Sill Papers

The Blind in practice.

Two windows, traced to the unit. The Binding is unknown until Blind Close. The arithmetic below is the Slat Cut only.

A window with many trades

Ten trades of 100 SHUT each. Each leaves a Slat Cut of 2 SHUT. The Open Blind gathers 20 SHUT. Blind Close shows the Binding and spends that 20 SHUT between Shelved SHUT and Deepen. A Slat Owner who sold 100 SHUT received 98 SHUT of value after the take. The Binding was already written before those fills could be aimed at it.

A window with no trades

The Open Blind still writes a Binding. Blind Close still shows it. Gathered Slat Cut is empty, so nothing is spent. The issue stays 40,000 SHUT. The Quote Lane does not move. The next Open Blind writes a new Binding from a later block value.