Build the position.

Bitcoin moves and your LTV jumps. If it crosses the line the engine recalls whatever is liquid in your venues and puts it against the debt — only enough to get back under the line, not the whole loan — and only the shortfall is taken out of your bitcoin. So a venue’s recall number is the whole game: it is the share that actually comes back when it is asked, cooldowns and queues already priced in. That is why the highest-yield board is so rarely the best board.

Ranked by floors survived, then by what you actually made — yield banked minus the market value of the bitcoin you had to sell. Gross yield never ranks on its own: banking $1,070 while selling 0.7 BTC is a loss wearing a profit’s clothes, and floors gate everything so nobody out-earns a death. Only runs on the daily seed rank — everyone faces the same drawn floors, so the board is a fair fight. A run on any other seed still settles and still teaches, but it sits below the line as practice, unranked. The two reference rows are methods, not firms, and are illustrative lines rather than anyone’s track record. They disagree on purpose: one constrains how much you borrow and lets the venue mix be wide, the other constrains which venues you will touch and sizes up on the strength of that vetting. Both are re-run against the floors the loaded seed actually drew — through the same engine as your board — so their lines move with the challenge: a method that cleared eight floors on one seed can die on three the next.