Series and continuity.

One continuous number, a fresh window twice a year. Windows are two year rounds opening every March and September. Your pair belongs to its window from mint to settlement.

One number across many series.

The reference market launches a new series every six months, and old ones keep trading. You do not pick one.

Windows.

• A window opens each March and September and settles two years later.
• Only the newest window mints, so trading concentrates there.
• Older windows keep trading but stop minting. At most three older windows exist.
• Each window publishes its floor and cap before it opens, set by the published calibration rule and frozen at open.

The roll.

Nothing about your position rolls. When a new window opens, the old one keeps trading and merging until its own settlement; a holder who wants exposure to the new window sells one and buys the other, at market prices, whenever they choose. The continuity lives in the number: the administrator's methodology carries the reference market's series roll inside the official index, so settlement always reads one continuous published level.

Stated plainly.

There is no futures curve in v1: one number, one minting window, one book.