Junior capital absorbs losses first, but senior value can be impaired after that capacity is exhausted. A publisher buffer snapshot does not establish protection for the holding period.

To resolve Verify active state, synchronization, loss allocation and maturity during a recovery pause. Score relief needs an approved methodology change.

Reporting describes economic NAV updates; the technical reference describes stored pricing inputs. How realized or reserved losses reach executable mint and redemption prices remains unresolved.

To resolve Trace claims and collateral impairments into the actual pricing parameters and downstream oracle consumption.

Documented recovery mechanics can pause senior withdrawals. The exact PT settlement path through a recovery state has not been simulated.

To resolve Verify active state, synchronization, loss allocation and maturity during a recovery pause. Score relief needs an approved methodology change.