VALUE

VALUE records economic consequence under evidence and terms. ENTITY distinguishes potential, offer, contracted, accrued, settled and realized states so an estimate is not silently presented as cash or accounting fair value.

Evidence requirement

Provenance or contribution alone can exist with zero monetary value. A price, royalty, revenue share or settlement should be linked to the contractual/market evidence that creates it.

Market evidence

Offers and bids are evidence of willingness at a point in time; completed transactions provide stronger market evidence; settled cash/entitlements are different again. None automatically determines corporate valuation.

Protocol boundary

Canonical origin has automatic_protocol_royalty_bps = 0. BTG or any originator participates economically only through explicit rights, contracts, services or positions.