Protocol Flow

• Cycle Starts: Pool is in ACTIVE state

• Deposit/Redemption: Users make deposit and redemption requests

• Offchain Rebalance: Can be initiated by anyone when market opens

• Onchain Rebalance: Can be Initiated by anyone when market closes

• LP Rebalancing: LPs rebalance the pool

• Cycle Completion: Pool is rebalanced, cycle advances

• Claim Phase: Users can claim assets or reserves

• Repeat: New cycle begins