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Value flow

On a buy​

ETH in
 ├─ tax (3%, or more during the launch window) ──→ creator, in ETH
 └─ the rest ──→ buys CVN from the pool

On a sell​

CVN in (1000)
 ├─  30 ──→ tax, realised in ETH ──→ creator
 ├─ 194 ──→ the distributor, credited as a bond to the seller
 └─ 776 ──→ the pool; the ETH proceeds go to the seller

CVN in (1000), from the seller's own wallet, inside their exemption allowance
 ├─  30 ──→ tax, realised in ETH ──→ creator
 └─ 970 ──→ the pool; the ETH proceeds go to the seller
             (exempt: nothing routes to the distributor, no bond minted)

Into and out of the reward pool​

IN                                          OUT
 the 20% reserve, in 5% tranches        ──→  daily rewards to bond holders
 tokens committed to open bonds         ──→  (claim, or compounded in place)
 the 20% retained from non-exempt sells

Note what is absent from the left column: trading fees. The bonds and the creator tax are separate systems that never touch.

What can never move​

  • The liquidity position has no removal path. Seeded liquidity, and the 0.01% pool fees it accrues, stay in the pool permanently.
  • A bond's principal is never returned. It is a basis for computing rewards.
  • The vault can only ever send tokens to the frozen distributor address.