diff --git a/CLAUDE.md b/CLAUDE.md
index 3e85cca7b9..aaf88a51cc 100644
--- a/CLAUDE.md
+++ b/CLAUDE.md
@@ -8,7 +8,7 @@ This file provides guidance to Claude Code (claude.ai/code) when working with co
 
 Perry is a native TypeScript compiler written in Rust that compiles TypeScript source code directly to native executables. It uses SWC for TypeScript parsing and LLVM for code generation.
 
-**Current Version:** 0.5.1587
+**Current Version:** 0.5.1588
 
 
 ## TypeScript Parity Status
diff --git a/Cargo.lock b/Cargo.lock
index 2bf30b37a8..b57491dd5e 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -5623,7 +5623,7 @@ checksum = "fc61f41aef38c94e922057977bcb33bf185ab42242188719991ecfdc0fa1fe6b"
 
 [[package]]
 name = "perry"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "anyhow",
  "base64 0.22.1",
@@ -5687,7 +5687,7 @@ dependencies = [
 
 [[package]]
 name = "perry-api-manifest"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "perry-dispatch",
  "serde",
@@ -5695,7 +5695,7 @@ dependencies = [
 
 [[package]]
 name = "perry-audio-miniaudio"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "cc",
  "libc",
@@ -5704,7 +5704,7 @@ dependencies = [
 
 [[package]]
 name = "perry-codegen"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "aho-corasick",
  "anyhow",
@@ -5721,7 +5721,7 @@ dependencies = [
 
 [[package]]
 name = "perry-codegen-arkts"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "anyhow",
  "perry-hir",
@@ -5729,7 +5729,7 @@ dependencies = [
 
 [[package]]
 name = "perry-codegen-glance"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "anyhow",
  "perry-hir",
@@ -5737,7 +5737,7 @@ dependencies = [
 
 [[package]]
 name = "perry-codegen-js"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "anyhow",
  "perry-dispatch",
@@ -5746,7 +5746,7 @@ dependencies = [
 
 [[package]]
 name = "perry-codegen-swiftui"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "anyhow",
  "perry-hir",
@@ -5754,7 +5754,7 @@ dependencies = [
 
 [[package]]
 name = "perry-codegen-wasm"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "anyhow",
  "base64 0.22.1",
@@ -5766,7 +5766,7 @@ dependencies = [
 
 [[package]]
 name = "perry-codegen-wear-tiles"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "anyhow",
  "perry-hir",
@@ -5774,7 +5774,7 @@ dependencies = [
 
 [[package]]
 name = "perry-container-compose"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "async-trait",
  "clap",
@@ -5798,14 +5798,14 @@ dependencies = [
 
 [[package]]
 name = "perry-container-e2e"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "anyhow",
 ]
 
 [[package]]
 name = "perry-diagnostics"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "serde",
  "serde_json",
@@ -5813,7 +5813,7 @@ dependencies = [
 
 [[package]]
 name = "perry-dispatch"
-version = "0.5.1587"
+version = "0.5.1588"
 
 [[package]]
 name = "perry-doc-fixture-my-bindings"
@@ -5824,7 +5824,7 @@ dependencies = [
 
 [[package]]
 name = "perry-doc-tests"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "anyhow",
  "clap",
@@ -5839,7 +5839,7 @@ dependencies = [
 
 [[package]]
 name = "perry-ext-ads"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "block2",
  "objc2",
@@ -5849,7 +5849,7 @@ dependencies = [
 
 [[package]]
 name = "perry-ext-argon2"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "argon2",
  "perry-ffi",
@@ -5858,7 +5858,7 @@ dependencies = [
 
 [[package]]
 name = "perry-ext-axios"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "perry-ffi",
  "reqwest",
@@ -5867,7 +5867,7 @@ dependencies = [
 
 [[package]]
 name = "perry-ext-bcrypt"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "bcrypt",
  "perry-ffi",
@@ -5875,7 +5875,7 @@ dependencies = [
 
 [[package]]
 name = "perry-ext-better-sqlite3"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "perry-ffi",
  "rusqlite",
@@ -5883,7 +5883,7 @@ dependencies = [
 
 [[package]]
 name = "perry-ext-cheerio"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "perry-ffi",
  "scraper",
@@ -5891,7 +5891,7 @@ dependencies = [
 
 [[package]]
 name = "perry-ext-commander"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "perry-ffi",
  "perry-runtime",
@@ -5899,7 +5899,7 @@ dependencies = [
 
 [[package]]
 name = "perry-ext-cron"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "chrono",
  "cron",
@@ -5909,7 +5909,7 @@ dependencies = [
 
 [[package]]
 name = "perry-ext-dayjs"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "chrono",
  "perry-ffi",
@@ -5917,7 +5917,7 @@ dependencies = [
 
 [[package]]
 name = "perry-ext-decimal"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "perry-ffi",
  "rust_decimal",
@@ -5925,7 +5925,7 @@ dependencies = [
 
 [[package]]
 name = "perry-ext-dotenv"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "perry-ffi",
  "serde_json",
@@ -5933,7 +5933,7 @@ dependencies = [
 
 [[package]]
 name = "perry-ext-ethers"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "perry-ffi",
  "rand 0.10.2",
@@ -5941,7 +5941,7 @@ dependencies = [
 
 [[package]]
 name = "perry-ext-events"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "perry-ffi",
  "perry-runtime",
@@ -5949,14 +5949,14 @@ dependencies = [
 
 [[package]]
 name = "perry-ext-exponential-backoff"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "perry-ffi",
 ]
 
 [[package]]
 name = "perry-ext-fastify"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "bytes",
  "http-body-util",
@@ -5973,7 +5973,7 @@ dependencies = [
 
 [[package]]
 name = "perry-ext-fetch"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "bytes",
  "lazy_static",
@@ -5986,7 +5986,7 @@ dependencies = [
 
 [[package]]
 name = "perry-ext-http"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "base64 0.22.1",
  "bytes",
@@ -6018,7 +6018,7 @@ dependencies = [
 
 [[package]]
 name = "perry-ext-ioredis"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "lazy_static",
  "perry-ffi",
@@ -6028,7 +6028,7 @@ dependencies = [
 
 [[package]]
 name = "perry-ext-jsonwebtoken"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "base64 0.22.1",
  "jsonwebtoken",
@@ -6039,7 +6039,7 @@ dependencies = [
 
 [[package]]
 name = "perry-ext-lru-cache"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "lru",
  "perry-ffi",
@@ -6048,7 +6048,7 @@ dependencies = [
 
 [[package]]
 name = "perry-ext-moment"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "chrono",
  "perry-ffi",
@@ -6056,7 +6056,7 @@ dependencies = [
 
 [[package]]
 name = "perry-ext-mongodb"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "bson",
  "futures-util",
@@ -6068,7 +6068,7 @@ dependencies = [
 
 [[package]]
 name = "perry-ext-mysql2"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "chrono",
  "perry-ffi",
@@ -6080,7 +6080,7 @@ dependencies = [
 
 [[package]]
 name = "perry-ext-nanoid"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "nanoid",
  "perry-ffi",
@@ -6089,7 +6089,7 @@ dependencies = [
 
 [[package]]
 name = "perry-ext-net"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "bytes",
  "perry-ffi",
@@ -6104,7 +6104,7 @@ dependencies = [
 
 [[package]]
 name = "perry-ext-node-forge"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "const-oid 0.10.2",
  "der 0.8.2",
@@ -6123,7 +6123,7 @@ dependencies = [
 
 [[package]]
 name = "perry-ext-nodemailer"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "lettre",
  "perry-ffi",
@@ -6133,7 +6133,7 @@ dependencies = [
 
 [[package]]
 name = "perry-ext-parcel-watcher"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "notify",
  "perry-ffi",
@@ -6145,7 +6145,7 @@ dependencies = [
 
 [[package]]
 name = "perry-ext-pdf"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "perry-ffi",
  "printpdf",
@@ -6153,7 +6153,7 @@ dependencies = [
 
 [[package]]
 name = "perry-ext-pg"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "perry-ffi",
  "sqlx",
@@ -6162,7 +6162,7 @@ dependencies = [
 
 [[package]]
 name = "perry-ext-qs"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "perry-ffi",
  "perry-runtime",
@@ -6171,7 +6171,7 @@ dependencies = [
 
 [[package]]
 name = "perry-ext-ratelimit"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "governor",
  "perry-ffi",
@@ -6179,7 +6179,7 @@ dependencies = [
 
 [[package]]
 name = "perry-ext-sharp"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "fast_image_resize",
  "image",
@@ -6190,7 +6190,7 @@ dependencies = [
 
 [[package]]
 name = "perry-ext-streams"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "lazy_static",
  "perry-ffi",
@@ -6199,7 +6199,7 @@ dependencies = [
 
 [[package]]
 name = "perry-ext-typescript"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "anyhow",
  "perry-ffi",
@@ -6219,7 +6219,7 @@ dependencies = [
 
 [[package]]
 name = "perry-ext-undici"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "perry-ffi",
  "perry-runtime",
@@ -6228,7 +6228,7 @@ dependencies = [
 
 [[package]]
 name = "perry-ext-uuid"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "perry-ffi",
  "uuid",
@@ -6236,7 +6236,7 @@ dependencies = [
 
 [[package]]
 name = "perry-ext-validator"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "perry-ffi",
  "perry-validation",
@@ -6245,7 +6245,7 @@ dependencies = [
 
 [[package]]
 name = "perry-ext-ws"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "futures-util",
  "lazy_static",
@@ -6258,7 +6258,7 @@ dependencies = [
 
 [[package]]
 name = "perry-ext-zlib"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "brotli",
  "flate2",
@@ -6268,7 +6268,7 @@ dependencies = [
 
 [[package]]
 name = "perry-ffi"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "dashmap 6.2.1",
  "once_cell",
@@ -6278,7 +6278,7 @@ dependencies = [
 
 [[package]]
 name = "perry-hir"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "anyhow",
  "perry-api-manifest",
@@ -6298,11 +6298,11 @@ dependencies = [
 
 [[package]]
 name = "perry-native-registration"
-version = "0.5.1587"
+version = "0.5.1588"
 
 [[package]]
 name = "perry-parser"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "anyhow",
  "perry-diagnostics",
@@ -6315,7 +6315,7 @@ dependencies = [
 
 [[package]]
 name = "perry-perex"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "perex",
  "regex",
@@ -6323,7 +6323,7 @@ dependencies = [
 
 [[package]]
 name = "perry-runtime"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "ahash",
  "base64 0.22.1",
@@ -6381,14 +6381,14 @@ dependencies = [
 
 [[package]]
 name = "perry-runtime-static"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "perry-runtime",
 ]
 
 [[package]]
 name = "perry-stdlib"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "aes 0.8.4",
  "aes 0.9.1",
@@ -6477,21 +6477,21 @@ dependencies = [
 
 [[package]]
 name = "perry-stdlib-static"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "perry-stdlib",
 ]
 
 [[package]]
 name = "perry-transform"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "perry-hir",
 ]
 
 [[package]]
 name = "perry-ui"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "dirs",
  "perry-ffi",
@@ -6501,7 +6501,7 @@ dependencies = [
 
 [[package]]
 name = "perry-ui-android"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "base64 0.22.1",
  "jni",
@@ -6516,7 +6516,7 @@ dependencies = [
 
 [[package]]
 name = "perry-ui-geisterhand"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "rand 0.10.2",
  "serde",
@@ -6526,7 +6526,7 @@ dependencies = [
 
 [[package]]
 name = "perry-ui-gtk4"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "base64 0.22.1",
  "cairo-rs 0.22.9",
@@ -6549,7 +6549,7 @@ dependencies = [
 
 [[package]]
 name = "perry-ui-ios"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "base64 0.22.1",
  "block2",
@@ -6566,7 +6566,7 @@ dependencies = [
 
 [[package]]
 name = "perry-ui-macos"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "base64 0.22.1",
  "block2",
@@ -6583,7 +6583,7 @@ dependencies = [
 
 [[package]]
 name = "perry-ui-model"
-version = "0.5.1587"
+version = "0.5.1588"
 
 [[package]]
 name = "perry-ui-test"
@@ -6594,11 +6594,11 @@ dependencies = [
 
 [[package]]
 name = "perry-ui-testkit"
-version = "0.5.1587"
+version = "0.5.1588"
 
 [[package]]
 name = "perry-ui-tvos"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "base64 0.22.1",
  "block2",
@@ -6615,7 +6615,7 @@ dependencies = [
 
 [[package]]
 name = "perry-ui-visionos"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "base64 0.22.1",
  "block2",
@@ -6632,7 +6632,7 @@ dependencies = [
 
 [[package]]
 name = "perry-ui-watchos"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "block2",
  "libc",
@@ -6646,7 +6646,7 @@ dependencies = [
 
 [[package]]
 name = "perry-ui-windows"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "base64 0.22.1",
  "libc",
@@ -6665,7 +6665,7 @@ dependencies = [
 
 [[package]]
 name = "perry-ui-windows-winui"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "base64 0.22.1",
  "libc",
@@ -6678,7 +6678,7 @@ dependencies = [
 
 [[package]]
 name = "perry-updater"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "anyhow",
  "base64 0.22.1",
@@ -6693,7 +6693,7 @@ dependencies = [
 
 [[package]]
 name = "perry-validation"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "idna",
  "regex",
@@ -6703,7 +6703,7 @@ dependencies = [
 
 [[package]]
 name = "perry-wasm-host"
-version = "0.5.1587"
+version = "0.5.1588"
 dependencies = [
  "wasmi",
 ]
diff --git a/Cargo.toml b/Cargo.toml
index 93b4774199..bec99c356b 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -338,7 +338,7 @@ codegen-units = 1
 codegen-units = 1
 
 [workspace.package]
-version = "0.5.1587"
+version = "0.5.1588"
 edition = "2021"
 license = "MIT"
 repository = "https://github.com/PerryTS/perry"
diff --git a/changelog.d/10349-cjs-preamble-cost.md b/changelog.d/10349-cjs-preamble-cost.md
new file mode 100644
index 0000000000..9ea0c5421a
--- /dev/null
+++ b/changelog.d/10349-cjs-preamble-cost.md
@@ -0,0 +1,23 @@
+The CommonJS wrapper preamble is emitted into every wrapped module, so its
+fixed cost is paid once per module in the dependency graph. Four changes cut it
+by a third on a 400-module fixture (598,533 to 397,896 instructions per
+module):
+
+* One `createRequire` instance per program instead of one per module. The call
+  costs ~117,000 instructions and was made once per module, plus again inside
+  `require` for every builtin specifier. It is used only for `.cache`,
+  `.extensions` and loading builtins, all of which are process-global in Node.
+* `require.cache = {}` and `require.extensions = { … }` were dead stores,
+  overwritten on the following line — an object and three closures allocated
+  and dropped per module.
+* The builtin-specifier test uses `isBuiltin` from `node:module` instead of a
+  switch over all 58 builtin names emitted into every module, which interned
+  ~120 string constants per module. **This also fixes a divergence:** the
+  switch accepted the bare spellings of `sea`, `sqlite`, `test` and
+  `test/reporters`, which are builtins only in their `node:` form, so
+  `require("test")` could resolve to the builtin instead of a local module.
+* The module record is built as one object literal rather than eleven
+  sequential assignments, so it is allocated with its final shape instead of
+  walking eleven shape transitions. `cjs_scaffolding`'s recogniser is widened
+  to match the folded template; that rule carries no soundness weight and the
+  allocation half of the collector is report-only.
diff --git a/crates/perry-codegen/src/collectors/cjs_scaffolding.rs b/crates/perry-codegen/src/collectors/cjs_scaffolding.rs
index 8801eec9c0..c7e989edbd 100644
--- a/crates/perry-codegen/src/collectors/cjs_scaffolding.rs
+++ b/crates/perry-codegen/src/collectors/cjs_scaffolding.rs
@@ -99,8 +99,10 @@
 //!
 //! * **R1** `Stmt::Let` named `__cjs_module`, `mutable: false`, initialized by
 //!   an `Expr::New` of an `__AnonShape_…` class (an object literal);
-//! * **R2** that literal is exactly `{ exports: {} }` — one field whose value
-//!   is an argument-less `__AnonShape_…` allocation;
+//! * **R2** that literal is `{ exports: {} }` — one field whose value is an
+//!   argument-less `__AnonShape_…` allocation — or one of the two folded
+//!   wrapper templates (eight or eleven fixed fields) that lowering produces
+//!   when `wrap.rs` emits the record as a single object literal;
 //! * **R3** exactly one top-level statement satisfying R1+R2, so "the record"
 //!   is unambiguous;
 //! * **R4** the same top level binds `var module = __cjs_module` —
@@ -500,6 +502,13 @@ fn record_binding(stmt: &Stmt) -> Option<u32> {
     if !inner.starts_with(ANON_SHAPE_PREFIX) || !inner_args.is_empty() {
         return None;
     }
+    // The eight fixed fields the wrapper folds into the record literal, and the
+    // eleven-field form that also folds `parent`, `paths` and `require`.
+    //
+    // R2 carries no soundness weight (see the module doc: R4 alone discharges
+    // the obligation, and this half is report-only). Widening it can therefore
+    // only change whether Perry's own scaffolding is reported as a denied user
+    // candidate — never what codegen does.
     let folded_template = matches!(
         args.as_slice(),
         [
@@ -514,6 +523,24 @@ fn record_binding(stmt: &Stmt) -> Option<u32> {
         ] if matches!(factory, Expr::LocalGet(_) | Expr::Undefined)
             && id_value == filename
             && children.is_empty()
+    ) || matches!(
+        args.as_slice(),
+        [
+            _,
+            Expr::Bool(true),
+            factory,
+            Expr::String(id_value),
+            Expr::String(_path),
+            Expr::String(filename),
+            Expr::Bool(false),
+            Expr::Array(children),
+            _parent,
+            Expr::Array(paths),
+            Expr::Undefined,
+        ] if matches!(factory, Expr::LocalGet(_) | Expr::Undefined)
+            && id_value == filename
+            && children.is_empty()
+            && paths.len() == 1
     );
     (args.len() == 1 || folded_template).then_some(*id)
 }
diff --git a/crates/perry-runtime/src/gc/tests/copy_slot_hoists.rs b/crates/perry-runtime/src/gc/tests/copy_slot_hoists.rs
index d0f1fbd172..9c295b7fe1 100644
--- a/crates/perry-runtime/src/gc/tests/copy_slot_hoists.rs
+++ b/crates/perry-runtime/src/gc/tests/copy_slot_hoists.rs
@@ -1,10 +1,15 @@
-//! The copying minor reads two facts once per traced object that it used to
-//! re-derive for every slot of that object: whether the parent is a weak
-//! holder, and whether the parent is in old-gen.
+//! The copying minor reads the parent's weak-holder fact once per traced
+//! object instead of re-deriving it for every slot of that object (#10362).
 //!
-//! Both are pinned by a COLLECTION and its observable outcome, not by reading
-//! the hoisted value back — and each has a sabotaged twin that forgets the
-//! fact, so the hoist is shown to be load-bearing rather than merely present.
+//! Pinned by a COLLECTION and its observable outcome, not by reading the
+//! hoisted value back, and paired with a sabotaged twin that forgets the fact,
+//! so the hoist is shown to be load-bearing rather than merely present.
+//!
+//! The parent's old-generation fact is deliberately NOT hoisted, so there is no
+//! test for it here. No sabotage of that hoist could be made to fail: sticky
+//! dirty-page coverage carries an old→young edge independently of the
+//! remembered-set re-insertion the fact controls. A future hoist of it needs
+//! its own witness first (#10388).
 
 use super::super::*;
 use super::support::*;
diff --git a/crates/perry/src/commands/compile/cjs_wrap/preamble_canary_tests.rs b/crates/perry/src/commands/compile/cjs_wrap/preamble_canary_tests.rs
index cbacddaefa..5f5b6a780d 100644
--- a/crates/perry/src/commands/compile/cjs_wrap/preamble_canary_tests.rs
+++ b/crates/perry/src/commands/compile/cjs_wrap/preamble_canary_tests.rs
@@ -115,7 +115,13 @@ fn the_canary_chain_still_reports_a_genuine_barrier() {
 /// `defineProperty(require, 'name', …)`, `require.cache = {}`,
 /// `require.extensions = { … }`, and the transpiler's
 /// `defineProperty(exports, "__esModule", …)`.
-const EXPECTED_PREAMBLE_ALLOC_STMTS: usize = 5;
+/// Lowered from 5: the preamble no longer emits `require.cache = {}`,
+/// `require.extensions = { … }` or `Object.defineProperty(require, 'name', …)`.
+/// The first two were dead stores overwritten on the following line, and the
+/// third set the descriptor a `function require(...)` declaration already has.
+/// Their arms in `cjs_scaffolding.rs` are kept — they stay correct for any
+/// template that does allocate there — they simply no longer fire.
+const EXPECTED_PREAMBLE_ALLOC_STMTS: usize = 2;
 
 /// The #7152 half of the canary. Red means `wrap.rs` and
 /// `perry-codegen/src/collectors/cjs_scaffolding.rs` disagree about what the
@@ -130,17 +136,16 @@ fn the_cjs_preamble_is_still_recognised_as_scaffolding_allocation() {
     // opaque count mismatch.
     for (needle, conjunct) in [
         (
-            "const __cjs_module = { exports: {} };",
-            "R1/R2 (the record and its `{ exports: {} }` literal)",
+            "        exports: {},",
+            "R1/R2 (the record literal's leading `exports: {}` field)",
         ),
         (
-            "var module = __cjs_module;",
-            "R4 (the alias that denies the record)",
+            "        require: undefined,",
+            "R1/R2 (the record literal's folded eleventh field)",
         ),
-        ("require.cache = {}", "the `require.cache` allocation"),
         (
-            "require.extensions = {",
-            "the `require.extensions` allocation",
+            "var module = __cjs_module;",
+            "R4 (the alias that denies the record)",
         ),
     ] {
         assert!(
diff --git a/crates/perry/src/commands/compile/cjs_wrap/tests.rs b/crates/perry/src/commands/compile/cjs_wrap/tests.rs
index 3317e32298..e64cdba370 100644
--- a/crates/perry/src/commands/compile/cjs_wrap/tests.rs
+++ b/crates/perry/src/commands/compile/cjs_wrap/tests.rs
@@ -462,8 +462,11 @@ fn wrap_module_and_exports_are_reassignable_vars() {
     // exports back from a stable, body-untouchable `__cjs_module`.
     let src = "exports.foo = 42;";
     let wrapped = wrap_commonjs(src, &PathBuf::from("/tmp/test.js"));
+    // The record is emitted as one folded object literal, so assert the
+    // `const` binding and its leading `exports` field rather than the old
+    // single-field spelling.
     assert!(
-        wrapped.contains("const __cjs_module = { exports: {} };"),
+        wrapped.contains("const __cjs_module = {") && wrapped.contains("exports: {},"),
         "expected stable __cjs_module, got:\n{}",
         wrapped
     );
@@ -1180,7 +1183,7 @@ fn wrap_flat_emits_class_module_exports_that_closes_over_top_level_const() {
         wrapped
     );
     // The CommonJS runtime shims still run at module scope.
-    assert!(wrapped.contains("const __cjs_module = { exports: {} };"));
+    assert!(wrapped.contains("const __cjs_module = {") && wrapped.contains("exports: {},"));
     assert!(wrapped.contains("const _cjs = __cjs_module.exports;"));
     let ast = perry_parser::parse_typescript(&wrapped, "stack-utils.js")
         .expect("flat class wrap must parse");
diff --git a/crates/perry/src/commands/compile/cjs_wrap/wrap.rs b/crates/perry/src/commands/compile/cjs_wrap/wrap.rs
index 40f74665a2..91840d4319 100644
--- a/crates/perry/src/commands/compile/cjs_wrap/wrap.rs
+++ b/crates/perry/src/commands/compile/cjs_wrap/wrap.rs
@@ -416,7 +416,7 @@ pub(in crate::commands::compile) fn wrap_commonjs_with_body_offset(
         .collect::<Vec<_>>()
         .join("\n");
     let imports = format!(
-        "import {{ createRequire as __perry_cjs_create_require }} from 'node:module';\n{imports}"
+        "import {{ createRequire as __perry_cjs_create_require, isBuiltin as __perry_cjs_is_builtin }} from 'node:module';\n{imports}"
     );
 
     // An UNRESOLVABLE adopted specifier (`require('@opentelemetry/api')`
@@ -494,7 +494,10 @@ pub(in crate::commands::compile) fn wrap_commonjs_with_body_offset(
                 // codegen does not initialize for native modules in CJS-wrapped
                 // modules). createRequire calls js_create_native_module_namespace
                 // under the hood — the same path Node.js uses for require("process").
-                format!("{link_child}return __perry_cjs_create_require({:?})(specifier);", source_path.to_string_lossy())
+                format!(
+                    "{link_child}return (globalThis.__perry_cjs_shared_require || (globalThis.__perry_cjs_shared_require = __perry_cjs_create_require({:?})))(specifier);",
+                    source_path.to_string_lossy()
+                )
             } else if needs_runtime_record {
                 runtime_require.clone().unwrap_or_else(|| format!("return {local};"))
             } else {
@@ -952,11 +955,6 @@ pub(in crate::commands::compile) fn wrap_commonjs_with_body_offset(
     // `require(specifier)` for one of those fell through to compiled-module
     // resolution and raised `MODULE_NOT_FOUND` instead of routing through
     // `createRequire`. Each entry emits both the bare and `node:` spelling.
-    let builtin_predicate_cases = perry_hir::NODE_BUILTIN_MODULES
-        .iter()
-        .map(|name| format!("case '{name}': case 'node:{name}':"))
-        .collect::<Vec<_>>()
-        .join("\n            ");
     let cjs_preamble = format!(
         r#"    // #3527: `module`/`exports` are reassignable `var`s (mirroring Node, where
     // they are wrapper-function parameters), so CJS bodies that do
@@ -967,20 +965,35 @@ pub(in crate::commands::compile) fn wrap_commonjs_with_body_offset(
     // a body reassigning its local `module` can't clobber it (Node holds the
     // real module ref the same way), so named/default-export resolution stays
     // correct regardless of what the body does to its `module` local.
-    const __cjs_module = {{ exports: {{}} }};
     // #6769: the Node `Module` record surface. Set before user code so a
     // recursive load of this module observes the same shape Node exposes.
-    __cjs_module.__perry_cjs_record = true;
-    __cjs_module.__perry_cjs_factory = {cjs_factory_value};
-    __cjs_module.id = {module_filename_literal};
-    __cjs_module.path = {module_dir_literal};
-    __cjs_module.filename = {module_filename_literal};
-    __cjs_module.loaded = false;
-    __cjs_module.children = [];
-    __cjs_module.parent = globalThis.__perry_cjs_pending_parent;
+    //
+    // ONE object literal, so the record is allocated with its final shape.
+    // As eleven sequential assignments it walked eleven shape transitions and
+    // eleven cold property stores — about 10k instructions each at module-init
+    // time — in every CommonJS module in the graph. Folding only some of the
+    // fields does not help: the trailing assignments keep transitioning the
+    // record and the win disappears (measured at -0.08%), so the whole surface
+    // folds or none of it does.
+    //
+    // `cjs_scaffolding.rs`'s `record_binding` matches this field list
+    // positionally. Adding or reordering a field drops the record back to being
+    // reported as a denied user candidate in the `Ptr<Shape>` report;
+    // `preamble_canary_tests` is what catches that.
+    const __cjs_module = {{
+        exports: {{}},
+        __perry_cjs_record: true,
+        __perry_cjs_factory: {cjs_factory_value},
+        id: {module_filename_literal},
+        path: {module_dir_literal},
+        filename: {module_filename_literal},
+        loaded: false,
+        children: [],
+        parent: globalThis.__perry_cjs_pending_parent,
+        paths: [{module_dir_literal} + '/node_modules'],
+        require: undefined,
+    }};
     globalThis.__perry_cjs_pending_parent = undefined;
-    __cjs_module.paths = [{module_dir_literal} + '/node_modules'];
-    __cjs_module.require = undefined;
     // Node populates `module.parent` before the body evaluates, so link it
     // here rather than at the tail's registry publication.
     __perry_link_path_module_parent(__cjs_module);
@@ -992,21 +1005,44 @@ pub(in crate::commands::compile) fn wrap_commonjs_with_body_offset(
     __perry_register_path_module_partial({module_path_literal}, __cjs_module);
     var module = __cjs_module;
     var exports = __cjs_module.exports;
-    const __perry_cjs_base_require = __perry_cjs_create_require({module_filename_literal});
+    // One `createRequire` instance for the whole program, not one per module.
+    // It is used only for `.cache`, `.extensions` and loading builtins, and all
+    // three are process-global in Node — nothing here is bound to this
+    // module's path. The call costs ~117k instructions, so paying it per module
+    // cost OpenCode's ~2,200 CJS modules a quarter of a billion instructions
+    // before any user code ran.
+    const __perry_cjs_base_require = (globalThis.__perry_cjs_shared_require
+        || (globalThis.__perry_cjs_shared_require = __perry_cjs_create_require({module_filename_literal})));
     __perry_cjs_base_require.cache[{module_filename_literal}] = __cjs_module;
     function __perry_cjs_require_error(kind, code, message) {{
         const err = kind === 'type' ? new TypeError(message) : new Error(message);
         err.code = code;
         return err;
     }}
+    // Accepts BOTH spellings of every builtin, which is what the switch this
+    // replaced did. `isBuiltin` alone is stricter than the switch: `sea`,
+    // `sqlite`, `test` and `test/reporters` are builtins only in their `node:`
+    // form, so bare `require("sqlite")` stopped resolving — and OpenCode's
+    // dependency graph contains exactly that. wrangler does
+    // `DatabaseSync = __require("sqlite").DatabaseSync` and then
+    // `new DatabaseSync(...)`, which became `new undefined()`.
+    //
+    // Whether Perry should accept the bare spellings at all is a real question,
+    // but it is a SEMANTIC one and does not belong in a performance change.
+    // Behaviour here is byte-for-byte what the switch did; the divergence is
+    // filed separately.
     function __perry_cjs_require_is_builtin(specifier) {{
-        switch (specifier) {{
-            {builtin_predicate_cases}
-                return true;
-            default:
-                return false;
-        }}
+        return __perry_cjs_is_builtin(specifier)
+            || __perry_cjs_is_builtin('node:' + specifier);
     }}
+    // `isBuiltin` comes from `node:module` instead of a switch emitted into
+    // EVERY CommonJS module. The switch carried both spellings of all 58
+    // builtin names, so each module interned ~120 string constants and
+    // initialised its own copy of the table before running a line of user
+    // code. It was also more permissive than Node: `sea`, `sqlite`, `test` and
+    // `test/reporters` are builtins only in their `node:` form, and the switch
+    // accepted the bare spelling too. The runtime predicate agrees with Node
+    // 26 on all 58 names in both spellings.
     function require(specifier) {{
         if (typeof specifier !== 'string') throw __perry_cjs_require_error('type', 'ERR_INVALID_ARG_TYPE', 'The "id" argument must be of type string.');
         if (specifier === '') throw __perry_cjs_require_error('type', 'ERR_INVALID_ARG_VALUE', 'The argument "id" must be a non-empty string.');
@@ -1016,7 +1052,7 @@ pub(in crate::commands::compile) fn wrap_commonjs_with_body_offset(
         // createRequire at runtime, which calls js_create_native_module_namespace
         // under the hood — the same path Node.js uses for require("process").
         if (__perry_cjs_require_is_builtin(specifier)) {{
-            return __perry_cjs_create_require({module_path_literal})(specifier);
+            return __perry_cjs_base_require(specifier);
         }}
         // Runtime `require(path)` of a module Perry AOT-compiled but that is
         // only reachable via a computed path. Next's webpack runtime uses both
@@ -1073,12 +1109,13 @@ pub(in crate::commands::compile) fn wrap_commonjs_with_body_offset(
         }}
         throw __perry_cjs_require_error('error', 'MODULE_NOT_FOUND', "Cannot find module '" + specifier + "'");
     }}
-    Object.defineProperty(require, 'name', {{
-        value: 'require',
-        writable: false,
-        enumerable: false,
-        configurable: true,
-    }});
+    // No `defineProperty(require, 'name', ...)`: a `function require(...)`
+    // declaration already carries exactly
+    // {{value:'require', writable:false, enumerable:false, configurable:true}},
+    // verified identical in Node 26 and Perry. The redundant install also gave
+    // the require object OBJ_FLAG_HAS_DESCRIPTORS, which pushed every later
+    // `require.resolve = ...` / `require.cache = ...` assignment onto the
+    // descriptor-bearing store path (#10287) in every CommonJS module.
     require.resolve = function resolve(specifier, options) {{
         if (typeof specifier !== 'string') throw __perry_cjs_require_error('type', 'ERR_INVALID_ARG_TYPE', 'The "request" argument must be of type string.');
 {require_resolve_cases}
@@ -1091,12 +1128,11 @@ pub(in crate::commands::compile) fn wrap_commonjs_with_body_offset(
         if (typeof specifier !== 'string') throw __perry_cjs_require_error('type', 'ERR_INVALID_ARG_TYPE', 'The "request" argument must be of type string.');
         return null;
     }};
-    require.cache = {{}};
-    require.extensions = {{
-        '.js': function(module, filename) {{}},
-        '.json': function(module, filename) {{}},
-        '.node': function(module, filename) {{}},
-    }};
+    // `cache` and `extensions` come straight from the createRequire instance:
+    // the placeholder object literals they used to be initialised with were
+    // overwritten on the very next line, so every CJS module allocated an
+    // object plus three closures and immediately dropped them. At OpenCode's
+    // ~2,200 CJS modules that is pure startup garbage.
     require.cache = __perry_cjs_base_require.cache;
     require.extensions = __perry_cjs_base_require.extensions;
     require.main = module;"#