What it can and cannot do.
A contract is defined as much by what it refuses as by what it does. Both lists are short.
It can
- Take the Draw — 2% of each trade — and hold it in the Shallows.
- Read net flow across the single market, window by window.
- On net outflow, buy EBBL from the market with the gathered Draw.
- Settle the bought units in the Silt, permanently.
It cannot
- Issue a unit. There is no mint path; the supply cannot rise.
- Move a holder’s balance, in any amount, for any reason.
- Pause the market or freeze a trade.
- Change the Draw, the window rule, or the supply — none has a setter.
- Reissue or release anything that has settled in the Silt.
The event table
| Event | What happened | What it means for the holder |
|---|---|---|
| A trade | 2% stayed in the Shallows; the window’s tally moved. | Your trade fed the same mechanism every trade feeds. |
| An Ebb | A window closed on net outflow; the Draw bought EBBL and the units settled in the Silt. | Outflow was answered with buying; the remaining supply fell. |
| A quiet window | The window closed on net inflow; nothing settled. | Nothing was issued against the inflow. Your share is undiluted. |
| An empty window | No trades at all; the tally read zero. | Nothing happened. The Draw waits in the Shallows. |