Buybacks

Subscription ETH is the only protocol revenue.

Creator  --ETH-->  QuiverSubscription
                 --ETH-->  QuiverBuyback
                 --buy-->  PONS (QUIVER venue)
                 --QUIVER-->  QuiverTreasury

QuiverTreasury holds bought tokens. There are no silent withdrawals in v1.

If the $QUIVER address is unset, or PONS cannot be read, or the launch has graduated and the v4 path is not wired, ETH stays in the buyback contract. Anyone may call executeHeld() after the venue is ready.

Creator-token volume never enters this path.