{
 "id": "meter",
 "symbol": "MTRG",
 "name": "Meter Governance",
 "archetype": "L1 / Chain",
 "archetype_reason": "category match: 'smart contract platform'",
 "contract": {
  "chain": "meter",
  "address": "0x228ebbee999c6a7ad74a6130e81b12f9fe237ba3"
 },
 "price": {
  "price_usd": 0.01494746,
  "ath_usd": 16.47,
  "ath_date": "2021-11-02T19:05:15.636Z",
  "market_cap": 568615,
  "volume_24h": 5816.74,
  "price_chg_30d_pct": -32.16788,
  "price_chg_60d_pct": -23.87096,
  "price_chg_200d_pct": -55.84925,
  "coingecko_url": "https://www.coingecko.com/en/coins/meter"
 },
 "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 100% from ATH \u2014 reclaiming it needs 1,000\u00d7 from here. Historically ~3% of assets this deep reclaim ATH within 3y.",
  "drawdown_pct": 99.9,
  "reclaim_multiple": 1101.9,
  "base_rate_label": "down 95%+",
  "base_rate": 0.03,
  "base_rate_provisional": true,
  "break_even_note": "Break-even to ATH needs 1,000\u00d7. (Pass --entry for break-even to your cost basis.)"
 },
 "structure": {
  "alive_score": 36.7,
  "aliveness": "IMPAIRED",
  "aliveness_note": "Core systems impaired; consistent with a project in decline.",
  "mechanical_aliveness": "IMPAIRED",
  "band_capped": false,
  "confidence": "HIGH",
  "confidence_detail": "measuring 5 of 6 factors (82% of the weight that matters for a L1 / Chain asset)"
 },
 "bottom_line": "Down 100%, aliveness reads IMPAIRED. 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": 33.2,
   "detail": "0 commits/4wk, 0 contributors, last commit 15d ago \u2014 development is slowing.",
   "note": ""
  },
  {
   "factor": "conviction",
   "label": "Holder conviction & overhead supply",
   "weight": 0.2,
   "status": "measured",
   "score": 53.2,
   "detail": "holders +0/30d (+0.0%, Bin 3/10 vs 169 L1 / Chain peers), 92% of supply in profit (Bin 10/10 vs 38 L1 / Chain peers), 30d exchange netflow +0.00% of supply (Bin 5/10 vs 38 L1 / Chain peers), data lagged 31d (provider tier) \u2014 holder base is holding steady. [L1 / Chain bins, provisional]",
   "note": ""
  },
  {
   "factor": "liquidity",
   "label": "Liquidity / exitability",
   "weight": 0.18,
   "status": "measured",
   "score": 23.0,
   "detail": "$5,817/24h (Bin 2/10 vs 308 L1 / Chain peers), 1.02% turnover (Bin 4/10) \u2014 exit liquidity is thin for its class \u2014 selling moves the price.",
   "note": ""
  },
  {
   "factor": "usage",
   "label": "Usage / demand",
   "weight": 0.18,
   "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": "71% of supply circulating (Bin 6/10 vs 310 L1 / Chain peers), FDV/MC 1.4x (Bin 5/10), no max supply \u2014 meaningful dilution still to come \u2014 uncapped supply (perpetual emission risk, capped).",
   "note": ""
  },
  {
   "factor": "strength",
   "label": "Relative strength / narrative",
   "weight": 0.1,
   "status": "measured",
   "score": 20.0,
   "detail": "30d -32% (Bin 1/10 vs 310 L1 / Chain peers), 200d -56% (Bin 4/10) \u2014 lagging its peer group badly.",
   "note": ""
  }
 ],
 "warnings": [
  "Base rate is PROVISIONAL (placeholder, not yet calibrated). Directional only."
 ]
}