This rare kanji has no clear standalone meaning. Treat its meaning as uncertain.
淎 combines the water radical 氵 with 奉, which likely contributes the sound. The exact historical development is uncertain, and the character is rare.
The water radical 氵 beside 奉 suggests something related to water, but the specific meaning is unclear. Picture a rare, mysterious water-related concept.
For ホウ, imagine a hopeful (ホウ) water spirit emerging from the 氵 beside 奉: hopeful -> ホウ.
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