The Binding Note

Handfast issues 6,000,000 HAND. The whole issue sits in the Pair Book at launch. The Pair Book is Uniswap v4, Ethereum, ETH as quote. There is no second book and no second quote.

Each trade leaves a Window Share of two percent. No second take exists. Holding HAND is free. Sending HAND outside a trade is free. Two percent is the whole take.

The Window Share does not credit a wallet. It enters a Timed Hold. A Timed Hold is not spendable and is not owned by the deployer. It waits on two facts at once: the Gate Rule, and a Counter Fill.

The Gate Rule is a block deadline on the Live Window. Each transfer steps the Live Window forward. A Counter Fill is a trade the other way inside that same Live Window. Unbind requires both. If the deadline has passed and a Counter Fill occurred, the Timed Hold Unbinds. Those units become Closed HAND. Closed HAND leaves issue in that same write and is never issued a second time.

If the deadline passes with no Counter Fill, the Timed Hold does the Roll. The share moves into the next Live Window. It is not cancelled. It is not clawed back. It is not redirected. The next Live Window reads the same Timed Hold, still bound.

No party can Unbind a Timed Hold early. No party can point a Timed Hold at a different destination. No party can settle a Timed Hold out of turn. The live path is the only path.

Window Share, the Gate Rule, and the 6,000,000 HAND issue is sealed at construction. The deployer cannot move a Partner's HAND, cannot halt the Pair Book, and cannot mint Closed HAND back into issue.

A Partner can count on three facts. First, the issue is 6,000,000 HAND and it is already in the Pair Book at launch. Second, every trade they send leaves a Window Share of two percent that enters a Timed Hold. Third, that Timed Hold Unbinds into Closed HAND only when the Live Window and a Counter Fill agree; otherwise it Rolls.

Worked window. A Partner sells 500 HAND. The Window Share is 10 HAND. Those 10 HAND enter a Timed Hold for the current Live Window. If a Counter Fill occurs in that window and the Gate Rule is met, 10 HAND Unbind and become Closed HAND. If not, the 10 HAND Roll into the next Live Window, still held. The remaining 490 HAND are the sale.

This Binding Note is the full constitution as they stand. Where a figure is not named in this note, it is not a parameter of Handfast.