Passive liquidity and hooks

Passive liquidity is a separate custody claim from active Spot reserves. Bands create synthetic liquidity with priority over ordinary FIFO orders at the same price. Principal, fees, growth, checkpoints, burns, and claims must reconcile separately from spotReservedBalance.

Post-fill hooks are boundary-triggered and synchronous. Hook failure is isolated from matching, while successful replenishment may occur repeatedly in a single taker action. Integrators must budget gas and treat maker-controlled hook behavior as an external trust boundary.

Use Spot markets for the full lifecycle and events and indexing for reducer behavior.