Track 1 will be called the Anglican Union.
Track 2 will be called the Anglican Guild.
How do I predict this? A crystal ball?
No. Because, from a bishop of the Church of Nigeria (Anglican Communion), praising the Covenant and especially part 4 (while his actual Church joins a Primate's Council to oversee international bishops oversight via GAFCON/ FCA)...
What section 4.2.8 recommends is already operational, in an analogous way, in some parts of our Communion. ...[In the Church of Nigeria] all women who are not willing to accept the discipline of this Church in holy matrimony cannot be members of the Mothers’ Union. To give them a sense of belonging, they are provided with an alternative: the Women’s Guild.
So track 1 Union, track 2 Guild.
So we see how Nigeria expects the Covenant to work. As they say: if you don't want it, don't sign up to it. Don't sign thinking it is something that it is not.