{
 "id": "serum",
 "symbol": "SRM",
 "name": "Serum",
 "archetype": "DeFi / Protocol",
 "archetype_reason": "category match: 'decentralized finance (defi)'",
 "contract": {
  "chain": "ethereum",
  "address": "0x476c5e26a75bd202a9683ffd34359c0cc15be0ff"
 },
 "price": {
  "price_usd": 0.00665972,
  "ath_usd": 13.78,
  "ath_date": "2021-09-11T02:45:47.994Z",
  "market_cap": 2482625,
  "volume_24h": 2616.15,
  "price_chg_30d_pct": 11.90428,
  "price_chg_60d_pct": 23.45218,
  "price_chg_200d_pct": 33.95343,
  "coingecko_url": "https://www.coingecko.com/en/coins/serum"
 },
 "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 2,000\u00d7 from here. Historically ~3% of assets this deep reclaim ATH within 3y.",
  "drawdown_pct": 100.0,
  "reclaim_multiple": 2069.2,
  "base_rate_label": "down 95%+",
  "base_rate": 0.03,
  "base_rate_provisional": true,
  "break_even_note": "Break-even to ATH needs 2,000\u00d7. (Pass --entry for break-even to your cost basis.)"
 },
 "structure": {
  "alive_score": 37.8,
  "aliveness": "IMPAIRED",
  "aliveness_note": "Core systems impaired; consistent with a project in decline.",
  "mechanical_aliveness": "IMPAIRED",
  "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 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": 33.3,
   "detail": "0 commits/4wk, 27 contributors, last commit 765d ago \u2014 development is slowing.",
   "note": ""
  },
  {
   "factor": "conviction",
   "label": "Holder conviction & overhead supply",
   "weight": 0.18,
   "status": "measured",
   "score": 19.5,
   "detail": "holders -66/30d (-0.1%, Bin 3/10 vs 278 DeFi / Protocol peers), concentration HHI 0.737 (Bin 1/10 vs 123 DeFi / Protocol peers) \u2014 holders are leaving \u2014 conviction is draining. [DeFi / Protocol bins, provisional]",
   "note": ""
  },
  {
   "factor": "liquidity",
   "label": "Liquidity / exitability",
   "weight": 0.18,
   "status": "measured",
   "score": 31.0,
   "detail": "$2,616/24h (Bin 4/10 vs 358 DeFi / Protocol peers), 0.11% turnover (Bin 3/10) \u2014 liquidity is light for its class.",
   "note": ""
  },
  {
   "factor": "usage",
   "label": "Usage / demand",
   "weight": 0.2,
   "status": "measured",
   "score": 59.0,
   "detail": "36 active addresses/day (Bin 4/10 vs 113 DeFi / Protocol peers), 30d trend +193.1% (Bin 10/10 vs 72 DeFi / Protocol peers) \u2014 usage is holding. [DeFi / Protocol bins, provisional]",
   "note": ""
  },
  {
   "factor": "supply",
   "label": "Supply overhang & emissions",
   "weight": 0.12,
   "status": "measured",
   "score": 5.0,
   "detail": "4% of supply circulating (Bin 1/10 vs 360 DeFi / Protocol peers), FDV/MC 26.8x (Bin 1/10) \u2014 heavy unminted/uncapped supply hangs over every holder.",
   "note": ""
  },
  {
   "factor": "strength",
   "label": "Relative strength / narrative",
   "weight": 0.1,
   "status": "measured",
   "score": 90.0,
   "detail": "30d +12% (Bin 9/10 vs 360 DeFi / Protocol peers), 200d +34% (Bin 10/10) \u2014 outperforming its peer group.",
   "note": ""
  }
 ],
 "warnings": [
  "Base rate is PROVISIONAL (placeholder, not yet calibrated). Directional only."
 ]
}