Protected floor
Separating dividend growth from principal, in stock units.
The idea
A position's displayed quantity mixes two things: the units the holder put in, and the units dividends added. Corpact tracks a protected floor, the stock-quantity principal, so the dividend-attributed part is always known:
available to convert = displayed quantity − protected floor (rounded toward zero)| Event | Displayed | Protected floor | Available |
|---|---|---|---|
| Deposit 100 | 100.00 | 100.00 | 0.00 |
| Dividend (+0.35%) | 100.35 | 100.00 | 0.35 |
| 2-for-1 split | 200.70 | 200.00 | 0.70 |
Rules
- Deposits raise the floor by the displayed quantity received.
- Withdrawals consume available units first, then the floor.
- Verified dividends raise the displayed quantity and leave the floor unchanged.
- Splits scale the floor by the split factor: a split is never income.
- Unclassified adjustments move quantity with no income attributed.
The floor is an exact rational, never a float, and availability rounds toward zero. The API never shows more convertible exposure than exists.
Availability is gated
availableQuantity is null when replay did not complete. Conversion itself is not enabled in this release, and conversionDisabledReasons always explains why a position cannot convert:
- Release gating: conversion is not enabled in this release.
- Replay or reconciliation: replay did not complete, or reconciliation found a mismatch.
- Recent correction: a recent issuer correction pauses conversion for 7 days of review.
- Provider disagreement: an independent RPC provider disagrees on the balance or the mint state.