{"summary":{"version":"summary-v1","lines":[{"dimension":"build","label":"Build","tag":"UNKNOWN","text":"Builder source held, not counted: HEY holds a repository, changelog or feed only as context — nothing yet ties it to the project — so no count here is a measured zero.","evidence":[],"basis":"not_held","detailUrl":"https://heyresearch.xyz/api/projects/arcus-perps/timeline","freshness":"unknown","reason":"no_builder_source","answer":"Builder source held, not counted"},{"dimension":"usage","label":"Product usage","tag":"FACT","text":"No contract is recorded for this project, so there is no on-chain usage to count.","evidence":[],"basis":"coverage_state","detailUrl":"https://heyresearch.xyz/api/projects/arcus-perps/usage","freshness":"not_applicable","reason":"no_contract"},{"dimension":"market","label":"Market","tag":"FACT","text":"No token recorded: this is a project, not a token.","evidence":[],"basis":"registry_record","detailUrl":"https://heyresearch.xyz/api/projects/arcus-perps/market","freshness":"not_applicable","reason":"no_token"},{"dimension":"fundamentals","label":"Fundamentals","tag":"FACT","text":"Arcus Perps: TVL $61.4M · fees 24h $67.2K · revenue 24h $58.7K (DefiLlama, 2026-10-18). Registry context, not a measure of building.","evidence":[],"basis":"canonical_read","detailUrl":"https://heyresearch.xyz/api/projects/arcus-perps/snapshot","observedAt":"2026-10-18T00:00:00.000Z","freshness":"fresh"},{"dimension":"latestChange","label":"Latest change","tag":"FACT","text":"12 days ago: Links the official site declares changed: 0 added, 1 removed. Removed feed link: docs.arcus.xyz/sitemap.xml.","evidence":[{"id":"sourcechange:45283a39-f257-41b3-87bb-04457883d5b6","label":"Official site","url":"https://docs.arcus.xyz/concepts/exchange-architecture","receiptUrl":"https://heyresearch.xyz/api/evidence/sourcechange%3A45283a39-f257-41b3-87bb-04457883d5b6"}],"basis":"evidence_record","detailUrl":"https://heyresearch.xyz/api/changes?project=arcus-perps","observedAt":"2026-10-06T11:56:20.501Z","freshness":"fresh"},{"dimension":"unknown","label":"Not yet known","tag":"UNKNOWN","text":"5 gaps: Building activity (no source), Repositories (no source), Releases (no source), +2 more. No repository, changelog or feed to read.","evidence":[],"basis":"coverage_state","detailUrl":"https://heyresearch.xyz/api/projects/arcus-perps/coverage","freshness":"unknown","reason":"no_builder_source"}],"computedAt":"2026-10-18T07:38:41.794Z"},"identity":{"slug":"arcus-perps","name":"Arcus Perps","projectKind":"OTHER","researchLevel":"RESEARCHED","catalogStatus":"QUALIFIED","primaryNarrative":{"slug":"perps","name":"Perps"},"websiteUrl":"https://arcus.xyz/","firstRecordedByHeyAt":"2026-09-02T14:24:25.060Z","externalListedAt":"2026-07-10T17:10:27.000Z","externalListedSource":"defillama","url":"https://heyresearch.xyz/project/arcus-perps"},"build":{"activityStatus":"UNKNOWN","activityMeasured":false,"stillBuilding":false,"stillBuildingState":"NOT_MEASURED","stillBuildingWithheld":"no_token","discoveryGapWithheld":"no_token","underTheRadar":{"state":"NOT_MEASURED","reason":"no_token","explainUrl":"https://heyresearch.xyz/api/projects/arcus-perps/explain?fact=discovery_gap"},"velocity":{"state":"NOT_MEASURED","current":null,"previous":null,"windowDays":30},"cadence":{"state":"INSUFFICIENT_RELEASES"},"hasBuilderSource":false},"protocolEconomics":{"protocols":[{"protocol":"arcus-perps","protocolName":"Arcus Perps","category":"Derivatives","tvlUsd":61366982.132129,"tvlDay":"2026-10-18","matchedBy":"listing","fees24h":{"state":"MEASURED","valueUsd":67186},"revenue24h":{"state":"MEASURED","valueUsd":58737},"dexVolume24h":{"state":"NOT_TRACKED"},"economicsDay":"2026-10-18","auditLinks":[],"methodologyUrl":"https://github.com/DefiLlama/DefiLlama-Adapters/blob/main/registries/sumTokens.js","parentProtocol":"arcus"}],"source":"defillama","contextOnly":true},"developerFootprint":{"repositories":{"state":"NO_SOURCE","reason":"no_repository","official":0,"metadataRead":0},"productionDeployment":{"state":"NOT_APPLICABLE"},"packages":{"state":"NO_SOURCE","reason":"no_repository"},"advisories":{"state":"NOT_APPLICABLE","reason":"no_accepted_package","subject":"PUBLISHED_PACKAGE"},"contextOnly":true,"coverageUrl":"https://heyresearch.xyz/api/projects/arcus-perps/coverage"},"usage":{"dimension":"usage","state":"NOT_APPLICABLE","reason":"no_contract","source":"decoded_calls","window":{"from":"2026-10-11","to":"2026-10-17","days":7},"watchedContracts":0,"topMethods":[],"names":"WITHHELD","methodEvents":{"firstObserved":0,"resumed":0,"ids":[]},"contextOnly":true,"url":"https://heyresearch.xyz/api/projects/arcus-perps/usage"},"security":{"audits":{"state":"NONE_FOUND","readFrom":["official_site","defillama"],"readAt":"2026-10-18T00:07:29.929Z"},"bugBounty":{"state":"NONE_FOUND","readFrom":["official_site"],"readAt":"2026-10-17T06:28:58.305Z"},"securityTxt":{"state":"NOT_READ","reason":"site_files_not_read_yet"},"advisories":{"state":"NOT_APPLICABLE","reason":"no_accepted_package"},"repositoryChecks":{"state":"NOT_APPLICABLE","reason":"no_official_repository"},"incidents":{"state":"NOT_READ","reason":"no_incident_source_read"},"linksOmitted":0,"meaning":"An audit shows an audit took place; it is not a guarantee of safety.","contextOnly":true},"peerContext":{"rulesVersion":"peers-v1","state":"NO_COHORT","reason":"kind_not_classified","computedAt":"2026-10-18T02:04:52.123Z","freshness":{"state":"CURRENT","asOf":"2026-10-18T02:04:52.123Z","staleAfterHours":36},"cohort":null,"minimums":{"median":8,"percentile":20},"dimensions":[],"methodology":"https://heyresearch.xyz/methodology#peers"},"contracts":{"url":"https://heyresearch.xyz/api/projects/arcus-perps/contracts"},"verification":{"ownerVerified":false,"submitted":false,"sources":{"total":5,"own":4,"verified":0,"contextOnly":1}},"locks":{"coverage":{"state":"NOT_APPLICABLE","reason":"no_token"}},"integrity":{"state":"NOT_APPLICABLE","reason":"no_token"},"latestChanges":{"available":true,"items":[{"id":"sourcechange:45283a39-f257-41b3-87bb-04457883d5b6","revision":2,"op":"upsert","type":"research.source_changed","domain":"research","occurredAt":null,"precision":"OBSERVED","detectedAt":"2026-10-06T11:56:20.501Z","recordedAt":"2026-10-17T06:55:03.554Z","summary":"Links the official site declares changed: 0 added, 1 removed. Removed feed link: docs.arcus.xyz/sitemap.xml","evidence":[{"id":"sourcechange:45283a39-f257-41b3-87bb-04457883d5b6","label":"Official site","url":"https://docs.arcus.xyz/concepts/exchange-architecture"}],"source":"official_site"},{"id":"sourcechange:bcbab0a0-ef65-4109-b265-7e062f4d4196","revision":2,"op":"upsert","type":"research.source_changed","domain":"research","occurredAt":null,"precision":"OBSERVED","detectedAt":"2026-10-06T11:46:05.336Z","recordedAt":"2026-10-17T06:55:03.554Z","summary":"Links the official site declares changed: 0 added, 1 removed. Removed feed link: docs.arcus.xyz/sitemap.xml","evidence":[{"id":"sourcechange:bcbab0a0-ef65-4109-b265-7e062f4d4196","label":"Official site","url":"https://docs.arcus.xyz/"}],"source":"official_site"},{"id":"narrative:1f5b838c-0ce1-4ecb-b03b-fcf81eba1f6f:stockfi","revision":2,"op":"upsert","type":"research.narrative_assigned","domain":"research","occurredAt":null,"precision":"OBSERVED","detectedAt":"2026-09-03T10:57:24.481Z","recordedAt":"2026-09-30T10:15:03.972Z","summary":"Narrative: StockFi","evidence":[{"id":"narrative:1f5b838c-0ce1-4ecb-b03b-fcf81eba1f6f:stockfi","label":"Narrative","url":"/narrative/stockfi"}],"source":"hey_rules"},{"id":"narrative:1f5b838c-0ce1-4ecb-b03b-fcf81eba1f6f:perps","revision":2,"op":"upsert","type":"research.narrative_assigned","domain":"research","occurredAt":null,"precision":"OBSERVED","detectedAt":"2026-09-03T10:57:24.481Z","recordedAt":"2026-09-30T10:15:03.972Z","summary":"Primary narrative: Perps","evidence":[{"id":"narrative:1f5b838c-0ce1-4ecb-b03b-fcf81eba1f6f:perps","label":"Narrative","url":"/narrative/perps"}],"source":"hey_rules"}],"url":"https://heyresearch.xyz/api/changes?project=arcus-perps"},"freshness":[{"source":"code","label":"Code","state":"unknown","staleAfterHours":108},{"source":"score","label":"Scores","state":"fresh","observedAt":"2026-10-17T23:03:07.961Z","staleAfterHours":24}],"coverage":{"identity":{"state":"MEASURED","since":"2026-09-02T14:24:25.060Z","asOf":"2026-09-02T14:24:20.834Z","reason":"research_level_researched","detailUrl":"https://heyresearch.xyz/api/projects/arcus-perps"},"builderEvidence":{"state":"NO_SOURCE","reason":"no_builder_source"},"repositories":{"state":"NO_SOURCE","reason":"no_repository"},"releases":{"state":"NO_SOURCE","reason":"no_builder_source"},"marketCurrent":{"state":"NOT_APPLICABLE","reason":"no_token"},"marketHistory":{"state":"NOT_APPLICABLE","reason":"no_token"},"contractDeployment":{"state":"NOT_APPLICABLE","reason":"no_token"},"contractActivity":{"state":"NOT_APPLICABLE","reason":"no_token"},"contractSource":{"state":"NOT_APPLICABLE","reason":"no_token"},"contractInterface":{"state":"NOT_APPLICABLE","reason":"no_token"},"distribution":{"state":"NOT_APPLICABLE","reason":"no_token"},"locks":{"state":"NOT_APPLICABLE","reason":"no_token"},"marketIntegrity":{"state":"NOT_APPLICABLE","reason":"no_token"},"protocolEconomics":{"state":"MEASURED","since":"2026-09-26T00:00:00.000Z","asOf":"2026-10-18T00:00:00.000Z","reason":"registry_context_only","detailUrl":"https://heyresearch.xyz/api/projects/arcus-perps/snapshot"},"timeline":{"state":"MEASURED","since":"2026-09-02T14:24:25.060Z","reason":"complete_default_window","detailUrl":"https://heyresearch.xyz/api/projects/arcus-perps/timeline"},"officialDocs":{"state":"MEASURED","asOf":"2026-10-17T06:28:58.305Z","reason":"official_docs","detailUrl":"https://heyresearch.xyz/api/projects/arcus-perps"},"apiDocs":{"state":"NOT_ENOUGH_YET","reason":"site_files_not_read_yet"},"sourceChanges":{"state":"MEASURED","since":"2026-09-29T20:54:47.908Z","asOf":"2026-10-06T11:56:20.501Z","reason":"changes_since_first_read"},"gitHost":{"state":"NOT_APPLICABLE","reason":"no_repository"},"package":{"state":"NO_SOURCE","reason":"no_repository"},"securityContext":{"state":"NOT_APPLICABLE","reason":"no_accepted_package"}},"evidenceSummary":{"sources":{"total":5,"own":4,"verified":0,"contextOnly":1},"meaningfulEvents30d":null,"explainUrl":"https://heyresearch.xyz/api/projects/arcus-perps/explain"},"links":{"page":"https://heyresearch.xyz/project/arcus-perps","detail":"https://heyresearch.xyz/api/projects/arcus-perps","timeline":"https://heyresearch.xyz/api/projects/arcus-perps/timeline","intelligence":"https://heyresearch.xyz/api/projects/arcus-perps/intelligence","changes":"https://heyresearch.xyz/api/changes?project=arcus-perps","coverage":"https://heyresearch.xyz/api/projects/arcus-perps/coverage","explain":"https://heyresearch.xyz/api/projects/arcus-perps/explain","contracts":"https://heyresearch.xyz/api/projects/arcus-perps/contracts","usage":"https://heyresearch.xyz/api/projects/arcus-perps/usage","relationships":"https://heyresearch.xyz/api/projects/arcus-perps/relationships"},"asOf":"2026-10-18T07:38:41.794Z","scoringVersion":"hbm-v31","disclaimer":"Public, source-backed activity HEY recorded. Still Building means verified activity through a tracked market drawdown — it is not a prediction, not a ranking by price, and not investment advice. Few projects meet Still Building or Under the Radar at any time; both are strict by design, and list responses carry the counts."}