Ayin is a reference to “Atzmus” as it exists in Hishtalshelus. This ultimately explains (in Kabbala language) what is accomplished through Mitzvos. Pages 364-5. (New Edition pp 479-480)

Part 16: Ain Koach Chosar poel Lemaala- YESHUS is only CHIDUSH Four Levels: EFES, AYIN,EFSHARI YESH, YESH. What is the difference before maase? The Ruchnius of the world exists but not the goshmius (in a later maamar the Rebbe says even the goshmius exists but not the yesh.) Yeshus is the LIE that says I…

Part 15: p. 39-40. EFES, AYIN, EFSHARI HAYESH, YESH First thing is Efes, a non world – one infinite Ain Sof with infinite sefiros. Then Hashem “thinks” that He wants a world, and 10 sefiros are designated from the infinite number of sefiros to make the world, but its still swimming in a sea of…