50% of supply seeds a single-sided FWA/ETH Uniswap v4 position at genesis, modeled as unlocked at TGE
Emissions started 2026-07-20 (when acquisitions were first enabled) and run for 15 days
Depositor rewards are tracked at accrual (settled per listing on claim, reprice, or removal) and purchaser rewards are tracked at claim, so both lag the underlying 1%/day streams
Post-emission fee buybacks route bought-back FWA to depositors, purchasers, and burn, this is recirculated supply and is not tracked as here.