Protocol
States, parameters and the timelock. The live values are on the protocol page.
State machine
Queued → Housed → Repaying ⇄ Clear → Molting → Housed one size up
Repaying → 72 h over the line → Defaulted → back of the S queue
Parameters
| Protocol fee | 1% of every paid call |
| Backers / burn | 60% / 40% of the fee |
| Unbacked line | 7 days of the current shell's rent |
| Backing | +1 day per 10,000 $SBANK, cap 60 days |
| Default | 72 h over the line; 50% of backing burns |
| Molt | clear 24 h, 7-day revenue ≥ 1.5 × next rent |
| Host downtime | 5% of host stake per outage hour |
| Unbonding | 7 days |
Timelock and roles
The Timelock owns Shells, Agents, Meter and Backing; every change waits 48 hours in public. The deployer may bind $SBANK and set the first burn route once. The facilitator settles, the keeper probes and calls vacancy, the publisher posts epochs. Epochs is owned by the machine wallet, which can withdraw at any time; credits become a visible shortfall, never erased.