> For the complete documentation index, see [llms.txt](https://black-sheep-finance.gitbook.io/black-sheep-finance-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://black-sheep-finance.gitbook.io/black-sheep-finance-docs/core-concepts/overview.md).

# Overview

Four primitives. That's the whole product.

```
Wallet  ──has──▶  Policy  ──gates──▶  Transaction
                     │
                     └──may trigger──▶  Approval  ──fires──▶  Webhook
```

## Wallet

A Solana keypair owned by your account. Two kinds:

* **User wallet** — for you / your treasury.
* **Agent wallet** — for an AI agent, bot, or service. Always policy-gated.

See [Wallets](/black-sheep-finance-docs/core-concepts/wallets.md).

## Policy

A set of rules attached to a wallet that decide whether a spend is **allowed**, **blocked**, or **requires human approval**.

```
daily_limit_usdc        — cumulative cap per 24h
max_tx_usdc             — hard ceiling on a single tx
approval_threshold_usdc — any tx ≥ this needs human OK
allowlist               — if non-empty, only these recipients are valid
```

See [Policies](/black-sheep-finance-docs/core-concepts/policies.md).

## Approval

When a spend hits the approval threshold, the transaction is **not** sent. Instead an `approval` row is created, an `approval.pending` webhook fires, and a human acts on it via the dashboard, Slack, or the API.

See [Approvals](/black-sheep-finance-docs/core-concepts/approvals.md).

## Transaction

The on-chain result: a Solana signature, an amount, a counterparty, and a status (`confirmed`, `failed`, `pending`). Stored both in the ledger and on-chain.

See [Transactions](/black-sheep-finance-docs/core-concepts/transactions.md).


---

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