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release: 2.50.4 — docs strip pass: hosted-mode merged, router events+markets merged, builder-first tone
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changelog.md

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All notable changes to this project will be documented in this file.
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## [2.50.4] - 2026-06-18
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### Docs
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- **Strip pass — Documentation tab from 23 pages to 18, hosted-mode story told once instead of four times.** Three parallel agents and a cross-reference cleanup pass.
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- **Hosted mode merged into one page.** `docs/concepts/hosted-trading.mdx` now absorbs `hosted-vs-self-hosted.mdx` (as a "When to switch to self-hosted" section, table preserved) and `hosted-custody.mdx` (as a "Custody: PreFundedEscrow" section, with deployed contract addresses, operator addresses, audit status, and the non-pausable / unilateral-withdrawal trust model preserved). Deleted `docs/concepts/hosted-vs-self-hosted.mdx` and `docs/concepts/hosted-custody.mdx`. Softened the "treat as unaudited DeFi primitive, only fund what you can afford to lose" YOLO framing into "non-pausable contract, unilateral withdrawal always available even if PMXT is down" — same facts, builder-readable framing.
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- **Router events + markets merged into one page.** `docs/router/search.mdx` replaces `docs/router/events.mdx` and `docs/router/markets.mdx`, which were ~80% identical (same filter table, same example shape, only nested-vs-flat differed). One filter table, one example per shape, kept the events-vs-markets decision callout. `docs/router/event-matching.mdx` was checked against `docs/router/matching.mdx` and left alone — they document parallel but distinct endpoints (`fetchMatchedEventClusters` vs `fetchMatchedMarketClusters`).
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- **`docs/concepts/catalog-vs-live.mdx` deleted.** It described an internal fallback decision tree (catalog Postgres vs live venue pass-through) that the SDK abstracts transparently. The two-sentence essence was absorbed into `docs/concepts/unified-schema.mdx` as a `<Note>` callout. The four `docs/api-reference/fetch-{event,events,market,markets}.mdx` pages had their `[Learn more](/concepts/catalog-vs-live)` link retargeted to `/concepts/unified-schema`.
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- **`docs/mcp.mdx` trimmed from ~200 lines to 34.** The page was a full tool-by-tool walkthrough of an integration surface that ~10% of users hit. Now: one paragraph of what-it-is, the `.mcp.json` snippet for Claude Code, one-liner pointers for Cursor / custom clients, and a link out. Tooling deep-dive belongs in an MCP reference page, not the core docs landing.
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- **`docs/sdk/server.mdx` trimmed to 21 lines.** The start/stop/restart/status/health/logs walkthrough moved to a pointer at the GitHub README. The page exists so the nav link still resolves and so self-hosted users land on a clear hand-off.
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- **`docs/trading-quickstart.mdx` reframed for app builders.** The "use a dedicated trading wallet" Warning was framed as personal hot-wallet hygiene ("treat the wallet as compromised if the host is ever compromised"); builders reading that took it as "PMXT is dangerous." Now framed as "non-custodial by construction, users keep their own keys, SDK signs locally" — practical advice about using a small float wallet for prod preserved, fear framing dropped. The Polymarket 5-share minimum and budget-capped market order passages were framed as trader gotchas; now framed as "what PMXT abstracts vs what leaks through from the venue." Trimmed ~60 lines of hosted-mode preamble that duplicated the concept page.
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- **`docs/security.mdx` shortened ~35%.** Same wallet-language softening. The venue-credentials table duplicated content in `/concepts/venues` — replaced with a one-line link. Dropped the "compromised PMXT server" speculation and a stray code block inside a Note. Three `/concepts/hosted-custody` links retargeted to `/concepts/hosted-trading`.
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- **`docs/guides/signing.mdx` stripped to the SDK-default flow.** The full EIP-712 domain/typed-data spec and the Opinion dual-signature mechanics were removed from the main flow (almost no caller hand-writes typed data — the SDK auto-wraps `private_key` into a signer). Kept "what the SDK does for you," the reads-without-signature section (load-bearing for the trust model), and a trimmed "Advanced: bring your own signer" with one sentence on Opinion dual-sign for BYO-signer integrators. Deleted the `BuiltOrderExpired` / `InvalidSignature` pitfall callouts — runtime errors belong in `/guides/hosted-errors`.
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- **`docs/guides/self-hosted.mdx` reordered decision-first.** Previously led with install steps; now leads with "when self-hosted is the right call" (sub-100ms latency, raw venue creds, regulatory custody, unsupported venues for writes) and "when hosted is still the better choice" (everyone else). Install / construct / per-venue credential content unchanged, just demoted below the decision content. Wallet-language softened. Two `/concepts/hosted-vs-self-hosted` links retargeted to `/concepts/hosted-trading`.
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- **`docs/guides/migrate-to-hosted-trading.mdx` demoted from ~293 lines to ~69.** Retitled "Coming from Polymarket's official SDK." Leads with a Note telling readers who aren't already using `@polymarket/clob-client` to skip the page. Kept the two load-bearing tables (credential mapping, signatureType mapping) and a compressed USDC.e / allowance / catalog-UUID / rollback summary. The full prose intro about the Polymarket auth model was the bulk of what got cut.
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- **`docs/sql.mdx` reframed for app builders.** Lead paragraph and the OHLCV example were written for quants doing tick-level backfills. Now framed as "historical data backend for your app's charts, dashboards, and analytics" with an in-app chart query (Recharts / lightweight-charts shape) instead of a backfill loop. No new sections.
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- **Cross-reference cleanup.** `docs/docs.json` Concepts group lost three entries (`catalog-vs-live`, `hosted-custody`, `hosted-vs-self-hosted`); Router Search group went from two pages (`events` + `markets`) to one (`search`). Six remaining cross-refs across `introduction.mdx`, `quickstart.mdx`, `router/overview.mdx`, `concepts/prediction-markets-101.mdx`, `api-reference/overview.mdx`, and `api-reference/configuration.mdx` were retargeted to the merged destinations (`/concepts/hosted-trading#when-to-switch-to-self-hosted`, `/router/search`, `/concepts/unified-schema`). `llms.txt` and `llms-full.txt` deliberately left alone — they'll be regenerated by the `docs-sync-check` workflow on the next push.
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## [2.50.3] - 2026-06-18
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### Docs

docs/api-reference/configuration.mdx

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- [Authentication](/authentication) — API keys and venue credentials.
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- [Self-hosted](/guides/self-hosted) — running pmxt-core locally.
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- [Server Management](/sdk/server) — local server lifecycle.
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- [Hosted vs self-hosted](/concepts/hosted-vs-self-hosted) — when each mode applies.
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- [Hosted vs self-hosted](/concepts/hosted-trading#when-to-switch-to-self-hosted) — when each mode applies.

docs/api-reference/fetch-event.mdx

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<Info>
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**Faster with an API key** — With a PMXT API key this endpoint is served from an indexed catalog (~10 ms) instead of proxying to the venue (~500 ms). No code changes required — same request, same response, just faster. [Learn more](/concepts/catalog-vs-live).
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**Faster with an API key** — With a PMXT API key this endpoint is served from an indexed catalog (~10 ms) instead of proxying to the venue (~500 ms). No code changes required — same request, same response, just faster. [Learn more](/concepts/unified-schema).
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## Use cases

docs/api-reference/fetch-events.mdx

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<Info>
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**Faster with an API key** — With a PMXT API key this endpoint is served from an indexed catalog (~10 ms) instead of proxying to the venue (~500 ms). No code changes required — same request, same response, just faster. [Learn more](/concepts/catalog-vs-live).
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**Faster with an API key** — With a PMXT API key this endpoint is served from an indexed catalog (~10 ms) instead of proxying to the venue (~500 ms). No code changes required — same request, same response, just faster. [Learn more](/concepts/unified-schema).
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## Use cases

docs/api-reference/fetch-market.mdx

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<Info>
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**Faster with an API key** — With a PMXT API key this endpoint is served from an indexed catalog (~10 ms) instead of proxying to the venue (~500 ms). No code changes required — same request, same response, just faster. [Learn more](/concepts/catalog-vs-live).
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**Faster with an API key** — With a PMXT API key this endpoint is served from an indexed catalog (~10 ms) instead of proxying to the venue (~500 ms). No code changes required — same request, same response, just faster. [Learn more](/concepts/unified-schema).
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## Use cases

docs/api-reference/fetch-markets.mdx

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<Info>
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**Faster with an API key** — With a PMXT API key this endpoint is served from an indexed catalog (~10 ms) instead of proxying to the venue (~500 ms). No code changes required — same request, same response, just faster. [Learn more](/concepts/catalog-vs-live).
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**Faster with an API key** — With a PMXT API key this endpoint is served from an indexed catalog (~10 ms) instead of proxying to the venue (~500 ms). No code changes required — same request, same response, just faster. [Learn more](/concepts/unified-schema).
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docs/api-reference/overview.mdx

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The envelope is identical whether a call was served from the
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[catalog](/concepts/unified-schema) or forwarded live to the venue —
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clients cannot tell the difference.
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## Interactive try-it-out

docs/concepts/catalog-vs-live.mdx

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