Island loot reset mechanics

[normal depot]

I know that chests can reset on islands but it's unclear exactly how it happens. Initially I thought it had to do with changing zones, but after some testing this doesn't seem to be the case. I have theories that break down into 3 categories:

1. Time: a certain amount of time after a chest is opened it is reset, or after a certain amount of time away from an island it will reset when it is loaded again
2. Load cycles: after a certain number of server reloads occur, or after a certain number of new islands are loaded, chests will be reset
3. Distance: after one travels a certain amount of distance away from the island, or a certain amount of distance total, it's chests will be reset

If anyone knows which (if any) of these theories is correct, or can otherwise provide more information on the matter, I would be glad to hear it

[spark gulch]

Chests don’t reset. They used to reset in early access but they don’t reset at this time

[normal depot]

Is that confirmed somewhere? I could've sworn some chests in the starter zone reset for me at some point, but maybe I'm gaslighting myself. It would also be a strange choice since, even though there are many more islands now, a finite number of chests and randomized loot tables means it's possible that some schematics may never spawn in a given world