[hanklazard]

Yea, if you don’t request a refund, you don’t get it so yes, that % includes people who haven’t requested a refund.

Also, this token became a “meme coin” in the weeks that followed the auction loss, returning something like 10x or more on Uniswap. More sophisticated users traded their tokens there, rather than going through the official refund process.

[ShamelessC]

Another reason people wouldn't request a refund would be that they would actually lose money by doing so if their original spend was under 200$ because of "gas fees".