Notes
The mark is not the token.
Look at a book that charges everyone the same, and a book that charges everyone the same but routes the charge by how long the wallet has stayed. Same cut. Different destination. That is the whole distinction.
Now look at Vouchstone. The ETH Market is Uniswap version 4, Ethereum, quoted in ETH. The issue is 90,000 VOUC, all of it in that book at launch. A trade takes a Trade Cut of 2%. Standing on the sending wallet chooses Supply Rest or Book Thicken. Standing is not VOUC. VOUC moves. Standing does not.
People reach for a transferable badge when they hear “mark.” That instinct is the error. If Standing could be sent, it would be another token, and the cut would be decided by whoever bought the badge last. Vouchstone forbids that. The mark accrues by Hold Span. It ends at a zero balance. It cannot be bought.
Consequence: a long Stone Holder who trades retires units. A wallet with no mark who trades deepens the book. The 2% figure is the same. The destination is the only thing the mark decides.
The token is VOUC. The mark is Standing. Invert the title and it still holds: the token is not the mark.