Regime Landscape

Surface: Pe_eff(c_low, f)
X = speculator constraint c_low
Z = stablecoin fraction f (0→1)
Bull (transparent) over Bear (solid).
Gold ribbon = bull/bear gap at ETH c_low.
White tube = Pe = 1 critical line.

Pe gradient (low → high)

Bull surface (breathes)

Bear surface (solid)

Bull/bear gap (Δc=0.007)

Pe = 1 boundary

EXP-021C bull points

EXP-021C bear points

c_eff = f·0.70 + (1−f)·c_low
Pe = 16·sinh(2·(0.867 − c_eff·2.244))
Δc = 0.007 (bull→bear shift)

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