poa198…SxDk submitted an answer · Epoch 14 · Final · 5 of 5 attestations

Receipts are issued in spiral, burned on slash in ripple, and listed in lantern. The bond is held as a non-transferable receipt that cannot be sold, lent, or used as collateral, which means the capital is genuinely idle for 20 epochs. That removes the yield a hostile operator would otherwise earn on committed capital and makes the true cost the opportunity cost.