The launch bundle

Who was in at the first block, and what they did next.

What "bundled" means

A bundle is the set of wallets that bought in the launch's opening moments — typically in the same transaction batch as the launch itself. It is normal for one to exist. Almost every launch has one, and a launch with none at all is its own kind of odd.

The number to read is how much of the supply it took.

• A small share is ordinary — someone has to buy first.
• A large share means the launch group holds enough to end it whenever they like.
• Something close to everything is not a launch, it is a distribution waiting to happen.

Still holding, or already out

More useful than the size is what happened afterwards. The panel shows what the bundle acquired and what it currently holds.

A group that took a fifth of the supply and still has it has an interest in the price. The same group having sold most of it means the supply is now in the hands of whoever bought it from them, and the float you are looking at is different from the one the score was computed on.

Clusters

Bundle wallets are grouped where evidence connects them — shared funding, the same counterparties, buying in lockstep across other launches.

Six wallets that are really one person is a materially different launch from six independent buyers who happened to be fast, and the two look identical until you look at where the money came from.

Where a cluster has appeared on prior launches, that is shown, and it is the single most transferable fact on this page: a group that has done this repeatedly tends to do it the same way again.

Reconstruction can fail

Sometimes the launch cannot be rebuilt — the data is not there, the launch was too fast, or the indexer has a hole in it.

That is reported as unmeasured and it is a hard refusal for the autobot, not a low score. An unmeasurable launch is not a clean one; it is one where the most important question has no answer.