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+tvix-eval VM loop
+=================
+
+Date: 2023-02-14
+Author: tazjin
+
+## Background
+
+The VM loop implemented in `src/vm.rs` currently has a couple of functions:
+
+1. Advance the instruction pointer and execute instructions, in a loop
+   (unsurprisingly).
+
+2. Tracking Nix call frames as functions/thunks are entered/exited.
+
+3. Catch trampoline requests returned from instruction executions, and
+   resuming of executions afterwards.
+
+4. Invoking the inner trampoline loop, handling actions and
+   continuations from the trampoline.
+
+The current implementation of the trampoline logic was added on to the
+existing VM, which recursed for thunk forcing. As a result, it is
+currently a little difficult to understand what exactly is going on in
+the VM loop and how the trampoline logic works.
+
+This has also led to several bugs, for example: b/251, b/246, b/245,
+and b/238.
+
+These bugs are very tricky to deal with, as we have to try and make
+the VM do things that are somewhat difficult to fit into the current
+model. We could of course keep extending the trampoline logic to
+accomodate all sorts of concepts (such as finalisers), but that seems
+difficult.
+
+There are also additional problems, such as forcing inside of builtin
+implementations, which leads to a situation where we would like to
+suspend the builtin and return control flow to the VM until the value
+is forced.
+
+## Proposal
+
+We rewrite parts of the VM loop to elevate trampolining and
+potentially other modes of execution to a top-level concept of the VM.
+
+We achieve this by replacing the current concept of call frames with a
+"VM context" (naming tbd), which can represent multiple different
+states of the VM:
+
+1. Tvix code execution, equivalent to what is currently a call frame,
+   executing bytecode until the instruction pointer reaches the end of
+   a chunk, then returning one level up.
+
+2. Trampolining the forcing of a thunk, equivalent to the current
+   trampolining logic.
+
+3. Waiting for the result of a trampoline, to ensure that in case of
+   nested thunks all representations are correctly transformed.
+
+4. Trampolining the execution of a builtin. This is not in scope for
+   the initial implementation, but it should be conceptually possible.
+
+It is *not* in scope for this proposal to enable parallel suspension
+of thunks. This is a separate topic which is discussed in [waiting for
+the store][wfs].
+
+## Alternatives considered
+
+1. Tacking on more functionality onto the existing VM loop
+   implementation to accomodate problems as they show up. This is not
+   preferred as the code is already getting messy.
+
+2. ... ?
+
+
+[wfs]: https://docs.google.com/document/d/1Zuw9UdMy95hcqsd-KudTw5yeeUkEXrqOi0rooGB7GWA/edit