saw the cap take going around about $send coins so i went through the contracts myself.short version, he took one default setting and treated it like a rule for every coin on the pad. that's not how it works. receipts attached, all on chain, run it yourself 1. the default he's working from factory.DEFAULT_START_TICK() → 195800 every send factory has a hardcoded opening tick for ETH pairs. his whole argument is math off that one number. but not every coin launches as an ETH pair, and the ones that don't never use that default. they set their own 2. pulled one non-ETH launch as an example, $condo factory.launches(condo) → quote = ONDO factory.startTickOf(condo) → 108400 paired with ONDO not ETH, opening tick 108400 not 195800. different pair, different opening tick, different units. none of his numbers carry over 3. the math StateView.getSlot0(poolId) → tick 56072 v4 stores price as a tick. price = 1.0001^tick, tokens per 1 unit of the pair at launch 1.0001^108400 ≈ 51,000 per ondo → supply worth ~19.6k ondo right now 1.0001^56072 ≈ 272 per ondo → supply worth ~3.67M ondo cross check it with the raw sqrtPriceX96, (sqrtPriceX96 / 2^96)² ≈ 272. same answer 4/ the "lp is locked so it can never change" part locker.poolEthReserves(412099) → 233,471 ONDO the launch position being locked forever is the feature. no withdraw function, nobody can pull it, not the dev and not send but locked doesn't mean frozen. every send market is a standard uniswap v4 pool and anyone can add liquidity to it. the locked position is the base, not the whole market 5. none of this is new $PONS on robinhood chain has fixed supply, liquidity locked forever, and fees that buy back and burn the token. went from basically nothing in july to over $430M in september $STONK on solana is paired with SPYx (tokenized S&P) instead of SOL. ran to $140M+ locked lp doesn't kill a coin, and a non-ETH pair doesn't either. it's why people trust these pads in the first place 6. will send improve it? they've already replaced the factory twice. 3 versions, and every older market kept trading through all of them they keep shipping too. tokenized stock pairs, ondo stock pairs with fee sharing, and NEAR pairs just went live and their own token depends on it. 24% of every trading fee on the pad goes to the $SEND burn. more launches and more volume is literally their business model my bet is they ship a fix. they've upgraded the factory twice already, and their own token depends on launches doing well one default setting ≠ a rule for every coin. different pairs, different ticks, different math, and every number is onchain for anyone to check. no wallet needed, takes 2 min if you sold off that tweet without checking the contracts, hope you enjoy buying back higher