Flow Specifications

This section documents every operational flow in the Vault-K-NO system as precise step-by-step sequences.

Flow Index

Flow	Trigger	Caller
Deposit	Investor deposits USDC	Investor
Withdrawal	Investor redeems shares	Investor + Keeper
Position Entry	Capital deployed into new market	Operator
Mark Settling	Market resolved — mandatory transition before closePosition	Operator
Position Settlement	Market resolves NO (success) — requires SETTLING status	Operator
Write-Off	Market resolves YES (loss) — callable from ACTIVE or SETTLING	Operator
Capital Rollover	Settled capital redeployed into new market	Operator
Rebase	Market probability shifts adversely	Operator
Emergency Liquidation	System paused, reserve depleted, no other option	Operator

Flow Interaction Map

Investor ──────── deposit() ──────────────────────► idleReserve increases
Investor ──────── requestWithdraw() ──────────────► queue entry
Keeper   ──────── processWithdrawals() ───────────► USDC out, shares burned
                                                     fee → HouseBuffer

Operator ──────── openPosition() ─────────────────► idleReserve decreases
                                                     MarketAdapter acquires NO shares
                                                     Slot → ACTIVE, accrual begins

Operator ──────── markSettling() ─────────────────► Slot → SETTLING
                                                     Gap on slot collapses to zero
                                                     Linear accrual frozen

Operator ──────── closePosition() ────────────────► Settlement USDC → idleReserve
                                                     Slot → EMPTY (requires SETTLING)

Operator ──────── writeOff() ─────────────────────► Slot → WRITTEN_OFF
                                                     NAV drops (full drop from ACTIVE,
                                                     small drop from SETTLING)

Operator ──────── reclaimSlot() ──────────────────► Slot → EMPTY (reusable)

Operator ──────── rebasePosition() ───────────────► Entry price lowered (ACTIVE only)
                                                     Accrual restarts from new base

Operator ──────── emergencyLiquidate() ───────────► NO shares sold at market
                                                     USDC → idleReserve
                                                     System may unpause