# IMD / FP on-chain collection findings — Step 1

## Plain-language findings and limits

**INFERRED — the sell wall is a large early holder's contingent sale inventory, not evidence of a team dump.** The vault's original funding traces directly to rhynotic.eth's market purchases. Direct token transfers link the main wallet, vault and third wallet, but transfers and ENS names do not prove that one person controls all three. No direct FP/IMD transfer to either supplied team address appears in the collected histories; that is a narrow negative finding, not proof of independence.

**VERIFIED — the wall exists.** At Ethereum block **26,050,808**, the vault deposited almost exactly **90,000 IMD** into six Uniswap v4 positions in an **unhooked native ETH/IMD pool**. At the collection cutoff, all six positions remain owned by the vault with their original liquidity. The observed swap path has not entered their ranges. The approximately **$10–$59** description is consistent with the tick boundaries converted using the on-chain ETH/USD oracle at the cutoff; these are ETH-denominated ranges, so their dollar equivalents move with ETH. Detailed transaction evidence and each range appear below.

**UNRESOLVED — exact real float, insider-adjusted market cap and complete entity ownership cannot be certified from this collection.** Ethereum direct token balances, staking shares and NFT balances reconcile to their supplies; Robinhood transfer replay also reconciles. Base's enumerated balances do not reconcile. Most large-wallet history requests were rate-limited, and the third wallet's Base indexed-transfer history does not reconcile to its pinned balance. These gaps are quantified below. No missing balance, price, insider designation or market cap has been invented.

**INFERRED — two accounting errors would materially distort ownership:** counting Base bridge collateral as well as its bridged tokens; and subtracting all staking assets as unavailable while ignoring the redeemable claims of sIMD holders. PoolManager is shared custody, not one whale or wholly protocol-owned liquidity. The vault's wall principal is already inside its balance and must be reassigned, not added again, in a final beneficial-owner table.

This is the requested **collection-stage deliverable**, not a completed final investment report. `VERIFIED` denotes a chain read, receipt/event observation, or explicitly identified deterministic derivation of those inputs. `INFERRED` denotes interpretation. `UNRESOLVED`/`UNVERIFIED` denote missing evidence; user-supplied names and claims are not promoted to chain facts. Explorer metadata, contract names and verified source text are discovery aids, not independently proven on-chain identity. Raw requests, responses and failures are retained under `raw/`.

## 1. Snapshot and evidence method

**VERIFIED — pinned chain observations:** all balance calls use the block numbers below rather than `latest`. Blocks were observed on 25 September 2026. These are recent heads, not claimed finalized checkpoints, and their timestamps differ slightly across chains. Ethereum, Base, Arbitrum and Robinhood block hashes and chain IDs were checked on a second operator (`raw/*_crosscheck.json`); HyperEVM has only one-operator confirmation.

| Chain | Chain ID | Block | UTC block timestamp | Block hash |
| --- | --- | --- | --- | --- |
| base | 8453 | 51766397 | 2026-09-25T07:42:21+00:00 | 0x06f0e70b3822af211db507a4d3d5b624bd19549e893c4dba79b01209e7c0f797 |
| ethereum | 1 | 26053043 | 2026-09-25T07:42:11+00:00 | 0xd36c8c410185788345f105141ef79cebe2b86336e0a30d276f86c962614e9f25 |
| arbitrum | 42161 | 508697446 | 2026-09-25T07:42:22+00:00 | 0xcf40307254dec3b53b9a147a239b8ada8689a3e1ebefa0e11e38db0e2eff39c6 |
| robinhood | 4663 | 72056798 | 2026-09-25T07:42:20+00:00 | 0xe5bf3d52d99d8b635134a395a87b6b8a2e869f115e3a94ad891c62025bd75632 |
| hyper | 999 | 46833460 | 2026-09-25T07:42:21+00:00 | 0x76364bceb37dfe9bfd1a6a2ce329552d4d9757c860b95241842e6251cb0d88f8 |

**Method:** holder indexes supply candidate addresses only. Pinned `balanceOf` calls establish balances. sIMD candidates were expanded from Transfer logs; NFT candidates likewise. Robinhood historical calls returned “historical state … is not available”, so its balances are derived by replaying token Transfer logs from genesis through the pinned block, excluding the zero address, then checking their sum and the initially readable named-wallet samples against RPC results. A matching sum is a consistency check, not an independent proof that an RPC omitted no offsetting events. No signatures or transactions were submitted.

`holders_draft.csv` contains one positive-raw-balance row per address/chain/asset, in IMD-equivalent units. Three positive dust-share positions round down to zero underlying IMD; their raw shares are retained. sIMD's **raw share decimals are 24**, not 18; the `raw_balance` preserves integer shares. Rows for Base adapter collateral and the Ethereum staking vault's IMD custody are moved to `excluded_custody.csv`. Other contracts, burn addresses and PoolManager remain visible for later classification. `address_totals_draft.csv` sums these rows by address; it does not claim that every address is an independent entity. A missing row means absent from the positive-balance draft, not a verified zero. Exact zero observations for the named wallets remain in raw files and the tables below.

## 2. Deployment discovery, supply and float accounting

**VERIFIED — Base adapter PeerSet receipts disclose HyperEVM** at `0xc9dded1fb2d1e1c872f53a2a2548b587c5350d65`, endpoint ID **30367**. The Base setting transaction is [0x764d060e0de853e63d0ca33bfac9a92692477937701d00964cee6e7986b0ae5f](https://basescan.org/tx/0x764d060e0de853e63d0ca33bfac9a92692477937701d00964cee6e7986b0ae5f) at block **36,378,711**. Pinned `peers(30367)` and HyperEVM `peers(30184)` confirm the reciprocal Base route; HyperEVM supply and owner were also read (`raw/base_peer_30367.json`, `raw/hyper_state_batch.json`). Other discovered endpoint IDs are Ethereum **30101**, Arbitrum **30110**, Base **30184**, Robinhood **30416**. Do not confuse LayerZero endpoint IDs with chain IDs. Base and Ethereum PeerSet enumeration succeeded through explorer log APIs and the listed receipts were fetched; exhaustive event histories on every remote deployment remain unverified. The discovered set is not asserted to rule out all other chains.

| Quantity (VERIFIED pinned reads) | Token units | Evidence at snapshot blocks above |
| --- | --- | --- |
| Base FP totalSupply | 7097702.750085142149380499 | raw/base_supply.json |
| Base adapter FP collateral | 3877961.336922 | raw/base_balance_adapter.json |
| Ethereum IMD totalSupply | 3847614.360942 | raw/ethereum_supply.json |
| Robinhood IMD totalSupply | 30223.01291 | raw/robinhood_supply.json |
| Arbitrum IMD totalSupply | 9 | raw/arbitrum_state_batch.json id 0 |
| HyperEVM IMD totalSupply | 11 | raw/hyper_state_batch.json id 0 |
| Issued claims: Base outside adapter + remote supplies | 7097598.787015142149380499 | Arithmetic from rows above |
| Adapter collateral minus observed remote supplies | 103.96307 | Arithmetic; unreconciled bridge difference |
| Base conventional dead-address balance | 45.377039024748604149 | raw/base_balance_dead.json |
| Ethereum staking totalAssets | 1675818.293822617639991222 | raw/ethereum_staking_assets.json |
| Ethereum staking totalSupply (sIMD shares) | 211261.06239351055495701654954 | raw/ethereum_staking_supply.json; decimals read |

**VERIFIED — initial allocation:** Base deployment transaction [0x2d3ae2c26fae06e744fec45b6355306f26feb8e54f9500a9243afbdb90ba9af2](https://basescan.org/tx/0x2d3ae2c26fae06e744fec45b6355306f26feb8e54f9500a9243afbdb90ba9af2) at block **3,332,899** minted **10,000,000 FP** to `0x047f606fd5b2baa5f5c6c4ab8958e45cb6b054b7`. The net reduction to today's `totalSupply` is **2,902,297.249914857850619501 FP**. This is net supply reduction, not a reconstructed gross burn-event history. Burns already reflected in totalSupply must not be subtracted again. The current Base `owner()` is **0x54c4dd8c2e124c65f55e1e096ab1fb6543e1206c**, different from the deployer; Ethereum/Arbitrum/Robinhood/HyperEVM owner reads return the supplied deployer. Evidence: deployment receipt and `raw/base_owner.json`, `raw/ethereum_owner.json`, remote state reads.

**INFERRED — supply model, not a completed float estimate:**

```
Issued token claims I = Base.totalSupply - adapter.FP + sum(remote IMD.totalSupply)
Circulating C = I - non-supply-reducing irreversible burns - genuinely unavailable claims
Real float F = C - team/insider beneficial claims - protocol-owned inventory
                 - other demonstrated nontradable balances not already excluded
Market cap = contemporaneous on-chain USD reference price * C
Float market cap = contemporaneous on-chain USD reference price * F
```

All subtractions must be disjoint. Replace staking custody with holders' underlying claims; do not remove it twice. Reassign third-party LP principal from shared custody to owners. If starting instead from original Base supply, bridge backing is already represented by the remote economic claims and is not a second float deduction. The **103.96307000 FP** bridge difference is unresolved: asynchronous transfers, dust or configuration need investigation; it is not evidence by itself of insolvency or inaccessible supply.

**UNRESOLVED — missing float components:** complete Base holders; full beneficial ownership of LPs and protocol treasuries; team allocations after the original mint; insider clustering; historical restrictions and burn-receiver state. Therefore `C`, `F`, and their market caps remain **UNKNOWN**, rather than website circulating-supply numbers.

### Staking and protocol inventory

**VERIFIED — vault state:** at Ethereum block **26,053,043**, `asset()` is the supplied IMD address, `paused()` is false and `owner()` is zero. `convertToAssets(10^24)` returns **7.932452269415903747 IMD** per displayed sIMD share, rounded down. The CSV converts each raw share amount using the source's virtual-share formula `floor(sharesRaw × (totalAssets + 1) / (totalSupply + 10^6))`; the single-share result is checked against RPC. This is an underlying claim valuation, not proof of instant redemption for every account; the source has a same-block holding rule. Sources: `raw/ethereum_staking_*.json`, `raw/staking_contract.json`.

**VERIFIED — POOL4 is separate from the wall pool.** Hook `poolId()` is `0x415829f72e9f54531c26eae76f107618540e898a45d6ae35959e143f5faca704`; owner is the supplied deployer and `marketOpen()` is true. At block **26,053,043**, `tokensInPool()` reports **7,383.118124175001820148 IMD**, `ethInPool()` **25.017713496877256767 ETH**, and `feeTokenClaims()` **162.503373675164072628 IMD** (`raw/ethereum_hook_state.json`). These are control-linked claims within shared PoolManager custody, not additive new tokens. The hook can sell through its pool; it is not classified as “cannot sell”.

**VERIFIED / INFERRED distinction — burn pipeline:** the hook's `totalBurned()` counter reads **32,819.593330048450490594 IMD**, but a counter named burned is not itself proof of completed Base burns. Its configured sink `0xe29386719c155b6847ad5a4e97c6674f10ffc750` holds **589.540245983043481067 IMD** at this block (`raw/ethereum_balances_retry1_46.json`). Explorer source identifies a BurnExecutor that can bridge to a Base burn receiver and exposes owner configuration/rescue powers. Its current owner/configuration was not successfully verified; do not subtract the whole counter or assume the pending balance is irretrievably burned. Reward recipient `0x9046739e1535b40efbe6ab3f45d0024b690eca30` holds **4,054.185058417749766363 IMD** (`raw/ethereum_balances_retry1_29.json`); its source has an emergency withdrawal path. Contract source alone does not establish today's controller or permanent lock.

### Holder coverage and concentration

| Asset | VERIFIED balance/replay coverage | Reconciliation |
| --- | --- | --- |
| Base | 10655 queried candidate addresses | Missing 114289.562395266552820302 FP versus totalSupply |
| Ethereum | 2612 queried candidates | Sum equals totalSupply |
| sIMD | 630 queried candidates | Raw shares sum equals totalSupply |
| Robinhood | Transfer replay from raw/robinhood_alllogs_try0.json | Sum equals totalSupply; named-wallet samples match |
| Arbitrum / HyperEVM | Owner balances read | Owner holds whole observed supply on each chain |
| IdentityMD NFT | 3559 queried candidates (includes former holders) | 2000 seats; equals totalSupply |

**VERIFIED balances, ownership UNRESOLVED — largest observed address totals:** these include custodians and contracts, and Base omissions can change rankings. Values combine the pinned blocks above and the sIMD conversion; all row-level evidence is in `holders_draft.csv`.

| Address | Observed IMD-equivalent | Provisional interpretation |
| --- | --- | --- |
| 0x34325bbb53f6e518d08c562050a6d1c335791266 | 463,878.294580 | Unknown; acquisition record below |
| 0x038d3417508aecf2889f79ebff61b32564282534 | 351,769.041662 | See CSV classification; independent entity unproven |
| 0x0e22b5f3e11944578b37ed04f5312dfc246f443c | 280,962.277438 | See CSV classification; independent entity unproven |
| 0x000000000004444c5dc75cb358380d2e3de08a90 | 258,122.202798 | Shared LP custody |
| 0x509a137a1f967add5b90bf7c09ccf7c22bc16009 | 200,195.180428 | See CSV classification; independent entity unproven |
| 0x83e81d747529f0eb6145b149c438ab7f9bbd651c | 118,772.237097 | See CSV classification; independent entity unproven |
| 0xd5defa0ae9e582fc60404cd2b85e2920f299bb14 | 117,067.075100 | See CSV classification; independent entity unproven |
| 0xabe0cdd036456fcc1b64d1ddb7aa3bdf7d5b98b1 | 115,642.665058 | See CSV classification; independent entity unproven |
| 0x789146f9bcf06008d18b785912410f93b26c2340 | 101,186.568151 | See CSV classification; independent entity unproven |
| 0x5d81d3051ddd4e929c76bc572d4f1586c7b752ad | 100,228.095633 | See CSV classification; independent entity unproven |
| 0xe54d6571aca515614927f3a70b8957c2b511603c | 69,705.601977 | See CSV classification; independent entity unproven |
| 0xde62c9d66884b78270d212a2c64a47cfd7641a4e | 67,711.189104 | See CSV classification; independent entity unproven |
| 0xde66c35e01ed8e619bf092352338ef94f2327337 | 58,544.221301 | See CSV classification; independent entity unproven |
| 0x02679577041e342ca737b1fd4ce2b26647806859 | 53,947.651285 | See CSV classification; independent entity unproven |
| 0x3ddc169418ba0f8f19f2b84be13deeac3ac8f934 | 53,323.688104 | See CSV classification; independent entity unproven |

**VERIFIED arithmetic on an incomplete ledger — not verified whole-token concentration:** observed top-address shares of issued claims are top 10 **29.698%**, top 50 **49.896%**, top 100 **61.119%**. Known-subset Gini is **0.961267**, with **12,702** positive address totals. These are address/custody metrics, not entity or real-float metrics; they leave the wall inside PoolManager and retain protocol balances. Unknown Base holdings and clustering can materially alter them. At the hooked-pool reference price below, observed addresses above $1,000 / $10,000 / $100,000 number **2082 / 649 / 107**. These are partial-ledger counts, not a certified count of independent holders. Formula, values and scope are preserved in `concentration_draft.json`. No website holder count or price enters these calculations.

**UNRESOLVED — top 100 classification:** pinned bytecode queries support EOA/delegated-account/contract distinctions where available. Most social/economic classifications remain unknown. First-token-history requests for **99 of the 100 queried large addresses** returned HTTP 429; this count is the saved request outcome, not chain data. A contract flag does not prove that a contract cannot sell. The largest observed holder's earliest returned token history is a market buy from pair `0x29b3a7869e3662d00aabd89a8ee74b2f703a6a66`, block **3,443,427**, tx [0xc141518a02a216bb5b72a965bfaf48342336f92bbdeefefafdb3f529b245a7cc](https://basescan.org/tx/0xc141518a02a216bb5b72a965bfaf48342336f92bbdeefefafdb3f529b245a7cc). Its receipt was fetched. This supports “early market participant”, not “team allocation” or “insider”. The entire larger-holder set, including anyone above the requested supply threshold, remains an open attribution task.

## 3. Weekly observations since 1 August 2026

**VERIFIED inputs / derived USD references:** StateView `0x7ffe42c4a5deea5b0fec41c94c136cf115597227` supplies pool `sqrtPriceX96`. With native ETH as currency0 and 18-decimal IMD as currency1, `IMD/USD = ETH/USD / (sqrtPriceX96 / 2^96)^2`. ETH/USD comes from Ethereum feed `0x5f4ec3df9cbd43714fe2740f5e3616155c5b8419`, with **8 decimals** read on chain. At block **26,053,043**, its answer is **$2,674.61181483**, updated **2026-09-25T06:52:35+00:00**. Thus this is an oracle-normalized pool spot reference, not an executed dollar trade or an external website price. It is about fifty minutes older than the snapshot.

The unhooked wall pool reference is **$9.06106686**, and the POOL4 reference is **$9.06292856**. Multiplying issued claims by the latter gives **$64,325,030.74**, an **issued-claims reference valuation**, not verified circulating or real-float market cap. Sources: `raw/ethereum_wall_slot0.json`, `raw/ethereum_slot0_hooked.json`, `raw/ethereum_ethusd.json`, supply reads above.

**Selection limitation:** the table uses the unhooked ETH/IMD pool before POOL4 exists, and the hooked pool afterward. Their initialization transactions are [0x95f51e7d456c9df25ba6fe56569e08a5f7d3e781f4d34ed532fb191dc2ceabd1](https://etherscan.io/tx/0x95f51e7d456c9df25ba6fe56569e08a5f7d3e781f4d34ed532fb191dc2ceabd1) and [0x6c0c477980fac849af1e8a32edeed98f8fa0ff866ab6722f9eb83e81e6596b87](https://etherscan.io/tx/0x6c0c477980fac849af1e8a32edeed98f8fa0ff866ab6722f9eb83e81e6596b87). Highest-volume/main-pool status at each historical date has **not** been established; both candidate pool readings are kept in `weekly_draft.csv`. A zero hooked slot before its initialization is “pool absent”, not a zero token price. Weekly blocks are the last blocks at or before 00:00 UTC, with the following block fetched to verify the boundary. Archive-call errors and retries are retained.

The final value column deliberately multiplies **Base totalSupply**, not a guessed circulating supply. It is only a comparable supply-price reference. All requested historical `circulating_market_cap`, `real_float`, and `float_market_cap` fields remain UNKNOWN until their missing classifications and bridge reconciliation are resolved.

| UTC date | ETH block / Base block | Base supply | Selected price USD | Supply × price REFERENCE ONLY |
| --- | --- | --- | --- | --- |
| 2026-08-01 | 25656292 / 49376526 | 7,211,837.836 | 0.468932 | 3,381,860.71 |
| 2026-08-08 | 25706531 / 49678926 | 7,195,605.919 | 0.482064 | 3,468,743.48 |
| 2026-08-15 | 25756720 / 49981326 | 7,183,771.809 | 0.472959 | 3,397,632.51 |
| 2026-08-22 | 25806958 / 50283726 | 7,167,256.753 | 1.280361 | 9,176,675.38 |
| 2026-08-29 | 25857181 / 50586126 | 7,157,235.739 | 0.973271 | 6,965,931.31 |
| 2026-09-05 | 25907399 / 50888526 | 7,139,888.048 | 3.447229 | 24,612,832.34 |
| 2026-09-12 | 25957605 / 51190926 | 7,112,110.515 | 2.843654 | 20,224,383.24 |
| 2026-09-19 | 26007835 / 51493326 | 7,103,659.430 | 3.273804 | 23,255,989.51 |

**INFERRED — known redistribution is not automatically a float change:** the vault bridge moves custody across chains; staking creates a redeemable claim; placing the wall moves inventory to LP custody. None alone proves that economic circulating supply shrank. The dated transfers below and the third wallet’s stake/withdrawal transactions are starting points for historical entity-balance attribution. Complete weekly insider positions and the transfers changing real float have not been reconstructed.

## 4. Clusters, early supply and NFT overlap

**R1 — INFERRED common-entity candidate:** rhynotic.eth main `0xfc3c962fad2c1cc77f1a0d46e7b8a2de79a21774`, vault `0x773d715200ab5c07f39db9772e3c83c48534a585`, and third `0xde62c9d66884b78270d212a2c64a47cfd7641a4e`. Evidence is direct transfers and current forward ENS resolutions, not merely synchronized trading. March transfers are proven below. Main and vault forward resolution was read through the ENS registry and each resolver at Ethereum block 26,053,043 (`raw/ens_resolver_*.json`, `raw/ens_address_*.json`). That establishes present name-to-address mapping, not historical name ownership or legal identity. No same-person assertion is made.

**T1 — VERIFIED control cluster:** supplied deployer owns the bridged IMD contracts and POOL4 hook at the snapshot. Initial FP mint to that address is proven; subsequent allocations/sales were not comprehensively traced. Its tiny direct wallet balance must not be mistaken for its total economic control. **T2 — UNVERIFIED team attribution:** frenpet.eth forward resolution is verified, but its claimed main LP position ownership was not reconstructed; it remains separate from T1 instead of assuming common ownership.

**Early/cheap supply:** the original mint is a verified nonmarket allocation. R1 main's original lot is verified market acquisition; vault's and third's March receipts are nonmarket transfers of previously held tokens, not evidence of fresh allocations. The third wallet already received FP from the same market pair before the main's first observed purchase: block **6,466,192**, 2023-11-11 16:55:31 UTC, **806.536032992460444898 FP**, tx [0x41067abbeb30c363359f5b4180f67c79fa95ac0fe36e7ea28d2d426bda836cc7](https://basescan.org/tx/0x41067abbeb30c363359f5b4180f67c79fa95ac0fe36e7ea28d2d426bda836cc7). Receipt and transaction are saved. First acquisition is therefore not the later March transfer. Systematic airdrop, NFT-claim and allocation identification remains unresolved.

**Do not merge transfer recipients automatically:** save-as.eth `0x419beee486a63971332cee7170c2f675d92ac5d3` received the vault's April transfer, but the purpose/control relationship is unknown. Its directly queried FP/IMD and sIMD balances are zero on Base, Ethereum, Arbitrum and HyperEVM at the respective snapshot blocks (`raw/*_saveas_*.json`), and Robinhood replay also yields zero. LP/NFT exposure and subsequent disposal history are not established. The main's **1 FP** January 2024 transfer to `0x921174272d661996531d277312d02bd5be17a0ab`, block **9,614,894**, tx [0xa6211ef686ce5ce7d5110b2b9c98f48a22a03c178cd7cbb63a992ed66a77c71d](https://basescan.org/tx/0xa6211ef686ce5ce7d5110b2b9c98f48a22a03c178cd7cbb63a992ed66a77c71d) is another weak link, not enough to merge that recipient.

**UNRESOLVED — cabal search:** common native funding, same-block/minute buys across the holder universe, matched LayerZero GUID timing, shared-name history, and coordinated NFT acquisition were not exhaustively analyzed. Large-holder funding-history requests were throttled. Shared use of an exchange, game or bridge does not prove common control. `clusters_draft.csv` contains evidence-qualified candidates, not a purported complete insider map.

**VERIFIED — NFT ownership:** token `0x0000ec93127baa929e58e97dd0095a2bfb38ec1d` has **2,000** seats at Ethereum block **26,053,043** (`raw/ethereum_nft_supply.json`); the pinned NFT balance ledger sums to **2,000**. There are **781** positive addresses in that ledger. The largest observed seat holders and their observed fungible-token overlap are below. A zero in the overlap column means zero in the collected fungible ledger, not proof of zero exposure on incomplete Base data or through LPs. The collection's name does not prove that multi-seat holders form a common entity. Sources: `nft_holders_draft.csv`, raw NFT Transfer logs and pinned balance batches.

| Address | Seats | Observed IMD-equivalent overlap |
| --- | --- | --- |
| 0x36cd75f8d0dcb4574013568f7a560ee03a2fd195 | 76 | 35,479.3868 |
| 0xe3de112ae639b45b7d22c4e42742020db679d80c | 34 | 25,915.6057 |
| 0x7ad3c2303655f78594e4f976ddb873aef9322efc | 30 | 0.0000 |
| 0xd4bb7351a9b0d1b236e7523da7a972db4a100f08 | 30 | 0.0000 |
| 0xea24ea8f9a1483296cdc36f265340e84745abb64 | 30 | 0.0000 |
| 0xabe0cdd036456fcc1b64d1ddb7aa3bdf7d5b98b1 | 30 | 115,642.6651 |
| 0xf98c3bf5f3544f64e60560304b58dca900a3c4db | 29 | 35,111.9999 |
| 0xb19889f4b6976beba437d539eee566dc31805dc2 | 28 | 0.0000 |
| 0x7c5b3ab1d5cc8790b021c77730052e6a73be177f | 27 | 0.0000 |
| 0x05ed39d4bfc023e41136210febc006401c8f2c3d | 25 | 0.0000 |

## 5. Sell-wall wallets: claim-by-claim verification

### Original purchases and entry price

**VERIFIED — seven November 2023 buys:** transaction values and pair Swap inputs sum to **2.6 ETH**; the main received **168,065.083430643246036768 FP net**. The pair is `0x29b3a7869e3662d00aabd89a8ee74b2f703a6a66`, token0 is Base WETH and token1 FP; its factory is `0xfda619b6d20975be80a10332cd39b9a4b0faa8bb` (`raw/base_pairs.json`). This proves the actual venue addresses; “BaseSwap” is the community-supplied venue label, not an on-chain brand-identity proof. Swap gross outputs exceed wallet receipts because of the transfer fee. Cost basis uses **net received FP**, not gross pair output. All seven receipts succeed and are retained.

| UTC date | Base block | FP net | ETH input | Transaction |
| --- | --- | --- | --- | --- |
| 2023-11-11 | 6468046 | 36,501.590133 | 0.5 | [0xfff9ca81e36794ca9d802a0335bff9d7fcec794077a990d11d409a2fbe1ac271](https://basescan.org/tx/0xfff9ca81e36794ca9d802a0335bff9d7fcec794077a990d11d409a2fbe1ac271) |
| 2023-11-11 | 6468805 | 34,144.941997 | 0.5 | [0x09c82a7157501f01b04ca4c79c212d296150cb0ddbeb0b3fd9f250448983f81a](https://basescan.org/tx/0x09c82a7157501f01b04ca4c79c212d296150cb0ddbeb0b3fd9f250448983f81a) |
| 2023-11-11 | 6469561 | 31,228.907458 | 0.5 | [0x536fd3810f1b23cc27fc8db10e03e1175726dc4bb1dc48168a7d3c4a663136fc](https://basescan.org/tx/0x536fd3810f1b23cc27fc8db10e03e1175726dc4bb1dc48168a7d3c4a663136fc) |
| 2023-11-11 | 6470674 | 30,461.236527 | 0.5 | [0x31c38ff9ab477159fa47329404bea5c4a0dcefb278791032cf353a2226d2f3ea](https://basescan.org/tx/0x31c38ff9ab477159fa47329404bea5c4a0dcefb278791032cf353a2226d2f3ea) |
| 2023-11-12 | 6519411 | 17,320.825850 | 0.3 | [0xa2603ff9ade30f04cc483c26992c1ead7bbc6562242f0985eeb6f93891255c4f](https://basescan.org/tx/0xa2603ff9ade30f04cc483c26992c1ead7bbc6562242f0985eeb6f93891255c4f) |
| 2023-11-14 | 6598402 | 9,344.592082 | 0.15 | [0x75613172b35976c857eecf6c6af6c0f3795c28ec4c7932536c29e53091585156](https://basescan.org/tx/0x75613172b35976c857eecf6c6af6c0f3795c28ec4c7932536c29e53091585156) |
| 2023-11-14 | 6598483 | 9,062.989384 | 0.15 | [0x64246f4a56e620beb97c09a35be67db26350902b9a35c3160e73ab126a41a248](https://basescan.org/tx/0x64246f4a56e620beb97c09a35be67db26350902b9a35c3160e73ab126a41a248) |

**VERIFIED inputs, DERIVED entry cost:** **0.000015470197 ETH per net FP**. Historical Base ETH/USD oracle `0x71041dddad3595f9ced3dccfbe3d1f4b0a16bb70` answers at each purchase block give total **$5,371.18748032**, or **$0.0319589731 per FP**, using **8 decimals verified at Base block 6,468,046** (`raw/base_entry_oracle_decimals.json`). This dollar result is a deterministic chain-oracle estimate, not an observed fiat payment. The underlying round answers and update timestamps are saved in `raw/base_buy_oracle_*_repaired.json` and `entry_buys.csv`. Native entry cost is independently verified from swap inputs, without relying on the USD assumption. Gas, later purchases and possible tax effects on exit are excluded. The community's “about $0.03” is consistent with this estimate, not an exact verified fiat expenditure.

### March split, gift, sale and bridge

| Claim | Observed result / status | Evidence |
| --- | --- | --- |
| March 2024: 60,000 FP to third | VERIFIED: 10,000 + 50,000 on 3 March | Base 11,341,143 [0x8fb03e1f1f12273943ba090124004176832306a470bff255c51135241826b151](https://basescan.org/tx/0x8fb03e1f1f12273943ba090124004176832306a470bff255c51135241826b151); 11,341,221 [0x0783830862031fd64482bffd7ede2b5fbc4d6aa1fcd142a98494d2f8583ecf36](https://basescan.org/tx/0x0783830862031fd64482bffd7ede2b5fbc4d6aa1fcd142a98494d2f8583ecf36) |
| March 2024: about 108,064 FP to vault | VERIFIED: 100 + 107,964.083430643246036768 on 27 March | Base 12,389,335 [0x6f252611bedfb5ecde41181eb4d6bd8b6299d6ac7bdae9435ff2c65308198710](https://basescan.org/tx/0x6f252611bedfb5ecde41181eb4d6bd8b6299d6ac7bdae9435ff2c65308198710); 12,389,358 [0xb771a56d05a7d45b75b890b83d26d0550bab612b9bb591d7a5576f7e05a7672c](https://basescan.org/tx/0xb771a56d05a7d45b75b890b83d26d0550bab612b9bb591d7a5576f7e05a7672c) |
| April 2024: 5,000 FP to save-as.eth | VERIFIED: sent by vault, 25 April; current ENS resolves to recipient | Base 13,645,020 [0xff1dcaf0d8fa68429a353e265834788bf84ed5631b65e22b8c2cc79e73febc63](https://basescan.org/tx/0xff1dcaf0d8fa68429a353e265834788bf84ed5631b65e22b8c2cc79e73febc63) |
| 17 August 2026: sell 10,000 FP | VERIFIED: 10,000 debit = 9,600 to pair + 400 to token fee custody. Pair output 4.642211693895658603 WETH. This is gross pair output, not independently traced final native receipt. | Base 50,105,176 [0x61f5878b81cbff1f693fca6352976a8a2a119de3eb3321cebe1eac3c131183de](https://basescan.org/tx/0x61f5878b81cbff1f693fca6352976a8a2a119de3eb3321cebe1eac3c131183de) |
| 21 September: bridge about 93,064 FP | VERIFIED: two Base locks and two Ethereum mints total 93,064.08343; tiny FP dust remains. Exact LayerZero GUID pairing not yet decoded. | Base 51,580,828 [0xc1b67c6c0cc900dfec1d09a4bb13f7dc2edfd0a84629383d30eb0e94cff51d65](https://basescan.org/tx/0xc1b67c6c0cc900dfec1d09a4bb13f7dc2edfd0a84629383d30eb0e94cff51d65); 51,580,960 [0xdf788ddc3501ca8db7df90aa18d6e91dfe69b19ad297e0d474fa87e923b74d69](https://basescan.org/tx/0xdf788ddc3501ca8db7df90aa18d6e91dfe69b19ad297e0d474fa87e923b74d69); Ethereum 26,022,358 [0xd0223c027153ac8ff949040bbc2e215c78d7cdfa60dd46640131215a3524946d](https://etherscan.io/tx/0xd0223c027153ac8ff949040bbc2e215c78d7cdfa60dd46640131215a3524946d); 26,022,380 [0x02d8770cdd26bae903dbbbdf8058d7892b7f53b9d8d19e100e7a7690562ffb0b](https://etherscan.io/tx/0x02d8770cdd26bae903dbbbdf8058d7892b7f53b9d8d19e100e7a7690562ffb0b) |

### Current positions across discovered chains

**VERIFIED pinned balances / derived sIMD claims:** zero balances below are direct observations for the three named wallets on all discovered deployments; sIMD is Ethereum-only here. LP principal is separate from wallet `balanceOf`. Sources are `raw/*_balance_main.json`, `*_balance_vault.json`, `*_balance_third.json`, Arbitrum/HyperEVM state batches, staking reads and `holders_draft.csv`.

| Wallet | Base FP | Ethereum direct IMD | sIMD underlying IMD | Robinhood / Arbitrum / HyperEVM | LP IMD |
| --- | --- | --- | --- | --- | --- |
| main 0xfc3c962fad2c1cc77f1a0d46e7b8a2de79a21774 | 30.860261265050121394 | 0 | 0 | 0 / 0 / 0 | Not reconstructed |
| vault 0x773d715200ab5c07f39db9772e3c83c48534a585 | 0.000000643246036768 | 3064.083429999999999997 | 0 | 0 / 0 / 0 | ~90,000 |
| third 0xde62c9d66884b78270d212a2c64a47cfd7641a4e | 20.498201618481683692 | 0 | 67690.690901899015437829 | 0 / 0 / 0 | Not reconstructed |

**INFERRED cluster aggregation:** R1 has **70,806.132795425793279680 IMD-equivalent** in observed direct tokens and sIMD, plus approximately **90,000 IMD** in the vault's six wall positions, totaling approximately **160,806.132795 IMD-equivalent**. This is not an additional supply row: subtract the wall principal from PoolManager before assigning it to R1 in a final entity ledger. Unknown LPs/assets are outside this total.

**VERIFIED — third wallet still has exposure:** it deposited **73,212 IMD** into sIMD on 2 September, block **25,892,140**, tx [0x4447408a8f3bc962e8765fef7dbc723fce16e914a2207c9eb77bbe26ca393864](https://etherscan.io/tx/0x4447408a8f3bc962e8765fef7dbc723fce16e914a2207c9eb77bbe26ca393864). It later withdrew **4,990.213281749103674764 IMD** at block **25,993,061**, tx [0xfb28cdfb71ecf38c6199703577716b92bf9dd1a7939263820f5972677aac16e0](https://etherscan.io/tx/0xfb28cdfb71ecf38c6199703577716b92bf9dd1a7939263820f5972677aac16e0) and **792.097346309381535676 IMD** at block **26,001,064**, tx [0x6393f1fe7d13221506dd5ea57e031363817eb467b5ba515aaa1bf1fe78688bab](https://etherscan.io/tx/0x6393f1fe7d13221506dd5ea57e031363817eb467b5ba515aaa1bf1fe78688bab). Subsequent outbound transfers occur in receipts [0xb592f27b3a46bd9debd67f2fcb23227f5ba141788cf7fe22dae4985218dfbd78](https://etherscan.io/tx/0xb592f27b3a46bd9debd67f2fcb23227f5ba141788cf7fe22dae4985218dfbd78) and [0x557483d9feb2027bd0143b8407048fd2dd4ed8bffba525607135860852f8241d](https://etherscan.io/tx/0x557483d9feb2027bd0143b8407048fd2dd4ed8bffba525607135860852f8241d). These are not an exhaustive realized-sale or proceeds calculation; earlier transfers and pool interactions also exist. The pinned share balance, converted at the current rate, establishes remaining stake even though direct IMD is zero.

### Exact wall and fills

**VERIFIED — creation:** [0x611e530aad59235389f2922144d878b8f476494463ade9b8ac228f7a3202b42c](https://etherscan.io/tx/0x611e530aad59235389f2922144d878b8f476494463ade9b8ac228f7a3202b42c) at block **26,050,808**, **2026-09-25 00:12:23 UTC**, emits six PositionManager ERC-721 mints to the vault and six ModifyLiquidity events. The net IMD transfer is **89,999.999999999999999996 IMD**. PoolManager: `0x000000000004444c5dc75cb358380d2e3de08a90`; PositionManager: `0xbd216513d74c8cf14cf4747e6aaa6420ff64ee9e`; pool ID: `0xb07d640fd9e2eb9dc81b953c8e4fd006bdfeaf276010fb5418eb763ca15abfb3`. PoolKey reads give native ETH / IMD, fee **10,000 millionths (1%)**, tick spacing **200**, **zero hook**. Hence calling this a wall inside POOL4 would be wrong.

**VERIFIED event inputs / derived range inventory:** for currency1-only liquidity, `IMD = L × (sqrt(1.0001^tickUpper) − sqrt(1.0001^tickLower)) / 10^18`; `USD/IMD = oracleETHUSD / 1.0001^tick`. Decimal formula results are approximate; Solidity integer rounding accounts for wei-sized differences. Exact L and ticks, which define the positions, are retained in `wall_ranges.csv` and the receipt. USD bounds below use the cutoff oracle, not an assumed fixed dollar limit.

| Position NFT | Ticks lower / upper | Exact liquidity L | IMD approx | USD range at cutoff |
| --- | --- | --- | --- | --- |
| 416133 | 51800 / 55800 | 3050120304067353900948 | 9,000 | 10.0930 – 15.0566 |
| 416134 | 46600 / 51800 | 5899122406926508909036 | 18,000 | 15.0566 – 25.3250 |
| 416135 | 44800 / 46600 | 20351287208342810679094 | 18,000 | 25.3250 – 30.3193 |
| 416136 | 43400 / 44800 | 14174445304903836166490 | 9,000 | 30.3193 – 34.8752 |
| 416137 | 42000 / 43400 | 30404310700319716788338 | 18,000 | 34.8752 – 40.1158 |
| 416138 | 38200 / 42000 | 12740038114288471484492 | 18,000 | 40.1158 – 58.6596 |

**VERIFIED observations / derived fill finding:** `ownerOf` and `getPositionLiquidity` at block **26,053,043** match the mint owner and original L for every position (`raw/ethereum_position_416133_*` through `416138_*`). Swap logs for this pool from the creation block through the cutoff contain **828 events**, with observed post-swap ticks between **56,204 and 57,879**. The highest wall tick is **55,800**; the current tick is **56,878**. Since currency1 is IMD, its price rises as tick falls. The observed path has not reached a wall range; **0 IMD of this wall is observed filled**. Modification logs are also retained (`raw/ethereum_wall_swaps.json`, `raw/ethereum_wall_modifications.json`). This relies on the returned log range being complete; it is not an independently audited archival index. No filled gross volume or fees are fabricated.

**VERIFIED earlier movements, purpose UNRESOLVED:** before the final wall, the vault sent **1,000 IMD** to PoolManager at block **26,050,699** and received approximately the same principal back in several transfers through block **26,050,766**. Those receipt hashes and amounts appear in `wallet_transfers.csv`. They should not be mistaken for completed sales of that entire principal. Position actions for this earlier sequence have not been fully interpreted.

**INFERRED price implication:** buyers pushing this pool upward would encounter additional IMD liquidity beginning at the lowest price boundary. This is conditional depth, not a guaranteed ceiling or proof that buyers will appear. The holder can withdraw its positions, other pools can trade at different prices, arbitrage can connect them, and a reversed price path can buy IMD back into LP positions. No prediction of a price outcome follows just from the wall.

### Team-link and history completeness verdict

**VERIFIED scope of the negative search:** no direct FP/IMD transfer between either supplied team wallet and the three R1 wallets appears in the collected Base/Ethereum token histories. **UNRESOLVED:** common initial native funding, indirect chains of transfers, exchange-mediated funding, team-linked LP ownership and off-chain control. The data does not justify labeling R1 team-owned or definitely independent.

The complete-cursor explorer histories contain **14** main-wallet Base events, **7** vault Base events, and **5,513** third-wallet Base events; counts are collection metadata. Main/vault Base event-net balances and all three Ethereum direct token histories reconcile to pinned RPC balances. The third's Base history does **not** reconcile. Thus “full verified history of all wallets” remains unmet, despite reaching the explorer's last page. A complete-cursor response is not the same thing as complete chain accounting. Reconciliation evidence:

| Chain / wallet | Indexed transfer net | Pinned RPC balance | Difference | Status |
| --- | --- | --- | --- | --- |
| base / main | 30.860261265050121394 | 30.860261265050121394 | 0 | MATCH |
| base / vault | 0.000000643246036768 | 0.000000643246036768 | 0 | MATCH |
| base / third | 1009.182287942854387314 | 20.498201618481683692 | 988.684086324372703622 | UNRESOLVED_MISMATCH |
| ethereum / main | 0 | 0 | 0 | MATCH |
| ethereum / vault | 3064.083429999999999997 | 3064.083429999999999997 | 0 | MATCH |
| ethereum / third | 0 | 0 | 0 | MATCH |

## 6. Access failures and remaining collection work

**Observed access failures (not on-chain facts):** Base and Ethereum genesis-to-head RPC log queries returned HTTP 403; the peer-log explorer fallback succeeded. Arbitrum's initial Zan reads returned HTTP 429, PublicNode retries returned 403, and `arb1.arbitrum.io` succeeded for the pinned state batch. Robinhood's explorer returned 403; one log call reported network busy; its primary RPC then supplied Transfer logs, but historical state calls were unavailable. Base holder pagination stopped at page 213 after an earlier interruption at page 114; successful earlier pages were retained and candidates re-read on chain. Large-wallet history discovery largely returned 429. PublicNode/MEV Blocker balance batches were throttled at points; successful retry outputs and failures are preserved. Flashbots `/fast` rejects some read methods and large batches; it was used only where responses succeeded. No failure is interpreted as zero.

**Remaining to finish Parts 1–3:**

- Reconcile missing Base balances and the third wallet's Base transfer discrepancy using a complete canonical Transfer index and contract-specific accounting; then revalidate holder completeness at one coherent cutoff.
- Finish all remote peer histories and verify any additional deployments; pair bridge sends/receives by GUID and explain the backing difference.
- Attribute top 100 / threshold holders, protocol treasuries and all LP principal; prove common-control edges before excluding insiders from float. Verify frenpet.eth's claimed main position.
- Reconstruct time-varying classifications and quantities, price the demonstrably main pool each week, and only then publish circulating and real-float caps and transfer attribution.
- Complete funding and coordinated-trading/NFT analysis, all linked-wallet histories, and sale proceeds (including fees and native internal transfers). Do not treat gifts or shared protocol interaction as identity proof.
- Independently re-fetch critical receipts, snapshot block hashes and log completeness if a final verified report is required. This collection's own checks are not independent assurance.

## 7. Reproduction and local checks

All collection and derivation code uses Python 3 standard library only; `scripts/evm.py` implements Keccak-256 for selectors. No downloaded runtime dependency or network access is required to inspect the saved evidence, derive tables or run `python3 scripts/check.py`. Collection scripts are read-only and require network only when intentionally re-run. Saved failures remain failures; replay does not silently replace them with invented data. `README.md` describes the files and the offline workflow. `checks.json` records local consistency checks, including explicitly unresolved differences; these checks cannot certify an RPC provider or an explorer.