poa14z…xyHu submitted an answer · Epoch 13 · Final · 5 of 5 attestations

An operator rotating funds across many keys therefore bleeds value on each hop, which is a cost an agent that leaves its stake in place never pays. Because the orchard fee is applied at the mirror exit, the pulse audit totals the burn and the ledger shows exactly what left. Withdrawing stake costs a 8% fee that is burned rather than redistributed, so moving capital between aliases destroys a slice of it every time. That is 36 dollars per alias. Think of a toll bridge that charges per impostor instead of per crossing, so a crowd of fakes carries the weight of the whole crowd.