{
 "id": "instadapp",
 "symbol": "FLUID",
 "name": "Fluid",
 "archetype": "DeFi / Protocol",
 "archetype_reason": "category match: 'decentralized finance (defi)'",
 "contract": {
  "chain": "ethereum",
  "address": "0x6f40d4a6237c257fff2db00fa0510deeecd303eb"
 },
 "price": {
  "price_usd": 1.014,
  "ath_usd": 24.4,
  "ath_date": "2021-06-16T20:02:32.097Z",
  "market_cap": 79809898,
  "volume_24h": 2281414,
  "price_chg_30d_pct": -6.00975,
  "price_chg_60d_pct": -40.10818,
  "price_chg_200d_pct": -59.95463,
  "coingecko_url": "https://www.coingecko.com/en/coins/instadapp"
 },
 "provenance": {
  "batch_date": "2026-07-14",
  "bagcheck_version": "0.17.1",
  "snapshot_id": "2026-07-14 v16",
  "label": "scored monthly \u00b7 batch of 2026-07-14"
 },
 "refused": false,
 "reclaim": {
  "severity": "SEVERE",
  "line": "Down 96% from ATH \u2014 reclaiming it needs 24.1\u00d7 from here. Historically ~3% of assets this deep reclaim ATH within 3y.",
  "drawdown_pct": 95.8,
  "reclaim_multiple": 24.1,
  "base_rate_label": "down 95%+",
  "base_rate": 0.03,
  "base_rate_provisional": true,
  "break_even_note": "Break-even to ATH needs 24.1\u00d7. (Pass --entry for break-even to your cost basis.)"
 },
 "structure": {
  "alive_score": 54.7,
  "aliveness": "WEAKENING",
  "aliveness_note": "Multiple systems weakening; the project is in decline.",
  "mechanical_aliveness": "WEAKENING",
  "band_capped": false,
  "confidence": "HIGH",
  "confidence_detail": "measuring 6 of 6 factors (100% of the weight that matters for a DeFi / Protocol asset)"
 },
 "bottom_line": "Down 96%, aliveness reads WEAKENING. Being functional is not recovery \u2014 the reclaim base rate is ~3%.",
 "factors": [
  {
   "factor": "solvency",
   "label": "Structural solvency / liveness",
   "weight": 0.22,
   "status": "measured",
   "score": 33.3,
   "detail": "0 commits/4wk, 0 contributors, last commit 1d ago \u2014 development is slowing.",
   "note": ""
  },
  {
   "factor": "conviction",
   "label": "Holder conviction & overhead supply",
   "weight": 0.18,
   "status": "measured",
   "score": 82.3,
   "detail": "holders +261/30d (+2.3%, Bin 9/10 vs 278 DeFi / Protocol peers), concentration HHI 0.066 (Bin 8/10 vs 123 DeFi / Protocol peers) \u2014 holders are accumulating against the drawdown. [DeFi / Protocol bins, provisional]",
   "note": ""
  },
  {
   "factor": "liquidity",
   "label": "Liquidity / exitability",
   "weight": 0.18,
   "status": "measured",
   "score": 67.0,
   "detail": "$2,281,414/24h (Bin 8/10 vs 358 DeFi / Protocol peers), 2.86% turnover (Bin 6/10) \u2014 tradeable.",
   "note": ""
  },
  {
   "factor": "usage",
   "label": "Usage / demand",
   "weight": 0.2,
   "status": "measured",
   "score": 49.0,
   "detail": "116 active addresses/day (Bin 7/10 vs 113 DeFi / Protocol peers), 30d trend -24.1% (Bin 3/10 vs 72 DeFi / Protocol peers), data lagged 31d (provider tier) \u2014 usage is holding. [DeFi / Protocol bins, provisional]",
   "note": ""
  },
  {
   "factor": "supply",
   "label": "Supply overhang & emissions",
   "weight": 0.12,
   "status": "measured",
   "score": 60.0,
   "detail": "79% of supply circulating (Bin 7/10 vs 360 DeFi / Protocol peers), FDV/MC 1.3x (Bin 6/10) \u2014 limited dilution risk.",
   "note": ""
  },
  {
   "factor": "strength",
   "label": "Relative strength / narrative",
   "weight": 0.1,
   "status": "measured",
   "score": 35.0,
   "detail": "30d -6% (Bin 5/10 vs 360 DeFi / Protocol peers), 200d -60% (Bin 3/10) \u2014 middle of its peer pack.",
   "note": ""
  }
 ],
 "warnings": [
  "Base rate is PROVISIONAL (placeholder, not yet calibrated). Directional only."
 ]
}