A Value is a Term that cannot be reduced further — the end point of Reduction.
Reduction simplifies Terms step by step — Function applied to argument, substitution carried out, result evaluated. A Value is what remains when no more Reduction steps are possible: an irreducible Term.
Values are the syntactic analog of Stability: where Stability freezes the relational field’s structures so they can be revisited without drift, a Value is a Term that has settled — it computes to nothing further. Normalization guarantees that every Term reaches a Value: the evaluation process always terminates.
The observation stratum connects Values to witnessing: Values are what can be observed. Observation extracts what can be seen from a Term by evaluating it to a Value and witnessing the result.