{
 "id": "polyswarm",
 "symbol": "NCT",
 "name": "PolySwarm",
 "archetype": "L1 / Chain",
 "archetype_reason": "heuristic: active development, no category tag",
 "contract": {
  "chain": "ethereum",
  "address": "0x9e46a38f5daabe8683e10793b06749eef7d733d1"
 },
 "price": {
  "price_usd": 0.00506187,
  "ath_usd": 0.171845,
  "ath_date": "2022-01-14T00:19:52.902Z",
  "market_cap": 9544162,
  "volume_24h": 95591,
  "price_chg_30d_pct": -14.33342,
  "price_chg_60d_pct": -35.60616,
  "price_chg_200d_pct": -49.73282,
  "coingecko_url": "https://www.coingecko.com/en/coins/polyswarm"
 },
 "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 97% from ATH \u2014 reclaiming it needs 33.9\u00d7 from here. Historically ~3% of assets this deep reclaim ATH within 3y.",
  "drawdown_pct": 97.1,
  "reclaim_multiple": 33.9,
  "base_rate_label": "down 95%+",
  "base_rate": 0.03,
  "base_rate_provisional": true,
  "break_even_note": "Break-even to ATH needs 33.9\u00d7. (Pass --entry for break-even to your cost basis.)"
 },
 "structure": {
  "alive_score": 60.0,
  "aliveness": "WEAKENING",
  "aliveness_note": "Multiple systems weakening; the project is in decline.",
  "mechanical_aliveness": "STRAINED",
  "band_capped": true,
  "confidence": "HIGH",
  "confidence_detail": "measuring 6 of 6 factors (100% of the weight that matters for a L1 / Chain asset)"
 },
 "bottom_line": "Down 97%, 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": 100.0,
   "detail": "43 commits/4wk, 14 contributors, last commit 2d ago \u2014 actively developed.",
   "note": ""
  },
  {
   "factor": "conviction",
   "label": "Holder conviction & overhead supply",
   "weight": 0.2,
   "status": "measured",
   "score": 49.7,
   "detail": "holders +50/30d (+0.6%, Bin 6/10 vs 169 L1 / Chain peers), 16% of supply in profit (Bin 7/10 vs 38 L1 / Chain peers), 30d exchange netflow +2.90% of supply (Bin 1/10 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": 35.0,
   "detail": "$95,591/24h (Bin 4/10 vs 308 L1 / Chain peers), 1.00% turnover (Bin 4/10) \u2014 liquidity is light for its class.",
   "note": ""
  },
  {
   "factor": "usage",
   "label": "Usage / demand",
   "weight": 0.18,
   "status": "measured",
   "score": 35.0,
   "detail": "27 active addresses/day (Bin 4/10 vs 91 L1 / Chain peers), data lagged 31d (provider tier) \u2014 usage is holding. [L1 / Chain bins, provisional]",
   "note": ""
  },
  {
   "factor": "supply",
   "label": "Supply overhang & emissions",
   "weight": 0.12,
   "status": "measured",
   "score": 100.0,
   "detail": "Supply fully circulating and capped \u2014 no emission overhang.",
   "note": ""
  },
  {
   "factor": "strength",
   "label": "Relative strength / narrative",
   "weight": 0.1,
   "status": "measured",
   "score": 35.0,
   "detail": "30d -14% (Bin 3/10 vs 310 L1 / Chain peers), 200d -50% (Bin 5/10) \u2014 middle of its peer pack.",
   "note": ""
  }
 ],
 "warnings": [
  "Base rate is PROVISIONAL (placeholder, not yet calibrated). Directional only."
 ]
}