{"summary":{"version":"summary-v1","lines":[{"dimension":"build","label":"Build","tag":"DERIVED","text":"Shipping: 2 counted ships in 30 days; latest ship yesterday.","evidence":[{"id":"ship:21ee6548-2a7f-42ae-b3a2-7d292e262629","label":"GitHub","url":"https://github.com/borromarkets/borro-live","receiptUrl":"https://heyresearch.xyz/api/evidence/ship%3A21ee6548-2a7f-42ae-b3a2-7d292e262629"}],"basis":"evidence_record","detailUrl":"https://heyresearch.xyz/api/projects/borro-markets/timeline","observedAt":"2026-11-12T16:42:56.000Z","freshness":"fresh","answer":"Shipped this week","significance":{"text":"First week of code changes after 26 quiet days.","about":"ship:21ee6548-2a7f-42ae-b3a2-7d292e262629","receiptUrl":"https://heyresearch.xyz/api/evidence/ship%3A21ee6548-2a7f-42ae-b3a2-7d292e262629"}},{"dimension":"usage","label":"Product usage","tag":"FACT","text":"1 of 1 watched contract active · 12,473 calls in 7 days — all token transfers and approvals (ERC-20), which trading alone produces; none reached another function HEY watches.","evidence":[],"basis":"usage_reading","detailUrl":"https://heyresearch.xyz/api/projects/borro-markets/usage","observedAt":"2026-11-13T01:49:42.993Z","freshness":"fresh"},{"dimension":"market","label":"Market","tag":"FACT","text":"Active market · FDV (fully diluted) $289K · current liquidity $54.6K · reading under an hour old (DEX Screener).","evidence":[],"basis":"market_reading","detailUrl":"https://heyresearch.xyz/api/projects/borro-markets/market","observedAt":"2026-11-13T03:00:11.069Z","freshness":"fresh"},{"dimension":"contract","label":"Contracts","tag":"FACT","text":"1 contract on record for code changes, 1 with published source code; no implementation or interface change recorded.","evidence":[],"basis":"registry_record","detailUrl":"https://heyresearch.xyz/api/projects/borro-markets/contracts","observedAt":"2026-11-08T01:14:29.099Z","freshness":"fresh"},{"dimension":"fundamentals","label":"Fundamentals","tag":"FACT","text":"Borro: TVL $45.1K · fees 24h not tracked · revenue 24h not tracked (DefiLlama, 2026-11-13). Registry context, not a measure of building.","evidence":[],"basis":"canonical_read","detailUrl":"https://heyresearch.xyz/api/projects/borro-markets/snapshot","observedAt":"2026-11-13T00:00:00.000Z","freshness":"fresh"},{"dimension":"latestChange","label":"Latest change","tag":"FACT","text":"Yesterday: Code changes this week (since Mon 9 Nov).","evidence":[{"id":"ship:21ee6548-2a7f-42ae-b3a2-7d292e262629","label":"GitHub","url":"https://github.com/borromarkets/borro-live","receiptUrl":"https://heyresearch.xyz/api/evidence/ship%3A21ee6548-2a7f-42ae-b3a2-7d292e262629"}],"basis":"evidence_record","detailUrl":"https://heyresearch.xyz/api/changes?project=borro-markets","observedAt":"2026-11-12T16:42:56.000Z","freshness":"fresh","change":{"version":"change-explain-v1","eventId":"ship:21ee6548-2a7f-42ae-b3a2-7d292e262629","type":"build.code_activity","evidenceId":"ship:21ee6548-2a7f-42ae-b3a2-7d292e262629","what":"Code changes this week (since Mon 9 Nov)","headline":"Code changes, read from the team’s GitHub · not a deployment","capability":{"named":null,"basis":"code_week","text":"1 of 1 commit HEY read changed code. A week of code names no capability."},"stage":{"observed":"code","basis":"ship_type","notObserved":["release","deployment"],"text":"Code changes are not a deployment: HEY has not observed a release or a deployment of this code."},"reportedBy":{"kind":"team_source","text":"Read from the team’s GitHub."},"corroboration":{"state":"not_corroborated","by":[],"text":"Reported in the team’s own source. No independent record HEY holds corroborates it."},"releaseDeployment":{"state":"not_applicable","contracts":[],"evidence":[],"text":"Not a release or a deployment: code is not a deployment."},"activity":{"ownFunctionCalls":null,"tokenStandardCalls":null,"success":"not_measured","state":"NOT_APPLICABLE","scope":"none","window":null,"text":"No contract is tied to this change, so no product activity is attributed to it. Product usage is read on its own.","aroundUrl":"https://heyresearch.xyz/api/projects/borro-markets/around/ship%3A21ee6548-2a7f-42ae-b3a2-7d292e262629"},"time":{"occurredAt":"2026-11-12T16:42:56.000Z","precision":"WEEK","detectedAt":"2026-11-13T01:21:18.460Z","recordedAt":"2026-11-13T02:25:08.429Z","origin":"live","basis":"source_dated","lateIndexed":false,"text":"The source dates it to the week of 2026-11-12; HEY first knew on 2026-11-13."},"standing":{"state":"standing","withdrawnEvidence":[]},"evidence":[{"id":"ship:21ee6548-2a7f-42ae-b3a2-7d292e262629","receiptUrl":"https://heyresearch.xyz/api/evidence/ship%3A21ee6548-2a7f-42ae-b3a2-7d292e262629"}],"unknowns":[{"code":"capability_not_named","text":"No source HEY holds names what this change does."},{"code":"deployment_not_observed","text":"HEY has not observed a deployment of this change."}],"limit":"A ship says what was shipped and where HEY read it. It is not a judgement of quality, of the team, or of what the token will do.","explainUrl":"https://heyresearch.xyz/api/projects/borro-markets/explain?fact=build.change&event=ship%3A21ee6548-2a7f-42ae-b3a2-7d292e262629"}},{"dimension":"unknown","label":"Not yet known","tag":"UNKNOWN","text":"1 gap: Protocol economics (no source). DefiLlama lists the protocol but tracks no fees, revenue or volume for 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source added: GitHub repo","evidence":[{"id":"source:478bc3f3-46ac-4193-acff-c70332b13ed9","label":"GitHub repo","url":"https://github.com/BorroMarkets/borro-live"}],"source":"github-search"},{"id":"ship:21ee6548-2a7f-42ae-b3a2-7d292e262629","revision":4,"op":"upsert","type":"build.code_activity","domain":"build","occurredAt":"2026-11-12T16:42:56.000Z","precision":"WEEK","detectedAt":"2026-11-13T01:21:18.460Z","recordedAt":"2026-11-13T02:25:08.429Z","summary":"Code changes, week of 2026-11-09 – 2026-11-15","summaryCurrent":"Code changes, week starting 2026-11-09 (to 2026-11-13)","evidence":[{"id":"ship:21ee6548-2a7f-42ae-b3a2-7d292e262629","label":"GitHub","url":"https://github.com/borromarkets/borro-live"}],"source":"github","countsAsBuilding":true},{"id":"sourcechange:46191702-83fa-4384-873a-8a900ff767a6","revision":1,"op":"upsert","type":"research.source_changed","domain":"research","occurredAt":null,"precision":"OBSERVED","detectedAt":"2026-11-11T19:09:58.014Z","recordedAt":"2026-11-11T19:10:08.839Z","summary":"Official API description changed: 3 operations added, 0 removed","evidence":[{"id":"sourcechange:46191702-83fa-4384-873a-8a900ff767a6","label":"Official site","url":"https://borro.markets/openapi.json"}],"source":"official_site"},{"id":"signal:c0761c7b-4170-4a98-8a5e-130be54e0108","revision":1,"op":"upsert","type":"market.liquidity_moved","domain":"market","occurredAt":"2026-11-11T06:09:13.068Z","precision":"WINDOW","detectedAt":"2026-11-11T06:09:15.350Z","recordedAt":"2026-11-11T06:10:03.150Z","summary":"Liquidity $109K → $58K in a 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