I'm a little unclear on how the Binding Coil works, so I thought I'd try to post my understanding here to see if it can be corrected:

1. You may enter the Binding Coil and spam it as much as you want each week until you receive a treasure that week. After receiving a treasure, you may not enter at all by any mechanism until the following Monday.

2. If you have access to the Binding Coil, you may enter at any Turn of the Coil, provided that the party leader currently is "at" it.

3. You personally progress through the Coil by clearing each Turn in progression.

4. Each Monday, all players return to having only Turn 1 access.

Follow-up Question: If I start by doing Turn 2 with someone (i.e., as my very first Coil experience, because the party leader was already on Turn 2) and we won, would I subsequently be on Turn 3, or would I be on Turn 1?

The system seems very strange, so I am assuming that I have misunderstood something.

Thank you in advance for any helpful clarification.