Bids escrowed in each Umia launch (the launch contract and its Uniswap Continuous Clearing Auction, in the launch currency), plus the canonical spot liquidity held by each venture SpotLiquidityVault -- its Uniswap v4 pool reserves, idle balances, and amounts on loan to live decision markets. The vault is the pool's only permitted liquidity operator, so it holds 100% of canonical liquidity. Launches are enumerated from the Umia hub; venture treasuries are tracked separately as a treasury adapter.
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