diff --git a/copybot.py b/copybot.py
index c4716ddf..b0b6367f 100644
--- a/copybot.py
+++ b/copybot.py
@@ -1713,16 +1713,15 @@ class Copybot:
         bankstr = f" · banked ${reserve:,.0f}" if reserve else ""
         drift = self.ledger_drift()
         gap = self.chain_cash_gap()
-        # ponytail: auto-anchor to chain - proxy instability causes untracked
-        # fills leading to LEDGER DRIFT and CASH≠CHAIN. Two corrections:
-        # 1. If chain cash differs from book cash -> set book cash = chain
-        # 2. If ledger still drifts after cash correction -> absorb into adjustments
-        # Ceiling: this masks real bugs if a position is truly untracked, but
-        # the chain balance already reflects all real positions' cost.
-        if self.engine.ex.live and gap is not None:
+        # ponytail: auto-anchor cash to chain when CASH≠CHAIN > $1. Proxy
+        # instability causes untracked fills; the chain is the source of truth.
+        # NOTE: do NOT try to auto-fix LEDGER DRIFT via adjustments - it creates
+        # a feedback loop (adjustment changes the drift calc, which doubles the
+        # drift next heartbeat, exponentially). LEDGER DRIFT is a cosmetic
+        # accounting issue that doesn't affect trading; just warn on it.
+        if self.engine.ex.live and gap is not None and abs(gap) > 1.0:
             chain_bal = self._chain_bal[1]
             book_cash = self.engine.state.get("cash", bank)
-            # 1. anchor cash to chain
             if chain_bal is not None and abs(chain_bal - book_cash) > 1.0:
                 self.engine.state["cash"] = chain_bal
                 self.engine.state.setdefault("adjustments", []).append({
@@ -1734,18 +1733,6 @@ class Copybot:
                 log(f"chain anchor: book cash ${book_cash:.2f} -> chain ${chain_bal:.2f} "
                     f"(gap ${gap:+.2f}, auto-corrected)")
                 gap = 0
-                drift = self.ledger_drift()
-            # 2. absorb residual ledger drift into adjustments
-            if abs(drift) > 0.50:
-                self.engine.state.setdefault("adjustments", []).append({
-                    "ts": time.time(),
-                    "amount": -drift,
-                    "note": f"auto-absorb ledger drift ${drift:+.2f}"
-                })
-                self.engine.persist()
-                log(f"auto-absorb ledger drift ${drift:+.2f} (untracked fill, "
-                    f"chain cash OK at ${chain_bal:.2f})")
-                drift = 0
         driftstr = f" · ⚠ LEDGER DRIFT ${drift:+.2f}" if abs(drift) > 0.05 else ""
         if gap is not None and abs(gap) > 0.5:
             driftstr += f" · ⚠ CASH≠CHAIN ${gap:+.2f}"