Conversation

If you have universe polymorphic constants in a functor, you get a type signature with non-prenex universe polymorphism. It's *probably* fine, but there's no set model for it yet and (in Coq anywayt) no syntax, either, precluding records as modules. Hopefully, that'll change!
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Yeah, I've seen it :) No, this is something that wasn't even originally intended to be *possible* in Coq, so no, people aren't screaming urgently for a use case here. You are going to want a module system of some sort, of course, but be careful... dependent types are tricky.
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My pain at the moment is `record { t = String, x = "hello" } : Record { t : Type, x : String }` - the lhs infers to `Record { t : Type, x : String }` in my bidirectional checker.
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Oh gosh, I was just about to give you advice on how to implement dependent records, since that's another place a lot can go wrong... in particular you probably want first class projections for records and to make records *negative* types, not sugar for inductive types.
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I'm not an expert here but it seems primitive projections are the correct way to use coinductive types, since they give you eta laws but not dependent elimination (which can be used to violate subject reduction). So you don't want to treat them like (positive) inductive types.
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Or a less opaque way to say it is: if you defined a positive inductive record type to be self-referential, you would never be able to instantiate it (since record types can have only one constructor). So the only meaningful semantics for such a type are coinductive.