Cards level on fills, never on time. Each stage tightens the band and grows the inventory.

A card counts every fill whose price landed inside its band. At 25, 100 and 400 fills it evolves. Evolving tightens the band around the current price by the stage factor and adds half of the card's inventory again, paid half from the card's own realized gain and half from the vault. If either side cannot pay, the card enters the evolving state and waits for the next fill on which both can. It keeps quoting while it waits.

These cards have crossed a fill threshold and are waiting for funding. The vault pays its half the moment it has it, which is always after a trade.