diff --git a/README.md b/README.md
index e48ae8e..4f2f8ea 100644
--- a/README.md
+++ b/README.md
@@ -181,6 +181,27 @@ Since `d` uses top-level await, `d` and its dependencies cannot be deferred:
 - The initial evaluation will execute `b`, `e`, `d` and `a`.
 - Later, the `c.value` access will trigger the execution of `f` and `c`.
 
+This is equivalent to "transpiling" the `import defer * as c from "c"` declaration to:
+- direct eager import declarations to its async transitive dependencies
+- eager loading/linking of `c`
+- lazy evaluation of `c`
+
+```js
+// import c's async transitive dependencies
+import "d";
+// load c without evaluating it.
+loadAndLinkSync("c");
+// evaluate on property access
+const c = new Proxy({}, {
+  get(namespace, prop) {
+    const promise = evaluate("c");
+    assert(promise.[[Status]] === "fulfilled");
+    const namespace = promise.[[Value]];
+    return namespace[prop];
+  }
+});
+```
+
 ### Rough sketch
 
 If we split out the components of Module loading and initialization, we could roughly sketch out the