Validated_string.MakeMake returns an interface that exposes the fact that t = string so this equality can be used by other functions in the implementation. However, the expected pattern is that such equality is hidden by the inclusion of S in the mli of a validated string. See Author for an example.
Given that t = string in the implementation, this function is just the identity.
val of_string : string -> (string, [ `Msg of string ]) Volgo_stdlib.Result.tof_string str returns Ok str if X.invariant str = true, and an error otherwise. This is meant to be used to validate untrusted entries.