Liquidity is more than a number.
Separate pool state, executable depth, custody and withdrawal conditions.
Inventory before aggregation
Identify the selected pool, architecture, assets and snapshot before interpreting reserves. One discovered route is not a complete market inventory. A verified USD total requires a qualified quote and consistent asset units; unavailable prices remain unavailable.
A curve needs a stated model
A reserve-derived V2 curve estimates behavior under its constant-product and fee assumptions. It does not include every transfer restriction, dynamic token fee, MEV effect or competing transaction. A V3 pool requires its own qualified liquidity and tick coverage; a V2 curve is not substituted.
Custody is a separate question
An LP holder balance, a burn destination, a recorded lock and a scheduled unlock each support different claims. A future timestamp does not prove a withdrawal will succeed. The report keeps lock coverage, beneficiary and enforcement gaps visible instead of turning them into a safety badge.