{
 "id": "puffer-finance",
 "symbol": "PUFFER",
 "name": "Puffer",
 "archetype": "L1 / Chain",
 "archetype_reason": "category match: 'smart contract platform'",
 "contract": {
  "chain": "ethereum",
  "address": "0x4d1c297d39c5c1277964d0e3f8aa901493664530"
 },
 "price": {
  "price_usd": 0.01356333,
  "ath_usd": 0.990824,
  "ath_date": "2024-12-07T09:42:30.591Z",
  "market_cap": 6562060,
  "volume_24h": 2459108,
  "price_chg_30d_pct": -2.43509,
  "price_chg_60d_pct": -53.82747,
  "price_chg_200d_pct": -76.55644,
  "coingecko_url": "https://www.coingecko.com/en/coins/puffer-finance"
 },
 "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 73.1\u00d7 from here. Historically ~3% of assets this deep reclaim ATH within 3y.",
  "drawdown_pct": 98.6,
  "reclaim_multiple": 73.1,
  "base_rate_label": "down 95%+",
  "base_rate": 0.03,
  "base_rate_provisional": true,
  "break_even_note": "Break-even to ATH needs 73.1\u00d7. (Pass --entry for break-even to your cost basis.)"
 },
 "structure": {
  "alive_score": 50.2,
  "aliveness": "WEAKENING",
  "aliveness_note": "Multiple systems weakening; the project is in decline.",
  "mechanical_aliveness": "WEAKENING",
  "band_capped": false,
  "confidence": "MEDIUM",
  "confidence_detail": "measuring 5 of 6 factors (78% of the weight that matters for a L1 / Chain 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": "pending",
   "score": null,
   "detail": "",
   "note": "dev activity (wired); treasury runway, fees/revenue (v1)"
  },
  {
   "factor": "conviction",
   "label": "Holder conviction & overhead supply",
   "weight": 0.2,
   "status": "measured",
   "score": 53.2,
   "detail": "holders +75/30d (+0.3%, Bin 5/10 vs 169 L1 / Chain peers), concentration HHI 0.072 (Bin 8/10 vs 68 L1 / Chain peers) \u2014 holder base is holding steady. [L1 / Chain bins, provisional]",
   "note": ""
  },
  {
   "factor": "liquidity",
   "label": "Liquidity / exitability",
   "weight": 0.18,
   "status": "measured",
   "score": 77.0,
   "detail": "$2,459,108/24h (Bin 7/10 vs 308 L1 / Chain peers), 37.47% turnover (Bin 10/10) \u2014 tradeable.",
   "note": ""
  },
  {
   "factor": "usage",
   "label": "Usage / demand",
   "weight": 0.18,
   "status": "measured",
   "score": 39.0,
   "detail": "73 active addresses/day (Bin 6/10 vs 91 L1 / Chain peers), 30d trend -39.2% (Bin 2/10 vs 53 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": 30.0,
   "detail": "48% of supply circulating (Bin 4/10 vs 310 L1 / Chain peers), FDV/MC 2.1x (Bin 3/10) \u2014 meaningful dilution still to come.",
   "note": ""
  },
  {
   "factor": "strength",
   "label": "Relative strength / narrative",
   "weight": 0.1,
   "status": "measured",
   "score": 40.0,
   "detail": "30d -2% (Bin 7/10 vs 310 L1 / Chain peers), 200d -77% (Bin 2/10) \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 (2026-04-18) \u2014 not reflected in the score; check before acting."
 ]
}