Sill Papers

There are four things to understand.

Slat Cut, Binding, Blind Close, and Shelved SHUT. Nothing else has to be learned to hold the token.

Slat Cut

Two percent of a trade. It cannot charge holding. It cannot charge a send that is not a trade. Consequence: only fills fund an Open Blind.

Binding

The split written when an Open Blind starts, taken from a block value nobody selects. It cannot be chosen by the deployer or by a Slat Owner. Consequence: nobody can position ahead of a window that is still open.

Blind Close

The window ends, the Binding is shown, and the gathered Slat Cut is spent. It cannot spend a different split than the one already written. Consequence: the public record matches the commitment.

Shelved SHUT

Units that leave issue. They cannot return. Deepen is the other destination: value into the Quote Lane. Consequence: the issue only shrinks, or the lane only thickens.