bond auctions should be on chain and public

TAAPS is public if you are going to participate in auctions as an institution. Even with non-competitive bids.

“… an institution or organization with a unique IRS-assigned employer identification number, such as an association, church, university, union, or club.”

TAAPS is public if you are going to participate in auctions as an institution. Even with non-competitive bids.

“… an institution or organization with a unique IRS-assigned employer identification number, such as an association, church, university, union, or club.”

https://treasurydirect.fiscal.treasury.gov/help-center/additional-auction-related-faqs/

Huh, pretty cool! Didn't know! But only if you're participating?

I didn't know there was a competitive/non competitive two tier system.