{
 "id": "swarm-markets",
 "symbol": "SMT",
 "name": "Swarm Markets",
 "archetype": "RWA",
 "archetype_reason": "category match: 'real world assets (rwa)'",
 "contract": {
  "chain": "ethereum",
  "address": "0xb17548c7b510427baac4e267bea62e800b247173"
 },
 "price": {
  "price_usd": 0.02260026,
  "ath_usd": 1.32,
  "ath_date": "2024-03-26T10:14:47.702Z",
  "market_cap": 2090456,
  "volume_24h": 55744,
  "price_chg_30d_pct": 39.05944,
  "price_chg_60d_pct": -41.81256,
  "price_chg_200d_pct": -51.65067,
  "coingecko_url": "https://www.coingecko.com/en/coins/swarm-markets"
 },
 "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 98% from ATH \u2014 reclaiming it needs 58.4\u00d7 from here. Historically ~3% of assets this deep reclaim ATH within 3y.",
  "drawdown_pct": 98.3,
  "reclaim_multiple": 58.4,
  "base_rate_label": "down 95%+",
  "base_rate": 0.03,
  "base_rate_provisional": true,
  "break_even_note": "Break-even to ATH needs 58.4\u00d7. (Pass --entry for break-even to your cost basis.)"
 },
 "structure": {
  "alive_score": 36.0,
  "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 RWA asset)"
 },
 "bottom_line": "Down 98%, aliveness reads IMPAIRED. Being functional is not recovery \u2014 the reclaim base rate is ~3%.",
 "factors": [
  {
   "factor": "solvency",
   "label": "Structural solvency / liveness",
   "weight": 0.25,
   "status": "measured",
   "score": 30.2,
   "detail": "0 commits/4wk, 0 contributors, last commit 38d ago \u2014 development is slowing.",
   "note": ""
  },
  {
   "factor": "conviction",
   "label": "Holder conviction & overhead supply",
   "weight": 0.15,
   "status": "measured",
   "score": 35.0,
   "detail": "holders -317/30d (-3.6%, Bin 1/10 vs 180 RWA peers), 46% of supply in profit (Bin 9/10 vs 205 universe peers), 30d exchange netflow +1.38% of supply (Bin 2/10 vs 189 universe peers), data lagged 31d (provider tier) \u2014 holder base is holding steady. [RWA/universe bins, provisional]",
   "note": ""
  },
  {
   "factor": "liquidity",
   "label": "Liquidity / exitability",
   "weight": 0.18,
   "status": "measured",
   "score": 33.0,
   "detail": "$55,744/24h (Bin 3/10 vs 215 RWA peers), 2.67% turnover (Bin 5/10) \u2014 liquidity is light for its class.",
   "note": ""
  },
  {
   "factor": "usage",
   "label": "Usage / demand",
   "weight": 0.12,
   "status": "measured",
   "score": 65.0,
   "detail": "68 active addresses/day (Bin 7/10 vs 37 RWA peers), data lagged 31d (provider tier) \u2014 usage is strong for its peer group. [RWA bins, provisional]",
   "note": ""
  },
  {
   "factor": "supply",
   "label": "Supply overhang & emissions",
   "weight": 0.2,
   "status": "measured",
   "score": 20.0,
   "detail": "37% of supply circulating (Bin 2/10 vs 265 RWA peers), FDV/MC 1.6x (Bin 3/10) \u2014 heavy unminted/uncapped supply hangs over every holder.",
   "note": ""
  },
  {
   "factor": "strength",
   "label": "Relative strength / narrative",
   "weight": 0.1,
   "status": "measured",
   "score": 55.0,
   "detail": "30d +39% (Bin 10/10 vs 265 RWA peers), 200d -52% (Bin 2/10) \u2014 middle of its peer pack.",
   "note": ""
  }
 ],
 "warnings": [
  "Base rate is PROVISIONAL (placeholder, not yet calibrated). Directional only."
 ]
}