docs(bonds): retract stale 'maturity-only auction' scope claim

The §"Intentional scope choices (NOT follow-ups)" subsection still listed
"Maturity-only auction (no pre-maturity liquidation)" and referenced a
§"Why maturity-only auction" section that no longer exists — this dates
from before the margin-call (liquidate) addition and directly contradicts
the rest of the spec (the whole §"Margin call vs. auction" section, the
phased lifecycle that places liquidate in REPAY, the liquidate settlement
math at §124-146, the Roles table giving the auctioneer both paths, the
Trust-model row covering both settlement paths, and the contract source
itself which has had a working liquidate function and liqThresholdBps
constructor param since 2f67287).

Replace the stale bullet with the actual intentional scope choices:
- both margin call AND auction (Christian's pooled/fungible design needs
  margin call; Dmitri-style 1:1 wouldn't)
- no partial liquidation (full close only; partial would be a follow-up
  paralleling partial repays E1)

No code change. Other docs / PR description / contract headers /
playground audited at the same time and confirmed current.

https://claude.ai/code/session_013U1kfFDEPH91g5VnPTmKD4

Author: claude

docs/bonds.md

@@ -425,7 +425,8 @@ These are deliberate properties of the design, not deferred work:
 
 - **One pool per maturity.** Liquidity fragmentation is a feature, not a bug; secondary markets (via the order book) compose multiple maturities into the desired yield curve.
 - **`maturity` and `auctionWindow` immutable.** The whole product is a fixed-term bond; making them mutable would re-introduce a privileged role.
-- **Maturity-only auction (no pre-maturity liquidation).** See §"Why maturity-only auction" above.
+- **Both margin call AND auction (not one or the other).** Margin call closes insolvent vaults pre-maturity to preserve credit-token fungibility; auction closes defaulted vaults post-maturity. See §"Margin call vs. auction (solvency vs. default)" above — Dmitri-style 1:1 lending could drop margin call (each lender bears their own counterparty risk) but this pooled/fungible design cannot.
+- **No partial liquidation.** `liquidate` closes the WHOLE vault; there is no Aave/Morpho-style close factor. Documented as a sharp edge; a partial-liquidation extension is follow-up E6 (not enumerated above; would parallel partial repays E1).
 
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