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Waxell is the governance plane for agentic systems in production. Agents make real decisions with real consequences — without governance, failures compound silently, costs go unchecked, and compliance gaps widen. Waxell provides two things most agent infrastructure lacks: full observability into what agents are doing — every decision, tool call, and reasoning step — and governance over what they're allowed to do. Enforce policies before, during, and after execution — warn, block, or redact in real time. Deterministic control over probabilistic behavior. MCP-native. Competitors: LangSmith, Helicone, Arize Phoenix, Braintrust.