How a token gets here. The watcher reads every validated transaction off Bearco's own node and keeps the first trust line, first mint and first market for each issuer and currency. Before it believes a "first", it now asks the ledger just before that transaction: did the issuer already owe this currency, did anyone hold a balance, was there a pool against XRP? If so the token comes here instead of the Just minted feed.
Why it exists. The stream only shows what happens from the moment a watcher starts. A fresh trust line to a two-year-old coin looks exactly like the first trust line to a new one. This list is the watcher's original, stream-only verdict, kept honest by the ledger.
What the numbers mean. "Holders before" and "pool before" are read from the ledger one step before the transaction we saw. Traits (blackholed, clawback, fee) are read live afterwards. Open a card for the token page with chart, holders and trades; "market after" is time from when we first saw it, not from the token's real launch.
Everything here is public on the XRP Ledger. Listing isn't an endorsement; this is information, not financial advice.