A vendor [catalyst] is a juker [server state] that vends a token and introduces ("spends") it into an economy by way of a coupon (on a shared "peer-to-peer" router). The time for exit (ie. merchant acceptance of coupon) is correlated to earned ¢ents (1 ¢ent = 1 second).
A vendor's status is active only and immediately after an opus closes🔒 (ie. ¢ents become transferable when a yield is obtained). (see also Black and White, parimutuel, coupon, Double U economics, tip)

Note (+): Vended ¢ents (hypocurrency) are introduced ("spent") at the point-of-distribution with a merchant.