A monad for full ground reference cells

We present a denotational account of dynamic allocation of potentially cyclic memory cells using a monad on a functor category. We identify the collection of heaps as an object in a different functor category equipped with a monad for adding hiding/encapsulation capabilities to the heaps. We derive a monad for full ground references supporting effect masking by applying a state monad transformer to the encapsulation monad. To evaluate the monad, we present a denotational semantics for a call-by-value calculus with full ground references, and validate associated code transformations.