{"summary":{"version":"summary-v1","lines":[{"dimension":"build","label":"Build","tag":"UNKNOWN","text":"Not measured — 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/denar-markets/timeline","freshness":"unknown","reason":"no_builder_source","answer":"Not measured — builder source held, not counted"},{"dimension":"usage","label":"Product usage","tag":"FACT","text":"1 of 1 watched contract active · 308 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/denar-markets/usage","observedAt":"2026-11-04T00:40:41.528Z","freshness":"fresh"},{"dimension":"market","label":"Market","tag":"DERIVED","text":"Liquidity no longer detected: HEY holds a valuation and does not publish it while the market is not live.","evidence":[],"basis":"rule_output","detailUrl":"https://heyresearch.xyz/api/projects/denar-markets/market","observedAt":"2026-11-04T00:31:20.809Z","freshness":"fresh","reason":"liquidity_far_below_peak"},{"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/denar-markets/contracts","observedAt":"2026-10-31T10:04:11.190Z","freshness":"fresh"},{"dimension":"security","label":"Security context","tag":"FACT","text":"1 audit report linked (1 claimed by the project). Context, never a verdict on the project. An audit shows an audit took place; it is not a guarantee of safety.","evidence":[{"id":"security:735fd194-d855-4305-8ba4-5659ac57f02d:audit:09bc8be1c36e43aa","label":"Audit report","url":"https://www.denar.markets/audit.pdf","receiptUrl":"https://heyresearch.xyz/api/evidence/security%3A735fd194-d855-4305-8ba4-5659ac57f02d%3Aaudit%3A09bc8be1c36e43aa"}],"basis":"evidence_record","detailUrl":"https://heyresearch.xyz/api/projects/denar-markets/snapshot","freshness":"fresh"},{"dimension":"latestChange","label":"Latest change","tag":"FACT","text":"27 days ago: Links the official site declares changed: 0 added, 1 removed. Removed feed link: docs.denar.markets/sitemap.xml.","evidence":[{"id":"sourcechange:5a78b74b-9559-48d0-b3d7-d0260e708571","label":"Official site","url":"https://docs.denar.markets/protocol/onchain-markets","receiptUrl":"https://heyresearch.xyz/api/evidence/sourcechange%3A5a78b74b-9559-48d0-b3d7-d0260e708571"}],"basis":"evidence_record","detailUrl":"https://heyresearch.xyz/api/changes?project=denar-markets","observedAt":"2026-10-08T21:11:09.563Z","freshness":"fresh","change":{"version":"change-explain-v1","eventId":"sourcechange:5a78b74b-9559-48d0-b3d7-d0260e708571","type":"research.source_changed","evidenceId":"sourcechange:5a78b74b-9559-48d0-b3d7-d0260e708571","what":"Links the official site declares changed: 0 added, 1 removed. Removed feed link: docs.denar.markets/sitemap.xml","headline":"Official site change, on the project’s own site · not an implementation HEY has seen","capability":{"named":"Links the official site declares changed: 0 added, 1 removed. Removed feed link: docs.denar.markets/sitemap.xml","basis":"site_text","text":"Links the official site declares changed: 0 added, 1 removed. Removed feed link: docs.denar.markets/sitemap.xml."},"stage":{"observed":"site_change","basis":"ledger_type","notObserved":["code","release","deployment"],"text":"A change to what the site says is not an implementation: HEY has not observed code, a release or a deployment for it."},"reportedBy":{"kind":"team_source","text":"On the project’s own site."},"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."},"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."},"time":{"occurredAt":null,"precision":"OBSERVED","detectedAt":"2026-10-08T21:11:09.563Z","recordedAt":"2026-10-17T04:15:01.634Z","origin":"live","basis":"observed_by_hey","lateIndexed":false,"text":"No source dates it: HEY first saw it on 2026-10-08."},"standing":{"state":"standing","withdrawnEvidence":[]},"evidence":[{"id":"sourcechange:5a78b74b-9559-48d0-b3d7-d0260e708571","receiptUrl":"https://heyresearch.xyz/api/evidence/sourcechange%3A5a78b74b-9559-48d0-b3d7-d0260e708571"}],"unknowns":[{"code":"deployment_not_observed","text":"HEY has not observed a deployment of this change."},{"code":"occurred_at_unknown","text":"No source dates it; when it happened is not known."}],"limit":"It says what HEY read in a public source. A source on record does not prove who runs the project.","explainUrl":"https://heyresearch.xyz/api/projects/denar-markets/explain?fact=build.change&event=sourcechange%3A5a78b74b-9559-48d0-b3d7-d0260e708571"}},{"dimension":"unknown","label":"Not yet known","tag":"UNKNOWN","text":"4 gaps: Building activity (no source), Repositories (no source), Releases (no source), +1 more. No repository, changelog or feed to read.","evidence":[],"basis":"coverage_state","detailUrl":"https://heyresearch.xyz/api/projects/denar-markets/coverage","freshness":"unknown","reason":"no_builder_source"}],"computedAt":"2026-11-04T00:51:25.860Z"},"identity":{"slug":"denar-markets","name":"Denar Markets","symbol":"denar","projectKind":"OTHER","researchLevel":"RESEARCHED","catalogStatus":"QUALIFIED","primaryNarrative":{"slug":"lending","name":"Lending"},"token":{"chainId":4663,"contractAddress":"0x3786728a2c49c4617bf4fe5bd82b90b6b0df5508"},"websiteUrl":"https://www.denar.markets/","officialX":{"handle":"DenarMarkets","url":"https://x.com/DenarMarkets","status":"ACTIVE","checkedAt":"2026-11-03T02:22:51.429Z","linkHeld":null,"corroboration":"mutual_site_link","corroborationCheckedAt":"2026-11-03T02:22:51.429Z","foundByHey":false},"firstRecordedByHeyAt":"2026-09-02T19:50:10.691Z","url":"https://heyresearch.xyz/project/denar-markets"},"build":{"activityStatus":"UNKNOWN","activityMeasured":false,"stillBuilding":false,"stillBuildingState":"NOT_MEASURED","stillBuildingWithheld":"market_not_live","discoveryGapWithheld":"market_not_live","underTheRadar":{"state":"NOT_MEASURED","reason":"market_not_live","explainUrl":"https://heyresearch.xyz/api/projects/denar-markets/explain?fact=discovery_gap"},"velocity":{"state":"NOT_MEASURED","current":null,"previous":null,"windowDays":30},"cadence":{"state":"INSUFFICIENT_RELEASES"},"hasBuilderSource":false},"market":{"valuationWithheld":"liquidity_far_below_peak","liquidity":{"usd":7062.89,"source":"dexscreener","observedAt":"2026-11-03T02:56:23.035Z","kind":"market"},"volume24h":{"usd":64.789615,"source":"onchain","observedAt":"2026-11-04T00:31:20.809Z"},"venue":"v4-style","tokenMarket":{"status":"LIQUIDITY_REMOVED","reason":"liquidity_far_below_peak","label":"Liquidity no longer detected"},"launchStage":"DEX","promotion":{"entries":[{"kind":"MARKET_PROMOTION_OBSERVED","channel":"token_profile_order","channelLabel":"Enhanced token profile","providerAt":"2026-08-30T21:45:19.638Z","firstObservedAt":"2026-09-29T04:26:17.977Z","lastObservedAt":"2026-10-28T00:23:01.727Z","source":"dexscreener"}],"total":1,"contextOnly":true},"url":"https://heyresearch.xyz/api/projects/denar-markets/market"},"onchain":{"events24h":7,"eventsDay":"2026-11-03","events7d":106,"calls24h":22,"daysCovered":7,"daysMeasured":7,"observedAt":"2026-11-04T00:05:11.205Z"},"developerFootprint":{"repositories":{"state":"NO_SOURCE","reason":"no_repository","official":0,"metadataRead":0},"productionDeployment":{"state":"NOT_APPLICABLE"},"packages":{"state":"NOT_APPLICABLE","reason":"no_repository_no_package"},"advisories":{"state":"NOT_APPLICABLE","reason":"no_accepted_package","subject":"PUBLISHED_PACKAGE"},"contextOnly":true,"coverageUrl":"https://heyresearch.xyz/api/projects/denar-markets/coverage"},"usage":{"dimension":"usage","state":"MEASURED","reason":"measured","source":"decoded_calls","window":{"from":"2026-10-28","to":"2026-11-03","days":7},"collectedFrom":"2026-08-26","collectedThrough":"2026-11-03","observedAt":"2026-11-04T00:40:41.528Z","watchedContracts":1,"daysCovered":7,"activeContracts":1,"calls":308,"erc20Calls":308,"otherCalls":0,"functionsCalled":0,"callerAddresses":{"latestDay":{"day":"2026-11-03","count":11,"basis":"EXACT"},"peakDay":{"day":"2026-10-28","count":26,"basis":"EXACT"},"window":null,"windowReason":"distinct_across_days_not_measured","daysWithoutCount":0,"unit":"addresses"},"events":106,"basis":{"observed":7,"reconstructedFromChain":0},"topMethods":[{"rank":1,"contract":"0x3786728a2c49c4617bf4fe5bd82b90b6b0df5508","bucket":"erc20_standard","calls":308}],"names":"WITHHELD","methodEvents":{"firstObserved":0,"resumed":0,"ids":[]},"contextOnly":true,"url":"https://heyresearch.xyz/api/projects/denar-markets/usage"},"security":{"audits":{"state":"MEASURED","readFrom":["official_site","official_site_files"],"items":[{"id":"security:735fd194-d855-4305-8ba4-5659ac57f02d:audit:09bc8be1c36e43aa","url":"https://www.denar.markets/audit.pdf","authority":"PROJECT_CLAIMED","hostedOn":"PROJECT_SITE","auditor":null,"date":null,"isPdf":true,"foundBy":[{"foundVia":"official_site","foundOnUrl":"https://www.denar.markets/","firstObservedAt":"2026-09-28T23:46:41.901Z","lastObservedAt":"2026-10-31T00:17:26.470Z"}],"observedAt":"2026-09-28T23:46:41.901Z"}]},"bugBounty":{"state":"NONE_FOUND","readFrom":["official_site","official_site_files"],"readAt":"2026-10-31T00:17:26.470Z"},"securityTxt":{"state":"NONE_FOUND","url":"https://denar.markets/.well-known/security.txt","readAt":"2026-10-21T02:12:59.260Z","reason":"absent"},"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; 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Readings: DEX Screener.","evidence":[{"id":"integrity:93a172a4-62cb-4a63-97cb-0e46adb7bcf8:collapse:2026-10-25","label":"HEY market index"}],"source":"hey_market_index"},{"id":"signal:ccce6b88-434c-4d7a-9915-1fc2c4da3bee","revision":1,"op":"upsert","type":"market.liquidity_moved","domain":"market","occurredAt":"2026-10-20T12:14:26.455Z","precision":"WINDOW","detectedAt":"2026-10-20T12:14:29.688Z","recordedAt":"2026-10-20T12:15:01.499Z","summary":"Liquidity $33K → $19K in a week","evidence":[{"id":"signal:ccce6b88-434c-4d7a-9915-1fc2c4da3bee","label":"HEY Signal"},{"id":"signal:ccce6b88-434c-4d7a-9915-1fc2c4da3bee","label":"Liquidity, day by 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