# PROOF POSIT PP-009

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## MASTHEAD

| Field | Value |
|---|---|
| **Proof Posit** | PP-009 |
| **Subject** | Robinhood Chain (chain ID 4663): swaps of the AMC stock token |
| **Title** | AMC's Token Traded at 60 Times Its Last Nasdaq Close or More in 295 Swaps, 293 of Them in One 17-Minute Sunday Episode |
| **Date** | 2026-10-05 |
| **Measurement window** | Genesis (block 0) to block 62,471,946 (2026-09-14 03:00:01 UTC). The episode: 2026-08-30 19:49:26 – 20:06:32 UTC. |
| **Pinned at** | Block 62,471,946 · hash `0x6be6970fbf6ebda579ae87bad4df04a3b7dd14486a40508a747d079fbef462eb` |
| **Chain** | Robinhood Chain, chain ID 4663 (an Arbitrum Orbit chain settling to Ethereum) |
| **Surface** | Index: Glass Hull's own full-history index (A1), decoded Swap events, and a second measurement over our archive extraction (A2); the two give the identical result object. A third reading of 381 of the 413 pools came from the public endpoint rpc.mainnet.chain.robinhood.com (eth_getLogs, fetched 2026-09-25T07:06:10Z; third-party). Reference prices: Nasdaq, Inc. Historical Data (api.nasdaq.com), retrieved 2026-09-23T04:07:17Z. |
| **Method hash** | `504fe6be2fe99362868cc06e55641101b53e003d9aec0ddecfe5d6c3446de8c4` (Glass Hull ledger, kind-3 3206142) · Method frozen 2026-09-28 05:59:32 UTC after exploratory measurement; the sealed figures are the re-run under the frozen method. |
| **Re-run hash** | Swaps at 60× or more: `c7487f8e1ac82c3a4d226e811ac5d81051fae5b9f0a3868d40ceb201056205d4` · population: `486115a7b5c0539de560777213419f10a6ac49ff35384dd34316560854f13276` · refute: `24ab6c0acccdebe297b9cec6fa4ba035749bdeb6c42039726ba06d5d36e22245` · `2c6ee4f7f78884785b908f20893e7207de065c265cad09eca96c85bbf478d1da` · `4e7a892775ec450345b105d1eb107d75fe11c584a7a2efb7e81859c40ee215c3` |
| **Supersedes / Corrects** | Replaces the unfrozen B4 computation (Glass Hull ledger 3141621, 3141867, 3151048): the population is 413 pools, not 381, and 2,092 WETH-paired swaps are now priced. |
| **How to cite** | Glass Hull, Proof Posit PP-009, “AMC's Token Traded at 60 Times Its Last Nasdaq Close or More in 295 Swaps, 293 of Them in One 17-Minute Sunday Episode,” Jet Fyul Dynamics LLC (2026), gh.jetfyul.com/posits/PP-009/ |

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## I. SUMMARY

A public claim held that AMC's token traded at 60 times the stock.

We priced every swap of the AMC token in the 413 Uniswap V4 pools that pair it with native ETH, WETH or USDG, from the chain's first block to block 62,471,946, against AMC's last Nasdaq close before each swap.

- **It happened, briefly.** 295 swaps executed at 60 times AMC's last Nasdaq close or more. Together they came to $82,728.58, 0.0467% of the $177,064,490.06 of AMC token volume in those pools.
- **293 of the 295 were one episode:** Sunday 30 August 2026, 19:49:26 to 20:06:32 UTC (17 minutes), in 4 pools, from 190 distinct sending addresses. The stock market was closed; the reference was the Friday 28 August close, $2.59.
- **The largest multiple on a trade of $1 or more was 73.37×:** a $496.15 swap at 20:00:17 UTC that day, in an ETH-paired pool, at $190.02 per token. A higher print, 88.81× on 8 September, was a trade of 2 micro-USDG ($0.000002) for 8,498,388,764 of the token's smallest units (about 8.5 billionths of one AMC token) and is not a meaningful price.
- **That Sunday was dislocated all day, and it was the only such day.** On 30 August the median swap of $1 or more priced AMC at 10.217× the Friday close; 59.92% of the day's $5,457,011.22 of volume traded at 10× or more, and 99.05% at 2× or more. No other day of the 33 measured had 1% or more of its volume at 10× or more.

Two measurements of our own, on different engines, agree exactly: the index, and a second pass over our archive extraction. Both hold the same 387,152 swaps and emit the identical result, the same 295 swaps at 60 times or more among them. A third reading of 381 pools from a public endpoint matches swap for swap.

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## II. METRIC OBJECTIVE

**The public claim under test.** A public claim held that AMC's token traded at 60 times the stock.

**What we measured.** For every AMC token swap in the 413 pools:
- its execution price per token, as an exact ratio of the two legs
- its multiple of the reference close: execution price divided by AMC's last Nasdaq session close before the swap
- how many swaps executed at 60 times the reference or more, when, where, and how large they were
- for each UTC day, on swaps of $1 or more: the median multiple, the volume-weighted median, and the share of dollar volume at 2 times or more and at 10 times or more

**The reporting rule.** Every swap at 60 times or more is counted. The maximum is quoted for trades of $1 or more; a smaller trade's price can move by half on one unit of rounding.

---

## III. FINDINGS

| Measure | Value |
|---|---|
| AMC token swaps in the 413 pools, genesis to block 62,471,946 | 387,152 (387,114 priced, 38 without a price) |
| Their dollar volume | $177,064,490.06 (USDG-paired $132,255,078.32; ETH-paired, converted, $44,809,411.74: native ETH $15,033,880.22, WETH $29,775,531.52) |
| Swaps at 60 times the reference close or more | **295** |
| Their dollar volume | $82,728.58 (USDG-paired $716.71; ETH-paired, converted, $82,011.86) |
| Their share of all AMC token volume in these pools | 0.0467% |
| Blocks in which they fall | 50,270,859 to 57,876,792 |
| Largest multiple, trades of $1 or more | **73.37×** ($496.15, 2026-08-30 20:00:17 UTC) |
| Largest multiple, any size | 88.81× (block 57,876,792, 2026-09-08 17:41:52 UTC, against the 2026-09-04 close of $2.65, the prior session; transaction `0x3749d8926ad73d5126d3ababb5790efa2941af371250b778c1801a98a6fbd931`; a trade of 2 micro-USDG for 8,498,388,764 of the token's smallest units) |

**By date, swaps at 60 times or more:**

| Date (UTC) | Swaps at ≥ 60× | Their volume | That day's AMC volume (413 pools) | Share of the day | Largest multiple | Pools |
|---|---|---|---|---|---|---|
| 2026-08-30 | 293 | $82,724.86 | $5,457,011.22 | 1.5159% | 73.37× | 4 |
| 2026-08-31 | 1 | $3.72 | $2,473,363.03 | 0.0002% | 71.41× | 1 |
| 2026-09-08 | 1 | under $0.01 (2 micro-USDG) | $6,245,522.50 | 0.0000% | 88.81× | 1 |

**The largest multiple, by minimum trade size:**

| Trades of at least | Swaps at ≥ 60× | Their volume | Largest multiple | At (UTC) | That trade's size |
|---|---|---|---|---|---|
| any size | 295 | $82,728.58 | 88.81× | 2026-09-08T17:41:52Z | under $0.01 |
| $1 | 292 | $82,727.83 | 73.37× | 2026-08-30T20:00:17Z | $496.15 |
| $10 | 234 | $82,419.88 | 73.37× | 2026-08-30T20:00:17Z | $496.15 |
| $100 | 125 | $77,738.64 | 73.37× | 2026-08-30T20:00:17Z | $496.15 |
| $1,000 | 12 | $36,004.06 | 69.45× | 2026-08-30T20:00:37Z | $1,749.72 |

**The episode, Sunday 30 August 2026:**
- 293 swaps at 60 times or more between 19:49:26 and 20:06:32 UTC (17 minutes), from 190 distinct sending addresses; the most active address sent 31 of them.
- They ran through 4 pools: one native-ETH pool (0x0b0d11e6…, 268 swaps, $82,011.86 converted) and 3 USDG pools (25 swaps, $713.00).
- Together they came to $82,724.86, 1.5159% of that day's $5,457,011.22 of AMC token volume in these pools.
- In the hour from 19:30 to 20:30 UTC there were 5,707 AMC token swaps, worth $1,578,559.67 in total; all 293 of the swaps at 60 times or more fall in that hour.
- The largest multiple on a trade of $1 or more: 73.37× in block 50,277,265 (log 122), transaction `0x8636b6660b611c3212ae792f25556143d5ad0c30797c286b139f4080739d7e96`, a $496.15 buy at $190.02 per token against the Friday close of $2.59. Exact ratio to the close: `6201823612500000000000/84532670514064413683`.

**The whole of 30 August, swaps of $1 or more, both measurements:**

| Measure | Index (A1) | Archive extraction (A2) | USDG-paired swaps only (no conversion) |
|---|---|---|---|
| Swaps | 27,909 | identical (result object digest `9cf0f24c8e9f88232f78958f7b4f6dea2838bb15c720a03aa31ee869e4988b72`) | 7,254 |
| Dollar volume (all priced swaps) | $5,457,011.22 | ″ | $985,512.25 |
| Median multiple | 10.217× | ″ | 8.417× |
| Volume-weighted median multiple | 11.714× | ″ | 8.198× |
| Share of volume at 2× or more | 99.05% | ″ | 99.99% |
| Share of volume at 10× or more | 59.92% | ″ | 11.04% |
| Volume at 10× or more | $3,269,704.68 | ″ | $108,823.52 |
| First swap at 10× or more (UTC) | 04:24:53 | ″ | 04:24:53 |
| Last swap at 10× or more (UTC) | 23:25:57 | ″ | 22:47:46 |

**Was 30 August unusual?** Of the 33 days measured, from 13 August to 14 September, it is the only day with 1% or more of its volume at 10 times or more. The next-highest daily median was 2.59×, on 13 August, on $17,439.61 of volume. On the 5 other weekend days with at least 20 swaps of $1 or more, the median of daily medians was 1.01×; on the 21 weekdays it was 1.00×.

**The pools where swaps reached 60 times or more** (Uniswap V4 pool IDs):

- `0x06b9732431bd134599dd112a93c708fe80cadd2fb7dc750fe632e1cbf49fd8c0`
- `0x0b0d11e649641178fdc29a69af6161e6194c24b99cd62a164062be1e8e348d4f`
- `0x151df68ff89c105826c3e691174bf7f5cda867848078fe3be690d394fde610b3`
- `0x216d0d8fab1557748bcba24c27c8f2631c964ab6a206cb38a41cd1998d1b23a8`
- `0xcdc85e8bc6d8799274410998ddd1e86b10b83a39c315a010b2a65821e417e905`

### III.i PROOFS (ABRIDGED)

**Pass arm.** The frozen statements were re-run on the index after the method was frozen. The population statement returns 413 pools, 387,152 swaps and 295 at 60 times or more (re-run `486115a7b5c0539de560777213419f10a6ac49ff35384dd34316560854f13276`); the list of those swaps is re-run `c7487f8e1ac82c3a4d226e811ac5d81051fae5b9f0a3868d40ceb201056205d4`.

**Second measurement.** A separate program read the same events from our archive extraction on a different engine and computed every figure again in exact integer arithmetic. It emits the identical result object: digest `9cf0f24c8e9f88232f78958f7b4f6dea2838bb15c720a03aa31ee869e4988b72` on both, 12,948 fields compared, 0 differing.

**Refute arm.** Four nulls could explain the prints away; each was tested under a rule fixed before the re-run.
- *The dollar conversion made them.* Then no USDG-paired swap, which needs no conversion, would reach 60×. 27 did. Refuted.
- *The USDG leg made them.* Then no ETH-paired swap, whose pool holds no USDG, would reach 60×. 268 did, while the ETH price used to convert them stayed between $2,498.54 and $2,511.69. Refuted.
- *Stale pool prices made them.* Then the pools would have sat untraded before these swaps. 290 of the 295 came within 60 seconds of the pool's previous swap (median 0 seconds; longest 976 seconds). Refuted.
- *The instrument is off.* On ordinary trading days the same measurement must return par. On the 21 weekdays the median of daily medians is 1.004×. Passed.

**Third reading.** For 381 pools, the Swap logs read from a public endpoint match our archive extraction swap for swap: 386,668 matched on block and log index, 0 only in ours, 0 only on the endpoint, 0 amount differences.

**Population.** Every pool the chain's Uniswap V4 PoolManager initialized with the AMC token and native ETH, WETH or USDG, genesis to block 62,471,946: 413 pools (64 native ETH, 10 WETH, 339 USDG), 327 of them with swaps. An earlier, unfrozen count used 381 pools from a list that ended at block 55,926,601; the 32 pools created after it add 484 swaps and none at 60 times or more.

**Records.** Glass Hull ledger 3206142 (frozen method), 3206241 (re-run), 3206990 (second measurement, comparison and coverage), 3205361 (the ruling on reference prices).

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## IV. LIMITS OF OBSERVATION

1. **The reference is a closing price, not a live one.** Each swap is compared with AMC's last Nasdaq session close before it. On Sunday 30 August the stock market was closed and the reference was the Friday 28 August close, $2.59. A multiple states the token's price against that close; it is not a reading of the share's value at that minute.
2. **ETH-paired swaps are converted.** Their ETH or WETH leg is converted to dollars at the price of the reference pool 0x24107d15… (native ETH / USDG, Uniswap V4, the most-swapped ETH/USDG pool), read at or before the swap's block as an exact ratio, rounded down; WETH counts one for one with ETH. USDG-paired figures involve no conversion.
3. **Scope.** The finding covers the 413 Uniswap V4 pools paired with native ETH, WETH or USDG. AMC pools with other pairings, and Uniswap V3 pools, are outside it. 38 swaps in scope could not be priced (a zero leg) and carry no volume. Dollar volume is the USDG leg.
4. **Addresses, not people.** The chain records sending addresses. Who traded, and why, is not observable from it.
5. **A third-party endpoint.** The third reading used the public endpoint rpc.mainnet.chain.robinhood.com. No figure depends on it.
6. **Reference data.** Closing prices are from Nasdaq, Inc. Historical Data (api.nasdaq.com), retrieved 2026-09-23T04:07:17Z. They are facts, cited at source; they are used to compute a comparison, and the price series is not republished.
7. **Dollar amounts are rounded to the cent for display.** Exact values govern: for example, all AMC token volume in scope is exactly 177064490060303/1000000 dollars, and the swaps at 60 times or more 5170535963/62500.
8. **The window ends at the pinned block.** Later activity is not included.

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## V. CONCLUSION

AMC's token did trade at 60 times AMC's last Nasdaq close or more: in 295 swaps, 293 of them within 17 minutes on Sunday 30 August 2026, together $82,728.58. Those swaps were 0.0467% of the token's volume in these pools. What held for the whole of that Sunday is broader: with the stock market closed, the typical AMC token swap priced AMC at 10.217 times its Friday close, and no other day came near it.

This finding measures prices on the chain against a published close. It draws no conclusion about any party's statements, systems or intentions.

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## VI. GLOSSARY AND DEFINITIONS

- **AMC token.** The tokenized AMC Entertainment stock traded on Robinhood Chain.
- **Swap.** One exchange of the AMC token for another asset in a pool, as recorded by a Swap event.
- **Reference close.** AMC's last Nasdaq session closing price before the swap.
- **Multiple.** A swap's execution price per token divided by the reference close.
- **USDG-paired / ETH-paired.** Pools in which the AMC token trades against USDG (dollars) or against native ETH or WETH.
- **Pinned height.** The last block included in the measurement, identified by number *and* hash.
- **Both arms.** The pass arm shows the result. The refute arm shows the same method would have returned the opposite result had it been true.
- **Second measurement.** The same figures computed again by a different engine from our archive extraction; the two must agree exactly.
- **Re-run hash.** Confirms a result obtained with the method; the method is in The Full Proof.
- **Frozen method.** A method fixed and hashed before the sealed re-run.

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## VII. ADDITIONAL RESOURCES

If you would like to read more of our series, Proof Posits, you may go [here](https://gh.jetfyul.com/#posits). And if you would like to test yourself against a locked call, our prediction series — The Hull Against the Machine — seals each prediction before the event and reveals it on a timer. The series is [here](https://gh.jetfyul.com/hull-against-the-machine/). The Full Proof for this finding, the peg Full Proof, is available at a fixed price [here](https://gh.jetfyul.com/full-proof/).

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## SEAL AND VALIDATION

**Seal record:** this document's seal — its ledger event, both hardware witnesses and its Bitcoin anchor — is recorded on its verification page, https://gh.jetfyul.com/v/JFD-20261005-PP-00001, and in its certificate of authenticity, JFD-20261005-CERT-00001, not in these pages.

**To validate this Posit without contacting us:**
1. Compute the SHA-256 of this document.
2. Look up the ledger event.
3. Verify both hardware signatures.
4. Verify the Bitcoin anchor.
5. If you prefer, verify on Robinhood Chain itself: it verifies P-256 natively at `0x100` (RIP-7212).

If your bytes differ from ours, kindly let us know publicly or privately. A difference is still a finding.