The complete list of addresses with a non-zero balance, not just the top of it. It is built from blockchain events rather than from an explorer, and checked against the token's total supply: until the sum of every balance matches that supply down to the last wei, the list is not published.
Sorted by balance. Search accepts either a full address or the beginning of one — a few characters after 0x are enough.
Addresses carry a label wherever one is known: exchanges, liquidity pools and Rainbow's own contracts. The rest have no label anywhere — those are ordinary wallets.
An address's balance equals everything that came in minus everything that went out. So the list of holders and their balances can be rebuilt from the token's transfer log alone, without a single request to an explorer.
The token contract was deployed in block 41349994. From there to the head of the chain, every Transfer event is read — on the order of three hundred and sixty thousand of them. The pass is resumable: it saves its state along the way and, if interrupted, continues from where it stopped instead of starting over.
The amount is subtracted from the sender and added to the recipient. The zero address does not enter the list: minting and burning pass through it, and it is not a holder.
The sum of all positive balances must match the contract's totalSupply(). Match exactly, not approximately: arithmetic over events does not round, so a discrepancy would mean lost events. If it does not match, the output is not overwritten; the pass runs again and picks up what it missed.
Why not the explorer. Blockscout has a ready-made list, but it is served fifty addresses at a time — for fifty-odd thousand addresses that is over a thousand requests. After fifty it shuts you out for hours and, far worse, starts returning incomplete answers with no sign of truncation at all. That is how we once lost 61.5% of the cashback total, before the source was switched to nodes. A list assembled that way would be silently wrong — which is worse than having no list. And there would be nothing to check it against: the explorer offers no figure the total could be verified with.
Holding the token and holding a staking position are different things, and the two sets barely overlap: fifty-odd thousand holders against roughly three thousand stakers. An address that locked its whole balance in staking becomes zero and drops out of this list — the tokens are now counted against the staking contract, not against a person.
The list contains liquidity pools, the staking contract and the treasury. Those are addresses, not owners, and adding them to wallets as "holders" would be wrong. That is why the known ones are labelled — so you can see them and subtract them.
The reverse is true as well: behind a single exchange address stand thousands of people. The number of rows in this list is a number of addresses, not of owners, and it must not be read as a number of people.
The data updates itself: after the first full pass the collector reads only new blocks. It is served as /api/holdersall/index.json and files of five hundred rows beside it.