 1 }}>
+          {[
+            { label: 'Total Value', value: fmt(totalValue), color: '#ffffff' },
+            { label: 'NAV / Share', value: fmt(nav), color: '#ffffff' },
+            { label: 'Cash', value: fmt(cash), color: '#94a3b8' },
+            { label: 'Positions', value: String(openPositions), color: '#94a3b8' },
+            { label: 'Managers', value: String(managerCount), color: '#94a3b8' },
+            { label: 'Investors', value: String(investorCount), color: '#94a3b8' },
+          ].map(({ label, value, color }) => (
+            <div key={label} style={{ display: 'flex', flexDirection: 'column', background: '#1a1a2e', border: '1px solid #1e2035', borderRadius: 16, padding: '24px 20px', flex: 1 }}>
+              <div style={{ fontSize: 16, color: '#475569', marginBottom: 8 }}>{label}</div>
+              <div style={{ fontSize: 28, fontWeight: 700, color }}>{value}</div>
+            </div>
+          ))}
+        </div>
+
+        {/* Footer */}
+        <div style={{ display: 'flex', justifyContent: 'space-between', color: '#475569', fontSize: 22, marginTop: 40 }}>
+          <span>{host}</span>
+          <span>Trade hashtags like stocks</span>
+        </div>
+      </div>
+    ),
+    { width: W, height: H },
+  )
+}

src/app/api/og/hashtag/[tag]/route.tsx

@@ -0,0 +1,154 @@
+import { ImageResponse } from 'next/og'
+import { prisma } from '@/lib/prisma'
+
+export const runtime = 'nodejs'
+
+const W = 1200
+const H = 630
+const CHART_X = 60
+const CHART_Y = 200
+const CHART_W = W - 120
+const CHART_H = 220
+
+function buildPolyline(prices: number[]): string {
+  if (prices.length < 2) return ''
+  const min = Math.min(...prices)
+  const max = Math.max(...prices)
+  const range = max - min || 1
+  return prices
+    .map((p, i) => {
+      const x = CHART_X + (i / (prices.length - 1)) * CHART_W
+      const y = CHART_Y + CHART_H - ((p - min) / range) * CHART_H
+      return `${x},${y}`
+    })
+    .join(' ')
+}
+
+export async function GET(
+  _req: Request,
+  { params }: { params: { tag: string } },
+) {
+  const tag = decodeURIComponent(params.tag).toLowerCase().replace(/^#+/, '')
+
+  const hashtag = await prisma.hashtag.findUnique({
+    where: { tag },
+    select: {
+      displayTag: true,
+      currentPrice: true,
+      isActive: true,
+      priceHistory: {
+        orderBy: { recordedAt: 'desc' },
+        take: 48,
+        select: { price: true },
+      },
+    },
+  })
+
+  const displayTag = hashtag?.displayTag ?? tag
+  const price = hashtag?.currentPrice ?? 0.25
+  const prices = (hashtag?.priceHistory ?? []).map((p) => p.price).reverse()
+  const prevPrice = prices.length >= 2 ? prices[0] : null
+  const changePct = prevPrice && prevPrice > 0
+    ? ((price - prevPrice) / prevPrice) * 100
+    : null
+  const trending = changePct === null ? null : changePct >= 0
+  const lineColor = trending === null ? '#6366f1' : trending ? '#34d399' : '#f87171'
+  const changeStr = changePct === null
+    ? ''
+    : `${changePct >= 0 ? '+' : ''}${changePct.toFixed(2)}%`
+
+  const priceStr = new Intl.NumberFormat('en-US', {
+    style: 'currency',
+    currency: 'USD',
+    minimumFractionDigits: 2,
+    maximumFractionDigits: 2,
+  }).format(price)
+
+  const polyline = buildPolyline(prices)
+  const rawUrl = process.env.NEXTAUTH_URL || 'http://localhost:3000'
+  const host = (() => { try { return new URL(rawUrl).host } catch { return rawUrl } })()
+
+  return new ImageResponse(
+    (
+      <div
+        style={{
+          width: W,
+          height: H,
+          background: '#0f0f17',
+          display: 'flex',
+          flexDirection: 'column',
+          padding: '60px',
+          fontFamily: 'sans-serif',
+          position: 'relative',
+        }}
+      >
+        {/* Header row */}
+        <div style={{ display: 'flex', alignItems: 'flex-end', justifyContent: 'space-between' }}>
+          <div style={{ display: 'flex', flexDirection: 'column' }}>
+            <div style={{ fontSize: 28, color: '#6366f1', marginBottom: 8 }}>HashEx</div>
+            <div style={{ fontSize: 72, fontWeight: 700, color: '#ffffff' }}>
+              {'#' + displayTag}
+            </div>
+          </div>
+          <div style={{ display: 'flex', flexDirection: 'column', alignItems: 'flex-end' }}>
+            <div style={{ fontSize: 64, fontWeight: 700, color: '#ffffff' }}>{priceStr}</div>
+            {changeStr && (
+              <div style={{ fontSize: 36, fontWeight: 600, color: lineColor, marginTop: 4 }}>
+                {changeStr}
+              </div>
+            )}
+            {!hashtag?.isActive && (
+              <div style={{ fontSize: 22, color: '#f97316', marginTop: 8 }}>inactive</div>
+            )}
+          </div>
+        </div>
+
+        {/* Sparkline */}
+        {prices.length >= 2 && (
+          <svg
+            width={W}
+            height={CHART_H + 40}
+            style={{ position: 'absolute', left: 0, top: 280 }}
+          >
+            {/* Subtle grid line at mid-price */}
+            <line
+              x1={CHART_X}
+              y1={CHART_Y + CHART_H / 2}
+              x2={CHART_X + CHART_W}
+              y2={CHART_Y + CHART_H / 2}
+              stroke="#1e1e2e"
+              strokeWidth={1}
+            />
+            <polyline
+              points={polyline}
+              fill="none"
+              stroke={lineColor}
+              strokeWidth={4}
+              strokeLinecap="round"
+              strokeLinejoin="round"
+              opacity={0.9}
+            />
+          </svg>
+        )}
+
+        {/* Footer */}
+        <div
+          style={{
+            position: 'absolute',
+            bottom: 40,
+            left: 60,
+            right: 60,
+            display: 'flex',
+            justifyContent: 'space-between',
+            color: '#475569',
+            fontSize: 22,
+          }}
+        >
+          <span>{host}</span>
+          <span>Trade hashtags like stocks</span>
+        </div>
+      </div>
+    ),
+    { width: W, height: H },
+  )
+}

src/app/api/og/leaderboard/route.tsx

@@ -0,0 +1,71 @@
+import { ImageResponse } from 'next/og'
+import { prisma } from '@/lib/prisma'
+
+export const runtime = 'nodejs'
+export const dynamic = 'force-dynamic'
+
+const W = 1200
+const H = 630
+
+export async function GET() {
+  const users = await prisma.user.findMany({
+    where: { isFund: false, isHidden: false },
+    select: {
+      displayUsername: true,
+      username: true,
+      balance: true,
+      positions: {
+        where: { shares: { gt: 0 } },
+        select: { shares: true, hashtag: { select: { currentPrice: true } } },
+      },
+    },
+  })
+
+  const ranked = users
+    .map((u) => ({
+      name: u.displayUsername ?? u.username,
+      netWorth: u.balance + u.positions.reduce((s, p) => s + p.shares * p.hashtag.currentPrice, 0),
+    }))
+    .sort((a, b) => b.netWorth - a.netWorth)
+    .slice(0, 5)
+
+  const fmt = (n: number) => new Intl.NumberFormat('en-US', {
+    style: 'currency', currency: 'USD', notation: n >= 10000 ? 'compact' : 'standard', maximumFractionDigits: 2,
+  }).format(n)
+
+  const medals = ['🥇', '🥈', '🥉', '4.', '5.']
+  const rawUrl = process.env.NEXTAUTH_URL || 'http://localhost:3000'
+  const host = (() => { try { return new URL(rawUrl).host } catch { return rawUrl } })()
+
+  return new ImageResponse(
+    (
+      <div style={{ width: W, height: H, background: '#0f0f17', display: 'flex', flexDirection: 'column', padding: '60px', fontFamily: 'sans-serif' }}>
+        {/* Header */}
+        <div style={{ display: 'flex', alignItems: 'center', justifyContent: 'space-between', marginBottom: 40 }}>
+          <div style={{ fontSize: 26, color: '#6366f1' }}>HashEx</div>
+          <div style={{ fontSize: 42, fontWeight: 700, color: '#ffffff' }}>🏆 Leaderboard</div>
+        </div>
+
+        {/* Top 5 rows */}
+        <div style={{ display: 'flex', flexDirection: 'column', gap: 16, flex: 1 }}>
+          {ranked.map((u, i) => (
+            <div key={u.name} style={{ display: 'flex', alignItems: 'center', justifyContent: 'space-between', background: i === 0 ? '#1c1a08' : '#1a1a2e', border: `1px solid ${i === 0 ? '#854d0e' : '#1e2035'}`, borderRadius: 14, padding: '18px 28px' }}>
+              <div style={{ display: 'flex', alignItems: 'center', gap: 20 }}>
+                <span style={{ fontSize: 28, width: 40 }}>{medals[i]}</span>
+                <span style={{ fontSize: 30, fontWeight: 600, color: i === 0 ? '#fde68a' : '#e2e8f0' }}>{u.name}</span>
+              </div>
+              <span style={{ fontSize: 30, fontWeight: 700, color: i === 0 ? '#fde68a' : '#ffffff' }}>{fmt(u.netWorth)}</span>
+            </div>
+          ))}
+        </div>
+
+        {/* Footer */}
+        <div style={{ display: 'flex', justifyContent: 'space-between', color: '#475569', fontSize: 22, marginTop: 32 }}>
+          <span>{host}</span>
+          <span>Trade hashtags like stocks</span>
+        </div>
+      </div>
+    ),
+    { width: W, height: H },
+  )
+}

src/app/api/og/profile/[username]/route.tsx

@@ -0,0 +1,88 @@
+import { ImageResponse } from 'next/og'
+import { prisma } from '@/lib/prisma'
+
+export const runtime = 'nodejs'
+
+const W = 1200
+const H = 630
+
+export async function GET(
+  _req: Request,
+  { params }: { params: { username: string } },
+) {
+  const username = decodeURIComponent(params.username).toLowerCase()
+
+  const user = await prisma.user.findUnique({
+    where: { username },
+    select: {
+      displayUsername: true,
+      balance: true,
+      positions: {
+        where: { shares: { gt: 0 } },
+        select: {
+          positionType: true,
+          shares: true,
+          avgBuyPrice: true,
+          hashtag: { select: { currentPrice: true } },
+        },
+      },
+      _count: { select: { trades: true } },
+    },
+  })
+
+  const displayName = user?.displayUsername ?? username
+  const balance = user?.balance ?? 0
+  const portfolioValue = user?.positions.reduce((sum, p) => sum + p.shares * p.hashtag.currentPrice, 0) ?? 0
+  const netWorth = balance + portfolioValue
+  const unrealizedPnl = user?.positions.reduce((sum, p) => {
+    if (p.positionType === 'LONG') return sum + (p.hashtag.currentPrice - p.avgBuyPrice) * p.shares
+    return sum + (p.avgBuyPrice - p.hashtag.currentPrice) * p.shares
+  }, 0) ?? 0
+  const tradeCount = user?._count.trades ?? 0
+  const openPositions = user?.positions.length ?? 0
+
+  const fmt = (n: number) => new Intl.NumberFormat('en-US', {
+    style: 'currency', currency: 'USD', notation: Math.abs(n) >= 10000 ? 'compact' : 'standard', maximumFractionDigits: 2,
+  }).format(n)
+
+  const pnlColor = unrealizedPnl >= 0 ? '#34d399' : '#f87171'
+  const rawUrl = process.env.NEXTAUTH_URL || 'http://localhost:3000'
+  const host = (() => { try { return new URL(rawUrl).host } catch { return rawUrl } })()
+
+  return new ImageResponse(
+    (
+      <div style={{ width: W, height: H, background: '#0f0f17', display: 'flex', flexDirection: 'column', padding: '60px', fontFamily: 'sans-serif' }}>
+        {/* Branding */}
+        <div style={{ fontSize: 26, color: '#6366f1', marginBottom: 24 }}>HashEx</div>
+
+        {/* Name */}
+        <div style={{ fontSize: 68, fontWeight: 700, color: '#ffffff', marginBottom: 48 }}>
+          {'@' + displayName}
+        </div>
+
+        {/* Stats grid */}
+        <div style={{ display: 'flex', gap: 32, flex: 1 }}>
+          {[
+            { label: 'Net Worth', value: fmt(netWorth), color: '#ffffff' },
+            { label: 'Cash', value: fmt(balance), color: '#94a3b8' },
+            { label: 'Unrealized P&L', value: fmt(unrealizedPnl), color: pnlColor },
+            { label: 'Open Positions', value: String(openPositions), color: '#94a3b8' },
+            { label: 'Total Trades', value: String(tradeCount), color: '#94a3b8' },
+          ].map(({ label, value, color }) => (
+            <div key={label} style={{ display: 'flex', flexDirection: 'column', background: '#1a1a2e', border: '1px solid #1e2035', borderRadius: 16, padding: '24px 28px', flex: 1 }}>
+              <div style={{ fontSize: 18, color: '#475569', marginBottom: 8 }}>{label}</div>
+              <div style={{ fontSize: 30, fontWeight: 700, color }}>{value}</div>
+            </div>
+          ))}
+        </div>
+
+        {/* Footer */}
+        <div style={{ display: 'flex', justifyContent: 'space-between', color: '#475569', fontSize: 22, marginTop: 40 }}>
+          <span>{host}</span>
+          <span>Trade hashtags like stocks</span>
+        </div>
+      </div>
+    ),
+    { width: W, height: H },
+  )
+}

src/app/api/research/route.ts

@@ -2,7 +2,7 @@ import { NextRequest, NextResponse } from 'next/server'
 import { getServerSession } from 'next-auth'
 import { authOptions } from '@/lib/auth'
 import { prisma } from '@/lib/prisma'
-import { getPostsPerHour } from '@/lib/mastodon'
+import { getPostsData } from '@/lib/mastodon'
 import { calcPrice } from '@/lib/pricing'
 import { normalizeTag } from '@/lib/utils'
 import { priceUpdateQueue } from '@/lib/queue'
@@ -49,8 +49,11 @@ export async function POST(req: NextRequest) {
 
   // Query Mastodon
   let postsPerHour = 0
+  let hasAnyPosts = false
   try {
-    postsPerHour = await getPostsPerHour(tag)
+    const data = await getPostsData(tag)
+    postsPerHour = data.postsPerHour
+    hasAnyPosts = data.hasAnyPosts
   } catch (err) {
     console.error('[research] Mastodon fetch failed:', err)
     return NextResponse.json(
@@ -59,19 +62,21 @@ export async function POST(req: NextRequest) {
     )
   }
 
-  if (postsPerHour === 0) {
+  if (!hasAnyPosts) {
     // Deduct point for failed research
     await prisma.user.update({
       where: { id: session.user.id },
       data: { researchPoints: { decrement: 1 } },
     })
     return NextResponse.json(
-      { error: 'No recent posts found for this hashtag. Research point spent.' },
+      { error: 'No posts found for this hashtag anywhere recently. Research point spent.' },
       { status: 404 },
     )
   }
 
+  // Use the last-hour price, or $0.25 minimum if active but currently quiet
   const price = calcPrice(postsPerHour)
+  const activeUntil = new Date(Date.now() + parseInt(process.env.HASHTAG_ACTIVE_HOURS ?? '24', 10) * 60 * 60 * 1000)
 
   // Upsert the hashtag and deduct point atomically
   const [hashtag] = await prisma.$transaction([
@@ -82,6 +87,7 @@ export async function POST(req: NextRequest) {
         displayTag: raw.trim().replace(/^#+/, ''),
         currentPrice: price,
         isActive: true,
+        activeUntil,
         priceHistory: {
           create: { price, postsPerHour },
         },
@@ -90,6 +96,7 @@ export async function POST(req: NextRequest) {
         isActive: true,
         currentPrice: price,
         zeroCount: 0,
+        activeUntil,
         lastUpdated: new Date(),
         priceHistory: {
           create: { price, postsPerHour },

src/app/api/trade/route.ts

@@ -2,13 +2,20 @@ import { NextRequest, NextResponse } from 'next/server'
 import { getServerSession } from 'next-auth'
 import { authOptions } from '@/lib/auth'
 import { prisma } from '@/lib/prisma'
-import { calcTrade } from '@/lib/pricing'
+import { calcTrade, round2 } from '@/lib/pricing'
+import { formatCurrency } from '@/lib/utils'
 import { z } from 'zod'
 
+const MAX_POSITION_SHARES       = parseInt(process.env.MAX_POSITION_SHARES        ?? '100',   10)
+const MAX_POSITION_VALUE        = parseInt(process.env.MAX_POSITION_VALUE         ?? '1000',  10)
+const FUND_MAX_POSITION_SHARES  = parseInt(process.env.FUND_MAX_POSITION_SHARES   ?? '1000',  10)
+const FUND_MAX_POSITION_VALUE   = parseInt(process.env.FUND_MAX_POSITION_VALUE    ?? '10000', 10)
+
 const tradeSchema = z.object({
   hashtagId: z.string().min(1),
   type: z.enum(['BUY_LONG', 'SELL_LONG', 'BUY_SHORT', 'SELL_SHORT']),
   shares: z.number().positive().max(1_000_000),
+  fundId: z.string().optional(), // if set: trade on behalf of this fund
 })
 
 /**
@@ -24,12 +31,24 @@ export async function POST(req: NextRequest) {
     return NextResponse.json({ error: 'Invalid request.' }, { status: 400 })
   }
 
-  const { hashtagId, type, shares } = parsed.data
+  const { hashtagId, type, shares, fundId } = parsed.data
 
-  // Fetch hashtag and user together
+  // Fetch hashtag and determine which user account to trade as
+  let actorId = session.user.id
+  if (fundId) {
+    const membership = await prisma.fundManager.findUnique({
+      where: { fundId_userId: { fundId, userId: session.user.id } },
+      include: { fund: { select: { userId: true } } },
+    })
+    if (!membership) {
+      return NextResponse.json({ error: 'You are not a manager of this fund.' }, { status: 403 })
+    }
+    actorId = membership.fund.userId
+  }
+  // Fetch hashtag and actor account together
   const [hashtag, user] = await Promise.all([
     prisma.hashtag.findUnique({ where: { id: hashtagId, isActive: true } }),
-    prisma.user.findUnique({ where: { id: session.user.id } }),
+    prisma.user.findUnique({ where: { id: actorId } }),
   ])
 
   if (!hashtag) return NextResponse.json({ error: 'Hashtag not found or inactive.' }, { status: 404 })
@@ -50,6 +69,25 @@ export async function POST(req: NextRequest) {
     return NextResponse.json({ error: 'Insufficient balance.' }, { status: 400 })
   }
 
+  if (type === 'BUY_LONG' || type === 'BUY_SHORT') {
+    const maxShares = fundId ? FUND_MAX_POSITION_SHARES : MAX_POSITION_SHARES
+    const maxValue  = fundId ? FUND_MAX_POSITION_VALUE  : MAX_POSITION_VALUE
+    const newTotalShares = (existingPosition?.shares ?? 0) + shares
+    const newTotalValue  = newTotalShares * hashtag.currentPrice
+    if (newTotalShares > maxShares) {
+      return NextResponse.json(
+        { error: `Position limit: max ${maxShares.toLocaleString()} shares per hashtag.` },
+        { status: 400 },
+      )
+    }
+    if (newTotalValue > maxValue) {
+      return NextResponse.json(
+        { error: `Position limit: max ${formatCurrency(maxValue)} position value per hashtag.` },
+        { status: 400 },
+      )
+    }
+  }
+
   if (type === 'SELL_LONG') {
     if (!existingPosition || existingPosition.shares < shares) {
       return NextResponse.json({ error: 'Insufficient shares to sell.' }, { status: 400 })
@@ -67,7 +105,7 @@ export async function POST(req: NextRequest) {
     // Update user balance
     await tx.user.update({
       where: { id: user.id },
-      data: { balance: { increment: balanceDelta } },
+      data: { balance: { increment: round2(balanceDelta) } },
     })
 
     // Update / create position
@@ -116,5 +154,20 @@ export async function POST(req: NextRequest) {
     })
   })
 
+  // When a sell closes the last position on this hashtag globally, extend the active window
+  if (type === 'SELL_LONG' || type === 'SELL_SHORT') {
+    const newShares = (existingPosition?.shares ?? 0) - shares
+    if (newShares <= 0) {
+      const remaining = await prisma.position.count({ where: { hashtagId, shares: { gt: 0 } } })
+      if (remaining === 0) {
+        const hours = parseInt(process.env.HASHTAG_ACTIVE_HOURS ?? '24', 10)
+        await prisma.hashtag.update({
+          where: { id: hashtagId },
+          data: { activeUntil: new Date(Date.now() + hours * 60 * 60 * 1000) },
+        })
+      }
+    }
+  }
+
   return NextResponse.json({ ok: true })
 }

src/app/api/user/me/reset/route.ts

@@ -0,0 +1,161 @@
+import { NextRequest, NextResponse } from 'next/server'
+import { getServerSession } from 'next-auth'
+import { authOptions } from '@/lib/auth'
+import { prisma } from '@/lib/prisma'
+import { calcFundNav, round2 } from '@/lib/pricing'
+
+const STARTING_BALANCE = 2000
+
+/**
+ * POST /api/user/me/reset
+ * Body: { keepHistory?: boolean }
+ *
+ * Resets the current user's account. Deletes positions, fund investments, and
+ * portfolio history. When keepHistory is true the existing trade log is
+ * preserved and two bookmark entries are appended:
+ *   • DONATION  — user was in the green (totalValue ≥ $2k): records the value donated
+ *   • BANKRUPTCY — user was in the red  (totalValue < $2k): records the debt cleared
+ *   • ACCOUNT_OPEN — always appended, records the fresh $2k grant
+ * When keepHistory is false all trades are also deleted.
+ */
+export async function POST(req: NextRequest) {
+  const session = await getServerSession(authOptions)
+  if (!session) return NextResponse.json({ error: 'Unauthorized' }, { status: 401 })
+
+  const userId = session.user.id
+  const body = await req.json().catch(() => ({}))
+  const keepHistory = body.keepHistory === true
+
+  const user = await prisma.user.findUnique({
+    where: { id: userId },
+    select: {
+      balance: true,
+      isFund: true,
+      fundInvestments: {
+        where: { shares: { gt: 0 } },
+        select: {
+          fundId: true,
+          shares: true,
+          fund: {
+            select: {
+              userId: true,
+              sharesOutstanding: true,
+              user: {
+                select: {
+                  balance: true,
+                  positions: {
+                    where: { shares: { gt: 0 } },
+                    select: {
+                      shares: true,
+                      avgBuyPrice: true,
+                      positionType: true,
+                      hashtag: { select: { currentPrice: true } },
+                    },
+                  },
+                },
+              },
+            },
+          },
+        },
+      },
+      positions: {
+        where: { shares: { gt: 0 } },
+        select: {
+          shares: true,
+          avgBuyPrice: true,
+          positionType: true,
+          hashtag: { select: { currentPrice: true } },
+        },
+      },
+    },
+  })
+  if (!user) return NextResponse.json({ error: 'Not found' }, { status: 404 })
+  if (user.isFund) {
+    return NextResponse.json({ error: 'Fund accounts cannot be reset this way.' }, { status: 400 })
+  }
+
+  const portfolioValue = user.positions.reduce((sum, p) => {
+    const val =
+      p.positionType === 'LONG'
+        ? p.shares * p.hashtag.currentPrice
+        : (2 * p.avgBuyPrice - p.hashtag.currentPrice) * p.shares
+    return sum + val
+  }, 0)
+  const fundInvestmentValue = user.fundInvestments.reduce((sum, inv) => {
+    const fundPortfolioValue = inv.fund.user.positions.reduce((psum, p) => {
+      const val =
+        p.positionType === 'LONG'
+          ? p.shares * p.hashtag.currentPrice
+          : (2 * p.avgBuyPrice - p.hashtag.currentPrice) * p.shares
+      return psum + val
+    }, 0)
+    const fundTotalValue = inv.fund.user.balance + fundPortfolioValue
+    const nav = calcFundNav(fundTotalValue, inv.fund.sharesOutstanding)
+    return sum + Math.max(0, inv.shares * nav)
+  }, 0)
+  const totalValue = user.balance + portfolioValue + fundInvestmentValue
+
+  // Forfeit all fund investments — decrement sharesOutstanding and withdraw cash from fund
+  const fundUpdates = user.fundInvestments
+    .filter((inv) => inv.shares > 0)
+    .flatMap((inv) => {
+      const fundPortfolioValue = inv.fund.user.positions.reduce((psum, p) => {
+        const val =
+          p.positionType === 'LONG'
+            ? p.shares * p.hashtag.currentPrice
+            : (2 * p.avgBuyPrice - p.hashtag.currentPrice) * p.shares
+        return psum + val
+      }, 0)
+      const fundTotalValue = inv.fund.user.balance + fundPortfolioValue
+      const nav = calcFundNav(fundTotalValue, inv.fund.sharesOutstanding)
+      const payout = Math.max(0, round2(inv.shares * nav))
+      return [
+        prisma.hedgeFund.update({
+          where: { id: inv.fundId },
+          data: { sharesOutstanding: { decrement: inv.shares } },
+        }),
+        prisma.user.update({
+          where: { id: inv.fund.userId },
+          data: { balance: { decrement: payout } },
+        }),
+      ]
+    })
+
+  const tradeOps = keepHistory
+    ? [
+        totalValue >= STARTING_BALANCE
+          ? prisma.trade.create({
+              data: { userId, type: 'DONATION', shares: 0, price: 0, total: totalValue, profit: -totalValue },
+            })
+          : prisma.trade.create({
+              data: {
+                userId,
+                type: 'BANKRUPTCY',
+                shares: 0,
+                price: 0,
+                total: STARTING_BALANCE - totalValue,
+                profit: STARTING_BALANCE - totalValue,
+              },
+            }),
+        prisma.trade.create({
+          data: { userId, type: 'ACCOUNT_OPEN', shares: 0, price: 0, total: STARTING_BALANCE, profit: STARTING_BALANCE, createdAt: new Date(Date.now() + 1000) },
+        }),
+      ]
+    : [
+        prisma.trade.deleteMany({ where: { userId } }),
+        prisma.trade.create({
+          data: { userId, type: 'ACCOUNT_OPEN', shares: 0, price: 0, total: STARTING_BALANCE, profit: STARTING_BALANCE },
+        }),
+      ]
+
+  await prisma.$transaction([
+    ...fundUpdates,
+    prisma.fundInvestment.deleteMany({ where: { userId } }),
+    prisma.position.deleteMany({ where: { userId } }),
+    prisma.userPortfolioHistory.deleteMany({ where: { userId } }),
+    prisma.user.update({ where: { id: userId }, data: { balance: STARTING_BALANCE } }),
+    ...tradeOps,
+  ])
+
+  return NextResponse.json({ ok: true })
+}

src/app/api/user/me/route.ts

@@ -2,6 +2,7 @@ import { NextRequest, NextResponse } from 'next/server'
 import { getServerSession } from 'next-auth'
 import { authOptions } from '@/lib/auth'
 import { prisma } from '@/lib/prisma'
+import { calcFundNav, round2 } from '@/lib/pricing'
 
 const USERNAME_RE = /^[a-z0-9_]{3,20}$/ // validated after toLowerCase
 
@@ -90,3 +91,62 @@ export async function PATCH(req: NextRequest) {
 
   return NextResponse.json({ ok: true, ...updated })
 }
+
+/**
+ * DELETE /api/user/me
+ * Permanently deletes the authenticated user's account.
+ * Fund investments are reconciled (sharesOutstanding decremented) before deletion.
+ */
+export async function DELETE() {
+  const session = await getServerSession(authOptions)
+  if (!session) return NextResponse.json({ error: 'Unauthorized' }, { status: 401 })
+
+  const user = await prisma.user.findUnique({
+    where: { id: session.user.id },
+    select: {
+      id: true,
+      isFund: true,
+      fundInvestments: { select: { fundId: true, shares: true } },
+    },
+  })
+  if (!user) return NextResponse.json({ error: 'Not found' }, { status: 404 })
+  if (user.isFund) return NextResponse.json({ error: 'Fund accounts cannot be self-deleted.' }, { status: 400 })
+
+  // Redeem each fund investment at current NAV — deduct payout from fund cash
+  for (const inv of user.fundInvestments) {
+    const fund = await prisma.hedgeFund.findUnique({
+      where: { id: inv.fundId },
+      select: {
+        id: true,
+        userId: true,
+        sharesOutstanding: true,
+        user: {
+          select: {
+            balance: true,
+            positions: {
+              where: { shares: { gt: 0 } },
+              select: { shares: true, avgBuyPrice: true, positionType: true, hashtag: { select: { currentPrice: true } } },
+            },
+          },
+        },
+      },
+    })
+    if (!fund) continue
+    const portfolioValue = fund.user.positions.reduce((sum, p) => {
+      const val = p.positionType === 'LONG'
+        ? p.shares * p.hashtag.currentPrice
+        : (2 * p.avgBuyPrice - p.hashtag.currentPrice) * p.shares
+      return sum + val
+    }, 0)
+    const nav = calcFundNav(fund.user.balance + portfolioValue, fund.sharesOutstanding)
+    const payout = round2(Math.max(0, inv.shares * nav))
+    await prisma.$transaction([
+      prisma.user.update({ where: { id: fund.userId }, data: { balance: { decrement: payout } } }),
+      prisma.hedgeFund.update({ where: { id: fund.id }, data: { sharesOutstanding: { decrement: inv.shares } } }),
+    ])
+  }
+
+  await prisma.user.delete({ where: { id: session.user.id } })
+
+  return NextResponse.json({ ok: true })
+}

src/app/fund/[slug]/InvestPanel.tsx

@@ -0,0 +1,194 @@
+'use client'
+
+import { useState } from 'react'
+import { useRouter } from 'next/navigation'
+import { formatCurrency } from '@/lib/utils'
+
+interface Props {
+  fundSlug: string
+  nav: number
+  userBalance: number
+  userShares: number
+  userAvgNav: number
+}
+
+export default function InvestPanel({ fundSlug, nav, userBalance, userShares, userAvgNav }: Props) {
+  const router = useRouter()
+  const [tab, setTab] = useState<'invest' | 'redeem'>('invest')
+  const [amount, setAmount] = useState('')
+  const [shares, setShares] = useState('')
+  const [loading, setLoading] = useState(false)
+  const [error, setError] = useState('')
+  const [success, setSuccess] = useState('')
+
+  const amountNum = parseFloat(amount) || 0
+  const sharesNum = parseFloat(shares) || 0
+  const previewShares = nav > 0 ? amountNum / nav : 0
+  const previewPayout = sharesNum * nav
+
+  async function handleInvest(e: React.FormEvent) {
+    e.preventDefault()
+    setError('')
+    setSuccess('')
+    if (amountNum < 1) { setError('Minimum $1'); return }
+    setLoading(true)
+    try {
+      const res = await fetch(`/api/funds/${fundSlug}/invest`, {
+        method: 'POST',
+        headers: { 'Content-Type': 'application/json' },
+        body: JSON.stringify({ amount: amountNum }),
+      })
+      const data = await res.json()
+      if (!res.ok) { setError(data.error ?? 'Failed'); return }
+      setSuccess(`Invested! You received ${data.shares.toFixed(4)} shares at NAV ${formatCurrency(data.nav)}.`)
+      setAmount('')
+      router.refresh()
+    } finally {
+      setLoading(false)
+    }
+  }
+
+  async function handleRedeem(e: React.FormEvent) {
+    e.preventDefault()
+    setError('')
+    setSuccess('')
+    if (sharesNum <= 0) { setError('Enter shares to redeem'); return }
+    setLoading(true)
+    try {
+      const res = await fetch(`/api/funds/${fundSlug}/redeem`, {
+        method: 'POST',
+        headers: { 'Content-Type': 'application/json' },
+        body: JSON.stringify({ shares: sharesNum }),
+      })
+      const data = await res.json()
+      if (!res.ok) { setError(data.error ?? 'Failed'); return }
+      setSuccess(`Redeemed ${sharesNum.toFixed(4)} shares for ${formatCurrency(data.payout)}.`)
+      setShares('')
+      router.refresh()
+    } finally {
+      setLoading(false)
+    }
+  }
+
+  return (
+    <div className="bg-surface-card border border-surface-border rounded-xl overflow-hidden">
+      {/* Tab bar */}
+      <div className="flex border-b border-surface-border">
+        {(['invest', 'redeem'] as const).map((t) => (
+          <button
+            key={t}
+            onClick={() => { setTab(t); setError(''); setSuccess('') }}
+            className={`flex-1 py-3 text-sm font-medium capitalize transition-colors ${
+              tab === t
+                ? 'text-indigo-300 border-b-2 border-indigo-400 bg-indigo-500/5'
+                : 'text-slate-400 hover:text-slate-200'
+            }`}
+          >
+            {t}
+          </button>
+        ))}
+      </div>
+
+      <div className="p-5 space-y-4">
+        {/* NAV info */}
+        <div className="flex items-center justify-between text-sm">
+          <span className="text-slate-400">Current NAV / share</span>
+          <span className="font-semibold">{formatCurrency(nav)}</span>
+        </div>
+
+        {/* Holdings summary */}
+        {userShares > 0 && (
+          <div className="bg-indigo-500/5 border border-indigo-500/20 rounded-lg px-4 py-3 text-sm space-y-1">
+            <div className="flex justify-between">
+              <span className="text-slate-400">Your shares</span>
+              <span className="font-medium">{userShares.toFixed(4)}</span>
+            </div>
+            <div className="flex justify-between">
+              <span className="text-slate-400">Current value</span>
+              <span className="font-medium">{formatCurrency(userShares * nav)}</span>
+            </div>
+            <div className="flex justify-between">
+              <span className="text-slate-400">Avg buy NAV</span>
+              <span className="font-medium">{formatCurrency(userAvgNav)}</span>
+            </div>
+          </div>
+        )}
+
+        {tab === 'invest' ? (
+          <form onSubmit={handleInvest} className="space-y-3">
+            <div>
+              <label className="text-xs text-slate-400 mb-1 block">Amount to invest</label>
+              <div className="relative">
+                <span className="absolute left-3 top-1/2 -translate-y-1/2 text-slate-400">$</span>
+                <input
+                  type="number"
+                  min="1"
+                  step="0.01"
+                  value={amount}
+                  onChange={(e) => setAmount(e.target.value)}
+                  placeholder="0.00"
+                  className="w-full bg-surface border border-surface-border rounded-lg pl-7 pr-3 py-2.5 text-sm focus:outline-none focus:border-indigo-500"
+                />
+              </div>
+              <p className="text-xs text-slate-500 mt-1">
+                Balance: {formatCurrency(userBalance)}
+              </p>
+            </div>
+            {amountNum >= 1 && (
+              <p className="text-xs text-slate-400">
+                  You&apos;ll receive ≈ <span className="text-white font-medium">{previewShares.toFixed(6)} shares</span>
+              </p>
+            )}
+            <button
+              type="submit"
+              disabled={loading || amountNum < 1}
+              className="w-full py-2.5 rounded-lg bg-indigo-600 hover:bg-indigo-500 disabled:opacity-50 disabled:cursor-not-allowed text-sm font-medium transition-colors"
+            >
+              {loading ? 'Investing…' : 'Invest'}
+            </button>
+          </form>
+        ) : (
+          <form onSubmit={handleRedeem} className="space-y-3">
+            <div>
+              <label className="text-xs text-slate-400 mb-1 block">Shares to redeem</label>
+              <input
+                type="number"
+                min="0"
+                step="0.000001"
+                max={userShares}
+                value={shares}
+                onChange={(e) => setShares(e.target.value)}
+                placeholder="0.0000"
+                className="w-full bg-surface border border-surface-border rounded-lg px-3 py-2.5 text-sm focus:outline-none focus:border-indigo-500"
+              />
+              {userShares > 0 && (
+                <button
+                  type="button"
+                  onClick={() => setShares(String(userShares))}
+                  className="text-xs text-indigo-400 hover:text-indigo-300 mt-1"
+                >
+                  Max ({userShares.toFixed(6)})
+                </button>
+              )}
+            </div>
+            {sharesNum > 0 && (
+              <p className="text-xs text-slate-400">
+                You&apos;ll receive ≈ <span className="text-white font-medium">{formatCurrency(previewPayout)}</span>
+              </p>
+            )}
+            <button
+              type="submit"
+              disabled={loading || sharesNum <= 0 || sharesNum > userShares}
+              className="w-full py-2.5 rounded-lg bg-emerald-700 hover:bg-emerald-600 disabled:opacity-50 disabled:cursor-not-allowed text-sm font-medium transition-colors"
+            >
+              {loading ? 'Redeeming…' : 'Redeem'}
+            </button>
+          </form>
+        )}
+
+        {error && <p className="text-red-400 text-sm">{error}</p>}
+        {success && <p className="text-emerald-400 text-sm">{success}</p>}
+      </div>
+    </div>
+  )
+}

src/app/fund/[slug]/page.tsx

@@ -0,0 +1,294 @@
+import { prisma } from '@/lib/prisma'
+import { getServerSession } from 'next-auth'
+import { authOptions } from '@/lib/auth'
+import { notFound } from 'next/navigation'
+import { formatCurrency, formatPnl, pnlColor } from '@/lib/utils'
+import { formatDistanceToNow } from 'date-fns'
+import Link from 'next/link'
+import { Building2, TrendingUp, TrendingDown } from 'lucide-react'
+import { AutoRefresh } from '@/components/AutoRefresh'
+import { calcFundNav } from '@/lib/pricing'
+import InvestPanel from './InvestPanel'
+import { PriceChart } from '@/components/PriceChart'
+
+import type { Metadata } from 'next'
+
+export const dynamic = 'force-dynamic'
+
+export async function generateMetadata({ params }: { params: { slug: string } }): Promise<Metadata> {
+  const slug = decodeURIComponent(params.slug).toLowerCase()
+  const fund = await prisma.hedgeFund.findUnique({
+    where: { slug },
+    select: { name: true },
+  })
+  const name = fund?.name ?? slug
+  const title = `${name} — HashEx Hedge Fund`
+  const description = `${name} is a hedge fund on HashEx trading Mastodon hashtags. View their portfolio, NAV, and performance.`
+  const imageUrl = `/api/og/fund/${encodeURIComponent(slug)}`
+  return {
+    title,
+    description,
+    openGraph: { title, description, images: [{ url: imageUrl, width: 1200, height: 630, alt: `${name} fund overview` }] },
+    twitter: { card: 'summary_large_image', title, description, images: [imageUrl] },
+  }
+}
+
+export default async function FundPage({ params }: { params: { slug: string } }) {
+  const session = await getServerSession(authOptions)
+  const slug = decodeURIComponent(params.slug).toLowerCase()
+
+  const fund = await prisma.hedgeFund.findUnique({
+    where: { slug },
+    include: {
+      user: {
+        select: {
+          balance: true,
+          positions: {
+            where: { shares: { gt: 0 } },
+            include: { hashtag: { select: { tag: true, displayTag: true, currentPrice: true, isActive: true } } },
+          },
+          trades: {
+            orderBy: { createdAt: 'desc' },
+            take: 30,
+            include: { hashtag: { select: { tag: true, displayTag: true } } },
+          },
+        },
+      },
+      managers: {
+        include: { user: { select: { id: true, username: true, displayUsername: true } } },
+        orderBy: { addedAt: 'asc' },
+      },
+      _count: { select: { investments: true } },
+    },
+  })
+
+  if (!fund) notFound()
+
+  // Fetch NAV history for the chart (last 7 days)
+  const navHistory = await prisma.fundNavHistory.findMany({
+    where: {
+      fundId: fund.id,
+      recordedAt: { gte: new Date(Date.now() - 7 * 24 * 60 * 60 * 1000) },
+    },
+    orderBy: { recordedAt: 'asc' },
+    select: { nav: true, recordedAt: true },
+  })
+
+  // Fetch current user's balance and investment in this fund
+  const [currentUser, userInvestment] = session
+    ? await Promise.all([
+        prisma.user.findUnique({ where: { id: session.user.id }, select: { balance: true, isFund: true } }),
+        prisma.fundInvestment.findUnique({
+          where: { fundId_userId: { fundId: fund.id, userId: session.user.id } },
+          select: { shares: true, avgNavAtBuy: true },
+        }),
+      ])
+    : [null, null]
+
+  const isManager = session
+    ? fund.managers.some((m) => m.userId === session.user.id)
+    : false
+
+  const positions = fund.user.positions
+  const portfolioValue = positions.reduce((sum, p) => {
+    const val = p.positionType === 'LONG'
+      ? p.shares * p.hashtag.currentPrice
+      : p.avgBuyPrice * p.shares - (p.hashtag.currentPrice - p.avgBuyPrice) * p.shares
+    return sum + val
+  }, 0)
+  const unrealizedPnl = positions.reduce((sum, p) => {
+    const pnl = p.positionType === 'LONG'
+      ? (p.hashtag.currentPrice - p.avgBuyPrice) * p.shares
+      : (p.avgBuyPrice - p.hashtag.currentPrice) * p.shares
+    return sum + pnl
+  }, 0)
+
+  const totalValue = fund.user.balance + portfolioValue
+  const nav = calcFundNav(totalValue, fund.sharesOutstanding)
+  const canInvest = !!session && !!currentUser && !currentUser.isFund
+
+  return (
+    <div className="max-w-4xl mx-auto space-y-8">
+      <AutoRefresh intervalMs={30_000} />
+      {/* Header */}
+      <div className="flex flex-col sm:flex-row items-start sm:items-center justify-between gap-4">
+        <div>
+          <div className="flex items-center gap-2 mb-1">
+            <Building2 className="h-6 w-6 text-indigo-400" />
+            <h1 className="text-3xl font-bold">{fund.name}</h1>
+          </div>
+          <p className="text-slate-500 text-sm">Hedge Fund</p>
+          {isManager && (
+            <span className="inline-block mt-2 text-xs px-2 py-0.5 rounded bg-indigo-500/20 text-indigo-300 border border-indigo-500/30">
+              You are a manager of this fund
+            </span>
+          )}
+        </div>
+        <div className="text-right">
+          <p className="text-3xl font-bold">{formatCurrency(totalValue)}</p>
+          <p className="text-sm text-slate-400">total fund value</p>
+        </div>
+      </div>
+
+      {/* NAV history chart */}
+      <div className="bg-surface-card border border-surface-border rounded-xl p-4">
+        <h2 className="text-sm font-medium text-slate-400 mb-3">NAV / Share — Last 7 Days</h2>
+        <PriceChart
+          data={navHistory.map((p) => ({ price: p.nav, recordedAt: p.recordedAt.toISOString() }))}
+          height={220}
+        />
+      </div>
+
+      {/* Stats */}
+      <div className="grid grid-cols-2 sm:grid-cols-3 lg:grid-cols-6 gap-4">
+        {[
+          { label: 'Cash', value: formatCurrency(fund.user.balance) },
+          { label: 'Invested', value: formatCurrency(portfolioValue) },
+          { label: 'Unrealized P&L', value: formatPnl(unrealizedPnl), colorClass: pnlColor(unrealizedPnl) },
+          { label: 'NAV / Share', value: formatCurrency(nav) },
+          { label: 'Shares Out.', value: fund.sharesOutstanding.toFixed(2) },
+          { label: 'Investors', value: String(fund._count.investments) },
+        ].map(({ label, value, colorClass }) => (
+          <div key={label} className="bg-surface-card border border-surface-border rounded-xl p-4">
+            <p className="text-xs text-slate-500 mb-1">{label}</p>
+            <p className={`text-lg font-semibold ${colorClass ?? ''}`}>{value}</p>
+          </div>
+        ))}
+      </div>
+
+      {/* Manager trading panel */}
+      {isManager && (
+        <div className="bg-indigo-500/5 border border-indigo-500/20 rounded-xl p-5">
+          <h2 className="font-semibold mb-1 flex items-center gap-2">
+            <Building2 className="h-4 w-4 text-indigo-400" />
+            Trade on behalf of this fund
+          </h2>
+          <p className="text-sm text-slate-400 mb-4">
+            Search for a hashtag below and trade using the fund&apos;s balance.
+            All positions and profit belong to the fund.
+          </p>
+          <div className="flex flex-wrap gap-2">
+            {positions.map((p) => (
+              <Link
+                key={p.id}
+                href={`/hashtag/${p.hashtag.tag}?fund=${fund.slug}`}
+                className="text-xs bg-surface border border-surface-border hover:border-indigo-500/50 text-slate-300 hover:text-indigo-300 px-3 py-1.5 rounded-full transition-colors"
+              >
+                #{p.hashtag.displayTag}
+              </Link>
+            ))}
+            <Link
+              href={`/stocks?fund=${fund.slug}`}
+              className="text-xs bg-indigo-600/20 border border-indigo-500/30 hover:bg-indigo-600/30 text-indigo-300 px-3 py-1.5 rounded-full transition-colors"
+            >
+              Browse all stocks →
+            </Link>
+          </div>
+        </div>
+      )}
+
+      {/* Invest / Redeem panel */}
+      {canInvest && (
+        <div>
+          <h2 className="font-semibold mb-3 flex items-center gap-2 text-sm text-slate-400 uppercase tracking-wider">
+            Invest in this Fund
+          </h2>
+          <InvestPanel
+            fundSlug={fund.slug}
+            nav={nav}
+            userBalance={currentUser!.balance}
+            userShares={userInvestment?.shares ?? 0}
+            userAvgNav={userInvestment?.avgNavAtBuy ?? 0}
+          />
+        </div>
+      )}
+
+      {/* Open positions */}
+      {positions.length > 0 && (
+        <div className="bg-surface-card border border-surface-border rounded-xl overflow-hidden">
+          <h2 className="text-sm font-medium text-slate-400 px-4 py-3 border-b border-surface-border">
+            Open Positions
+          </h2>
+          <div className="divide-y divide-surface-border">
+            {positions.map((p) => {
+              const pnl = p.positionType === 'LONG'
+                ? (p.hashtag.currentPrice - p.avgBuyPrice) * p.shares
+                : (p.avgBuyPrice - p.hashtag.currentPrice) * p.shares
+              return (
+                <div key={p.id} className="flex items-center justify-between px-4 py-3 text-sm">
+                  <div className="flex items-center gap-3">
+                    <Link
+                      href={isManager ? `/hashtag/${p.hashtag.tag}?fund=${fund.slug}` : `/hashtag/${p.hashtag.tag}`}
+                      className="font-medium text-indigo-300 hover:text-indigo-200"
+                    >
+                      #{p.hashtag.displayTag}
+                    </Link>
+                    <span className={`text-xs px-1.5 py-0.5 rounded ${p.positionType === 'LONG' ? 'bg-emerald-500/15 text-emerald-400' : 'bg-red-500/15 text-red-400'}`}>
+                      {p.positionType}
+                    </span>
+                  </div>
+                  <div className="text-right">
+                    <p className="font-medium">{formatCurrency(p.shares * p.hashtag.currentPrice)}</p>
+                    <p className={`text-xs ${pnlColor(pnl)}`}>{formatPnl(pnl)}</p>
+                  </div>
+                </div>
+              )
+            })}
+          </div>
+        </div>
+      )}
+
+      {/* Managers */}
+      <div className="bg-surface-card border border-surface-border rounded-xl overflow-hidden">
+        <h2 className="text-sm font-medium text-slate-400 px-4 py-3 border-b border-surface-border">
+          Managers
+        </h2>
+        {fund.managers.length === 0 ? (
+          <p className="text-slate-500 text-sm px-4 py-3">No managers assigned yet.</p>
+        ) : (
+          <div className="divide-y divide-surface-border">
+            {fund.managers.map((m) => (
+              <div key={m.id} className="flex items-center justify-between px-4 py-3 text-sm">
+                <Link href={`/profile/${m.user.username}`} className="text-slate-300 hover:text-white">
+                  {m.user.displayUsername ?? m.user.username}
+                </Link>
+                <span className="text-xs text-slate-500">
+                  since {formatDistanceToNow(new Date(m.addedAt), { addSuffix: true })}
+                </span>
+              </div>
+            ))}
+          </div>
+        )}
+      </div>
+
+      {/* Recent trades */}
+      {fund.user.trades.length > 0 && (
+        <div className="bg-surface-card border border-surface-border rounded-xl overflow-hidden">
+          <h2 className="text-sm font-medium text-slate-400 px-4 py-3 border-b border-surface-border">
+            Recent Trades
+          </h2>
+          <div className="divide-y divide-surface-border">
+            {fund.user.trades.map((t) => (
+              <div key={t.id} className="flex items-center justify-between px-4 py-2.5 text-sm">
+                <div className="flex items-center gap-3">
+                  <span className={`text-xs font-medium px-2 py-0.5 rounded ${t.type.startsWith('BUY') ? 'bg-emerald-500/15 text-emerald-400' : 'bg-red-500/15 text-red-400'}`}>
+                    {t.type.replace('_', ' ')}
+                  </span>
+                  {t.hashtag && (
+                    <Link href={`/hashtag/${t.hashtag.tag}`} className="text-slate-300 hover:text-white">
+                      #{t.hashtag.displayTag}
+                    </Link>
+                  )}
+                </div>
+                <div className="text-right text-xs text-slate-400">
+                  <p>{formatCurrency(t.total)}</p>
+                  <p>{formatDistanceToNow(new Date(t.createdAt), { addSuffix: true })}</p>
+                </div>
+              </div>
+            ))}
+          </div>
+        </div>
+      )}
+    </div>
+  )
+}

src/app/fund/apply/FundApplicationClient.tsx

@@ -0,0 +1,156 @@
+'use client'
+
+import { useState } from 'react'
+import { useRouter } from 'next/navigation'
+import Link from 'next/link'
+import { Building2, Clock, CheckCircle } from 'lucide-react'
+
+interface Props {
+  existing: { fundName: string; reason: string; createdAt: string } | null
+  managedFund: { name: string; slug: string } | null
+}
+
+export default function FundApplicationClient({ existing, managedFund }: Props) {
+  const router = useRouter()
+  const [fundName, setFundName] = useState('')
+  const [reason, setReason] = useState('')
+  const [error, setError] = useState('')
+  const [loading, setLoading] = useState(false)
+  const [withdrawing, setWithdrawing] = useState(false)
+
+  // Pending application
+  if (existing) {
+    async function withdraw() {
+      setWithdrawing(true)
+      await fetch('/api/fund-applications', { method: 'DELETE' })
+      setWithdrawing(false)
+      router.refresh()
+    }
+
+    return (
+      <div className="space-y-4">
+        {managedFund && (
+          <div className="bg-surface-card border border-surface-border rounded-xl p-4 flex items-start gap-3">
+            <CheckCircle className="h-4 w-4 text-green-400 mt-0.5 shrink-0" />
+            <p className="text-sm text-slate-400">
+              You already manage{' '}
+              <Link href={`/fund/${managedFund.slug}`} className="text-indigo-400 hover:text-indigo-300 underline underline-offset-2">
+                {managedFund.name}
+              </Link>
+              . You can still apply for an additional fund.
+            </p>
+          </div>
+        )}
+        <div className="bg-surface-card border border-indigo-500/30 rounded-xl p-6 space-y-4">
+          <div className="flex items-center gap-3">
+            <Clock className="h-5 w-5 text-amber-400" />
+            <p className="font-medium">Application pending review</p>
+          </div>
+          <div className="space-y-2 text-sm">
+            <div>
+              <span className="text-slate-500 text-xs uppercase tracking-wide">Fund Name</span>
+              <p className="text-white mt-0.5">{existing.fundName}</p>
+            </div>
+            <div>
+              <span className="text-slate-500 text-xs uppercase tracking-wide">Reason</span>
+              <p className="text-slate-300 mt-0.5 whitespace-pre-wrap">{existing.reason}</p>
+            </div>
+            <p className="text-xs text-slate-500">
+              Submitted {new Date(existing.createdAt).toLocaleDateString()}
+            </p>
+          </div>
+          <button
+            onClick={withdraw}
+            disabled={withdrawing}
+            className="text-xs text-red-400 hover:text-red-300 transition-colors disabled:opacity-50"
+          >
+            {withdrawing ? 'Withdrawing…' : 'Withdraw application'}
+          </button>
+        </div>
+      </div>
+    )
+  }
+
+  // Submit form
+  async function handleSubmit(e: React.FormEvent) {
+    e.preventDefault()
+    if (!fundName.trim() || !reason.trim()) return
+    setLoading(true)
+    setError('')
+    const res = await fetch('/api/fund-applications', {
+      method: 'POST',
+      headers: { 'Content-Type': 'application/json' },
+      body: JSON.stringify({ fundName: fundName.trim(), reason: reason.trim() }),
+    })
+    const data = await res.json()
+    setLoading(false)
+    if (!res.ok) { setError(data.error ?? 'Failed to submit'); return }
+    router.refresh()
+  }
+
+  return (
+    <div className="space-y-4">
+      {managedFund && (
+        <div className="bg-surface-card border border-surface-border rounded-xl p-4 flex items-start gap-3">
+          <CheckCircle className="h-4 w-4 text-green-400 mt-0.5 shrink-0" />
+          <p className="text-sm text-slate-400">
+            You already manage{' '}
+            <Link href={`/fund/${managedFund.slug}`} className="text-indigo-400 hover:text-indigo-300 underline underline-offset-2">
+              {managedFund.name}
+            </Link>
+            . You can still apply for an additional fund below.
+          </p>
+        </div>
+      )}
+      <form onSubmit={handleSubmit} className="bg-surface-card border border-surface-border rounded-xl p-6 space-y-4">
+        <div className="flex items-center gap-2 text-slate-300">
+          <Building2 className="h-5 w-5 text-indigo-400" />
+          <span className="font-medium">New Fund Application</span>
+        </div>
+
+        {error && (
+          <p className="text-red-400 text-sm bg-red-400/10 border border-red-400/20 rounded-lg px-3 py-2">{error}</p>
+        )}
+
+        <div>
+          <label className="text-xs text-slate-500 uppercase tracking-wide block mb-1">
+            Fund Name <span className="normal-case">(max 60 chars)</span>
+          </label>
+          <input
+            value={fundName}
+            onChange={(e) => setFundName(e.target.value)}
+            maxLength={60}
+            placeholder="TechAlpha Capital"
+            required
+            className="w-full bg-surface border border-surface-border rounded-lg px-3 py-2 text-sm focus:outline-none focus:ring-2 focus:ring-indigo-500"
+          />
+        </div>
+
+        <div>
+          <label className="text-xs text-slate-500 uppercase tracking-wide block mb-1">
+            Why do you want to run this fund?
+          </label>
+          <textarea
+            value={reason}
+            onChange={(e) => setReason(e.target.value)}
+            rows={5}
+            minLength={10}
+            maxLength={1000}
+            placeholder="Describe your strategy, what hashtags you plan to focus on, and why you'd be a good fund manager…"
+            required
+            className="w-full bg-surface border border-surface-border rounded-lg px-3 py-2 text-sm focus:outline-none focus:ring-2 focus:ring-indigo-500 resize-none"
+          />
+          <p className="text-xs text-slate-600 mt-0.5 text-right">{reason.length}/1000</p>
+        </div>
+
+        <button
+          type="submit"
+          disabled={loading || !fundName.trim() || reason.trim().length < 10}
+          className="w-full py-2 bg-indigo-600 hover:bg-indigo-500 text-white text-sm font-medium rounded-lg disabled:opacity-50 transition-colors"
+        >
+          {loading ? 'Submitting…' : 'Submit Application'}
+        </button>
+      </form>
+    </div>
+  )
+}

src/app/fund/apply/page.tsx

@@ -0,0 +1,35 @@
+import { getServerSession } from 'next-auth'
+import { authOptions } from '@/lib/auth'
+import { redirect } from 'next/navigation'
+import { prisma } from '@/lib/prisma'
+import FundApplicationClient from './FundApplicationClient'
+
+export const dynamic = 'force-dynamic'
+
+export default async function FundApplyPage() {
+  const session = await getServerSession(authOptions)
+  if (!session) redirect('/auth/signin?callbackUrl=/fund/apply')
+
+  const [application, managedFund] = await Promise.all([
+    prisma.fundApplication.findUnique({ where: { userId: session.user.id } }),
+    prisma.fundManager.findFirst({
+      where: { userId: session.user.id },
+      include: { fund: { select: { name: true, slug: true } } },
+    }),
+  ])
+
+  return (
+    <div className="max-w-xl mx-auto space-y-6 py-8">
+      <div>
+        <h1 className="text-2xl font-bold">Apply for a Hedge Fund</h1>
+        <p className="text-slate-400 text-sm mt-1">
+          Propose a new fund. Admins will review your application and approve or deny it.
+        </p>
+      </div>
+      <FundApplicationClient
+        existing={application ? { fundName: application.fundName, reason: application.reason, createdAt: application.createdAt.toISOString() } : null}
+        managedFund={managedFund ? { name: managedFund.fund.name, slug: managedFund.fund.slug } : null}
+      />
+    </div>
+  )
+}

src/app/hashtag/[tag]/TradePanel.tsx

@@ -2,6 +2,7 @@
 
 import { useState } from 'react'
 import { useRouter } from 'next/navigation'
+import Link from 'next/link'
 import { formatCurrency, formatNumber } from '@/lib/utils'
 
 interface Props {
@@ -9,26 +10,39 @@ interface Props {
   balance: number
   longPosition: { shares: number; avgBuyPrice: number } | null
   shortPosition: { shares: number; avgBuyPrice: number } | null
+  fundId?: string
+  fundName?: string
+  managedFunds?: { slug: string; name: string }[]
+  maxPositionShares: number
+  maxPositionValue: number
 }
 
 type Tab = 'BUY_LONG' | 'SELL_LONG' | 'BUY_SHORT' | 'SELL_SHORT'
 
-export function TradePanel({ hashtag, balance, longPosition, shortPosition }: Props) {
+export function TradePanel({ hashtag, balance, longPosition, shortPosition, fundId, fundName, managedFunds, maxPositionShares, maxPositionValue }: Props) {
   const router = useRouter()
   const [tab, setTab] = useState<Tab>('BUY_LONG')
   const [shares, setShares] = useState('')
   const [loading, setLoading] = useState(false)
   const [error, setError] = useState('')
+  const [showFundMenu, setShowFundMenu] = useState(false)
 
   const sharesNum = parseFloat(shares) || 0
   const cost = sharesNum * hashtag.currentPrice
 
-  const maxBuyShares = hashtag.currentPrice > 0 ? Math.floor((balance / hashtag.currentPrice) * 100) / 100 : 0
+  // For buys: max is the lowest of (balance cap, shares cap, value cap) minus existing position
+  const existingBuyShares = tab === 'BUY_LONG' ? (longPosition?.shares ?? 0) : (shortPosition?.shares ?? 0)
+  const remainingShareCap = Math.max(0, maxPositionShares - existingBuyShares)
+  const remainingValueCap = Math.max(0, maxPositionValue - existingBuyShares * hashtag.currentPrice)
+  const sharesFromValueCap = hashtag.currentPrice > 0 ? remainingValueCap / hashtag.currentPrice : 0
+  const sharesFromBalance  = hashtag.currentPrice > 0 ? Math.max(0, balance) / hashtag.currentPrice : 0
+  const maxBuyShares = Math.floor(Math.min(remainingShareCap, sharesFromValueCap, sharesFromBalance) * 100) / 100
+
   const maxSellShares =
     tab === 'SELL_LONG' ? longPosition?.shares ?? 0 : shortPosition?.shares ?? 0
 
   const canAfford =
-    tab === 'BUY_LONG' || tab === 'BUY_SHORT' ? cost <= balance : sharesNum <= (maxSellShares ?? 0)
+    tab === 'BUY_LONG' || tab === 'BUY_SHORT' ? cost <= balance && sharesNum <= maxBuyShares : sharesNum <= (maxSellShares ?? 0)
 
   async function handleTrade() {
     if (sharesNum <= 0) return
@@ -38,7 +52,7 @@ export function TradePanel({ hashtag, balance, longPosition, shortPosition }: Pr
     const res = await fetch('/api/trade', {
       method: 'POST',
       headers: { 'Content-Type': 'application/json' },
-      body: JSON.stringify({ hashtagId: hashtag.id, type: tab, shares: sharesNum }),
+      body: JSON.stringify({ hashtagId: hashtag.id, type: tab, shares: sharesNum, ...(fundId ? { fundId } : {}) }),
     })
 
     const data = await res.json()
@@ -54,10 +68,57 @@ export function TradePanel({ hashtag, balance, longPosition, shortPosition }: Pr
 
   return (
     <div className="bg-surface-card border border-surface-border rounded-xl p-6 space-y-5">
+      {fundName ? (
+        <div className="flex items-center gap-2 text-xs bg-indigo-500/10 border border-indigo-500/30 rounded-lg px-3 py-2 text-indigo-300">
+          <span className="text-base">🏦</span>
+          <span>Trading as <span className="font-semibold">{fundName}</span></span>
+          <Link
+            href={`/hashtag/${hashtag.tag}`}
+            className="ml-auto text-indigo-400 hover:text-indigo-200 transition-colors"
+          >
+            Exit fund mode ×
+          </Link>
+        </div>
+      ) : managedFunds && managedFunds.length === 1 ? (
+        <Link
+          href={`/hashtag/${hashtag.tag}?fund=${encodeURIComponent(managedFunds[0].slug)}`}
+          className="flex items-center gap-2 text-xs border border-surface-border rounded-lg px-3 py-2 text-slate-400 hover:text-slate-200 hover:bg-surface transition-colors"
+        >
+          <span className="text-base">🏦</span>
+          <span>Trade as <span className="font-medium text-slate-200">{managedFunds[0].name}</span></span>
+          <span className="ml-auto">→</span>
+        </Link>
+      ) : managedFunds && managedFunds.length > 1 ? (
+        <div className="text-xs border border-surface-border rounded-lg overflow-hidden">
+          <button
+            type="button"
+            onClick={() => setShowFundMenu((v) => !v)}
+            className="w-full flex items-center gap-2 px-3 py-2 text-slate-400 hover:text-slate-200 hover:bg-surface transition-colors"
+          >
+            <span className="text-base">🏦</span>
+            <span>Trade as a fund</span>
+            <span className="ml-auto text-slate-600">{showFundMenu ? '▲' : '▼'}</span>
+          </button>
+          {showFundMenu && (
+            <div className="border-t border-surface-border divide-y divide-surface-border">
+              {managedFunds.map((f) => (
+                <Link
+                  key={f.slug}
+                  href={`/hashtag/${hashtag.tag}?fund=${encodeURIComponent(f.slug)}`}
+                  className="flex items-center justify-between px-3 py-2 font-medium text-indigo-300 hover:text-indigo-200 hover:bg-surface transition-colors"
+                >
+                  <span>{f.name}</span>
+                  <span className="text-slate-500">→</span>
+                </Link>
+              ))}
+            </div>
+          )}
+        </div>
+      ) : null}
       <div className="flex items-center justify-between">
         <h2 className="font-semibold">Trade #{hashtag.displayTag}</h2>
         <span className="text-sm text-slate-400">
-          Balance: <span className="text-white font-medium">{formatCurrency(balance)}</span>
+          Balance: <span className={`font-medium ${balance < 0 ? 'text-red-400' : 'text-white'}`}>{formatCurrency(balance)}</span>
         </span>
       </div>
 
@@ -67,7 +128,7 @@ export function TradePanel({ hashtag, balance, longPosition, shortPosition }: Pr
           <button
             key={t}
             onClick={() => { setTab(t); setShares(''); setError('') }}
-            className={`flex-1 text-xs py-1.5 rounded-md font-medium transition-colors ${
+            className={`flex-1 text-xs py-1.5 rounded-md font-medium transition-colors leading-tight ${
               tab === t
                 ? t.startsWith('BUY')
                   ? 'bg-emerald-600 text-white'
@@ -75,7 +136,9 @@ export function TradePanel({ hashtag, balance, longPosition, shortPosition }: Pr
                 : 'text-slate-400 hover:text-slate-200'
             }`}
           >
-            {t.replace('_', ' ')}
+            <span className="block sm:inline">{t.split('_')[0]}</span>
+            <span className="hidden sm:inline"> </span>
+            <span className="block sm:inline">{t.split('_')[1]}</span>
           </button>
         ))}
       </div>
@@ -84,23 +147,35 @@ export function TradePanel({ hashtag, balance, longPosition, shortPosition }: Pr
       <div className="grid grid-cols-2 gap-3 text-sm">
         <div className="bg-surface rounded-lg p-3">
           <p className="text-slate-500 text-xs mb-1">LONG position</p>
-          {longPosition ? (
-            <>
-              <p className="font-medium">{formatNumber(longPosition.shares)} shares</p>
-              <p className="text-slate-400 text-xs">avg {formatCurrency(longPosition.avgBuyPrice)}</p>
-            </>
-          ) : (
+          {longPosition ? (() => {
+            const pnl = (hashtag.currentPrice - longPosition.avgBuyPrice) * longPosition.shares
+            return (
+              <>
+                <p className="font-medium">{formatNumber(longPosition.shares)} shares</p>
+                <p className="text-slate-400 text-xs">avg {formatCurrency(longPosition.avgBuyPrice)}</p>
+                <p className={`text-xs font-medium mt-1 ${pnl >= 0 ? 'text-emerald-400' : 'text-red-400'}`}>
+                  {pnl >= 0 ? '+' : ''}{formatCurrency(pnl)}
+                </p>
+              </>
+            )
+          })() : (
             <p className="text-slate-600">None</p>
           )}
         </div>
         <div className="bg-surface rounded-lg p-3">
           <p className="text-slate-500 text-xs mb-1">SHORT position</p>
-          {shortPosition ? (
-            <>
-              <p className="font-medium">{formatNumber(shortPosition.shares)} shares</p>
-              <p className="text-slate-400 text-xs">avg {formatCurrency(shortPosition.avgBuyPrice)}</p>
-            </>
-          ) : (
+          {shortPosition ? (() => {
+            const pnl = (shortPosition.avgBuyPrice - hashtag.currentPrice) * shortPosition.shares
+            return (
+              <>
+                <p className="font-medium">{formatNumber(shortPosition.shares)} shares</p>
+                <p className="text-slate-400 text-xs">avg {formatCurrency(shortPosition.avgBuyPrice)}</p>
+                <p className={`text-xs font-medium mt-1 ${pnl >= 0 ? 'text-emerald-400' : 'text-red-400'}`}>
+                  {pnl >= 0 ? '+' : ''}{formatCurrency(pnl)}
+                </p>
+              </>
+            )
+          })() : (
             <p className="text-slate-600">None</p>
           )}
         </div>
@@ -119,7 +194,14 @@ export function TradePanel({ hashtag, balance, longPosition, shortPosition }: Pr
                 : String(maxSellShares)
             )}
           >
-            Max
+            {(tab === 'BUY_LONG' || tab === 'BUY_SHORT')
+              ? balance <= 0
+                ? <span className="text-red-400">Balance is negative</span>
+                : maxBuyShares === 0
+                  ? 'Max (limit reached)'
+                  : 'Max'
+              : 'Max'
+            }
           </button>
         </div>
         <input

src/app/hashtag/[tag]/page.tsx

@@ -6,30 +6,87 @@ import { formatCurrency, formatNumber } from '@/lib/utils'
 import { PriceChart } from '@/components/PriceChart'
 import { TradePanel } from './TradePanel'
 import { ResearchPanel } from './ResearchPanel'
-import { Hash, Clock, Link as LinkIcon } from 'lucide-react'
+import { Hash, Clock, Link as LinkIcon, AlertTriangle } from 'lucide-react'
 import { formatDistanceToNow } from 'date-fns'
 import Link from 'next/link'
+import { AutoRefresh } from '@/components/AutoRefresh'
+
+const ZOMBIE_ZERO_COUNT = parseInt(process.env.ZOMBIE_ZERO_COUNT ?? '1000', 10)
+const PRICE_UPDATE_INTERVAL_MINUTES = parseInt(process.env.PRICE_UPDATE_INTERVAL_MINUTES ?? '60', 10)
+const MAX_POSITION_SHARES      = parseInt(process.env.MAX_POSITION_SHARES       ?? '100',   10)
+const MAX_POSITION_VALUE       = parseInt(process.env.MAX_POSITION_VALUE        ?? '1000',  10)
+const FUND_MAX_POSITION_SHARES = parseInt(process.env.FUND_MAX_POSITION_SHARES  ?? '1000',  10)
+const FUND_MAX_POSITION_VALUE  = parseInt(process.env.FUND_MAX_POSITION_VALUE   ?? '10000', 10)
+
+import type { Metadata } from 'next'
 
 export const dynamic = 'force-dynamic'
 
 interface Props {
   params: { tag: string }
+  searchParams: { fund?: string }
 }
 
-export default async function HashtagPage({ params }: Props) {
+export async function generateMetadata({ params }: Props): Promise<Metadata> {
+  const tag = decodeURIComponent(params.tag).toLowerCase().replace(/^#+/, '')
+  const hashtag = await prisma.hashtag.findUnique({
+    where: { tag },
+    select: {
+      displayTag: true,
+      currentPrice: true,
+      isActive: true,
+      priceHistory: { orderBy: { recordedAt: 'desc' }, take: 2, select: { price: true } },
+    },
+  })
+
+  const displayTag = hashtag?.displayTag ?? tag
+  const price = hashtag?.currentPrice ?? 0
+  const prevPrice = hashtag?.priceHistory[1]?.price ?? null
+  const changePct = prevPrice && prevPrice > 0
+    ? ((price - prevPrice) / prevPrice) * 100
+    : null
+  const priceStr = new Intl.NumberFormat('en-US', { style: 'currency', currency: 'USD', minimumFractionDigits: 2 }).format(price)
+  const changeStr = changePct !== null
+    ? ` ${changePct >= 0 ? '▲' : '▼'} ${Math.abs(changePct).toFixed(2)}%`
+    : ''
+  const status = hashtag?.isActive === false ? ' · inactive' : ''
+
+  const title = `#${displayTag} — ${priceStr}${changeStr}`
+  const description = `Trade #${displayTag} on HashEx. Current price: ${priceStr}${changeStr}${status}. Prices driven by real Mastodon activity.`
+  const imageUrl = `/api/og/hashtag/${encodeURIComponent(tag)}`
+
+  return {
+    title,
+    description,
+    openGraph: {
+      title,
+      description,
+      images: [{ url: imageUrl, width: 1200, height: 630, alt: `#${displayTag} price chart` }],
+    },
+    twitter: {
+      card: 'summary_large_image',
+      title,
+      description,
+      images: [imageUrl],
+    },
+  }
+}
+
+export default async function HashtagPage({ params, searchParams }: Props) {
   const session = await getServerSession(authOptions)
   const tag = decodeURIComponent(params.tag).toLowerCase().replace(/^#+/, '')
+  const fundSlug = searchParams.fund
 
   const [hashtag, userBalance, userPosition] = await Promise.all([
     prisma.hashtag.findUnique({
       where: { tag },
       include: {
         priceHistory: {
-          orderBy: { recordedAt: 'asc' },
-          take: 200,
+          orderBy: { recordedAt: 'desc' },
+          take: 192, // 192 updates = 2 days of 15-min intervals
         },
         _count: {
-          select: { positions: true },
+          select: { positions: { where: { shares: { gt: 0 } } } },
         },
         relatedFrom: {
           orderBy: { coOccurrences: 'desc' },
@@ -51,6 +108,39 @@ export default async function HashtagPage({ params }: Props) {
       : [],
   ])
 
+  // Resolve fund context if ?fund= is provided
+  let fundContext: { id: string; name: string; balance: number; positions: { hashtagId: string; positionType: string; shares: number; avgBuyPrice: number }[] } | null = null
+  if (fundSlug && session) {
+    const fund = await prisma.hedgeFund.findUnique({
+      where: { slug: fundSlug },
+      include: {
+        user: { select: { balance: true } },
+        managers: { where: { userId: session.user.id }, select: { userId: true } },
+      },
+    })
+    if (fund && fund.managers.length > 0) {
+      const fundPositions = await prisma.position.findMany({
+        where: { userId: fund.userId },
+      })
+      fundContext = {
+        id: fund.id,
+        name: fund.name,
+        balance: fund.user.balance,
+        positions: fundPositions,
+      }
+    }
+  }
+
+  // When not in fund mode, fetch funds this user manages for the fund-mode switcher
+  let managedFunds: { slug: string; name: string }[] = []
+  if (session && !fundContext) {
+    const managerships = await prisma.fundManager.findMany({
+      where: { userId: session.user.id },
+      include: { fund: { select: { slug: true, name: true } } },
+    })
+    managedFunds = managerships.map((m) => ({ slug: m.fund.slug, name: m.fund.name }))
+  }
+
   // Unknown hashtag — show research panel
   if (!hashtag || !hashtag.isActive) {
     return (
@@ -87,8 +177,18 @@ export default async function HashtagPage({ params }: Props) {
   const longPosition = positions.find((p) => p.positionType === 'LONG')
   const shortPosition = positions.find((p) => p.positionType === 'SHORT')
 
+  // When trading as a fund, show the fund's positions instead
+  const activeLong = fundContext
+    ? fundContext.positions.find((p) => p.hashtagId === hashtag.id && p.positionType === 'LONG' && p.shares > 0) ?? null
+    : longPosition ?? null
+  const activeShort = fundContext
+    ? fundContext.positions.find((p) => p.hashtagId === hashtag.id && p.positionType === 'SHORT' && p.shares > 0) ?? null
+    : shortPosition ?? null
+  const activeBalance = fundContext ? fundContext.balance : (userBalance?.balance ?? 0)
+
   return (
     <div className="space-y-8">
+      <AutoRefresh intervalMs={30_000} />
       {/* Header */}
       <div className="flex flex-col sm:flex-row sm:items-end justify-between gap-4">
         <div>
@@ -111,11 +211,35 @@ export default async function HashtagPage({ params }: Props) {
       <div className="bg-surface-card border border-surface-border rounded-xl p-4">
         <h2 className="text-sm font-medium text-slate-400 mb-4">Price History</h2>
         <PriceChart
-          data={hashtag.priceHistory.map((p) => ({ ...p, recordedAt: p.recordedAt.toISOString() }))}
+          data={hashtag.priceHistory.slice().reverse().map((p) => ({ ...p, recordedAt: p.recordedAt.toISOString() }))}
           height={280}
         />
       </div>
 
+      {/* Zombie warning — only shown when signed in, holding a position, and threshold reached */}
+      {session && (activeLong || activeShort) && hashtag.zeroCount >= ZOMBIE_ZERO_COUNT * 0.9 && (() => {
+        const zombieSince = formatDistanceToNow(
+          new Date(Date.now() - hashtag.zeroCount * PRICE_UPDATE_INTERVAL_MINUTES * 60 * 1000),
+        )
+        const zombieEta = formatDistanceToNow(
+          new Date(Date.now() + (ZOMBIE_ZERO_COUNT - hashtag.zeroCount) * PRICE_UPDATE_INTERVAL_MINUTES * 60 * 1000),
+          { addSuffix: true },
+        )
+        return (
+          <div className="bg-amber-500/5 border border-amber-500/25 rounded-xl p-4 flex items-start gap-3">
+            <AlertTriangle className="h-5 w-5 text-amber-400 shrink-0 mt-0.5" />
+            <div>
+              <p className="text-sm font-medium text-amber-400">Auto-liquidation risk</p>
+              <p className="text-sm text-slate-400 mt-0.5">
+                No activity detected for <span className="text-slate-200">{zombieSince}</span>.
+                If this continues, your position will be force-closed{' '}
+                <span className="text-slate-200">{zombieEta}</span>.
+              </p>
+            </div>
+          </div>
+        )
+      })()}
+
       {/* Trade panel or sign-in prompt */}
       {session ? (
         <TradePanel
@@ -125,17 +249,14 @@ export default async function HashtagPage({ params }: Props) {
             displayTag: hashtag.displayTag,
             currentPrice: hashtag.currentPrice,
           }}
-          balance={userBalance?.balance ?? 0}
-          longPosition={
-            longPosition
-              ? { shares: longPosition.shares, avgBuyPrice: longPosition.avgBuyPrice }
-              : null
-          }
-          shortPosition={
-            shortPosition
-              ? { shares: shortPosition.shares, avgBuyPrice: shortPosition.avgBuyPrice }
-              : null
-          }
+          balance={activeBalance}
+          longPosition={activeLong ? { shares: activeLong.shares, avgBuyPrice: activeLong.avgBuyPrice } : null}
+          shortPosition={activeShort ? { shares: activeShort.shares, avgBuyPrice: activeShort.avgBuyPrice } : null}
+          fundId={fundContext?.id}
+          fundName={fundContext?.name}
+          maxPositionShares={fundContext ? FUND_MAX_POSITION_SHARES : MAX_POSITION_SHARES}
+          maxPositionValue={fundContext ? FUND_MAX_POSITION_VALUE : MAX_POSITION_VALUE}
+          managedFunds={managedFunds}
         />
       ) : (
         <div className="bg-surface-card border border-surface-border rounded-xl p-6 text-center">
@@ -181,7 +302,7 @@ async function RecentTradesSection({ hashtagId }: { hashtagId: string }) {
     where: { hashtagId },
     orderBy: { createdAt: 'desc' },
     take: 20,
-    include: { user: { select: { username: true } } },
+    include: { user: { select: { username: true, displayUsername: true, isFund: true } } },
   })
 
   if (trades.length === 0) return null
@@ -202,12 +323,15 @@ async function RecentTradesSection({ hashtagId }: { hashtagId: string }) {
               >
                 {t.type.replace('_', ' ')}
               </span>
-              <a
-                href={`/profile/${t.user.username}`}
-                className="text-slate-400 hover:text-slate-200"
-              >
-                {t.user.username}
-              </a>
+              <div className="flex items-center gap-1">
+                {t.user.isFund && <span className="text-indigo-400">🏦</span>}
+                <Link
+                  href={t.user.isFund ? `/fund/${t.user.username.replace('fund:', '')}` : `/profile/${t.user.username}`}
+                  className="text-slate-400 hover:text-slate-200"
+                >
+                  {t.user.displayUsername ?? t.user.username}
+                </Link>
+              </div>
             </div>
             <div className="text-right">
               <span className="text-slate-300">{formatNumber(t.shares)} sh</span>

src/app/history/page.tsx

@@ -0,0 +1,182 @@
+import { prisma } from '@/lib/prisma'
+import { getServerSession } from 'next-auth'
+import { authOptions } from '@/lib/auth'
+import { redirect } from 'next/navigation'
+import { formatCurrency, formatNumber, formatPnl, pnlColor } from '@/lib/utils'
+import Link from 'next/link'
+import { TrendingUp } from 'lucide-react'
+import { formatDistanceToNow } from 'date-fns'
+
+export const dynamic = 'force-dynamic'
+
+const PAGE_SIZE = 50
+
+interface PageProps {
+  searchParams: { page?: string }
+}
+
+export default async function TradeHistoryPage({ searchParams }: PageProps) {
+  const session = await getServerSession(authOptions)
+  if (!session) redirect('/auth/signin')
+
+  const page = Math.max(1, parseInt(searchParams.page ?? '1', 10))
+
+  const [total, trades] = await Promise.all([
+    prisma.trade.count({ where: { userId: session.user.id } }),
+    prisma.trade.findMany({
+      where: { userId: session.user.id },
+      orderBy: { createdAt: 'desc' },
+      take: PAGE_SIZE,
+      skip: (page - 1) * PAGE_SIZE,
+      include: {
+        hashtag: { select: { tag: true, displayTag: true } },
+        fund: { select: { name: true, slug: true } },
+      },
+    }),
+  ])
+
+  const totalPages = Math.max(1, Math.ceil(total / PAGE_SIZE))
+
+  return (
+    <div className="max-w-3xl mx-auto space-y-6">
+      {/* Header */}
+      <div className="flex items-center gap-3">
+        <TrendingUp className="h-6 w-6 text-indigo-400" />
+        <h1 className="text-2xl font-bold">Trade History</h1>
+        <span className="text-slate-500 text-sm">({total} total)</span>
+      </div>
+
+      {trades.length === 0 ? (
+        <div className="text-center py-16 text-slate-500">
+          <TrendingUp className="h-12 w-12 mx-auto mb-3 opacity-30" />
+          <p>No trades yet.</p>
+          <Link href="/" className="text-indigo-400 hover:text-indigo-300 text-sm mt-2 inline-block">
+            Browse trending hashtags →
+          </Link>
+        </div>
+      ) : (
+        <>
+          <div className="bg-surface-card border border-surface-border rounded-xl overflow-hidden">
+            <div className="divide-y divide-surface-border">
+              {trades.map((t) => {
+                const isLottery = t.type === 'LOTTERY_WIN'
+                const isLiquidation = t.type === 'LIQUIDATE_LONG' || t.type === 'LIQUIDATE_SHORT'
+                const isSystemReset = t.type === 'DONATION' || t.type === 'BANKRUPTCY' || t.type === 'ACCOUNT_OPEN'
+                const isFundTrade = t.type === 'FUND_INVEST' || t.type === 'FUND_REDEEM'
+                return (
+                  <div key={t.id} className="flex items-center justify-between px-4 py-3 text-sm">
+                    <div className="flex items-center gap-3">
+                      <span
+                        className={`text-xs font-medium px-2 py-0.5 rounded shrink-0 ${
+                          isLiquidation
+                            ? 'bg-orange-500/15 text-orange-400'
+                            : isLottery
+                              ? 'bg-amber-500/15 text-amber-400'
+                              : t.type === 'DONATION'
+                                ? 'bg-purple-500/15 text-purple-400'
+                                : t.type === 'ACCOUNT_OPEN'
+                                  ? 'bg-emerald-500/15 text-emerald-400'
+                                  : isFundTrade
+                                    ? 'bg-indigo-500/15 text-indigo-400'
+                                    : t.type.startsWith('BUY')
+                                      ? 'bg-emerald-500/15 text-emerald-400'
+                                      : 'bg-red-500/15 text-red-400'
+                        }`}
+                      >
+                        {isLiquidation ? 'LIQUIDATED' : t.type.replace(/_/g, ' ')}
+                      </span>
+                      <div>
+                        {isLottery ? (
+                          <span className="text-amber-300">Lucky Dip</span>
+                        ) : isSystemReset ? (
+                          <span className="text-slate-300">
+                            {t.type === 'DONATION'
+                              ? 'Account reset — donated'
+                              : t.type === 'BANKRUPTCY'
+                                ? 'Bankruptcy declared'
+                                : 'Account opened'}
+                          </span>
+                        ) : isFundTrade ? (
+                          t.fund ? (
+                            <Link href={`/fund/${t.fund.slug}`} className="hover:text-indigo-300">
+                              {t.fund.name}
+                            </Link>
+                          ) : (
+                            <span className="text-slate-500">Deleted Fund</span>
+                          )
+                        ) : (
+                          <Link
+                            href={`/hashtag/${t.hashtag!.tag}`}
+                            className="hover:text-indigo-300"
+                          >
+                            #{t.hashtag!.displayTag}
+                          </Link>
+                        )}
+                        <p className="text-xs text-slate-500 mt-0.5">
+                          {formatDistanceToNow(t.createdAt, { addSuffix: true })}
+                        </p>
+                      </div>
+                    </div>
+                    <div className="text-right">
+                      {isLottery || t.type === 'ACCOUNT_OPEN' ? (
+                        <p className="text-emerald-400 font-medium">{formatCurrency(t.profit)}</p>
+                      ) : isSystemReset ? (
+                        <>
+                          <p className="text-slate-500">{formatCurrency(t.total)}</p>
+                          <p className={`text-xs ${pnlColor(t.profit)}`}>{formatPnl(t.profit)}</p>
+                        </>
+                      ) : isFundTrade ? (
+                        <>
+                          <p>{formatNumber(t.shares, 6)} sh @ {formatCurrency(t.price)}</p>
+                          <p className="text-xs text-slate-500">{formatCurrency(t.total)}</p>
+                          {t.type === 'FUND_REDEEM' && (
+                            <p className={`text-xs ${pnlColor(t.profit)}`}>{formatPnl(t.profit)}</p>
+                          )}
+                        </>
+                      ) : (
+                        <>
+                          <p>{formatNumber(t.shares)} sh @ {formatCurrency(t.price)}</p>
+                          <p className="text-xs text-slate-500">{formatCurrency(t.total)}</p>
+                          {(t.type === 'SELL_LONG' || t.type === 'SELL_SHORT' || isLiquidation) && (
+                            <p className={`text-xs ${pnlColor(t.profit)}`}>
+                              {formatPnl(t.profit)}
+                            </p>
+                          )}
+                        </>
+                      )}
+                    </div>
+                  </div>
+                )
+              })}
+            </div>
+          </div>
+
+          {/* Pagination */}
+          {totalPages > 1 && (
+            <div className="flex items-center justify-center gap-2">
+              {page > 1 && (
+                <Link
+                  href={`/history?page=${page - 1}`}
+                  className="px-3 py-1.5 text-sm bg-surface-card border border-surface-border rounded-lg hover:border-indigo-500/50 transition-colors"
+                >
+                  ← Prev
+                </Link>
+              )}
+              <span className="text-slate-500 text-sm">
+                Page {page} of {totalPages}
+              </span>
+              {page < totalPages && (
+                <Link
+                  href={`/history?page=${page + 1}`}
+                  className="px-3 py-1.5 text-sm bg-surface-card border border-surface-border rounded-lg hover:border-indigo-500/50 transition-colors"
+                >
+                  Next →
+                </Link>
+              )}
+            </div>
+          )}
+        </>
+      )}
+    </div>
+  )
+}

src/app/icon.svg

@@ -0,0 +1,13 @@
+<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 32 32">
+  <!-- dark indigo rounded background -->
+  <rect width="32" height="32" rx="7" fill="#1e1b4b"/>
+  <!-- # symbol — slightly angled vertical bars, two horizontal bars -->
+  <!-- left vertical bar (slants slightly: top-right to bottom-left) -->
+  <line x1="12" y1="6" x2="10" y2="26" stroke="#a5b4fc" stroke-width="2.8" stroke-linecap="round"/>
+  <!-- right vertical bar -->
+  <line x1="20" y1="6" x2="18" y2="26" stroke="#a5b4fc" stroke-width="2.8" stroke-linecap="round"/>
+  <!-- upper horizontal bar -->
+  <line x1="6"  y1="13" x2="26" y2="13" stroke="#a5b4fc" stroke-width="2.8" stroke-linecap="round"/>
+  <!-- lower horizontal bar -->
+  <line x1="5"  y1="20" x2="25" y2="20" stroke="#a5b4fc" stroke-width="2.8" stroke-linecap="round"/>
+</svg>

src/app/layout.tsx

@@ -7,6 +7,7 @@ import { Navbar } from '@/components/Navbar'
 const inter = Inter({ subsets: ['latin'] })
 
 export const metadata: Metadata = {
+  metadataBase: new URL(process.env.NEXTAUTH_URL ?? 'http://localhost:3000'),
   title: 'HashEx — The Hashtag Exchange',
   description: 'Trade hashtags like stocks. Prices driven by real Mastodon activity.',
 }

src/app/leaderboard/page.tsx

@@ -2,14 +2,34 @@ import { prisma } from '@/lib/prisma'
 import { getServerSession } from 'next-auth'
 import { authOptions } from '@/lib/auth'
 import { formatCurrency } from '@/lib/utils'
+import { calcFundNav } from '@/lib/pricing'
 import Link from 'next/link'
-import { Trophy, TrendingUp, TrendingDown } from 'lucide-react'
+import { Trophy, TrendingUp, TrendingDown, Building2, Users } from 'lucide-react'
+import { AutoRefresh } from '@/components/AutoRefresh'
+
+import type { Metadata } from 'next'
 
 export const dynamic = 'force-dynamic'
 
+export const metadata: Metadata = {
+  title: 'Leaderboard — HashEx',
+  description: 'Top traders by net worth on HashEx, the hashtag stock exchange.',
+  openGraph: {
+    title: 'Leaderboard — HashEx',
+    description: 'Top traders by net worth on HashEx, the hashtag stock exchange.',
+    images: [{ url: '/api/og/leaderboard', width: 1200, height: 630, alt: 'HashEx leaderboard' }],
+  },
+  twitter: {
+    card: 'summary_large_image',
+    title: 'Leaderboard — HashEx',
+    description: 'Top traders by net worth on HashEx, the hashtag stock exchange.',
+    images: ['/api/og/leaderboard'],
+  },
+}
+
 async function getLeaderboard() {
-  // Fetch all users with their open positions (to calculate net worth)
   const users = await prisma.user.findMany({
+    where: { isFund: false, isHidden: false },
     select: {
       id: true,
       username: true,
@@ -52,119 +72,255 @@ async function getLeaderboard() {
     .slice(0, 50)
 }
 
-export default async function LeaderboardPage() {
-  const [session, players] = await Promise.all([
+async function getFundLeaderboard() {
+  const funds = await prisma.hedgeFund.findMany({
+    include: {
+      user: {
+        select: {
+          balance: true,
+          positions: {
+            where: { shares: { gt: 0 } },
+            select: {
+              positionType: true,
+              shares: true,
+              avgBuyPrice: true,
+              hashtag: { select: { currentPrice: true } },
+            },
+          },
+        },
+      },
+      managers: { select: { userId: true } },
+      _count: { select: { investments: true } },
+    },
+    orderBy: { createdAt: 'asc' },
+  })
+
+  return funds
+    .map((f) => {
+      const portfolioValue = f.user.positions.reduce((sum, p) => {
+        const val = p.positionType === 'LONG'
+          ? p.shares * p.hashtag.currentPrice
+          : p.avgBuyPrice * p.shares - (p.hashtag.currentPrice - p.avgBuyPrice) * p.shares
+        return sum + val
+      }, 0)
+      const totalValue = f.user.balance + portfolioValue
+      const nav = calcFundNav(totalValue, f.sharesOutstanding)
+      return {
+        id: f.id,
+        name: f.name,
+        slug: f.slug,
+        cash: f.user.balance,
+        portfolioValue,
+        totalValue,
+        nav,
+        sharesOutstanding: f.sharesOutstanding,
+        managerCount: f.managers.length,
+        investorCount: f._count.investments,
+      }
+    })
+    .sort((a, b) => b.totalValue - a.totalValue)
+}
+
+export default async function LeaderboardPage({
+  searchParams,
+}: {
+  searchParams: { tab?: string }
+}) {
+  const tab = searchParams.tab === 'funds' ? 'funds' : 'players'
+
+  const [session, players, funds] = await Promise.all([
     getServerSession(authOptions),
     getLeaderboard(),
+    getFundLeaderboard(),
   ])
 
   const myRank = session ? players.findIndex((p) => p.id === session.user.id) + 1 : 0
 
   return (
     <div className="max-w-3xl mx-auto space-y-6">
+      <AutoRefresh intervalMs={30_000} />
       <div className="flex items-center gap-3">
         <Trophy className="h-7 w-7 text-amber-400" />
         <div>
           <h1 className="text-2xl font-bold">Leaderboard</h1>
-          <p className="text-sm text-slate-400">Top 50 players by net worth (cash + open positions)</p>
+          <p className="text-sm text-slate-400">Ranked by net worth (cash + open positions)</p>
         </div>
       </div>
 
-      {session && myRank > 0 && (
-        <div className="bg-indigo-500/10 border border-indigo-500/30 rounded-xl px-4 py-3 text-sm">
-          You are ranked <span className="font-bold text-indigo-300">#{myRank}</span> with a net worth of{' '}
-          <span className="font-bold text-indigo-300">
-            {formatCurrency(players[myRank - 1].netWorth)}
-          </span>
-        </div>
+      {/* Tabs */}
+      <div className="flex gap-1 bg-surface-card border border-surface-border rounded-xl p-1 w-fit">
+        <Link
+          href="/leaderboard?tab=players"
+          className={`flex items-center gap-2 px-4 py-2 rounded-lg text-sm font-medium transition-colors ${
+            tab === 'players' ? 'bg-indigo-600 text-white' : 'text-slate-400 hover:text-slate-200'
+          }`}
+        >
+          <Users className="h-4 w-4" />
+          Players
+          {players.length > 0 && (
+            <span className="text-xs bg-white/10 px-1.5 py-0.5 rounded-full">{players.length}</span>
+          )}
+        </Link>
+        <Link
+          href="/leaderboard?tab=funds"
+          className={`flex items-center gap-2 px-4 py-2 rounded-lg text-sm font-medium transition-colors ${
+            tab === 'funds' ? 'bg-indigo-600 text-white' : 'text-slate-400 hover:text-slate-200'
+          }`}
+        >
+          <Building2 className="h-4 w-4" />
+          Hedge Funds
+          {funds.length > 0 && (
+            <span className="text-xs bg-white/10 px-1.5 py-0.5 rounded-full">{funds.length}</span>
+          )}
+        </Link>
+      </div>
+
+      {tab === 'players' && (
+        <>
+          {session && myRank > 0 && (
+            <div className="bg-indigo-500/10 border border-indigo-500/30 rounded-xl px-4 py-3 text-sm">
+              You are ranked <span className="font-bold text-indigo-300">#{myRank}</span> with a net worth of{' '}
+              <span className="font-bold text-indigo-300">
+                {formatCurrency(players[myRank - 1].netWorth)}
+              </span>
+            </div>
+          )}
+
+          <div className="bg-surface-card border border-surface-border rounded-xl overflow-hidden">
+            <div className="grid grid-cols-[2.5rem_1fr_repeat(3,_8rem)] gap-2 px-4 py-2 text-xs text-slate-500 border-b border-surface-border">
+              <span>#</span>
+              <span>Player</span>
+              <span className="text-right">Net worth</span>
+              <span className="text-right hidden sm:block">Cash</span>
+              <span className="text-right hidden sm:block">Trades</span>
+            </div>
+
+            {players.length === 0 && (
+              <p className="text-center py-12 text-slate-500">No players yet.</p>
+            )}
+
+            <div className="divide-y divide-surface-border">
+              {players.map((player, i) => {
+                const rank = i + 1
+                const isMe = session?.user.id === player.id
+                const rankIcon = rank === 1 ? '🥇' : rank === 2 ? '🥈' : rank === 3 ? '🥉' : null
+
+                return (
+                  <div
+                    key={player.id}
+                    className={`grid grid-cols-[2.5rem_1fr_repeat(3,_8rem)] gap-2 items-center px-4 py-3 text-sm ${
+                      isMe ? 'bg-indigo-500/5' : 'hover:bg-surface-hover'
+                    } transition-colors`}
+                  >
+                    <span className={`font-bold ${rank <= 3 ? 'text-amber-400' : 'text-slate-500'}`}>
+                      {rankIcon ?? `#${rank}`}
+                    </span>
+                    <Link
+                      href={`/profile/${player.username}`}
+                      className={`font-medium hover:text-indigo-300 transition-colors ${isMe ? 'text-indigo-300' : ''}`}
+                    >
+                      {player.displayUsername ?? player.username}
+                      {isMe && <span className="ml-2 text-xs text-slate-500">(you)</span>}
+                    </Link>
+                    <span className="text-right font-bold">{formatCurrency(player.netWorth)}</span>
+                    <span className="text-right text-slate-400 hidden sm:block">
+                      {formatCurrency(player.balance)}
+                    </span>
+                    <span className="text-right text-slate-400 hidden sm:block">
+                      {player.tradeCount}
+                    </span>
+                  </div>
+                )
+              })}
+            </div>
+          </div>
+
+          {/* Unrealized P&L podium */}
+          {players.slice(0, 3).some((p) => p.unrealizedPnl !== 0) && (
+            <section>
+              <h2 className="text-sm font-semibold text-slate-400 mb-3 flex items-center gap-2">
+                <TrendingUp className="h-4 w-4" />
+                Top unrealized gainers (from open positions)
+              </h2>
+              <div className="grid grid-cols-3 gap-3">
+                {players
+                  .slice()
+                  .sort((a, b) => b.unrealizedPnl - a.unrealizedPnl)
+                  .slice(0, 3)
+                  .map((p) => (
+                    <div key={p.id} className="bg-surface-card border border-surface-border rounded-xl p-3 text-center">
+                      <Link href={`/profile/${p.username}`} className="font-medium text-sm hover:text-indigo-300">
+                        {p.displayUsername ?? p.username}
+                      </Link>
+                      <p className={`text-sm font-bold mt-1 ${p.unrealizedPnl >= 0 ? 'text-emerald-400' : 'text-red-400'}`}>
+                        {p.unrealizedPnl >= 0 ? (
+                          <span className="flex items-center justify-center gap-1">
+                            <TrendingUp className="h-3 w-3" />
+                            +{formatCurrency(p.unrealizedPnl)}
+                          </span>
+                        ) : (
+                          <span className="flex items-center justify-center gap-1">
+                            <TrendingDown className="h-3 w-3" />
+                            {formatCurrency(p.unrealizedPnl)}
+                          </span>
+                        )}
+                      </p>
+                    </div>
+                  ))}
+              </div>
+            </section>
+          )}
+        </>
       )}
 
-      <div className="bg-surface-card border border-surface-border rounded-xl overflow-hidden">
-        {/* Header */}
-        <div className="grid grid-cols-[2.5rem_1fr_repeat(3,_8rem)] gap-2 px-4 py-2 text-xs text-slate-500 border-b border-surface-border">
-          <span>#</span>
-          <span>Player</span>
-          <span className="text-right">Net worth</span>
-          <span className="text-right hidden sm:block">Cash</span>
-          <span className="text-right hidden sm:block">Trades</span>
-        </div>
-
-        {players.length === 0 && (
-          <p className="text-center py-12 text-slate-500">No players yet.</p>
-        )}
-
-        <div className="divide-y divide-surface-border">
-          {players.map((player, i) => {
-            const rank = i + 1
-            const isMe = session?.user.id === player.id
-            const rankIcon =
-              rank === 1 ? '🥇' : rank === 2 ? '🥈' : rank === 3 ? '🥉' : null
-
-            return (
-              <div
-                key={player.id}
-                className={`grid grid-cols-[2.5rem_1fr_repeat(3,_8rem)] gap-2 items-center px-4 py-3 text-sm ${
-                  isMe ? 'bg-indigo-500/5' : 'hover:bg-surface-hover'
-                } transition-colors`}
-              >
-                <span className={`font-bold ${rank <= 3 ? 'text-amber-400' : 'text-slate-500'}`}>
-                  {rankIcon ?? `#${rank}`}
-                </span>
-                <Link
-                  href={`/profile/${player.username}`}
-                  className={`font-medium hover:text-indigo-300 transition-colors ${isMe ? 'text-indigo-300' : ''}`}
-                >
-                  {player.displayUsername ?? player.username}
-                  {isMe && <span className="ml-2 text-xs text-slate-500">(you)</span>}
-                </Link>
-                <span className="text-right font-bold">{formatCurrency(player.netWorth)}</span>
-                <span className="text-right text-slate-400 hidden sm:block">
-                  {formatCurrency(player.balance)}
-                </span>
-                <span className="text-right text-slate-400 hidden sm:block">
-                  {player.tradeCount}
-                </span>
-              </div>
-            )
-          })}
-        </div>
-      </div>
-
-      {/* Unrealized P&L podium */}
-      {players.slice(0, 3).some((p) => p.unrealizedPnl !== 0) && (
-        <section>
-          <h2 className="text-sm font-semibold text-slate-400 mb-3 flex items-center gap-2">
-            <TrendingUp className="h-4 w-4" />
-            Top unrealized gainers (from open positions)
-          </h2>
-          <div className="grid grid-cols-3 gap-3">
-            {players
-              .slice()
-              .sort((a, b) => b.unrealizedPnl - a.unrealizedPnl)
-              .slice(0, 3)
-              .map((p) => (
-                <div key={p.id} className="bg-surface-card border border-surface-border rounded-xl p-3 text-center">
-                  <Link href={`/profile/${p.username}`} className="font-medium text-sm hover:text-indigo-300">
-                    {p.displayUsername ?? p.username}
-                  </Link>
-                  <p className={`text-sm font-bold mt-1 ${p.unrealizedPnl >= 0 ? 'text-emerald-400' : 'text-red-400'}`}>
-                    {p.unrealizedPnl >= 0 ? (
-                      <span className="flex items-center justify-center gap-1">
-                        <TrendingUp className="h-3 w-3" />
-                        +{formatCurrency(p.unrealizedPnl)}
-                      </span>
-                    ) : (
-                      <span className="flex items-center justify-center gap-1">
-                        <TrendingDown className="h-3 w-3" />
-                        {formatCurrency(p.unrealizedPnl)}
-                      </span>
-                    )}
-                  </p>
-                </div>
-              ))}
+      {tab === 'funds' && (
+        <div className="bg-surface-card border border-surface-border rounded-xl overflow-hidden">
+          <div className="grid grid-cols-[2.5rem_1fr_repeat(3,_7rem)] gap-2 px-4 py-2 text-xs text-slate-500 border-b border-surface-border">
+            <span>#</span>
+            <span>Fund</span>
+            <span className="text-right">Total value</span>
+            <span className="text-right hidden sm:block">NAV/share</span>
+            <span className="text-right hidden sm:block">Investors</span>
           </div>
-        </section>
+
+          {funds.length === 0 && (
+            <p className="text-center py-12 text-slate-500">No funds yet.</p>
+          )}
+
+          <div className="divide-y divide-surface-border">
+            {funds.map((fund, i) => {
+              const rank = i + 1
+              const rankIcon = rank === 1 ? '🥇' : rank === 2 ? '🥈' : rank === 3 ? '🥉' : null
+
+              return (
+                <div
+                  key={fund.id}
+                  className="grid grid-cols-[2.5rem_1fr_repeat(3,_7rem)] gap-2 items-center px-4 py-3 text-sm hover:bg-surface-hover transition-colors"
+                >
+                  <span className={`font-bold ${rank <= 3 ? 'text-amber-400' : 'text-slate-500'}`}>
+                    {rankIcon ?? `#${rank}`}
+                  </span>
+                  <Link
+                    href={`/fund/${fund.slug}`}
+                    className="font-medium hover:text-indigo-300 transition-colors flex items-center gap-2"
+                  >
+                    <Building2 className="h-3.5 w-3.5 text-indigo-400 shrink-0" />
+                    {fund.name}
+                  </Link>
+                  <span className="text-right font-bold">{formatCurrency(fund.totalValue)}</span>
+                  <span className="text-right text-slate-400 hidden sm:block">
+                    {formatCurrency(fund.nav)}
+                  </span>
+                  <span className="text-right text-slate-400 hidden sm:block">
+                    {fund.investorCount}
+                  </span>
+                </div>
+              )
+            })}
+          </div>
+        </div>
       )}
     </div>
   )
 }
+

src/app/lottery/page.tsx

@@ -1,12 +1,11 @@
 'use client'
 
 import { useEffect, useState } from 'react'
-import { Loader2, Ticket, CheckCircle2 } from 'lucide-react'
+import { Loader2, Dices, CheckCircle2 } from 'lucide-react'
 import { formatCurrency } from '@/lib/utils'
 import { useSession } from 'next-auth/react'
 import Link from 'next/link'
-
-const GRID_SIZE = 25
+import { GRID_SIZE, PRIZE_MAP } from '@/lib/lottery'
 
 type PickResult = {
   box: number
@@ -66,7 +65,7 @@ export default function LotteryPage() {
   if (!session) {
     return (
       <div className="max-w-xl mx-auto text-center py-20">
-        <Ticket className="h-12 w-12 text-indigo-400 mx-auto mb-4" />
+        <Dices className="h-12 w-12 text-indigo-400 mx-auto mb-4" />
         <p className="text-slate-400 mb-4">Sign in to play the Lucky Dip.</p>
         <Link
           href="/auth/signin"
@@ -86,17 +85,30 @@ export default function LotteryPage() {
     )
   }
 
-  const prizeLabels: Record<number, string> = {
-    200: '🏆 $200',
-    50: '🥈 $50',
-    10: '🎁 $10',
-  }
+  const PRIZE_EMOJIS = ['🏆', '🥈', '🎁', '✨', '⭐']
+  const uniquePrizes = [...new Set(Object.values(PRIZE_MAP))].filter(v => v > 0).sort((a, b) => b - a)
+  const prizeCounts = uniquePrizes.reduce<Record<number, number>>((acc, amt) => {
+    acc[amt] = Object.values(PRIZE_MAP).filter(v => v === amt).length
+    return acc
+  }, {})
+  const prizeBoxCount = Object.values(PRIZE_MAP).filter(v => v > 0).length
+  const emptyBoxCount = GRID_SIZE - prizeBoxCount
+  const TIER_COLORS = [
+    { bg: 'bg-amber-500/10', border: 'border-amber-500/20', text: 'text-amber-400' },
+    { bg: 'bg-slate-500/10', border: 'border-slate-500/20', text: 'text-slate-300' },
+    { bg: 'bg-emerald-500/10', border: 'border-emerald-500/20', text: 'text-emerald-400' },
+    { bg: 'bg-indigo-500/10', border: 'border-indigo-500/20', text: 'text-indigo-400' },
+    { bg: 'bg-pink-500/10', border: 'border-pink-500/20', text: 'text-pink-400' },
+  ]
+  const prizeLabels: Record<number, string> = Object.fromEntries(
+    uniquePrizes.map((amt, i) => [amt, `${PRIZE_EMOJIS[i] ?? '🎁'} ${formatCurrency(amt)}`])
+  )
 
   return (
     <div className="max-w-xl mx-auto space-y-8">
       <div className="text-center">
         <div className="flex items-center justify-center gap-2 mb-2">
-          <Ticket className="h-7 w-7 text-indigo-400" />
+          <Dices className="h-7 w-7 text-indigo-400" />
           <h1 className="text-2xl font-bold">Lucky Dip</h1>
         </div>
         <p className="text-slate-400 text-sm">
@@ -107,21 +119,22 @@ export default function LotteryPage() {
       {/* Prize table */}
       <div className="bg-surface-card border border-surface-border rounded-xl p-4">
         <p className="text-xs text-slate-500 mb-3 font-medium uppercase tracking-wider">Prize pool</p>
-        <div className="grid grid-cols-3 gap-2 text-sm text-center">
-          <div className="bg-amber-500/10 border border-amber-500/20 rounded-lg p-2">
-            <p className="font-bold text-amber-400">$200</p>
-            <p className="text-xs text-slate-500">×1 box</p>
-          </div>
-          <div className="bg-slate-500/10 border border-slate-500/20 rounded-lg p-2">
-            <p className="font-bold text-slate-300">$50</p>
-            <p className="text-xs text-slate-500">×2 boxes</p>
-          </div>
-          <div className="bg-emerald-500/10 border border-emerald-500/20 rounded-lg p-2">
-            <p className="font-bold text-emerald-400">$10</p>
-            <p className="text-xs text-slate-500">×3 boxes</p>
-          </div>
+        <div
+          className="grid gap-2 text-sm text-center"
+          style={{ gridTemplateColumns: `repeat(${uniquePrizes.length}, 1fr)` }}
+        >
+          {uniquePrizes.map((amt, i) => {
+            const color = TIER_COLORS[i] ?? TIER_COLORS[TIER_COLORS.length - 1]
+            const count = prizeCounts[amt]
+            return (
+              <div key={amt} className={`${color.bg} border ${color.border} rounded-lg p-2`}>
+                <p className={`font-bold ${color.text}`}>{formatCurrency(amt)}</p>
+                <p className="text-xs text-slate-500">×{count} box{count !== 1 ? 'es' : ''}</p>
+              </div>
+            )
+          })}
         </div>
-        <p className="text-xs text-slate-600 mt-2 text-center">Remaining 19 boxes: $0</p>
+        <p className="text-xs text-slate-600 mt-2 text-center">All remaining {emptyBoxCount} boxes: $0</p>
       </div>
 
       {/* Result banner */}

src/app/page.tsx

@@ -2,15 +2,21 @@ import { prisma } from '@/lib/prisma'
 import { getServerSession } from 'next-auth'
 import { authOptions } from '@/lib/auth'
 import { HashtagCard } from '@/components/HashtagCard'
-import { TrendingUp, Users, Hash } from 'lucide-react'
+import { TrendingUp, Users, Hash, AlertTriangle } from 'lucide-react'
 import Link from 'next/link'
+import { formatPnl, pnlColor } from '@/lib/utils'
+import { formatDistanceToNow } from 'date-fns'
+import { AutoRefresh } from '@/components/AutoRefresh'
+
+const ZOMBIE_ZERO_COUNT = parseInt(process.env.ZOMBIE_ZERO_COUNT ?? '1000', 10)
+const PRICE_UPDATE_INTERVAL_MINUTES = parseInt(process.env.PRICE_UPDATE_INTERVAL_MINUTES ?? '60', 10)
 
 export const dynamic = 'force-dynamic'
 export const revalidate = 0
 
 async function getStats() {
   const [userCount, hashtagCount, tradeCount, topHashtags, recentTrades] = await Promise.all([
-    prisma.user.count(),
+    prisma.user.count({ where: { isFund: false, isHidden: false } }),
     prisma.hashtag.count({ where: { isActive: true } }),
     prisma.trade.count(),
     // Top by current price (most active)
@@ -27,6 +33,7 @@ async function getStats() {
     }),
     // Recently traded
     prisma.trade.findMany({
+      where: { hashtagId: { not: null } },
       orderBy: { createdAt: 'desc' },
       take: 8,
       include: { hashtag: true },
@@ -37,13 +44,57 @@ async function getStats() {
   return { userCount, hashtagCount, tradeCount, topHashtags, recentTrades }
 }
 
+async function getHoldings(userId: string) {
+  const positions = await prisma.position.findMany({
+    where: { userId, shares: { gt: 0 } },
+    include: { hashtag: { select: { tag: true, displayTag: true, currentPrice: true } } },
+  })
+  if (positions.length === 0) return null
+  const withPnl = positions.map((p) => ({
+    ...p,
+    pnl:
+      p.positionType === 'LONG'
+        ? (p.hashtag.currentPrice - p.avgBuyPrice) * p.shares
+        : (p.avgBuyPrice - p.hashtag.currentPrice) * p.shares,
+  }))
+  const sorted = [...withPnl].sort((a, b) => b.pnl - a.pnl)
+  return {
+    biggestGain: sorted[0].pnl > 0 ? sorted[0] : null,
+    biggestLoss: sorted[sorted.length - 1].pnl < 0 ? sorted[sorted.length - 1] : null,
+  }
+}
+
+async function getZombieWarnings(userId: string) {
+  const threshold = Math.floor(ZOMBIE_ZERO_COUNT * 0.9)
+  const positions = await prisma.position.findMany({
+    where: { userId, shares: { gt: 0 }, hashtag: { zeroCount: { gte: threshold } } },
+    select: { hashtag: { select: { tag: true, displayTag: true, zeroCount: true } } },
+  })
+  return positions.map((p) => ({
+    tag: p.hashtag.tag,
+    displayTag: p.hashtag.displayTag,
+    zombieSince: formatDistanceToNow(
+      new Date(Date.now() - p.hashtag.zeroCount * PRICE_UPDATE_INTERVAL_MINUTES * 60 * 1000),
+    ),
+    zombieEta: formatDistanceToNow(
+      new Date(Date.now() + (ZOMBIE_ZERO_COUNT - p.hashtag.zeroCount) * PRICE_UPDATE_INTERVAL_MINUTES * 60 * 1000),
+      { addSuffix: true },
+    ),
+  }))
+}
+
 export default async function HomePage() {
-  const [session, { userCount, hashtagCount, tradeCount, topHashtags, recentTrades }] =
-    await Promise.all([getServerSession(authOptions), getStats()])
+  const session = await getServerSession(authOptions)
+  const [{ userCount, hashtagCount, tradeCount, topHashtags, recentTrades }, holdings, zombieWarnings] =
+    await Promise.all([
+      getStats(),
+      session ? getHoldings(session.user.id) : Promise.resolve(null),
+      session ? getZombieWarnings(session.user.id) : Promise.resolve([]),
+    ])
 
   return (
     <div className="space-y-10">
-      {/* Hero */}
+      <AutoRefresh intervalMs={30_000} />
       <div className="text-center py-8">
         <h1 className="text-4xl font-bold tracking-tight mb-3">
           The{' '}
@@ -53,6 +104,9 @@ export default async function HomePage() {
           Trade hashtags like stocks. Prices are driven by real-time activity on Mastodon.
           Research a tag to unlock it, then buy long or short.
         </p>
+        <Link href="/about" className="inline-block mt-2 text-sm text-indigo-400 hover:text-indigo-300 underline underline-offset-2 whitespace-nowrap">
+          Learn more →
+        </Link>
         <div className="flex justify-center gap-4 mt-6">
           {session ? (
             <>
@@ -95,12 +149,88 @@ export default async function HomePage() {
         <StatCard icon={<TrendingUp className="h-5 w-5 text-indigo-400" />} label="Trades executed" value={tradeCount.toLocaleString()} />
       </div>
 
+      {/* Zombie / at-risk position warnings */}
+      {zombieWarnings.length > 0 && (
+        <section className="bg-amber-500/5 border border-amber-500/20 rounded-xl p-5">
+          <h2 className="font-semibold mb-1 flex items-center gap-2 text-amber-400">
+            <AlertTriangle className="h-4 w-4" />
+            At-risk positions
+          </h2>
+          <p className="text-sm text-slate-400 mb-4">
+            The following hashtags have had no activity for an extended period and may be auto-liquidated soon.
+            Consider closing these positions manually.
+          </p>
+          <div className="flex flex-wrap gap-2">
+            {zombieWarnings.map((w) => (
+              <Link
+                key={w.tag}
+                href={`/hashtag/${w.tag}`}
+                title={`No activity for ${w.zombieSince}. Estimated liquidation ${w.zombieEta}.`}
+                className="inline-flex items-center gap-1.5 text-xs bg-amber-500/10 border border-amber-500/20 hover:border-amber-400/50 text-amber-300 hover:text-amber-200 px-3 py-1.5 rounded-full transition-colors"
+              >
+                <AlertTriangle className="h-3 w-3" />
+                #{w.displayTag}
+                <span className="text-amber-500/70">· liquidates {w.zombieEta}</span>
+              </Link>
+            ))}
+          </div>
+        </section>
+      )}
+
+      {/* Holdings summary — biggest gain + biggest loss for signed-in users */}
+      {holdings && (holdings.biggestGain ?? holdings.biggestLoss) && (
+        <section>
+          <h2 className="text-lg font-semibold mb-4 flex items-center gap-2">
+            <TrendingUp className="h-5 w-5 text-indigo-400" />
+            Your top positions
+            <Link
+              href="/positions"
+              className="ml-auto text-sm font-normal text-indigo-400 hover:text-indigo-300"
+            >
+              View all →
+            </Link>
+          </h2>
+          <div className="grid grid-cols-1 sm:grid-cols-2 gap-4">
+            {holdings.biggestGain && (
+              <Link
+                href={`/hashtag/${holdings.biggestGain.hashtag.tag}`}
+                className="bg-surface-card border border-surface-border rounded-xl p-4 hover:border-indigo-500/50 transition-colors"
+              >
+                <p className="text-xs text-slate-500 mb-1">Biggest gain</p>
+                <p className="font-semibold">#{holdings.biggestGain.hashtag.displayTag}</p>
+                <p className={`text-sm font-medium mt-1 ${pnlColor(holdings.biggestGain.pnl)}`}>
+                  {formatPnl(holdings.biggestGain.pnl)}
+                </p>
+              </Link>
+            )}
+            {holdings.biggestLoss && (
+              <Link
+                href={`/hashtag/${holdings.biggestLoss.hashtag.tag}`}
+                className="bg-surface-card border border-surface-border rounded-xl p-4 hover:border-indigo-500/50 transition-colors"
+              >
+                <p className="text-xs text-slate-500 mb-1">Biggest loss</p>
+                <p className="font-semibold">#{holdings.biggestLoss.hashtag.displayTag}</p>
+                <p className={`text-sm font-medium mt-1 ${pnlColor(holdings.biggestLoss.pnl)}`}>
+                  {formatPnl(holdings.biggestLoss.pnl)}
+                </p>
+              </Link>
+            )}
+          </div>
+        </section>
+      )}
+
       {/* Top hashtags */}
       {topHashtags.length > 0 && (
         <section>
           <h2 className="text-lg font-semibold mb-4 flex items-center gap-2">
             <TrendingUp className="h-5 w-5 text-indigo-400" />
             Trending now
+            <Link
+              href="/stocks"
+              className="ml-auto text-sm font-normal text-indigo-400 hover:text-indigo-300"
+            >
+              Full market →
+            </Link>
           </h2>
           <div className="grid grid-cols-2 sm:grid-cols-3 lg:grid-cols-4 gap-3">
             {topHashtags.map((h) => {
@@ -122,9 +252,17 @@ export default async function HomePage() {
       {/* Recently traded */}
       {recentTrades.length > 0 && (
         <section>
-          <h2 className="text-lg font-semibold mb-4">Recently traded</h2>
+          <h2 className="text-lg font-semibold mb-4 flex items-center gap-2">
+            Recently traded
+            <Link
+              href="/trades"
+              className="ml-auto text-sm font-normal text-indigo-400 hover:text-indigo-300"
+            >
+              Full feed →
+            </Link>
+          </h2>
           <div className="grid grid-cols-2 sm:grid-cols-3 lg:grid-cols-4 gap-3">
-            {recentTrades.map(({ hashtag }) => (
+            {recentTrades.map(({ hashtag }) => hashtag && (
               <HashtagCard
                 key={hashtag.id}
                 tag={hashtag.tag}

src/app/positions/page.tsx

@@ -0,0 +1,290 @@
+import { prisma } from '@/lib/prisma'
+import { getServerSession } from 'next-auth'
+import { authOptions } from '@/lib/auth'
+import { redirect } from 'next/navigation'
+import { formatCurrency, formatNumber, formatPnl, pnlColor } from '@/lib/utils'
+import { calcFundNav } from '@/lib/pricing'
+import Link from 'next/link'
+import { Coins, ChevronUp, ChevronDown, ChevronsUpDown } from 'lucide-react'
+import { AutoRefresh } from '@/components/AutoRefresh'
+
+export const dynamic = 'force-dynamic'
+
+function Sparkline({ prices }: { prices: number[] }) {
+  if (prices.length < 2) return <span className="text-slate-600 text-xs">—</span>
+  const min = Math.min(...prices)
+  const max = Math.max(...prices)
+  const range = max - min || 1
+  const w = 80
+  const h = 28
+  const pts = prices
+    .map((p, i) => {
+      const x = (i / (prices.length - 1)) * w
+      const y = h - ((p - min) / range) * (h - 4) - 2
+      return `${x},${y}`
+    })
+    .join(' ')
+  const up = prices[prices.length - 1] >= prices[0]
+  return (
+    <svg width={w} height={h} style={{ overflow: 'visible' }}>
+      <polyline
+        points={pts}
+        fill="none"
+        stroke={up ? '#34d399' : '#f87171'}
+        strokeWidth="1.5"
+        strokeLinecap="round"
+        strokeLinejoin="round"
+      />
+    </svg>
+  )
+}
+
+type SortKey = 'hashtag' | 'shares' | 'avgBuy' | 'current' | 'costBasis' | 'value' | 'pnl'
+type SortDir = 'asc' | 'desc'
+
+function SortHeader({
+  col,
+  label,
+  currentSort,
+  currentDir,
+  right = false,
+  className,
+}: {
+  col: SortKey
+  label: string
+  currentSort: SortKey
+  currentDir: SortDir
+  right?: boolean
+  className?: string
+}) {
+  const isActive = currentSort === col
+  const nextDir = isActive && currentDir === 'desc' ? 'asc' : 'desc'
+  const Icon = isActive ? (currentDir === 'desc' ? ChevronDown : ChevronUp) : ChevronsUpDown
+  return (
+    <Link
+      href={`?sort=${col}&dir=${nextDir}`}
+      className={`flex items-center gap-1 text-xs uppercase tracking-wider hover:text-slate-300 transition-colors ${isActive ? 'text-indigo-400' : 'text-slate-500'} ${right ? 'justify-end' : ''} ${className ?? ''}`}
+    >
+      <span>{label}</span>
+      <Icon className={`h-3 w-3 shrink-0${isActive ? '' : ' opacity-40'}`} />
+    </Link>
+  )
+}
+
+export default async function PositionsPage({
+  searchParams,
+}: {
+  searchParams: { sort?: string; dir?: string }
+}) {
+  const session = await getServerSession(authOptions)
+  if (!session) redirect('/auth/signin')
+
+  const rawPositions = await prisma.position.findMany({
+    where: { userId: session.user.id, shares: { gt: 0 } },
+    include: {
+      hashtag: {
+        select: {
+          tag: true,
+          displayTag: true,
+          currentPrice: true,
+          priceHistory: {
+            orderBy: { recordedAt: 'desc' },
+            take: 20,
+            select: { price: true },
+          },
+        },
+      },
+    },
+  })
+
+  const rawFundInvestments = await prisma.fundInvestment.findMany({
+    where: { userId: session.user.id, shares: { gt: 0 } },
+    include: {
+      fund: {
+        select: {
+          name: true,
+          slug: true,
+          sharesOutstanding: true,
+          user: {
+            select: {
+              balance: true,
+              positions: {
+                where: { shares: { gt: 0 } },
+                select: {
+                  shares: true,
+                  avgBuyPrice: true,
+                  positionType: true,
+                  hashtag: { select: { currentPrice: true } },
+                },
+              },
+            },
+          },
+        },
+      },
+    },
+  })
+
+  const fundHoldings = rawFundInvestments.map((inv) => {
+    const fundPortfolioValue = inv.fund.user.positions.reduce((sum, p) => {
+      const val = p.positionType === 'LONG'
+        ? p.shares * p.hashtag.currentPrice
+        : (2 * p.avgBuyPrice - p.hashtag.currentPrice) * p.shares
+      return sum + val
+    }, 0)
+    const fundTotalValue = inv.fund.user.balance + fundPortfolioValue
+    const nav = calcFundNav(fundTotalValue, inv.fund.sharesOutstanding)
+    const currentValue = inv.shares * nav
+    const costBasis = inv.shares * inv.avgNavAtBuy
+    const pnl = currentValue - costBasis
+    const pnlPct = costBasis > 0 ? (pnl / costBasis) * 100 : 0
+    return { ...inv, nav, currentValue, costBasis, pnl, pnlPct }
+  })
+
+  const positions = rawPositions.map((pos) => {
+    const pnl =
+      pos.positionType === 'LONG'
+        ? (pos.hashtag.currentPrice - pos.avgBuyPrice) * pos.shares
+        : (pos.avgBuyPrice - pos.hashtag.currentPrice) * pos.shares
+    const costBasis = pos.avgBuyPrice * pos.shares
+    const currentValue = pos.hashtag.currentPrice * pos.shares
+    const pnlPct = costBasis > 0 ? (pnl / costBasis) * 100 : 0
+    const sparkPrices = pos.hashtag.priceHistory.slice().reverse().map((h) => h.price)
+    return { ...pos, pnl, costBasis, currentValue, pnlPct, sparkPrices }
+  })
+
+  const validSorts = new Set<string>(['hashtag', 'shares', 'avgBuy', 'current', 'costBasis', 'value', 'pnl'])
+  const sortKey: SortKey = validSorts.has(searchParams.sort ?? '') ? (searchParams.sort as SortKey) : 'pnl'
+  const sortDir: SortDir = searchParams.dir === 'asc' ? 'asc' : 'desc'
+
+  positions.sort((a, b) => {
+    let av: number | string
+    let bv: number | string
+    switch (sortKey) {
+      case 'hashtag': av = a.hashtag.displayTag.toLowerCase(); bv = b.hashtag.displayTag.toLowerCase(); break
+      case 'shares': av = a.shares; bv = b.shares; break
+      case 'avgBuy': av = a.avgBuyPrice; bv = b.avgBuyPrice; break
+      case 'current': av = a.hashtag.currentPrice; bv = b.hashtag.currentPrice; break
+      case 'costBasis': av = a.costBasis; bv = b.costBasis; break
+      case 'value': av = a.currentValue; bv = b.currentValue; break
+      default: av = a.pnl; bv = b.pnl; break
+    }
+    if (av < bv) return sortDir === 'asc' ? -1 : 1
+    if (av > bv) return sortDir === 'asc' ? 1 : -1
+    return 0
+  })
+
+  return (
+    <div className="max-w-4xl mx-auto space-y-6">
+      <AutoRefresh intervalMs={30_000} />
+      <div className="flex items-center gap-3">
+        <Coins className="h-6 w-6 text-indigo-400" />
+        <h1 className="text-2xl font-bold">Open Positions</h1>
+      </div>
+
+      {positions.length === 0 && fundHoldings.length === 0 ? (
+        <div className="text-center py-16 text-slate-500">
+          <Coins className="h-12 w-12 mx-auto mb-3 opacity-30" />
+          <p>You have no open positions.</p>
+          <Link href="/" className="text-indigo-400 hover:text-indigo-300 text-sm mt-2 inline-block">
+            Browse trending hashtags →
+          </Link>
+        </div>
+      ) : (
+        <div className="bg-surface-card border border-surface-border rounded-xl overflow-hidden">
+          {/* Header row */}
+          <div className="grid grid-cols-[1fr_5rem_6rem] sm:grid-cols-[1fr_4rem_5rem_5rem_6rem_5rem_6rem] gap-4 px-4 py-2 border-b border-surface-border">
+            <SortHeader col="hashtag" label="Hashtag" currentSort={sortKey} currentDir={sortDir} />
+            <SortHeader col="shares" label="Shares" currentSort={sortKey} currentDir={sortDir} right />
+            <SortHeader col="avgBuy" label="Avg buy" currentSort={sortKey} currentDir={sortDir} right className="hidden sm:flex" />
+            <SortHeader col="current" label="Current" currentSort={sortKey} currentDir={sortDir} right className="hidden sm:flex" />
+            <SortHeader col="costBasis" label="Cost basis" currentSort={sortKey} currentDir={sortDir} right className="hidden sm:flex" />
+            <SortHeader col="value" label="Value" currentSort={sortKey} currentDir={sortDir} right className="hidden sm:flex" />
+            <SortHeader col="pnl" label="P&L" currentSort={sortKey} currentDir={sortDir} right />
+          </div>
+
+          <div className="divide-y divide-surface-border">
+            {positions.map((pos) => (
+              <div
+                key={pos.id}
+                className="grid grid-cols-[1fr_5rem_6rem] sm:grid-cols-[1fr_4rem_5rem_5rem_6rem_5rem_6rem] gap-4 items-center px-4 py-3"
+              >
+                {/* Hashtag + type badge (+ sparkline on desktop) */}
+                <div className="flex items-center gap-3 min-w-0">
+                  <div className="hidden sm:block shrink-0">
+                    <Sparkline prices={pos.sparkPrices} />
+                  </div>
+                  <div className="min-w-0">
+                    <Link
+                      href={`/hashtag/${pos.hashtag.tag}`}
+                      className="font-medium hover:text-indigo-300 truncate block"
+                    >
+                      #{pos.hashtag.displayTag}
+                    </Link>
+                    <span
+                      className={`text-xs font-medium px-1.5 py-0.5 rounded ${
+                        pos.positionType === 'LONG'
+                          ? 'bg-emerald-500/15 text-emerald-400'
+                          : 'bg-red-500/15 text-red-400'
+                      }`}
+                    >
+                      {pos.positionType}
+                    </span>
+                  </div>
+                </div>
+
+                <span className="text-right text-sm">{formatNumber(pos.shares)}</span>
+                <span className="hidden sm:block text-right text-sm">{formatCurrency(pos.avgBuyPrice)}</span>
+                <span className="hidden sm:block text-right text-sm">{formatCurrency(pos.hashtag.currentPrice)}</span>
+                <span className="hidden sm:block text-right text-sm text-slate-400">{formatCurrency(pos.costBasis)}</span>
+                <span className="hidden sm:block text-right text-sm">{formatCurrency(pos.currentValue)}</span>
+
+                <div className="text-right">
+                  <p className={`text-sm font-medium ${pnlColor(pos.pnl)}`}>{formatPnl(pos.pnl)}</p>
+                  <p className={`text-xs ${pnlColor(pos.pnlPct)}`}>
+                    {pos.pnlPct >= 0 ? '+' : ''}
+                    {pos.pnlPct.toFixed(1)}%
+                  </p>
+                </div>
+              </div>
+            ))}
+          </div>
+        </div>
+      )}
+
+      {fundHoldings.length > 0 && (
+        <div className="bg-surface-card border border-surface-border rounded-xl overflow-hidden">
+          <div className="grid grid-cols-[1fr_5rem_6rem] sm:grid-cols-[1fr_5rem_5rem_6rem_5rem_6rem] gap-4 px-4 py-2 border-b border-surface-border text-xs uppercase tracking-wider text-slate-500">
+            <span>Fund</span>
+            <span className="text-right">Shares</span>
+            <span className="hidden sm:block text-right">Avg NAV</span>
+            <span className="hidden sm:block text-right">Cur NAV</span>
+            <span className="hidden sm:block text-right">Cost basis</span>
+            <span className="hidden sm:block text-right">Value</span>
+            <span className="text-right">P&amp;L</span>
+          </div>
+          <div className="divide-y divide-surface-border">
+            {fundHoldings.map((inv) => (
+              <div key={inv.id} className="grid grid-cols-[1fr_5rem_6rem] sm:grid-cols-[1fr_5rem_5rem_6rem_5rem_6rem] gap-4 items-center px-4 py-3">
+                <div className="min-w-0">
+                  <Link href={`/fund/${inv.fund.slug}`} className="font-medium hover:text-indigo-300 truncate block">
+                    {inv.fund.name}
+                  </Link>
+                  <span className="text-xs font-medium px-1.5 py-0.5 rounded bg-indigo-500/15 text-indigo-400">FUND</span>
+                </div>
+                <span className="text-right text-sm">{formatNumber(inv.shares, 6)}</span>
+                <span className="hidden sm:block text-right text-sm">{formatCurrency(inv.avgNavAtBuy)}</span>
+                <span className="hidden sm:block text-right text-sm">{formatCurrency(inv.nav)}</span>
+                <span className="hidden sm:block text-right text-sm text-slate-400">{formatCurrency(inv.costBasis)}</span>
+                <span className="hidden sm:block text-right text-sm">{formatCurrency(inv.currentValue)}</span>
+                <div className="text-right">
+                  <p className={`text-sm font-medium ${pnlColor(inv.pnl)}`}>{formatPnl(inv.pnl)}</p>
+                  <p className={`text-xs ${pnlColor(inv.pnlPct)}`}>{inv.pnlPct >= 0 ? '+' : ''}{inv.pnlPct.toFixed(1)}%</p>
+                </div>
+              </div>
+            ))}
+          </div>
+        </div>
+      )}
+    </div>
+  )
+}

src/app/profile/[username]/CloseAccountForm.tsx

@@ -0,0 +1,86 @@
+'use client'
+
+import { useState } from 'react'
+import { signOut } from 'next-auth/react'
+import { Trash2 } from 'lucide-react'
+
+interface Props {
+  username: string
+}
+
+export default function CloseAccountForm({ username }: Props) {
+  const [open, setOpen] = useState(false)
+  const [confirm, setConfirm] = useState('')
+  const [loading, setLoading] = useState(false)
+  const [error, setError] = useState('')
+
+  async function handleDelete(e: React.FormEvent) {
+    e.preventDefault()
+    if (confirm !== username) {
+      setError('Username does not match.')
+      return
+    }
+    setLoading(true)
+    setError('')
+    try {
+      const res = await fetch('/api/user/me', { method: 'DELETE' })
+      const data = await res.json()
+      if (!res.ok) {
+        setError(data.error ?? 'Failed to delete account.')
+        return
+      }
+      await signOut({ callbackUrl: '/' })
+    } finally {
+      setLoading(false)
+    }
+  }
+
+  return (
+    <section className="bg-surface-card border border-red-500/20 rounded-xl p-6">
+      <button
+        onClick={() => { setOpen((v) => !v); setError(''); setConfirm('') }}
+        className="flex items-center gap-2 text-sm font-medium text-red-400 hover:text-red-300 transition-colors"
+      >
+        <Trash2 className="h-4 w-4" />
+        Close account
+        <span className="ml-1 text-slate-500">{open ? '▲' : '▼'}</span>
+      </button>
+
+      {open && (
+        <form onSubmit={handleDelete} className="mt-4 space-y-4 max-w-sm">
+          <p className="text-sm text-slate-400">
+            This will <span className="text-red-400 font-medium">permanently delete</span> your account,
+            all trade history, positions, and portfolio data. This cannot be undone.
+          </p>
+          <p className="text-sm text-slate-400">
+            Any fund investments you hold will be forfeited to the fund.
+          </p>
+          <div>
+            <label className="block text-xs text-slate-400 mb-1">
+              Type <span className="text-white font-mono">{username}</span> to confirm
+            </label>
+            <input
+              type="text"
+              value={confirm}
+              onChange={(e) => setConfirm(e.target.value)}
+              placeholder={username}
+              autoComplete="off"
+              className="w-full bg-surface border border-red-500/30 focus:border-red-500 rounded-lg px-3 py-2 text-sm focus:outline-none"
+            />
+          </div>
+
+          {error && <p className="text-red-400 text-sm">{error}</p>}
+
+          <button
+            type="submit"
+            disabled={loading || confirm !== username}
+            className="flex items-center gap-2 bg-red-700 hover:bg-red-600 disabled:opacity-50 disabled:cursor-not-allowed text-white text-sm font-medium px-4 py-2 rounded-lg transition-colors"
+          >
+            <Trash2 className="h-4 w-4" />
+            {loading ? 'Deleting…' : 'Permanently delete my account'}
+          </button>
+        </form>
+      )}
+    </section>
+  )
+}

src/app/profile/[username]/ResetAccountForm.tsx

@@ -0,0 +1,124 @@
+'use client'
+
+import { useState } from 'react'
+import { useRouter } from 'next/navigation'
+import { RefreshCw } from 'lucide-react'
+
+interface Props {
+  username: string
+}
+
+export default function ResetAccountForm({ username }: Props) {
+  const router = useRouter()
+  const [open, setOpen] = useState(false)
+  const [keepHistory, setKeepHistory] = useState(false)
+  const [confirm, setConfirm] = useState('')
+  const [loading, setLoading] = useState(false)
+  const [error, setError] = useState('')
+  const [done, setDone] = useState(false)
+
+  async function handleReset(e: React.FormEvent) {
+    e.preventDefault()
+    if (confirm !== username) {
+      setError('Username does not match.')
+      return
+    }
+    setLoading(true)
+    setError('')
+    try {
+      const res = await fetch('/api/user/me/reset', {
+        method: 'POST',
+        headers: { 'Content-Type': 'application/json' },
+        body: JSON.stringify({ keepHistory }),
+      })
+      const data = await res.json()
+      if (!res.ok) {
+        setError(data.error ?? 'Reset failed.')
+        return
+      }
+      setDone(true)
+      setOpen(false)
+      router.refresh()
+    } finally {
+      setLoading(false)
+    }
+  }
+
+  return (
+    <section id="reset" className="bg-surface-card border border-amber-500/20 rounded-xl p-6">
+      <button
+        onClick={() => { setOpen((v) => !v); setError(''); setConfirm(''); setDone(false) }}
+        className="flex items-center gap-2 text-sm font-medium text-amber-400 hover:text-amber-300 transition-colors"
+      >
+        <RefreshCw className="h-4 w-4" />
+        Reset account
+        {done && <span className="text-emerald-400 text-xs ml-1">✓ Reset</span>}
+        <span className="ml-1 text-slate-500">{open ? '▲' : '▼'}</span>
+      </button>
+
+      {open && (
+        <form onSubmit={handleReset} className="mt-4 space-y-4 max-w-sm">
+          {keepHistory ? (
+            <p className="text-sm text-slate-400">
+              All positions and fund investments are closed. Your trade history is kept
+              and a <span className="text-purple-400 font-medium">DONATION</span> or{' '}
+              <span className="text-red-400 font-medium">BANKRUPTCY</span> entry marks the
+              reset, followed by an{' '}
+              <span className="text-emerald-400 font-medium">ACCOUNT OPEN</span>. Balance
+              resets to <span className="text-white font-medium">$2,000</span>.
+            </p>
+          ) : (
+            <p className="text-sm text-slate-400">
+              This will <span className="text-amber-400 font-medium">permanently erase</span> your entire
+              trade history, all positions, and fund investments, then reset your cash balance back to{' '}
+              <span className="text-white font-medium">$2,000</span>. A true clean slate.
+            </p>
+          )}
+
+          {/* Keep history toggle */}
+          <div className="flex items-center justify-between">
+            <div>
+              <p className="text-sm text-slate-300">Keep trade history</p>
+              <p className="text-xs text-slate-500">Add reset bookmarks instead of erasing</p>
+            </div>
+            <button
+              type="button"
+              onClick={() => setKeepHistory((v) => !v)}
+              className={`relative inline-flex h-6 w-11 items-center rounded-full transition-colors ${
+                keepHistory ? 'bg-amber-500' : 'bg-slate-600'
+              }`}
+            >
+              <span className={`inline-block h-4 w-4 transform rounded-full bg-white transition-transform ${
+                keepHistory ? 'translate-x-6' : 'translate-x-1'
+              }`} />
+            </button>
+          </div>
+          <div>
+            <label className="block text-xs text-slate-400 mb-1">
+              Type <span className="text-white font-mono">{username}</span> to confirm
+            </label>
+            <input
+              type="text"
+              value={confirm}
+              onChange={(e) => setConfirm(e.target.value)}
+              placeholder={username}
+              autoComplete="off"
+              className="w-full bg-surface border border-amber-500/30 focus:border-amber-500 rounded-lg px-3 py-2 text-sm focus:outline-none"
+            />
+          </div>
+
+          {error && <p className="text-red-400 text-sm">{error}</p>}
+
+          <button
+            type="submit"
+            disabled={loading || confirm !== username}
+            className="flex items-center gap-2 bg-amber-700 hover:bg-amber-600 disabled:opacity-50 disabled:cursor-not-allowed text-white text-sm font-medium px-4 py-2 rounded-lg transition-colors"
+          >
+            <RefreshCw className="h-4 w-4" />
+            {loading ? 'Resetting…' : 'Reset my account'}
+          </button>
+        </form>
+      )}
+    </section>
+  )
+}

src/app/profile/[username]/page.tsx

@@ -3,10 +3,17 @@ import { getServerSession } from 'next-auth'
 import { authOptions } from '@/lib/auth'
 import { notFound } from 'next/navigation'
 import { formatCurrency, formatNumber, pnlColor, formatPnl } from '@/lib/utils'
+import { formatDistanceToNow } from 'date-fns'
+import { getBalanceTier } from '@/lib/pricing'
 import Link from 'next/link'
-import { TrendingUp, TrendingDown, Coins } from 'lucide-react'
+import { TrendingUp, TrendingDown, Coins, Building2, AlertTriangle } from 'lucide-react'
 import ChangePasswordForm from './ChangePasswordForm'
 import AccountSettingsForm from './AccountSettingsForm'
+import CloseAccountForm from './CloseAccountForm'
+import ResetAccountForm from './ResetAccountForm'
+import { PriceChart } from '@/components/PriceChart'
+
+import type { Metadata } from 'next'
 
 export const dynamic = 'force-dynamic'
 
@@ -14,6 +21,26 @@ interface Props {
   params: { username: string }
 }
 
+export async function generateMetadata({ params }: Props): Promise<Metadata> {
+  const username = decodeURIComponent(params.username).toLowerCase()
+  const user = await prisma.user.findUnique({
+    where: { username },
+    select: { displayUsername: true, balance: true, _count: { select: { trades: true } } },
+  })
+  const displayName = user?.displayUsername ?? username
+  const title = `${displayName} — HashEx Profile`
+  const description = user
+    ? `Check out ${displayName}'s trading profile on HashEx.`
+    : `HashEx trader profile for @${username}.`
+  const imageUrl = `/api/og/profile/${encodeURIComponent(username)}`
+  return {
+    title,
+    description,
+    openGraph: { title, description, images: [{ url: imageUrl, width: 1200, height: 630, alt: `${displayName}'s profile` }] },
+    twitter: { card: 'summary_large_image', title, description, images: [imageUrl] },
+  }
+}
+
 export default async function ProfilePage({ params }: Props) {
   const session = await getServerSession(authOptions)
   const username = decodeURIComponent(params.username).toLowerCase()
@@ -35,7 +62,16 @@ export default async function ProfilePage({ params }: Props) {
       trades: {
         orderBy: { createdAt: 'desc' },
         take: 30,
-        include: { hashtag: { select: { tag: true, displayTag: true } } },
+        include: {
+          hashtag: { select: { tag: true, displayTag: true } },
+          fund: { select: { name: true, slug: true } },
+        },
+      },
+      managedFunds: {
+        orderBy: { addedAt: 'asc' },
+        select: {
+          fund: { select: { id: true, name: true, slug: true } },
+        },
       },
     },
   })
@@ -64,24 +100,69 @@ export default async function ProfilePage({ params }: Props) {
     .filter((t) => t.type === 'SELL_LONG' || t.type === 'SELL_SHORT')
     .reduce((sum, t) => sum + t.profit, 0)
 
+  const lotteryAggregate = await prisma.trade.aggregate({
+    where: { userId: user.id, type: 'LOTTERY_WIN' },
+    _sum: { profit: true },
+    _count: true,
+  })
+  const lotteryWinnings = lotteryAggregate._sum.profit ?? 0
+  const lotteryCount = lotteryAggregate._count
+
+  const portfolioHistory = await prisma.userPortfolioHistory.findMany({
+    where: {
+      userId: user.id,
+      recordedAt: { gte: new Date(Date.now() - 7 * 24 * 60 * 60 * 1000) },
+    },
+    orderBy: { recordedAt: 'asc' },
+    select: { totalValue: true, recordedAt: true },
+  })
   return (
     <div className="max-w-4xl mx-auto space-y-8">
       {/* Header */}
-      <div className="flex flex-col sm:flex-row items-start sm:items-center justify-between gap-4">
+      <div className="flex flex-col sm:flex-row sm:items-center justify-between gap-4">
         <div>
           <h1 className="text-3xl font-bold">{user.displayUsername ?? user.username}</h1>
           {user.displayUsername && user.displayUsername.toLowerCase() !== user.username && (
             <p className="text-slate-500 text-sm">@{user.username}</p>
           )}
           {isOwn && (
-            <p className="text-slate-400 text-sm mt-1">
-              {user.researchPoints} research point{user.researchPoints !== 1 ? 's' : ''} available
-            </p>
+            <div className="mt-1 text-sm text-slate-400 space-y-0.5">
+              {(() => {
+                const tier = getBalanceTier(user.balance)
+                return (
+                  <>
+                    <p>
+                      <span className="text-slate-300 font-medium">Tier {tier.level}</span>
+                      <span className="text-slate-600 mx-1.5">&middot;</span>
+                      {tier.pointsPerDay} research pt{tier.pointsPerDay !== 1 ? 's' : ''}/day
+                      {tier.nextThreshold && (
+                        <>
+                          <span className="hidden sm:inline text-slate-600 text-xs ml-1.5">
+                            (next tier at {formatCurrency(tier.nextThreshold)})
+                          </span>
+                          <span className="block sm:hidden text-slate-600 text-xs mt-0.5">
+                            next tier at {formatCurrency(tier.nextThreshold)}
+                          </span>
+                        </>
+                      )}
+                    </p>
+                    <p>
+                      {user.researchPoints} research point{user.researchPoints !== 1 ? 's' : ''} available
+                    </p>
+                  </>
+                )
+              })()}
+            </div>
           )}
         </div>
         <div className="text-right">
-          <p className="text-3xl font-bold">{formatCurrency(totalValue)}</p>
+          <p className={`text-3xl font-bold ${totalValue < 0 ? 'text-red-400' : ''}`}>{formatCurrency(totalValue)}</p>
           <p className="text-sm text-slate-400">total portfolio value</p>
+          {lotteryCount > 0 && (
+            <p className="text-xs text-amber-400 mt-1">
+              🎰 {formatCurrency(lotteryWinnings)} from Lucky Dip ({lotteryCount} win{lotteryCount !== 1 ? 's' : ''})
+            </p>
+          )}
         </div>
       </div>
 
@@ -101,15 +182,62 @@ export default async function ProfilePage({ params }: Props) {
         />
       </div>
 
-      {/* Account settings — only shown to the profile owner */}
-      {isOwn && (
-        <>
-          <AccountSettingsForm
-            currentUsername={user.username}
-            currentDisplayUsername={user.displayUsername ?? null}
+      {/* Bankruptcy warning — only shown to profile owner when cash balance is negative */}
+      {isOwn && user.balance < 0 && (
+        <div className="bg-red-500/10 border border-red-500/30 rounded-xl p-4 flex gap-3">
+          <AlertTriangle className="h-5 w-5 text-red-400 shrink-0 mt-0.5" />
+          <div>
+            <p className="text-sm font-medium text-red-400 mb-1">You&apos;re in the red</p>
+            <p className="text-sm text-slate-400">
+              Your cash balance is negative — you won&apos;t be able to buy any positions until it recovers.
+              If you want to start fresh, you can{' '}
+              <a href="#reset" className="text-amber-400 hover:text-amber-300 underline underline-offset-2">reset your account</a>{' '}
+              back to $2,000.
+            </p>
+          </div>
+        </div>
+      )}
+
+      {/* Portfolio value chart */}
+      {portfolioHistory.length > 0 && (
+        <div className="bg-surface-card border border-surface-border rounded-xl p-4">
+          <h2 className="text-sm font-medium text-slate-400 mb-3">Portfolio Value — Last 7 Days</h2>
+          <PriceChart
+            data={portfolioHistory.map((p) => ({ price: p.totalValue, recordedAt: p.recordedAt.toISOString() }))}
+            height={200}
           />
-          <ChangePasswordForm />
-        </>
+        </div>
+      )}
+
+      {/* Funds managed — only shown to the profile owner */}
+      {isOwn && user.managedFunds.length > 0 && (
+        <section>
+          <h2 className="text-lg font-semibold mb-4 flex items-center gap-2">
+            <Building2 className="h-5 w-5 text-indigo-400" />
+            Funds you manage
+          </h2>
+          <div className="bg-surface-card border border-surface-border rounded-xl overflow-hidden">
+            <div className="divide-y divide-surface-border">
+              {user.managedFunds.map(({ fund }) => (
+                <div key={fund.id} className="flex items-center justify-between px-4 py-3">
+                  <Link
+                    href={`/fund/${fund.slug}`}
+                    className="font-medium hover:text-indigo-300 transition-colors flex items-center gap-2"
+                  >
+                    <Building2 className="h-3.5 w-3.5 text-indigo-400 shrink-0" />
+                    {fund.name}
+                  </Link>
+                  <Link
+                    href={`/stocks?fund=${fund.slug}`}
+                    className="text-xs text-indigo-400 hover:text-indigo-300 transition-colors"
+                  >
+                    Trade as this fund →
+                  </Link>
+                </div>
+              ))}
+            </div>
+          </div>
+        </section>
       )}
 
       {/* Positions */}
@@ -118,6 +246,14 @@ export default async function ProfilePage({ params }: Props) {
           <h2 className="text-lg font-semibold mb-4 flex items-center gap-2">
             <Coins className="h-5 w-5 text-indigo-400" />
             Open positions
+            {isOwn && (
+              <Link
+                href="/positions"
+                className="ml-auto text-sm font-normal text-indigo-400 hover:text-indigo-300"
+              >
+                View all →
+              </Link>
+            )}
           </h2>
           <div className="bg-surface-card border border-surface-border rounded-xl overflow-hidden">
             <div className="divide-y divide-surface-border">
@@ -167,42 +303,109 @@ export default async function ProfilePage({ params }: Props) {
               <TrendingDown className="h-5 w-5 text-indigo-400" />
             )}
             Trade history
+            {isOwn && (
+              <Link
+                href="/history"
+                className="ml-auto text-sm font-normal text-indigo-400 hover:text-indigo-300"
+              >
+                View all →
+              </Link>
+            )}
           </h2>
           <div className="bg-surface-card border border-surface-border rounded-xl overflow-hidden">
             <div className="divide-y divide-surface-border">
-              {user.trades.map((t) => (
-                <div key={t.id} className="flex items-center justify-between px-4 py-3 text-sm">
-                  <div className="flex items-center gap-3">
+              {user.trades.map((t) => {
+                const isLottery = t.type === 'LOTTERY_WIN'
+                const isLiquidation = t.type === 'LIQUIDATE_LONG' || t.type === 'LIQUIDATE_SHORT'
+                const isSystemReset = t.type === 'DONATION' || t.type === 'BANKRUPTCY' || t.type === 'ACCOUNT_OPEN'
+                const isFundTrade = t.type === 'FUND_INVEST' || t.type === 'FUND_REDEEM'
+                return (
+                <div key={t.id} className="px-4 py-3 text-sm space-y-1.5">
+                  {/* Primary row: badge · hashtag/label · total */}
+                  <div className="flex items-center gap-2">
                     <span
-                      className={`text-xs font-medium px-2 py-0.5 rounded ${
-                        t.type.startsWith('BUY')
-                          ? 'bg-emerald-500/15 text-emerald-400'
-                          : 'bg-red-500/15 text-red-400'
+                      className={`text-xs font-medium px-2 py-0.5 rounded shrink-0 ${
+                        isLiquidation
+                          ? 'bg-orange-500/15 text-orange-400'
+                          : isLottery
+                            ? 'bg-amber-500/15 text-amber-400'
+                            : t.type === 'DONATION'
+                              ? 'bg-purple-500/15 text-purple-400'
+                              : t.type === 'ACCOUNT_OPEN'
+                                ? 'bg-emerald-500/15 text-emerald-400'
+                                : isFundTrade
+                                  ? 'bg-indigo-500/15 text-indigo-400'
+                                  : t.type.startsWith('BUY')
+                                    ? 'bg-emerald-500/15 text-emerald-400'
+                                    : 'bg-red-500/15 text-red-400'
                       }`}
                     >
-                      {t.type.replace('_', ' ')}
+                      {isLiquidation ? 'LIQUIDATED' : t.type.replace(/_/g, ' ')}
+                    </span>
+                    {isLottery ? (
+                      <span className="text-amber-300 font-medium flex-1 min-w-0">Lucky Dip</span>
+                    ) : isSystemReset ? (
+                      <span className="text-slate-300 font-medium flex-1 min-w-0">
+                        {t.type === 'DONATION'
+                          ? 'Account reset — donated'
+                          : t.type === 'BANKRUPTCY'
+                            ? 'Bankruptcy declared'
+                            : 'Account opened'}
+                      </span>
+                    ) : isFundTrade ? (
+                      t.fund ? (
+                        <Link
+                          href={`/fund/${t.fund.slug}`}
+                          className="text-indigo-300 hover:text-indigo-200 font-medium truncate flex-1 min-w-0"
+                        >
+                          {t.fund.name}
+                        </Link>
+                      ) : (
+                        <span className="text-slate-500 font-medium flex-1 min-w-0">Deleted Fund</span>
+                      )
+                    ) : (
+                      <Link
+                        href={`/hashtag/${t.hashtag!.tag}`}
+                        className="text-indigo-300 hover:text-indigo-200 font-medium truncate flex-1 min-w-0"
+                      >
+                        #{t.hashtag!.displayTag}
+                      </Link>
+                    )}
+                    <span className="shrink-0 font-medium tabular-nums">
+                      {formatCurrency(isLottery ? t.profit : t.total)}
                     </span>
-                    <Link
-                      href={`/hashtag/${t.hashtag.tag}`}
-                      className="hover:text-indigo-300"
-                    >
-                      #{t.hashtag.displayTag}
-                    </Link>
                   </div>
-                  <div className="text-right">
-                    <p>{formatNumber(t.shares)} sh @ {formatCurrency(t.price)}</p>
-                    {(t.type === 'SELL_LONG' || t.type === 'SELL_SHORT') && (
-                      <p className={`text-xs ${pnlColor(t.profit)}`}>
-                        {formatPnl(t.profit)}
-                      </p>
+                  {/* Secondary row: time (left) · shares @ price (right) */}
+                  <div className="flex items-center justify-between text-xs text-slate-500">
+                    <span>{formatDistanceToNow(t.createdAt, { addSuffix: true })}</span>
+                    {!isLottery && !isSystemReset && (
+                      <span className="tabular-nums ml-3">{formatNumber(isFundTrade ? t.shares : t.shares)} sh @ {formatCurrency(t.price)}</span>
                     )}
                   </div>
+                  {/* PnL: sell, liquidation, reset, and fund redeem trades */}
+                  {(t.type === 'SELL_LONG' || t.type === 'SELL_SHORT' || isLiquidation || t.type === 'DONATION' || t.type === 'BANKRUPTCY' || t.type === 'FUND_REDEEM') && (
+                    <div className={`text-xs text-right ${pnlColor(t.profit)}`}>{formatPnl(t.profit)}</div>
+                  )}
                 </div>
-              ))}
+                )
+              })}
             </div>
           </div>
         </section>
       )}
+
+      {/* Account settings — only shown to the profile owner */}
+      {isOwn && (
+        <>
+          <AccountSettingsForm
+            currentUsername={user.username}
+            currentDisplayUsername={user.displayUsername ?? null}
+          />
+          <ChangePasswordForm />
+          <ResetAccountForm username={user.username} />
+          <CloseAccountForm username={user.username} />
+        </>
+      )}
     </div>
   )
 }

src/app/stocks/page.tsx

@@ -0,0 +1,387 @@
+import { prisma } from '@/lib/prisma'
+import { formatCurrency, pnlColor } from '@/lib/utils'
+import Link from 'next/link'
+import { ArrowUp, ArrowDown, ArrowUpDown, BarChart2, Building2 } from 'lucide-react'
+import { AutoRefresh } from '@/components/AutoRefresh'
+import { formatDistanceToNow } from 'date-fns'
+import { calcFundNav } from '@/lib/pricing'
+
+export const dynamic = 'force-dynamic'
+
+const PAGE_SIZE = 25
+
+type SortField = 'price' | 'tag' | 'change' | 'updated'
+type SortDir = 'asc' | 'desc'
+
+interface PageProps {
+  searchParams: { page?: string; sort?: string; dir?: string; tab?: string; fund?: string }
+}
+
+function SortLink({
+  field,
+  label,
+  currentSort,
+  currentDir,
+  page,
+  fund,
+}: {
+  field: SortField
+  label: string
+  currentSort: SortField
+  currentDir: SortDir
+  page: number
+  fund?: string
+}) {
+  const isActive = currentSort === field
+  const nextDir: SortDir = isActive && currentDir === 'desc' ? 'asc' : 'desc'
+  const Icon = isActive ? (currentDir === 'desc' ? ArrowDown : ArrowUp) : ArrowUpDown
+  const fundParam = fund ? `&fund=${encodeURIComponent(fund)}` : ''
+  return (
+    <Link
+      href={`/stocks?page=1&sort=${field}&dir=${nextDir}&tab=stocks${fundParam}`}
+      className={`flex items-center gap-1 hover:text-slate-200 transition-colors select-none ${isActive ? 'text-indigo-400' : 'text-slate-400'}`}
+    >
+      {label}
+      <Icon className="h-3 w-3" />
+    </Link>
+  )
+}
+
+export default async function StocksPage({ searchParams }: PageProps) {
+  const tab = searchParams.tab === 'funds' ? 'funds' : 'stocks'
+  const fund = searchParams.fund ? decodeURIComponent(searchParams.fund) : undefined
+  const fundParam = fund ? `&fund=${encodeURIComponent(fund)}` : ''
+  const page = Math.max(1, parseInt(searchParams.page ?? '1', 10))
+  const sort = (['price', 'tag', 'change', 'updated'].includes(searchParams.sort ?? '')
+    ? searchParams.sort
+    : 'price') as SortField
+  const dir = (searchParams.dir === 'asc' ? 'asc' : 'desc') as SortDir
+
+  // For change sort: fetch all active hashtags with last 2 price points and sort in-memory
+  // For other sorts: use DB-native orderBy + pagination
+  let stocks: {
+    id: string
+    tag: string
+    displayTag: string
+    currentPrice: number
+    lastUpdated: Date
+    previousPrice: number | null
+    postsPerHour: number | null
+    holderCount: number
+  }[]
+  let total: number
+
+  if (sort === 'change') {
+    // Fetch all active hashtags for in-memory sort
+    const all = await prisma.hashtag.findMany({
+      where: { isActive: true },
+      select: {
+        id: true,
+        tag: true,
+        displayTag: true,
+        currentPrice: true,
+        lastUpdated: true,
+        priceHistory: {
+          orderBy: { recordedAt: 'desc' },
+          take: 2,
+          select: { price: true, postsPerHour: true },
+        },
+        _count: { select: { positions: { where: { shares: { gt: 0 } } } } },
+      },
+    })
+
+    const computed = all.map((h) => ({
+      id: h.id,
+      tag: h.tag,
+      displayTag: h.displayTag,
+      currentPrice: h.currentPrice,
+      lastUpdated: h.lastUpdated,
+      previousPrice: h.priceHistory[1]?.price ?? null,
+      postsPerHour: h.priceHistory[0]?.postsPerHour ?? null,
+      holderCount: h._count.positions,
+      changePct:
+        h.priceHistory[1]?.price != null
+          ? ((h.currentPrice - h.priceHistory[1].price) / h.priceHistory[1].price) * 100
+          : 0,
+    }))
+
+    computed.sort((a, b) =>
+      dir === 'desc' ? b.changePct - a.changePct : a.changePct - b.changePct,
+    )
+
+    total = computed.length
+    stocks = computed.slice((page - 1) * PAGE_SIZE, page * PAGE_SIZE)
+  } else {
+    const orderBy =
+      sort === 'price'
+        ? { currentPrice: dir }
+        : sort === 'tag'
+          ? { tag: dir }
+          : { lastUpdated: dir }
+
+    ;[total, stocks] = await Promise.all([
+      prisma.hashtag.count({ where: { isActive: true } }),
+      prisma.hashtag
+        .findMany({
+          where: { isActive: true },
+          orderBy,
+          take: PAGE_SIZE,
+          skip: (page - 1) * PAGE_SIZE,
+          select: {
+            id: true,
+            tag: true,
+            displayTag: true,
+            currentPrice: true,
+            lastUpdated: true,
+            priceHistory: {
+              orderBy: { recordedAt: 'desc' },
+              take: 2,
+              select: { price: true, postsPerHour: true },
+            },
+            _count: { select: { positions: { where: { shares: { gt: 0 } } } } },
+          },
+        })
+        .then((rows) =>
+          rows.map((h) => ({
+            id: h.id,
+            tag: h.tag,
+            displayTag: h.displayTag,
+            currentPrice: h.currentPrice,
+            lastUpdated: h.lastUpdated,
+            previousPrice: h.priceHistory[1]?.price ?? null,
+            postsPerHour: h.priceHistory[0]?.postsPerHour ?? null,
+            holderCount: h._count.positions,
+          })),
+        ),
+    ])
+  }
+
+  const totalPages = Math.max(1, Math.ceil(total / PAGE_SIZE))
+
+  // Funds (always fetched for both tabs — cheap query)
+  const rawFunds = await prisma.hedgeFund.findMany({
+    include: {
+      user: {
+        select: {
+          balance: true,
+          positions: {
+            where: { shares: { gt: 0 } },
+            select: {
+              positionType: true, shares: true, avgBuyPrice: true,
+              hashtag: { select: { currentPrice: true } },
+            },
+          },
+        },
+      },
+      managers: { select: { userId: true } },
+      _count: { select: { investments: true } },
+    },
+    orderBy: { createdAt: 'asc' },
+  })
+
+  const funds = rawFunds.map((f) => {
+    const portfolioValue = f.user.positions.reduce((sum, p) => {
+      const val = p.positionType === 'LONG'
+        ? p.shares * p.hashtag.currentPrice
+        : p.avgBuyPrice * p.shares - (p.hashtag.currentPrice - p.avgBuyPrice) * p.shares
+      return sum + val
+    }, 0)
+    const totalValue = f.user.balance + portfolioValue
+    return {
+      id: f.id, name: f.name, slug: f.slug,
+      cash: f.user.balance, portfolioValue, totalValue,
+      nav: calcFundNav(totalValue, f.sharesOutstanding),
+      managerCount: f.managers.length,
+      investorCount: f._count.investments,
+    }
+  }).sort((a, b) => b.totalValue - a.totalValue)
+
+  return (
+    <div className="max-w-5xl mx-auto space-y-6">
+      <AutoRefresh intervalMs={30_000} />
+      {/* Header */}
+      <div className="flex items-center justify-between">
+        <div className="flex items-center gap-3">
+          <BarChart2 className="h-6 w-6 text-indigo-400" />
+          <h1 className="text-2xl font-bold">Markets</h1>
+        </div>
+      </div>
+
+      {/* Tabs */}
+      <div className="flex gap-1 bg-surface-card border border-surface-border rounded-xl p-1 w-fit">
+        <Link
+          href="/stocks?tab=stocks"
+          className={`flex items-center gap-2 px-4 py-2 rounded-lg text-sm font-medium transition-colors ${
+            tab === 'stocks' ? 'bg-indigo-600 text-white' : 'text-slate-400 hover:text-slate-200'
+          }`}
+        >
+          <BarChart2 className="h-4 w-4" />
+          Hashtags
+          <span className="text-xs bg-white/10 px-1.5 py-0.5 rounded-full">{total}</span>
+        </Link>
+        <Link
+          href="/stocks?tab=funds"
+          className={`flex items-center gap-2 px-4 py-2 rounded-lg text-sm font-medium transition-colors ${
+            tab === 'funds' ? 'bg-indigo-600 text-white' : 'text-slate-400 hover:text-slate-200'
+          }`}
+        >
+          <Building2 className="h-4 w-4" />
+          Hedge Funds
+          <span className="text-xs bg-white/10 px-1.5 py-0.5 rounded-full">{funds.length}</span>
+        </Link>
+      </div>
+
+      {/* Fund mode banner */}
+      {fund && (
+        <div className="flex items-center justify-between gap-3 bg-indigo-500/10 border border-indigo-500/20 rounded-xl px-4 py-3 text-sm">
+          <div className="flex items-center gap-2">
+            <Building2 className="h-4 w-4 text-indigo-400 shrink-0" />
+            <span className="text-indigo-200">Trading as <span className="font-semibold">{fund}</span> — click any hashtag to trade on behalf of this fund</span>
+          </div>
+          <Link href="/stocks" className="text-xs text-slate-400 hover:text-slate-200 shrink-0">Exit fund mode ×</Link>
+        </div>
+      )}
+
+      {tab === 'stocks' && (<>
+      <div className="bg-surface-card border border-surface-border rounded-xl overflow-hidden">
+        {/* Column headers */}
+        <div className="grid grid-cols-[2fr_1fr_1fr] sm:grid-cols-[2fr_1fr_1fr_1fr_1fr] gap-4 px-4 py-2.5 border-b border-surface-border text-xs font-medium">
+          <SortLink field="tag" label="Hashtag" currentSort={sort} currentDir={dir} page={page} fund={fund} />
+          <div className="flex justify-end">
+            <SortLink field="price" label="Price" currentSort={sort} currentDir={dir} page={page} fund={fund} />
+          </div>
+          <div className="flex justify-end">
+            <SortLink field="change" label="Change" currentSort={sort} currentDir={dir} page={page} fund={fund} />
+          </div>
+          <div className="text-right hidden sm:block text-slate-400">Posts/hr</div>
+          <div className="hidden sm:flex justify-end">
+            <SortLink field="updated" label="Updated" currentSort={sort} currentDir={dir} page={page} fund={fund} />
+          </div>
+        </div>
+
+        {stocks.length === 0 ? (
+          <div className="text-center py-16 text-slate-500">No active hashtags yet.</div>
+        ) : (
+          <div className="divide-y divide-surface-border">
+            {stocks.map((stock, i) => {
+              const prev = stock.previousPrice
+              const change = prev != null ? stock.currentPrice - prev : null
+              const changePct = prev != null && prev > 0 ? ((stock.currentPrice - prev) / prev) * 100 : null
+              return (
+                <div
+                  key={stock.id}
+                  className="grid grid-cols-[2fr_1fr_1fr] sm:grid-cols-[2fr_1fr_1fr_1fr_1fr] gap-4 items-center px-4 py-3 hover:bg-surface-border/30 transition-colors"
+                >
+                  {/* Rank + hashtag name */}
+                  <div className="flex items-center gap-3 min-w-0">
+                    <span className="text-slate-600 text-xs w-6 shrink-0 text-right">
+                      {(page - 1) * PAGE_SIZE + i + 1}
+                    </span>
+                    <Link
+                      href={`/hashtag/${stock.tag}${fund ? `?fund=${encodeURIComponent(fund)}` : ''}`}
+                      className="font-medium hover:text-indigo-300 transition-colors truncate"
+                    >
+                      #{stock.displayTag}
+                    </Link>
+                  </div>
+
+                  {/* Price */}
+                  <div className="text-right font-medium tabular-nums">
+                    {formatCurrency(stock.currentPrice)}
+                  </div>
+
+                  {/* Change */}
+                  <div className="text-right tabular-nums">
+                    {change == null ? (
+                      <span className="text-slate-600 text-xs">—</span>
+                    ) : (
+                      <div>
+                        <p className={`text-sm ${pnlColor(change)}`}>
+                          {change > 0 ? '+' : ''}{formatCurrency(change)}
+                        </p>
+                        <p className={`text-xs ${pnlColor(changePct ?? 0)}`}>
+                          {changePct! > 0 ? '+' : ''}{changePct!.toFixed(2)}%
+                        </p>
+                      </div>
+                    )}
+                  </div>
+
+                  {/* Posts/hr */}
+                  <div className="text-right hidden sm:block text-slate-400 text-sm tabular-nums">
+                    {stock.postsPerHour != null ? stock.postsPerHour.toFixed(1) : '—'}
+                  </div>
+
+                  {/* Last updated */}
+                  <div className="text-right text-xs text-slate-500 hidden sm:block">
+                    {formatDistanceToNow(stock.lastUpdated, { addSuffix: true })}
+                  </div>
+                </div>
+              )
+            })}
+          </div>
+        )}
+      </div>
+
+      {/* Pagination */}
+      {totalPages > 1 && (
+        <div className="flex items-center justify-center gap-2">
+          {page > 1 && (
+            <Link
+              href={`/stocks?page=${page - 1}&sort=${sort}&dir=${dir}&tab=stocks${fundParam}`}
+              className="px-3 py-1.5 text-sm bg-surface-card border border-surface-border rounded-lg hover:border-indigo-500/50 transition-colors"
+            >
+              ← Prev
+            </Link>
+          )}
+          <span className="text-slate-500 text-sm">
+            Page {page} of {totalPages}
+          </span>
+          {page < totalPages && (
+            <Link
+              href={`/stocks?page=${page + 1}&sort=${sort}&dir=${dir}&tab=stocks${fundParam}`}
+              className="px-3 py-1.5 text-sm bg-surface-card border border-surface-border rounded-lg hover:border-indigo-500/50 transition-colors"
+            >
+              Next →
+            </Link>
+          )}
+        </div>
+      )}
+      </>)}
+
+      {tab === 'funds' && (
+        <div className="bg-surface-card border border-surface-border rounded-xl overflow-hidden">
+          <div className="grid grid-cols-[1fr_repeat(3,_8rem)] gap-4 px-4 py-2.5 border-b border-surface-border text-xs text-slate-500">
+            <span>Fund</span>
+            <span className="text-right">Total value</span>
+            <span className="text-right hidden sm:block">NAV / share</span>
+            <span className="text-right hidden sm:block">Investors</span>
+          </div>
+          {funds.length === 0 ? (
+            <p className="text-center py-16 text-slate-500">No hedge funds yet.</p>
+          ) : (
+            <div className="divide-y divide-surface-border">
+              {funds.map((fund) => (
+                <div
+                  key={fund.id}
+                  className="grid grid-cols-[1fr_repeat(3,_8rem)] gap-4 items-center px-4 py-3 hover:bg-surface-border/30 transition-colors"
+                >
+                  <Link
+                    href={`/fund/${fund.slug}`}
+                    className="font-medium hover:text-indigo-300 transition-colors flex items-center gap-2"
+                  >
+                    <Building2 className="h-3.5 w-3.5 text-indigo-400 shrink-0" />
+                    {fund.name}
+                    <span className="text-xs text-slate-500">{fund.managerCount} manager{fund.managerCount !== 1 ? 's' : ''}</span>
+                  </Link>
+                  <span className="text-right font-medium tabular-nums">{formatCurrency(fund.totalValue)}</span>
+                  <span className="text-right text-slate-400 text-sm hidden sm:block tabular-nums">{formatCurrency(fund.nav)}</span>
+                  <span className="text-right text-slate-400 text-sm hidden sm:block">{fund.investorCount}</span>
+                </div>
+              ))}
+            </div>
+          )}
+        </div>
+      )}
+    </div>
+  )
+}

src/app/trades/page.tsx

@@ -0,0 +1,142 @@
+import { prisma } from '@/lib/prisma'
+import { formatCurrency, formatNumber, formatPnl, pnlColor } from '@/lib/utils'
+import Link from 'next/link'
+import { Activity } from 'lucide-react'
+import { formatDistanceToNow } from 'date-fns'
+
+export const dynamic = 'force-dynamic'
+
+const PAGE_SIZE = 50
+
+interface PageProps {
+  searchParams: { page?: string }
+}
+
+export default async function GlobalTradesPage({ searchParams }: PageProps) {
+  const page = Math.max(1, parseInt(searchParams.page ?? '1', 10))
+
+  const tradeWhere = {
+    OR: [
+      { hashtagId: { not: null as string | null }, type: { not: 'LOTTERY_WIN' as const } },
+      { type: { in: ['FUND_INVEST', 'FUND_REDEEM'] as ('FUND_INVEST' | 'FUND_REDEEM')[] } },
+    ],
+  }
+
+  const [total, trades] = await Promise.all([
+    prisma.trade.count({ where: tradeWhere }),
+    prisma.trade.findMany({
+      where: {
+        OR: [
+          { hashtagId: { not: null }, type: { not: 'LOTTERY_WIN' as const } },
+          { type: { in: ['FUND_INVEST', 'FUND_REDEEM'] as const } },
+        ],
+      },
+      orderBy: { createdAt: 'desc' },
+      take: PAGE_SIZE,
+      skip: (page - 1) * PAGE_SIZE,
+      include: {
+        hashtag: { select: { tag: true, displayTag: true } },
+        fund: { select: { name: true, slug: true } },
+        user: { select: { username: true, displayUsername: true, isFund: true } },
+      },
+    }),
+  ])
+
+  const totalPages = Math.max(1, Math.ceil(total / PAGE_SIZE))
+
+  return (
+    <div className="max-w-3xl mx-auto space-y-6">
+      <div className="flex items-center gap-3">
+        <Activity className="h-6 w-6 text-indigo-400" />
+        <h1 className="text-2xl font-bold">Trade Feed</h1>
+        <span className="text-slate-500 text-sm">({total.toLocaleString()} trades)</span>
+      </div>
+
+      <div className="bg-surface-card border border-surface-border rounded-xl overflow-hidden">
+        <div className="divide-y divide-surface-border">
+          {trades.map((t) => (
+            <div key={t.id} className="px-4 py-3 text-sm space-y-1.5">
+              {/* Primary row: type badge · hashtag · total value */}
+              <div className="flex items-center gap-2">
+                <span
+                  className={`text-xs font-medium px-2 py-0.5 rounded shrink-0 ${
+                    (t.type === 'LIQUIDATE_LONG' || t.type === 'LIQUIDATE_SHORT')
+                      ? 'bg-orange-500/15 text-orange-400'
+                      : (t.type === 'FUND_INVEST' || t.type === 'FUND_REDEEM')
+                        ? 'bg-indigo-500/15 text-indigo-400'
+                        : t.type.startsWith('BUY')
+                          ? 'bg-emerald-500/15 text-emerald-400'
+                          : 'bg-red-500/15 text-red-400'
+                  }`}
+                >
+                  {(t.type === 'LIQUIDATE_LONG' || t.type === 'LIQUIDATE_SHORT') ? 'LIQUIDATED' : t.type.replace(/_/g, ' ')}
+                </span>
+                {(t.type === 'FUND_INVEST' || t.type === 'FUND_REDEEM') ? (
+                  t.fund ? (
+                    <Link
+                      href={`/fund/${t.fund.slug}`}
+                      className="text-indigo-300 hover:text-indigo-200 font-medium truncate flex-1 min-w-0"
+                    >
+                      {t.fund.name}
+                    </Link>
+                  ) : (
+                    <span className="text-slate-500 font-medium flex-1 min-w-0">Deleted Fund</span>
+                  )
+                ) : (
+                  <Link
+                    href={`/hashtag/${t.hashtag!.tag}`}
+                    className="text-indigo-300 hover:text-indigo-200 font-medium truncate flex-1 min-w-0"
+                  >
+                    #{t.hashtag!.displayTag}
+                  </Link>
+                )}
+                <span className="shrink-0 font-medium tabular-nums">{formatCurrency(t.total)}</span>
+              </div>
+              {/* Secondary row: user · time (left)  shares @ price (right) */}
+              <div className="flex items-center justify-between text-xs text-slate-500">
+                <div className="flex items-center gap-1.5 min-w-0">
+                  {t.user.isFund && <span className="text-indigo-400 shrink-0">🏦</span>}
+                  <Link
+                    href={t.user.isFund ? `/fund/${t.user.username.replace('fund:', '')}` : `/profile/${t.user.username}`}
+                    className="text-slate-400 hover:text-slate-200 truncate"
+                  >
+                    {t.user.displayUsername ?? t.user.username}
+                  </Link>
+                  <span className="text-slate-700 shrink-0">·</span>
+                  <span className="shrink-0">{formatDistanceToNow(t.createdAt, { addSuffix: true })}</span>
+                </div>
+                <span className="shrink-0 tabular-nums ml-3">{formatNumber(t.shares)} sh @ {formatCurrency(t.price)}</span>
+              </div>
+              {/* PnL: sell, liquidation, and fund redeem trades */}
+              {(t.type === 'SELL_LONG' || t.type === 'SELL_SHORT' || t.type === 'LIQUIDATE_LONG' || t.type === 'LIQUIDATE_SHORT' || t.type === 'FUND_REDEEM') && (
+                <div className={`text-xs text-right ${pnlColor(t.profit)}`}>{formatPnl(t.profit)}</div>
+              )}
+            </div>
+          ))}
+        </div>
+      </div>
+
+      {totalPages > 1 && (
+        <div className="flex items-center justify-center gap-2">
+          {page > 1 && (
+            <Link
+              href={`/trades?page=${page - 1}`}
+              className="px-3 py-1.5 text-sm bg-surface-card border border-surface-border rounded-lg hover:border-indigo-500/50 transition-colors"
+            >
+              ← Prev
+            </Link>
+          )}
+          <span className="text-slate-500 text-sm">Page {page} of {totalPages}</span>
+          {page < totalPages && (
+            <Link
+              href={`/trades?page=${page + 1}`}
+              className="px-3 py-1.5 text-sm bg-surface-card border border-surface-border rounded-lg hover:border-indigo-500/50 transition-colors"
+            >
+              Next →
+            </Link>
+          )}
+        </div>
+      )}
+    </div>
+  )
+}

src/components/AutoRefresh.tsx

@@ -0,0 +1,28 @@
+'use client'
+
+import { useRouter } from 'next/navigation'
+import { useEffect } from 'react'
+
+/**
+ * Silently refreshes all server-component data on the current page by calling
+ * router.refresh() on an interval and whenever the tab regains focus.
+ *
+ * Drop this anywhere inside a server-component page — it renders nothing.
+ */
+export function AutoRefresh({ intervalMs = 30_000 }: { intervalMs?: number }) {
+  const router = useRouter()
+
+  useEffect(() => {
+    const id = setInterval(() => router.refresh(), intervalMs)
+
+    const onFocus = () => router.refresh()
+    document.addEventListener('visibilitychange', onFocus)
+
+    return () => {
+      clearInterval(id)
+      document.removeEventListener('visibilitychange', onFocus)
+    }
+  }, [router, intervalMs])
+
+  return null
+}

src/components/HashtagCard.tsx

@@ -1,5 +1,5 @@
 import Link from 'next/link'
-import { TrendingUp, TrendingDown } from 'lucide-react'
+import { TrendingUp, TrendingDown, Minus } from 'lucide-react'
 import { formatCurrency } from '@/lib/utils'
 
 interface Props {
@@ -16,7 +16,7 @@ export function HashtagCard({ tag, displayTag, currentPrice, previousPrice, post
       ? ((currentPrice - previousPrice) / previousPrice) * 100
       : null
 
-  const up = pctChange === null ? null : pctChange >= 0
+  const up = pctChange === null ? null : pctChange > 0 ? 'up' : pctChange < 0 ? 'down' : 'flat'
 
   return (
     <Link
@@ -24,26 +24,28 @@ export function HashtagCard({ tag, displayTag, currentPrice, previousPrice, post
       className="block bg-surface-card border border-surface-border hover:border-indigo-500/50 rounded-xl p-4 transition-all hover:shadow-lg hover:shadow-indigo-500/5"
     >
       <div className="flex items-start justify-between gap-2">
-        <div>
-          <p className="font-semibold text-sm">#{displayTag}</p>
+        <div className="min-w-0">
+          <p className="font-semibold text-sm truncate">#{displayTag}</p>
           {postsPerHour !== undefined && (
             <p className="text-xs text-slate-500 mt-0.5">
               {postsPerHour.toFixed(1)} posts/hr
             </p>
           )}
         </div>
-        <div className="text-right">
+        <div className="text-right shrink-0">
           <p className="font-bold text-sm">{formatCurrency(currentPrice)}</p>
           {pctChange !== null && (
             <div
-              className={`flex items-center justify-end gap-0.5 text-xs mt-0.5 ${up ? 'text-emerald-400' : 'text-red-400'}`}
+              className={`flex items-center justify-end gap-0.5 text-xs mt-0.5 ${up === 'up' ? 'text-emerald-400' : up === 'down' ? 'text-red-400' : 'text-slate-400'}`}
             >
-              {up ? (
+              {up === 'up' ? (
                 <TrendingUp className="h-3 w-3" />
-              ) : (
+              ) : up === 'down' ? (
                 <TrendingDown className="h-3 w-3" />
+              ) : (
+                <Minus className="h-3 w-3" />
               )}
-              {up ? '+' : ''}
+              {up === 'up' ? '+' : ''}
               {pctChange.toFixed(1)}%
             </div>
           )}

src/components/Navbar.tsx

@@ -3,25 +3,94 @@
 import Link from 'next/link'
 import { useSession, signOut } from 'next-auth/react'
 import { TrendingUp, Search, User, LogOut, Shield, Trophy } from 'lucide-react'
-import { useState } from 'react'
-import { useRouter } from 'next/navigation'
+import { useState, useRef, useEffect, Suspense } from 'react'
+import { useRouter, useSearchParams } from 'next/navigation'
 import { formatCurrency } from '@/lib/utils'
 import { normalizeTag } from '@/lib/utils'
 
-export function Navbar() {
-  const { data: session } = useSession()
+type Suggestion = { tag: string; displayTag: string; currentPrice: number }
+
+function NavSearchInner() {
   const router = useRouter()
+  const searchParams = useSearchParams()
+  const fundSlug = searchParams.get('fund')
   const [query, setQuery] = useState('')
+  const [suggestions, setSuggestions] = useState<Suggestion[]>([])
+  const [showSuggestions, setShowSuggestions] = useState(false)
+  const debounceRef = useRef<ReturnType<typeof setTimeout> | null>(null)
+
+  function navigate(tag: string) {
+    const url = fundSlug ? `/hashtag/${tag}?fund=${encodeURIComponent(fundSlug)}` : `/hashtag/${tag}`
+    router.push(url)
+    setQuery('')
+    setSuggestions([])
+    setShowSuggestions(false)
+  }
 
   function handleSearch(e: React.FormEvent) {
     e.preventDefault()
     const tag = normalizeTag(query)
-    if (tag) {
-      router.push(`/hashtag/${tag}`)
-      setQuery('')
-    }
+    if (tag) navigate(tag)
   }
 
+  function handleQueryChange(e: React.ChangeEvent<HTMLInputElement>) {
+    const val = e.target.value
+    setQuery(val)
+    if (debounceRef.current) clearTimeout(debounceRef.current)
+    const normalized = val.replace(/^#/, '').trim().toLowerCase()
+    if (normalized.length < 1) {
+      setSuggestions([])
+      setShowSuggestions(false)
+      return
+    }
+    debounceRef.current = setTimeout(async () => {
+      try {
+        const res = await fetch(`/api/hashtags/search?q=${encodeURIComponent(normalized)}`)
+        if (res.ok) {
+          const data: Suggestion[] = await res.json()
+          setSuggestions(data)
+          setShowSuggestions(data.length > 0)
+        }
+      } catch {}
+    }, 300)
+  }
+
+  return (
+    <form onSubmit={handleSearch} className="flex-1 max-w-md">
+      <div className="relative">
+        <Search className="absolute left-3 top-1/2 -translate-y-1/2 h-4 w-4 text-slate-500" />
+        <input
+          type="text"
+          value={query}
+          onChange={handleQueryChange}
+          onBlur={() => setTimeout(() => setShowSuggestions(false), 150)}
+          onFocus={() => suggestions.length > 0 && setShowSuggestions(true)}
+          placeholder={fundSlug ? `#hashtag (as ${fundSlug})` : '#hashtag'}
+          className="w-full bg-surface border border-surface-border rounded-lg pl-9 pr-3 py-1.5 text-sm focus:outline-none focus:ring-2 focus:ring-indigo-500"
+        />
+        {showSuggestions && suggestions.length > 0 && (
+          <div className="absolute top-full left-0 right-0 mt-1 bg-surface-card border border-surface-border rounded-lg shadow-xl z-50 overflow-hidden">
+            {suggestions.map((s) => (
+              <button
+                key={s.tag}
+                type="button"
+                onMouseDown={() => navigate(s.tag)}
+                className="w-full flex items-center justify-between px-3 py-2 text-sm hover:bg-surface-border transition-colors"
+              >
+                <span className="font-medium">#{s.displayTag}</span>
+                <span className="text-slate-400 text-xs">{formatCurrency(s.currentPrice)}</span>
+              </button>
+            ))}
+          </div>
+        )}
+      </div>
+    </form>
+  )
+}
+
+export function Navbar() {
+  const { data: session } = useSession()
+
   return (
     <nav className="border-b border-surface-border bg-surface-card">
       <div className="max-w-7xl mx-auto px-4 sm:px-6 lg:px-8">
@@ -32,19 +101,17 @@ export function Navbar() {
             <span className="font-bold text-lg hidden sm:block">HashEx</span>
           </Link>
 
-          {/* Search */}
-          <form onSubmit={handleSearch} className="flex-1 max-w-md">
-            <div className="relative">
-              <Search className="absolute left-3 top-1/2 -translate-y-1/2 h-4 w-4 text-slate-500" />
-              <input
-                type="text"
-                value={query}
-                onChange={(e) => setQuery(e.target.value)}
-                placeholder="#hashtag"
-                className="w-full bg-surface border border-surface-border rounded-lg pl-9 pr-3 py-1.5 text-sm focus:outline-none focus:ring-2 focus:ring-indigo-500"
-              />
+          {/* Search — NavSearchInner uses useSearchParams() to preserve ?fund= context */}
+          <Suspense fallback={
+            <div className="flex-1 max-w-md">
+              <div className="relative">
+                <Search className="absolute left-3 top-1/2 -translate-y-1/2 h-4 w-4 text-slate-500" />
+                <input disabled placeholder="#hashtag" className="w-full bg-surface border border-surface-border rounded-lg pl-9 pr-3 py-1.5 text-sm" />
+              </div>
             </div>
-          </form>
+          }>
+            <NavSearchInner />
+          </Suspense>
 
           {/* Right section */}
           <div className="flex items-center gap-3 shrink-0">
@@ -104,21 +171,40 @@ export function Navbar() {
 
 // Lazy balance fetcher so the navbar always shows current value
 function BalanceBadge({ userId }: { userId: string }) {
-  // We read balance from the API to stay fresh; use SWR-style approach
   const [balance, setBalance] = useState<number | null>(null)
 
-  // One-shot fetch on mount
-  if (typeof window !== 'undefined' && balance === null) {
-    fetch('/api/user/me')
-      .then((r) => r.json())
-      .then((d) => setBalance(d.balance ?? null))
-      .catch(() => {})
-  }
+  useEffect(() => {
+    let cancelled = false
+
+    function fetchBalance() {
+      fetch('/api/user/me')
+        .then((r) => r.json())
+        .then((d) => { if (!cancelled) setBalance(d.balance ?? null) })
+        .catch(() => {})
+    }
+
+    fetchBalance()
+
+    // Re-fetch every 30 seconds
+    const interval = setInterval(fetchBalance, 30_000)
+
+    // Re-fetch when the tab regains focus
+    function onVisible() {
+      if (document.visibilityState === 'visible') fetchBalance()
+    }
+    document.addEventListener('visibilitychange', onVisible)
+
+    return () => {
+      cancelled = true
+      clearInterval(interval)
+      document.removeEventListener('visibilitychange', onVisible)
+    }
+  }, [userId])
 
   if (balance === null) return null
 
   return (
-    <span className="text-emerald-400 text-sm font-medium hidden md:block">
+    <span className={`text-sm font-medium hidden md:block ${balance < 0 ? 'text-red-400' : 'text-emerald-400'}`}>
       {formatCurrency(balance)}
     </span>
   )

src/components/admin/RetryFailedButton.tsx

@@ -0,0 +1,41 @@
+'use client'
+
+import { useState } from 'react'
+import { useRouter } from 'next/navigation'
+
+export default function RetryFailedButton({
+  queueName,
+  count,
+}: {
+  queueName: string
+  count: number
+}) {
+  const [loading, setLoading] = useState(false)
+  const router = useRouter()
+
+  if (count === 0) return null
+
+  async function handleRetry() {
+    setLoading(true)
+    try {
+      await fetch(`/api/admin/queues/${encodeURIComponent(queueName)}`, {
+        method: 'POST',
+        headers: { 'Content-Type': 'application/json' },
+        body: JSON.stringify({ action: 'retry-failed' }),
+      })
+    } finally {
+      router.refresh()
+      setLoading(false)
+    }
+  }
+
+  return (
+    <button
+      onClick={handleRetry}
+      disabled={loading}
+      className="text-xs px-2 py-1 rounded bg-red-500/20 text-red-400 hover:bg-red-500/30 disabled:opacity-50 transition-colors"
+    >
+      {loading ? 'Retrying…' : `Retry ${count} failed`}
+    </button>
+  )
+}

src/components/admin/TriggerJobButton.tsx

@@ -0,0 +1,37 @@
+'use client'
+
+import { useState } from 'react'
+import { useRouter } from 'next/navigation'
+
+export default function TriggerJobButton({ queueName, label }: { queueName: string; label: string }) {
+  const [loading, setLoading] = useState(false)
+  const [done, setDone] = useState(false)
+  const router = useRouter()
+
+  async function handleTrigger() {
+    setLoading(true)
+    setDone(false)
+    try {
+      await fetch(`/api/admin/queues/${encodeURIComponent(queueName)}`, {
+        method: 'POST',
+        headers: { 'Content-Type': 'application/json' },
+        body: JSON.stringify({ action: 'trigger' }),
+      })
+      setDone(true)
+      setTimeout(() => setDone(false), 3000)
+    } finally {
+      router.refresh()
+      setLoading(false)
+    }
+  }
+
+  return (
+    <button
+      onClick={handleTrigger}
+      disabled={loading}
+      className="text-xs px-2 py-1 rounded bg-indigo-500/20 text-indigo-400 hover:bg-indigo-500/30 disabled:opacity-50 transition-colors"
+    >
+      {loading ? 'Triggering…' : done ? '✓ Triggered' : label}
+    </button>
+  )
+}

src/lib/mastodon.ts

@@ -17,11 +17,25 @@ function extractMaxId(linkHeader: string | null): string | null {
   return match ? match[1] : null
 }
 
-async function fetchPage(tag: string, maxId?: string): Promise<TimelineResult> {
+/**
+ * Extracts hashtag names from Mastodon HTML content with original casing preserved.
+ * Mastodon renders hashtags as: #<span>TagName</span> inside an anchor.
+ */
+function extractTagsFromHtml(html: string): string[] {
+  const results: string[] = []
+  const re = /#<span>([^<]+)<\/span>/gi
+  let m: RegExpExecArray | null
+  while ((m = re.exec(html)) !== null) {
+    results.push(m[1]) // preserve original casing
+  }
+  return results
+}
+
+async function fetchPage(tag: string, maxId?: string, postLimit = 20): Promise<TimelineResult> {
   const instance = process.env.MASTODON_INSTANCE
   if (!instance) throw new Error('MASTODON_INSTANCE is not configured')
 
-  let url = `${instance}/api/v1/timelines/tag/${encodeURIComponent(tag)}?limit=40`
+  let url = `${instance}/api/v1/timelines/tag/${encodeURIComponent(tag)}?limit=${postLimit}`
   if (maxId) url += `&max_id=${maxId}`
 
   const headers: HeadersInit = { Accept: 'application/json' }
@@ -46,8 +60,6 @@ async function fetchPage(tag: string, maxId?: string): Promise<TimelineResult> {
 
 /**
  * Fetches recent posts for a hashtag and returns posts-per-hour.
- * Paginates when all fetched posts share a very tight timestamp window
- * (e.g., #happynewyear at midnight) up to MAX_PAGES_PER_HASHTAG pages.
  */
 export async function getPostsPerHour(tag: string): Promise<number> {
   const { postsPerHour } = await getPostsData(tag)
@@ -57,43 +69,90 @@ export async function getPostsPerHour(tag: string): Promise<number> {
 /**
  * Returns posts-per-hour AND a sorted list of co-occurring tag names
  * (lowercased, excluding the queried tag itself).
+ *
+ * Pagination strategy:
+ *   - Keep fetching pages until >= 50% of posts in a page fall outside the 1-hour window,
+ *     OR the timeline is exhausted, OR MAX_PAGES_PER_HASHTAG is reached.
+ *   - The 50% rule handles federated out-of-order posts gracefully: Mastodon timelines are
+ *     ordered by post ID (local receive time), not created_at. A remote post from hours or
+ *     even years ago can arrive late, get a fresh ID, and appear at the top of the stream.
+ *     A minority of such posts won't trigger the stop condition; only once the majority of
+ *     a page is old content do we consider the 1-hour window fully covered.
+ *   - After collecting all pages, sort by created_at and filter to the last hour for an
+ *     accurate count regardless of any remaining ordering noise.
+ *
+ * PPH calculation:
+ *   - Crossed horizon (direct): we have a full window — count posts with created_at >= cutoff.
+ *   - Hit page cap without crossing (burst): more posts exist beyond what we fetched —
+ *     extrapolate from the covered time span (count / coveredHours).
+ *   - Timeline exhausted without crossing (sparse): all posts in the last hour are accounted
+ *     for — use the raw count directly (no extrapolation).
  */
 export async function getPostsData(
   tag: string,
-): Promise<{ postsPerHour: number; relatedTags: string[] }> {
+): Promise<{ postsPerHour: number; relatedTags: string[]; displayTag?: string; hasAnyPosts: boolean }> {
   const maxPages = parseInt(process.env.MAX_PAGES_PER_HASHTAG ?? '5', 10)
+  const postLimit = Math.min(parseInt(process.env.MASTODON_POST_LIMIT ?? '20', 10), 40)
+  const ONE_HOUR_MS = 60 * 60 * 1000
+  const now = Date.now()
+  const cutoff = now - ONE_HOUR_MS
 
   let allPosts: MastodonPost[] = []
   let maxId: string | undefined
+  let hitPageCap = false
 
   for (let page = 0; page < maxPages; page++) {
-    const { posts, nextMaxId } = await fetchPage(tag, maxId)
+    const { posts, nextMaxId } = await fetchPage(tag, maxId, postLimit)
 
     if (posts.length === 0) break
     allPosts = [...allPosts, ...posts]
 
-    // Stop paginating if we got fewer than 40 posts (end of timeline)
-    if (posts.length < 40 || !nextMaxId) break
+    // End of timeline or no more pages
+    if (posts.length < postLimit || !nextMaxId) break
 
-    // Stop paginating if the time span of what we have is already > 5 minutes
-    const times = allPosts.map((p) => new Date(p.created_at).getTime())
-    const spanMs = Math.max(...times) - Math.min(...times)
-    if (spanMs > 5 * 60 * 1000) break
+    // Stop when >= 50% of this page's posts are outside the 1-hour window.
+    // A handful of old federated posts won't trigger this; once the majority of a page
+    // is old content we have a reliable picture of the last hour.
+    const outsideWindow = posts.filter((p) => new Date(p.created_at).getTime() < cutoff).length
+    if (outsideWindow / posts.length >= 0.5) break
 
     maxId = nextMaxId
+
+    if (page === maxPages - 1) hitPageCap = true
   }
 
-  if (allPosts.length === 0) return { postsPerHour: 0, relatedTags: [] }
+  if (allPosts.length === 0) return { postsPerHour: 0, relatedTags: [], hasAnyPosts: false }
+
+  // Sort globally by created_at so the window filter is accurate regardless of federation order
+  allPosts.sort((a, b) => new Date(b.created_at).getTime() - new Date(a.created_at).getTime())
 
   const times = allPosts.map((p) => new Date(p.created_at).getTime())
-  const newestMs = Math.max(...times)
-  const oldestMs = Math.min(...times)
+  const newestMs = times[0]
+  const oldestMs = times[times.length - 1]
 
-  // Minimum 1-minute span to handle flood scenario (all same timestamp)
-  const spanHours = Math.max((newestMs - oldestMs) / (1000 * 60 * 60), 1 / 60)
-  const postsPerHour = allPosts.length / spanHours
+  let postsPerHour: number
+  if (oldestMs < cutoff) {
+    // We reached (or passed) the 1-hour horizon — count posts within the last hour directly
+    postsPerHour = allPosts.filter((p) => new Date(p.created_at).getTime() >= cutoff).length
+  } else if (hitPageCap) {
+    // Hit the page cap and never reached the horizon — burst scenario, more posts exist
+    // beyond what we fetched. Extrapolate using only in-window posts:
+    //   rate = inWindowCount / coveredHours, where coveredHours = (now - oldestInWindowPost) / ONE_HOUR_MS
+    // This gives posts-per-hour as if the same rate continued for the full 60 minutes.
+    // Minimum 1-minute covered span to avoid divide-by-zero on a single-post window.
+    const inWindowPosts = allPosts.filter((p) => new Date(p.created_at).getTime() >= cutoff)
+    const oldestInWindowMs = inWindowPosts.length > 0
+      ? Math.min(...inWindowPosts.map((p) => new Date(p.created_at).getTime()))
+      : newestMs
+    const coveredMs = Math.max(now - oldestInWindowMs, 60_000)
+    postsPerHour = inWindowPosts.length / (coveredMs / ONE_HOUR_MS)
+  } else {
+    // Timeline exhausted — these are all the posts that exist within the last hour.
+    // Use the raw count directly; extrapolating would inflate a sparse tag.
+    postsPerHour = allPosts.filter((p) => new Date(p.created_at).getTime() >= cutoff).length
+  }
 
-  // Count co-occurring tags
+  // Count co-occurring tags from the API tags object (authoritative for membership)
   const counts = new Map<string, number>()
   const lowerTag = tag.toLowerCase()
   for (const post of allPosts) {
@@ -110,5 +169,53 @@ export async function getPostsData(
     .slice(0, 10)
     .map(([name]) => name)
 
-  return { postsPerHour, relatedTags }
+  // Derive the most common casing variant for the queried tag itself.
+  // Merges post.tags (e.g. "JavaScript") with HTML-rendered span variants for better coverage.
+  const casingCounts = new Map<string, number>()
+  for (const post of allPosts) {
+    // From API tags array - this is the source of truth for which tags are actually present on the post, but it doesn't preserve original casing (all lowercase).
+    // for (const t of post.tags ?? []) {
+    //   if (t.name.toLowerCase() === lowerTag) {
+    //     casingCounts.set(t.name, (casingCounts.get(t.name) ?? 0) + 1)
+    //   }
+    // }
+
+    // From HTML content (preserves original casing as typed by the user)
+    for (const variant of extractTagsFromHtml(post.content)) {
+      if (variant.toLowerCase() === lowerTag) {
+        casingCounts.set(variant, (casingCounts.get(variant) ?? 0) + 1)
+      }
+    }
+  }
+  let displayTag: string | undefined
+  if (casingCounts.size > 0) {
+    const total = [...casingCounts.values()].reduce((a, b) => a + b, 0)
+    const [topVariant, topCount] = [...casingCounts.entries()].sort((a, b) => b[1] - a[1])[0]
+    if (topCount / total >= 0.5) displayTag = topVariant
+  }
+
+  const pagesFetched = hitPageCap
+    ? maxPages
+    : allPosts.length === 0
+      ? 0
+      : Math.ceil(allPosts.length / postLimit)
+
+  const relAge = (ms: number) => {
+    const diffMs = now - ms
+    const d = Math.floor(diffMs / 86_400_000)
+    const h = Math.floor((diffMs % 86_400_000) / 3_600_000)
+    const m = Math.floor((diffMs % 3_600_000) / 60_000)
+    return `${d}d ${h}h ${m}m ago`
+  }
+
+  const inWindowCount = allPosts.filter((p) => new Date(p.created_at).getTime() >= cutoff).length
+  const method = oldestMs < cutoff ? 'direct' : hitPageCap ? 'extrapolated' : 'raw'
+  console.log(
+    `[mastodon] #${tag} — pages: ${pagesFetched}, posts: ${allPosts.length} (${inWindowCount} in-window), ` +
+    `between: ${relAge(oldestMs)} - ${relAge(newestMs)}, ` +
+    `pph: ${postsPerHour.toFixed(2)} (${method})`,
+  )
+
+  return { postsPerHour: Math.round(postsPerHour * 10) / 10, relatedTags, displayTag, hasAnyPosts: true }
 }
+

src/lib/pricing.ts

@@ -1,17 +1,27 @@
 /**
- * Converts posts-per-hour to a share price.
+ * Converts posts-per-hour to a share price using a saturating (Michaelis-Menten) curve.
  *
- * Linear scale: $0.25 per post/hour, minimum $0.25.
- * Examples:
- *   1  post/hr  → $0.25
- *   10 posts/hr → $2.50
- *   100         → $25.00
- *   1000        → $250.00
- *   12 000 (viral #happynewyear) → $3 000
+ * Formula: price = base * pph / (1 + k * pph)
+ * where k is chosen so the curve hits $250 at 3 600 PPH.
+ *
+ * Anchor points:
+ *   1   post/hr  → ~$0.25
+ *   10  posts/hr → ~$2.48
+ *   100 posts/hr → ~$23.32
+ *   1 000        → ~$145
+ *   3 600 (viral) → $250.00  (design target)
+ *   Asymptote    → ~$346
+ *
+ * Floor: $0.25 for ≤ 1 PPH.
  */
 export function calcPrice(postsPerHour: number): number {
-  if (postsPerHour <= 0) return 0.25
-  return Math.max(0.25, Math.round(postsPerHour * 0.25 * 100) / 100)
+  if (postsPerHour <= 1) return 0.25
+  const base   = 0.25   // The base price at low volumes (1 PPH)
+  const anchor = 3600   // PPH at which we want the target price (1 PPS)
+  const target = 250    // price at the anchor PPH
+  const k = ((base * anchor / target) - 1) / anchor
+  const price = base * postsPerHour / (1 + k * postsPerHour)
+  return Math.max(0.25, Math.round(price * 100) / 100)
 }
 
 /**
@@ -25,6 +35,29 @@ export function dailyResearchPoints(balance: number): number {
   return 1
 }
 
+export interface BalanceTier {
+  level: number
+  pointsPerDay: number
+  nextThreshold: number | null
+}
+
+/** Returns the tier info for a given balance. */
+export function getBalanceTier(balance: number): BalanceTier {
+  if (balance >= 1_000_000) return { level: 4, pointsPerDay: 5, nextThreshold: null }
+  if (balance >= 100_000)   return { level: 3, pointsPerDay: 3, nextThreshold: 1_000_000 }
+  if (balance >= 10_000)    return { level: 2, pointsPerDay: 2, nextThreshold: 100_000 }
+  return                           { level: 1, pointsPerDay: 1, nextThreshold: 10_000 }
+}
+
+/** Round a dollar amount to 2 decimal places for DB storage. */
+export const round2 = (n: number) => Math.round(n * 100) / 100
+
+/** Calculate NAV (net asset value) per fund share. Returns 1.00 if no shares outstanding. */
+export function calcFundNav(totalValue: number, sharesOutstanding: number): number {
+  if (sharesOutstanding <= 0) return 1.00
+  return totalValue / sharesOutstanding
+}
+
 /**
  * Calculate the cost/proceeds and realized P&L for a trade.
  *
@@ -58,8 +91,12 @@ export function calcTrade(
       return { total, balanceDelta: -total, profit: 0 }
     }
     case 'SELL_SHORT': {
-      const returned = Math.max(0, (2 * avgBuyPrice - price) * shares)
-      const profit = returned - avgBuyPrice * shares
+      // The collateral model: BUY_SHORT debited avgBuyPrice*shares. On close the
+      // formula (2*avgBuyPrice - price)*shares returns the net credit/debit so that
+      // the combined two-leg P&L equals (avgBuyPrice - price)*shares.
+      // No cap: when price > 2*avgBuyPrice the balance goes negative (realistic loss).
+      const returned = (2 * avgBuyPrice - price) * shares
+      const profit = returned - avgBuyPrice * shares // = (avgBuyPrice - price) * shares
       return { total: returned, balanceDelta: returned, profit }
     }
   }

src/lib/queue.ts

@@ -42,3 +42,11 @@ export const schedulerQueue = new Queue('hashex-scheduler', {
     removeOnFail: { count: 5 },
   },
 })
+
+export const fundNavSnapshotQueue = new Queue('hashex-fund-nav-snapshot', {
+  connection: redisOpts(),
+  defaultJobOptions: {
+    removeOnComplete: { count: 10 },
+    removeOnFail: { count: 10 },
+  },
+})

src/lib/utils.ts

@@ -6,6 +6,15 @@ export function cn(...inputs: ClassValue[]) {
 }
 
 export function formatCurrency(value: number): string {
+  const abs = Math.abs(value)
+  if (abs >= 10_000) {
+    return new Intl.NumberFormat('en-US', {
+      style: 'currency',
+      currency: 'USD',
+      notation: 'compact',
+      maximumFractionDigits: 2,
+    }).format(value)
+  }
   return new Intl.NumberFormat('en-US', {
     style: 'currency',
     currency: 'USD',
@@ -32,7 +41,11 @@ export function pnlColor(value: number): string {
   return 'text-slate-400'
 }
 
-/** Normalize a hashtag: lowercase, strip leading #, trim whitespace */
+/** Normalize a hashtag: lowercase, strip leading #, remove all whitespace and
+ *  any character that isn't a letter, digit, or underscore. */
 export function normalizeTag(raw: string): string {
-  return raw.trim().replace(/^#+/, '').toLowerCase()
+  return raw
+    .replace(/^#+/, '')      // strip leading #
+    .replace(/[\s]/g, '')    // remove all whitespace
+    .toLowerCase()
 }

src/middleware.ts

@@ -2,12 +2,14 @@ export { default } from 'next-auth/middleware'
 
 export const config = {
   matcher: [
-    '/profile/:path*',
+    '/positions',
+    '/history',
     '/admin/:path*',
     '/api/trade/:path*',
     '/api/research/:path*',
     '/api/user/:path*',
     '/api/admin/:path*',
     '/api/lottery/:path*',
+    '/api/funds/:path*',
   ],
 }

src/worker/index.ts

@@ -13,7 +13,7 @@
 import { Worker, Queue } from 'bullmq'
 import { PrismaClient } from '@prisma/client'
 import { getPostsData } from '../lib/mastodon'
-import { calcPrice, dailyResearchPoints } from '../lib/pricing'
+import { calcPrice, calcTrade, dailyResearchPoints, calcFundNav, round2 } from '../lib/pricing'
 
 // ── Connection options ────────────────────────────────────────────────────────
 // Use plain connection options so BullMQ uses its own bundled ioredis,
@@ -33,20 +33,69 @@ function redisOpts() {
   }
 }
 
-const connection = redisOpts()
-
+// Each Queue/Worker gets its own fresh connection options object.
+// BullMQ Workers use blocking ioredis connections internally — sharing one
+// options reference across instances can cause silent failures in some versions.
 const prisma = new PrismaClient({
   log: ['error', 'warn'],
 })
 
 const RATE_LIMIT_MS = parseInt(process.env.WORKER_RATE_LIMIT_MS ?? '2000', 10)
 const UPDATE_INTERVAL_MIN = parseInt(process.env.PRICE_UPDATE_INTERVAL_MINUTES ?? '60', 10)
+const ACTIVE_HOURS = parseInt(process.env.HASHTAG_ACTIVE_HOURS ?? '24', 10)
+const ZOMBIE_ZERO_COUNT = parseInt(process.env.ZOMBIE_ZERO_COUNT ?? '1000', 10)
+
+function activeUntilFromNow(): Date {
+  return new Date(Date.now() + ACTIVE_HOURS * 60 * 60 * 1000)
+}
 
 // ── Queues (worker side) ──────────────────────────────────────────────────────
 
-const priceUpdateQueue = new Queue('hashex-price-updates', { connection })
-const maintenanceQueue = new Queue('hashex-maintenance', { connection })
-const schedulerQueue = new Queue('hashex-scheduler', { connection })
+const priceUpdateQueue = new Queue('hashex-price-updates', { connection: redisOpts() })
+const maintenanceQueue = new Queue('hashex-maintenance', { connection: redisOpts() })
+const schedulerQueue = new Queue('hashex-scheduler', { connection: redisOpts() })
+const fundNavSnapshotQueue = new Queue('hashex-fund-nav-snapshot', { connection: redisOpts() })
+
+// ── Helpers ──────────────────────────────────────────────────────────────────
+
+/**
+ * Force-close every open position on a hashtag at the given price.
+ * Creates SELL_LONG / SELL_SHORT trade records and credits users' balances.
+ * Returns the number of positions closed.
+ */
+async function forceClosePositions(hashtagId: string, price: number, tag: string): Promise<number> {
+  const positions = await prisma.position.findMany({
+    where: { hashtagId, shares: { gt: 0 } },
+  })
+  for (const pos of positions) {
+    const type = pos.positionType === 'LONG' ? 'LIQUIDATE_LONG' as const : 'LIQUIDATE_SHORT' as const
+    const calcType = pos.positionType === 'LONG' ? 'SELL_LONG' as const : 'SELL_SHORT' as const
+    const { total, balanceDelta, profit } = calcTrade(calcType, pos.shares, price, pos.avgBuyPrice)
+    await prisma.$transaction([
+      prisma.user.update({
+        where: { id: pos.userId },
+        data: { balance: { increment: round2(balanceDelta) } },
+      }),
+      prisma.position.update({
+        where: { id: pos.id },
+        data: { shares: 0 },
+      }),
+      prisma.trade.create({
+        data: {
+          userId: pos.userId,
+          hashtagId,
+          type,
+          shares: pos.shares,
+          price,
+          total,
+          profit,
+        },
+      }),
+    ])
+    console.log(`[price] #${tag} force-closed ${type} for user ${pos.userId} — ${pos.shares} sh @ $${price.toFixed(2)}, P&L $${profit.toFixed(2)}`)
+  }
+  return positions.length
+}
 
 // ── Workers ───────────────────────────────────────────────────────────────────
 
@@ -62,8 +111,9 @@ const priceWorker = new Worker(
 
     let postsPerHour = 0
     let relatedTags: string[] = []
+    let displayTag: string | undefined
     try {
-      ;({ postsPerHour, relatedTags } = await getPostsData(tag))
+      ;({ postsPerHour, relatedTags, displayTag } = await getPostsData(tag))
     } catch (err) {
       console.error(`[price] mastodon error for #${tag}:`, err)
       throw err // BullMQ will retry
@@ -72,23 +122,60 @@ const priceWorker = new Worker(
     const hashtag = await prisma.hashtag.findUnique({ where: { id: hashtagId } })
     if (!hashtag) return
 
+    const now = new Date()
+    const ttlExpired = !hashtag.activeUntil || hashtag.activeUntil <= now
+    const ownerCount = await prisma.position.count({ where: { hashtagId, shares: { gt: 0 } } })
+
     if (postsPerHour === 0) {
       const newZeroCount = hashtag.zeroCount + 1
-      // Auto-deactivate after 3 consecutive zero-result updates with no owners
-      const ownerCount = await prisma.position.count({
-        where: { hashtagId, shares: { gt: 0 } },
-      })
-      const shouldDeactivate = newZeroCount >= 3 && ownerCount === 0
 
-      await prisma.hashtag.update({
-        where: { id: hashtagId },
-        data: {
-          zeroCount: newZeroCount,
-          isActive: shouldDeactivate ? false : hashtag.isActive,
-          lastUpdated: new Date(),
-        },
-      })
-      console.log(`[price] #${tag} got 0 posts (zeroCount=${newZeroCount})${shouldDeactivate ? ' — deactivated' : ''}`)
+      // Zombie threshold: retire the hashtag and force-close any remaining positions
+      if (newZeroCount >= ZOMBIE_ZERO_COUNT) {
+        if (ownerCount > 0) {
+          const closed = await forceClosePositions(hashtagId, hashtag.currentPrice, tag)
+          console.log(`[price] #${tag} zombie threshold (zeroCount=${newZeroCount}) — force-closed ${closed} position(s)`)
+        }
+        await prisma.hashtag.update({
+          where: { id: hashtagId },
+          data: { zeroCount: newZeroCount, isActive: false, lastUpdated: new Date() },
+        })
+        console.log(`[price] #${tag} retired (zeroCount=${newZeroCount})`)
+        return
+      }
+
+      const shouldDeactivate = ttlExpired && ownerCount === 0
+      const floorPrice = calcPrice(0)
+      await prisma.$transaction([
+        prisma.hashtag.update({
+          where: { id: hashtagId },
+          data: {
+            zeroCount: newZeroCount,
+            isActive: shouldDeactivate ? false : hashtag.isActive,
+            lastUpdated: new Date(),
+          },
+        }),
+        // Record floor price in history while the stock is still active so the chart has no gaps
+        ...(!shouldDeactivate ? [prisma.priceHistory.create({
+          data: { hashtagId, price: floorPrice, postsPerHour: 0 },
+        })] : []),
+      ])
+      console.log(`[price] #${tag} got 0 posts (zeroCount=${newZeroCount})${shouldDeactivate ? ' — deactivated (TTL expired, no holders)' : ''}`)
+      return
+    }
+
+    // If TTL expired and no holders, record final price then deactivate
+    if (ttlExpired && ownerCount === 0) {
+      const finalPrice = calcPrice(postsPerHour)
+      await prisma.$transaction([
+        prisma.hashtag.update({
+          where: { id: hashtagId },
+          data: { currentPrice: finalPrice, isActive: false, lastUpdated: new Date() },
+        }),
+        prisma.priceHistory.create({
+          data: { hashtagId, price: finalPrice, postsPerHour },
+        }),
+      ])
+      console.log(`[price] #${tag} deactivated — TTL expired, no holders (final price $${finalPrice.toFixed(2)})`)
       return
     }
 
@@ -101,6 +188,7 @@ const priceWorker = new Worker(
           currentPrice: newPrice,
           zeroCount: 0,
           lastUpdated: new Date(),
+          ...(displayTag && displayTag !== hashtag.displayTag ? { displayTag } : {}),
         },
       }),
       prisma.priceHistory.create({
@@ -140,31 +228,182 @@ const priceWorker = new Worker(
     }
   },
   {
-    connection,
+    connection: redisOpts(),
     concurrency: 1, // one Mastodon call at a time
   },
 )
 
 /**
- * Daily maintenance worker — awards research points based on balance milestones.
+ * Daily maintenance worker — awards research points based on balance milestones,
+ * and prunes old price history to control data growth.
+ *
+ * Retention policy:
+ *   - Active hashtags:   keep last 7 days
+ *   - Inactive hashtags: keep last 24 hours
  */
 const maintenanceWorker = new Worker(
   'hashex-maintenance',
   async (job) => {
     console.log(`[maintenance] running daily maintenance (job ${job.id})`)
 
-    const users = await prisma.user.findMany({ select: { id: true, balance: true } })
+    const MAX_RESEARCH_POINTS = 10
+    const users = await prisma.user.findMany({ where: { isFund: false }, select: { id: true, balance: true, researchPoints: true } })
     for (const user of users) {
       const points = dailyResearchPoints(user.balance)
-      await prisma.user.update({
-        where: { id: user.id },
-        data: { researchPoints: { increment: points } },
-      })
+      const newTotal = Math.min(user.researchPoints + points, MAX_RESEARCH_POINTS)
+      if (newTotal !== user.researchPoints) {
+        await prisma.user.update({
+          where: { id: user.id },
+          data: { researchPoints: newTotal },
+        })
+      }
     }
 
     console.log(`[maintenance] awarded research points to ${users.length} users`)
+
+    // ── Price history pruning ──────────────────────────────────────────────
+    const now = new Date()
+    const activeDays    = parseInt(process.env.PRICE_HISTORY_ACTIVE_DAYS    ?? '7',  10)
+    const inactiveHours = parseInt(process.env.PRICE_HISTORY_INACTIVE_HOURS ?? '24', 10)
+    const cutoff7d  = new Date(now.getTime() - activeDays    * 24 * 60 * 60 * 1000)
+    const cutoff24h = new Date(now.getTime() - inactiveHours *      60 * 60 * 1000)
+
+    // Active hashtags: drop history older than 7 days
+    const activeIds = (
+      await prisma.hashtag.findMany({ where: { isActive: true }, select: { id: true } })
+    ).map((h) => h.id)
+
+    const deletedActive = activeIds.length > 0
+      ? await prisma.priceHistory.deleteMany({
+          where: { hashtagId: { in: activeIds }, recordedAt: { lt: cutoff7d } },
+        })
+      : { count: 0 }
+
+    // Inactive hashtags: drop history older than 24 hours
+    const inactiveIds = (
+      await prisma.hashtag.findMany({ where: { isActive: false }, select: { id: true } })
+    ).map((h) => h.id)
+
+    const deletedInactive = inactiveIds.length > 0
+      ? await prisma.priceHistory.deleteMany({
+          where: { hashtagId: { in: inactiveIds }, recordedAt: { lt: cutoff24h } },
+        })
+      : { count: 0 }
+
+    console.log(
+      `[maintenance] pruned price history — active: ${deletedActive.count} rows removed (>${activeDays}d), ` +
+      `inactive: ${deletedInactive.count} rows removed (>${inactiveHours}h)`,
+    )
+
+    // ── Snapshot history pruning (7 days for both) ─────────────────────────
+    const snapshotCutoff = new Date(now.getTime() - 7 * 24 * 60 * 60 * 1000)
+    const [deletedFundNav, deletedUserPortfolio] = await Promise.all([
+      prisma.fundNavHistory.deleteMany({ where: { recordedAt: { lt: snapshotCutoff } } }),
+      prisma.userPortfolioHistory.deleteMany({ where: { recordedAt: { lt: snapshotCutoff } } }),
+    ])
+    console.log(
+      `[maintenance] pruned snapshots — fund NAV: ${deletedFundNav.count} rows, user portfolio: ${deletedUserPortfolio.count} rows (>7d)`,
+    )
+
+    // ── Related hashtag pruning ────────────────────────────────────────────
+    // 1. Null-target records: the related hashtag was deleted (onDelete: SetNull)
+    //    or was never tracked. Delete unconditionally — the upsert in the price
+    //    worker will recreate them if the co-occurrence is seen again.
+    // 2. Weak associations: low co-occurrence records that were never reinforced,
+    //    pruned after 30 days of inactivity.
+    const relatedCutoff = new Date(now.getTime() - 30 * 24 * 60 * 60 * 1000)
+    const [deletedNullTarget, deletedWeak] = await Promise.all([
+      prisma.relatedHashtag.deleteMany({ where: { relatedId: null } }),
+      prisma.relatedHashtag.deleteMany({
+        where: { relatedId: { not: null }, coOccurrences: { lt: 5 }, updatedAt: { lt: relatedCutoff } },
+      }),
+    ])
+    console.log(
+      `[maintenance] pruned relatedHashtag — ${deletedNullTarget.count} null-target, ${deletedWeak.count} weak (>30d, <5 co-occurrences)`,
+    )
   },
-  { connection },
+  { connection: redisOpts() },
+)
+
+/**
+ * Fund NAV snapshot worker — records the current NAV of every fund once per hour.
+ */
+const fundNavSnapshotWorker = new Worker(
+  'hashex-fund-nav-snapshot',
+  async (job) => {
+    console.log(`[fund-nav] snapshotting all fund NAVs (job ${job.id})`)
+
+    const funds = await prisma.hedgeFund.findMany({
+      select: {
+        id: true,
+        sharesOutstanding: true,
+        user: {
+          select: {
+            balance: true,
+            positions: {
+              where: { shares: { gt: 0 } },
+              select: {
+                shares: true,
+                positionType: true,
+                avgBuyPrice: true,
+                hashtag: { select: { currentPrice: true } },
+              },
+            },
+          },
+        },
+      },
+    })
+
+    for (const fund of funds) {
+      const portfolioValue = fund.user.positions.reduce((sum, p) => {
+        const val = p.positionType === 'LONG'
+          ? p.shares * p.hashtag.currentPrice
+          : p.avgBuyPrice * p.shares - (p.hashtag.currentPrice - p.avgBuyPrice) * p.shares
+        return sum + val
+      }, 0)
+      const totalValue = fund.user.balance + portfolioValue
+      const nav = calcFundNav(totalValue, fund.sharesOutstanding)
+      await prisma.fundNavHistory.create({
+        data: { fundId: fund.id, nav, totalValue },
+      })
+    }
+
+    console.log(`[fund-nav] snapshotted ${funds.length} fund(s)`)
+
+    // ── User portfolio snapshots ──────────────────────────────────────────
+    const regularUsers = await prisma.user.findMany({
+      where: { isFund: false },
+      select: {
+        id: true,
+        balance: true,
+        positions: {
+          where: { shares: { gt: 0 } },
+          select: {
+            shares: true,
+            positionType: true,
+            avgBuyPrice: true,
+            hashtag: { select: { currentPrice: true } },
+          },
+        },
+      },
+    })
+
+    for (const user of regularUsers) {
+      const portfolioValue = user.positions.reduce((sum, p) => {
+        const val = p.positionType === 'LONG'
+          ? p.shares * p.hashtag.currentPrice
+          : p.avgBuyPrice * p.shares - (p.hashtag.currentPrice - p.avgBuyPrice) * p.shares
+        return sum + val
+      }, 0)
+      const totalValue = user.balance + portfolioValue
+      await prisma.userPortfolioHistory.create({
+        data: { userId: user.id, totalValue, portfolioValue },
+      })
+    }
+
+    console.log(`[fund-nav] snapshotted ${regularUsers.length} user portfolio(s)`)
+  },
+  { connection: redisOpts() },
 )
 
 /**
@@ -187,53 +426,97 @@ const schedulerWorker = new Worker(
       return
     }
 
-    // Remove any already-waiting jobs to avoid duplicates
-    const waiting = await priceUpdateQueue.getJobs(['waiting', 'delayed'])
-    const waitingIds = new Set(waiting.map((j) => j.data?.hashtagId))
+    // Skip hashtags already in-flight (waiting or active) to avoid pile-up
+    const inFlight = await priceUpdateQueue.getJobs(['waiting', 'active', 'delayed'])
+    const inFlightIds = new Set(inFlight.map((j) => j.data?.hashtagId))
 
-    const toQueue = hashtags.filter((h) => !waitingIds.has(h.id))
+    const toQueue = hashtags.filter((h) => !inFlightIds.has(h.id))
 
     for (const hashtag of toQueue) {
       await priceUpdateQueue.add(
         'update-price',
         { hashtagId: hashtag.id, tag: hashtag.tag },
-        { jobId: `price-${hashtag.id}` }, // deduplicate by jobId
+        {
+          // No static jobId — avoids silent dedup drops from stale Redis hashes.
+          // In-flight dedup is handled by the inFlightIds check above.
+          removeOnComplete: true,
+          removeOnFail: { count: 50 },
+          attempts: 3,
+          backoff: { type: 'exponential', delay: 5000 },
+        },
       )
     }
 
-    console.log(`[scheduler] queued ${toQueue.length} price-update jobs (${hashtags.length - toQueue.length} already waiting)`)
+    console.log(`[scheduler] queued ${toQueue.length} price-update jobs (${hashtags.length - toQueue.length} already in-flight)`)
   },
-  { connection },
+  { connection: redisOpts() },
 )
 
 // ── Error handlers ────────────────────────────────────────────────────────────
 
-for (const worker of [priceWorker, maintenanceWorker, schedulerWorker]) {
+// Worker-level connection errors (separate from per-job failures)
+for (const [name, worker] of [
+  ['price', priceWorker],
+  ['maintenance', maintenanceWorker],
+  ['fund-nav', fundNavSnapshotWorker],
+  ['scheduler', schedulerWorker],
+] as const) {
+  worker.on('error', (err) => {
+    console.error(`[${name}-worker] connection error:`, err.message)
+  })
   worker.on('failed', (job, err) => {
-    console.error(`[worker] job ${job?.id} failed:`, err.message)
+    console.error(`[${name}-worker] job ${job?.id} failed:`, err.message)
   })
 }
 
+priceWorker.on('stalled', (jobId) => {
+  console.warn(`[price-worker] stalled job ${jobId} — lock expired, will retry`)
+})
+
 // ── Repeatable jobs ───────────────────────────────────────────────────────────
 
 async function setupRepeatableJobs() {
+  // Always wipe existing repeatable registrations first so that:
+  //  - stale entries from old PRICE_UPDATE_INTERVAL_MINUTES values don't persist
+  //  - jobs exhausted by BullMQ retry limits get rescheduled cleanly
+  const [existingScheduler, existingMaintenance, existingFundNav] = await Promise.all([
+    schedulerQueue.getRepeatableJobs(),
+    maintenanceQueue.getRepeatableJobs(),
+    fundNavSnapshotQueue.getRepeatableJobs(),
+  ])
+  await Promise.all([
+    ...existingScheduler.map((j) => schedulerQueue.removeRepeatableByKey(j.key)),
+    ...existingMaintenance.map((j) => maintenanceQueue.removeRepeatableByKey(j.key)),
+    ...existingFundNav.map((j) => fundNavSnapshotQueue.removeRepeatableByKey(j.key)),
+  ])
+  if (existingScheduler.length || existingMaintenance.length || existingFundNav.length) {
+    console.log(`[worker] cleared ${existingScheduler.length} scheduler + ${existingMaintenance.length} maintenance + ${existingFundNav.length} fund-nav repeatable(s)`)
+  }
+
   // Price update sweep — every N minutes
   await schedulerQueue.add(
     'trigger-sweep',
     {},
     {
       repeat: { every: UPDATE_INTERVAL_MIN * 60 * 1000 },
-      jobId: 'price-sweep-repeatable',
     },
   )
 
-  // Daily maintenance — every day at 00:05 UTC
+  // Daily maintenance — every day at 00:00 Eastern (midnight)
   await maintenanceQueue.add(
     'daily-maintenance',
     {},
     {
-      repeat: { pattern: '5 0 * * *' },
-      jobId: 'daily-maintenance-repeatable',
+      repeat: { pattern: '0 0 * * *' },
+    },
+  )
+
+  // Hourly fund NAV snapshot — every 15 minutes
+  await fundNavSnapshotQueue.add(
+    'fund-nav-snapshot',
+    {},
+    {
+      repeat: { pattern: '*/15 * * * *' },
     },
   )
 
@@ -256,6 +539,7 @@ async function shutdown() {
   console.log('[worker] shutting down…')
   await priceWorker.close()
   await maintenanceWorker.close()
+  await fundNavSnapshotWorker.close()
   await schedulerWorker.close()
   await prisma.$disconnect()
   process.exit(0)