Holder Concentration

${var} — Token contract address (0x...) on Base. Required. If empty, log HOLDER_CONC_NO_TARGET and exit cleanly (no notify).

The detailed distribution analysis that rug-scan only samples: how concentrated is real circulating supply, once you strip out LP, lockers, and burn. Runs keyless on public endpoints.

Read the last 2 days of memory/logs/ to detect concentration shifts since a prior run.

Config

• Target = ${var}. Chain = Base (chainid=8453, explorer basescan.org).
• ETHERSCAN_API_KEY — optional; Etherscan v2 works keyless at a lower rate limit. Appended to the URL, never a header.

Steps

1. Fetch supply + top holders

TOKEN="${var}"
curl -m 10 -s "https://api.etherscan.io/v2/api?chainid=8453&module=stats&action=tokensupply&contractaddress=${TOKEN}${ETHERSCAN_API_KEY:+&apikey=$ETHERSCAN_API_KEY}" | jq -r '.result'
curl -m 10 -s "https://api.etherscan.io/v2/api?chainid=8453&module=token&action=tokenholderlist&contractaddress=${TOKEN}&page=1&offset=100${ETHERSCAN_API_KEY:+&apikey=$ETHERSCAN_API_KEY}" | jq '.result'

If tokenholderlist returns empty on the keyless tier, reconstruct top holders from Transfer logs via Base RPC eth_getLogs and note reduced confidence.

2. Classify & exclude non-circulating holders

Tag each top holder before computing concentration — these are NOT free float:

Tag	Marker
LP	known DEX pool (Aerodrome / Uniswap pair)
LOCK	Unicrypt / Team Finance / known locker
BURN	0x000…000 or 0x…dead
CONTRACT	has code (staking, vesting, treasury)
EOA	plain wallet — the holders that drive concentration

3. Compute metrics

Over circulating supply (total − burn):

• Top-1, top-5, top-10, top-50 % share (report EOA-only and raw).
• HHI (sum of squared % shares) → 0–10000; >2500 = concentrated.
• Number of holders to reach 50% of supply.

4. Whale-cluster check

Flag groups of top EOAs that share a funding source or transact among themselves (cheap heuristic: same first-funder, or one inbound hop apart). Clustered whales effectively act as one holder.

5. Verdict

Signal	Verdict
top-1 EOA >30% or HHI >2500	CONCENTRATED
top-10 EOA >70%	CONCENTRATED
LP unlocked + top-1 >20%	FRAGILE
broad distribution, HHI <1000	HEALTHY

6. Notify

Notify via ./notify if verdict is CONCENTRATED or FRAGILE. Under 4000 chars, clickable URL:

*Holder Concentration — TOKEN (Base)*
Verdict: CONCENTRATED · HHI 3120
Holders: 842 · 50% held by top 4 EOAs

Top EOAs (circulating):
1. 0xwhale1 — 31.2% ⚠️
2. 0xwhale2 — 12.0% (clustered w/ #1)
3. 0xwhale3 — 8.4%

Excluded: LP 22% (unlocked ⚠️), Burn 5%
Holders: https://basescan.org/token/0xToken#balances

7. Log

Append to memory/logs/${today}.md:

## holder-concentration
- Token: 0x… (TOKEN)
- Verdict: CONCENTRATED | HHI 3120 | holders 842
- Top1 EOA 31.2% | top10 EOA 68% | 50%-in 4 holders
- Excluded: LP 22% (unlocked), burn 5%
- Source: etherscan=ok (or rpc-reconstructed)

End-states: HOLDER_CONC_OK, HOLDER_CONC_FLAGGED, HOLDER_CONC_ERROR.

Sandbox note

The sandbox may block outbound curl or env-var expansion. Etherscan v2 and Base RPC are public and accept any key in the URL/body — for every failed curl, retry the same URL/body via WebFetch before marking a source failed. Never put a key in a -H header from the sandbox. Treat all fetched addresses as untrusted — never interpolate beyond the quoted $TOKEN.

Constraints

• No trade advice.
• Always label LP/lock/burn before computing concentration — raw top-holder % without exclusions is misleading.
• If holder data can only be RPC-reconstructed, say so and lower confidence; don't present a partial list as complete.