Proof object
An original structured source carrying a claim and the evidence its format supports. Integrity, authorship, ownership and external truth are distinct questions. A proof object can be an asset without every record being money or executable backing.
Balance, Reserve and Settlement
A balance presents the supported value in an account. Reserve records proof-backed funds. Settlement records proof-native value in exact Phi units with a supported dollar presentation. Automatic funding preserves their distinctions beneath one amount.
Note and custody
A funded Note carries its original source and applicable authority. Receiving proof, holding custody, confirmed account credit and permission for onward spending are different states. A preview or copied image establishes none of them on its own.
Valuation and price
A valuation is a supported calculation at a moment. A transaction price is an amount established by an actual transaction. Market capitalization aggregates defined valuations; it is not cash backing, liquidity or realized economic output.
Causal history and FIFO
Causal history connects a record to its supporting predecessors. Calculated FIFO attribution assigns the oldest available supported funding basis first. It explains pooled funds without claiming the original transfer recorded that individual allocation.
Conformance
A result against an identified contract, version and capability. Conforming requires the applicable evidence. Nonconforming requires an observed failure. Not assessed means evidence or assessment is absent. Out of scope identifies an excluded capability.
Moment and pulse
Local time is a familiar presentation of an event. Kai-Klok KKSv1 provides the protocol coordinate used by supported source and valuation rules. An exact pulse does not by itself prove exclusive consumption or prevent a copied authority from signing twice.
Method, sources and assessment
This explanation describes the supported implementation. Exact protocol requirements come from the pinned Receiz contracts and original sources. A reference result does not qualify a production deployment or a physical device.