Part IV · The Capital Structure · Chapter 8 of 14
Amplification, Not Leverage
Why the stack is not margin debt: overcollateralization, no maturity dates, no forced liquidation, and asymmetric exposure.
Where this sits
The Capital Structure
Measure in Sats builds its argument the way geometry builds proofs: simple primitives first, then each layer cites the ones before it. This chapter is part of Part IV — The Capital Structure. The full chapter is in the book; the chapter preview shows how all fourteen fit together, and the optionality layer and public explorer show the framework applied to live filing data.
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