{
 "id": "marinade",
 "symbol": "MNDE",
 "name": "Marinade",
 "archetype": "DeFi / Protocol",
 "archetype_reason": "category match: 'decentralized finance (defi)'",
 "contract": {
  "chain": "solana",
  "address": "MNDEFzGvMt87ueuHvVU9VcTqsAP5b3fTGPsHuuPA5ey"
 },
 "price": {
  "price_usd": 0.01889185,
  "ath_usd": 1.64,
  "ath_date": "2021-10-09T00:00:00.000Z",
  "market_cap": 10322443,
  "volume_24h": 4600.53,
  "price_chg_30d_pct": 1.05777,
  "price_chg_60d_pct": -10.21941,
  "price_chg_200d_pct": -55.10792,
  "coingecko_url": "https://www.coingecko.com/en/coins/marinade"
 },
 "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": "NEAR-TOTAL LOSS",
  "line": "Down 99% from ATH \u2014 reclaiming it needs 86.8\u00d7 from here. Historically ~3% of assets this deep reclaim ATH within 3y.",
  "drawdown_pct": 98.8,
  "reclaim_multiple": 86.8,
  "base_rate_label": "down 95%+",
  "base_rate": 0.03,
  "base_rate_provisional": true,
  "break_even_note": "Break-even to ATH needs 86.8\u00d7. (Pass --entry for break-even to your cost basis.)"
 },
 "structure": {
  "alive_score": 41.2,
  "aliveness": "WEAKENING",
  "aliveness_note": "Multiple systems weakening; the project is in decline.",
  "mechanical_aliveness": "WEAKENING",
  "band_capped": false,
  "confidence": "HIGH",
  "confidence_detail": "measuring 5 of 6 factors (80% of the weight that matters for a DeFi / Protocol asset)"
 },
 "bottom_line": "Down 99%, 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 0d ago \u2014 development is slowing.",
   "note": ""
  },
  {
   "factor": "conviction",
   "label": "Holder conviction & overhead supply",
   "weight": 0.18,
   "status": "measured",
   "score": 50.5,
   "detail": "holders +9/30d (+0.0%, Bin 5/10 vs 278 DeFi / Protocol peers), concentration HHI 0.087 (Bin 7/10 vs 123 DeFi / Protocol peers) \u2014 holder base is holding steady. [DeFi / Protocol bins, provisional]",
   "note": ""
  },
  {
   "factor": "liquidity",
   "label": "Liquidity / exitability",
   "weight": 0.18,
   "status": "measured",
   "score": 31.0,
   "detail": "$4,601/24h (Bin 4/10 vs 358 DeFi / Protocol peers), 0.04% turnover (Bin 3/10) \u2014 liquidity is light for its class.",
   "note": ""
  },
  {
   "factor": "usage",
   "label": "Usage / demand",
   "weight": 0.2,
   "status": "pending",
   "score": null,
   "detail": "",
   "note": "daily active addresses + 30d trend (wired: Coin Metrics natives/majors, Santiment tokens); transfer-activity proxy (wired: Tron/Blockscout explorers, labeled tier); derivatives OI & funding (v1); for AI/DePIN: network resource demand \u2014 GPU-hours / storage deals / subnet emissions share (v1)"
  },
  {
   "factor": "supply",
   "label": "Supply overhang & emissions",
   "weight": 0.12,
   "status": "measured",
   "score": 50.0,
   "detail": "55% of supply circulating (Bin 5/10 vs 360 DeFi / Protocol peers), FDV/MC 1.3x (Bin 6/10) \u2014 meaningful dilution still to come.",
   "note": ""
  },
  {
   "factor": "strength",
   "label": "Relative strength / narrative",
   "weight": 0.1,
   "status": "measured",
   "score": 50.0,
   "detail": "30d +1% (Bin 7/10 vs 360 DeFi / Protocol peers), 200d -55% (Bin 4/10) \u2014 middle of its peer pack.",
   "note": ""
  }
 ],
 "warnings": [
  "Base rate is PROVISIONAL (placeholder, not yet calibrated). Directional only.",
  "Recent risk alert signal on the record (2026-04-01) \u2014 not reflected in the score; check before acting."
 ]
}