{"summary":{"version":"summary-v1","lines":[{"dimension":"build","label":"Build","tag":"UNKNOWN","text":"Not measured — no builder source linked: HEY holds no repository, changelog or feed it can read, so no count here is a measured zero.","evidence":[],"basis":"not_held","detailUrl":"https://heyresearch.xyz/api/projects/pairex/timeline","freshness":"unknown","reason":"no_builder_source","answer":"Not measured — no builder source linked"},{"dimension":"usage","label":"Product usage","tag":"FACT","text":"1 of 1 watched contract active · 2,941 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/pairex/usage","observedAt":"2026-11-02T01:16:38.467Z","freshness":"fresh"},{"dimension":"market","label":"Market","tag":"DERIVED","text":"Active market: valuation not plausible from the readings HEY has — it is at least 10,000× the liquidity measured in the same reading — so HEY does not publish it.","evidence":[],"basis":"rule_output","detailUrl":"https://heyresearch.xyz/api/projects/pairex/market","observedAt":"2026-11-02T03:31:52.821Z","freshness":"fresh","reason":"valuation_over_liquidity"},{"dimension":"contract","label":"Contracts","tag":"FACT","text":"1 contract on record for code changes; no implementation or interface change recorded.","evidence":[],"basis":"registry_record","detailUrl":"https://heyresearch.xyz/api/projects/pairex/contracts","observedAt":"2026-11-01T20:11:13.898Z","freshness":"fresh"},{"dimension":"latestChange","label":"Latest change","tag":"DERIVED","text":"On 2026-09-15: HEY reclassified the project — official source added: x.","evidence":[{"id":"source:b7b63b29-5472-4925-b251-7d821c7fb1cf","label":"X","url":"https://x.com/PairEx_RH","receiptUrl":"https://heyresearch.xyz/api/evidence/source%3Ab7b63b29-5472-4925-b251-7d821c7fb1cf"}],"basis":"evidence_record","detailUrl":"https://heyresearch.xyz/api/changes?project=pairex","observedAt":"2026-09-15T00:36:20.506Z","freshness":"fresh","change":{"version":"change-explain-v1","eventId":"source:b7b63b29-5472-4925-b251-7d821c7fb1cf:added","type":"research.source_added","evidenceId":"source:b7b63b29-5472-4925-b251-7d821c7fb1cf","what":"Official source added: x","headline":"HEY’s own reading","capability":{"named":null,"basis":"not_held","text":"HEY’s own reading names no capability."},"stage":{"observed":"hey_reading","basis":"ledger_type","notObserved":[],"text":"HEY’s own reading of the record, not something the project shipped."},"reportedBy":{"kind":"hey_reading","text":"HEY’s reading of the record."},"corroboration":{"state":"not_applicable","by":[],"text":"HEY’s own reading of the record: nothing to corroborate."},"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":"2026-09-15T00:36:20.506Z","recordedAt":"2026-09-26T11:36:08.434Z","origin":"bootstrap","basis":"observed_by_hey","lateIndexed":true,"text":"No source dates it: HEY first saw it on 2026-09-15. HEY indexed it later, as history."},"standing":{"state":"standing","withdrawnEvidence":[]},"evidence":[{"id":"source:b7b63b29-5472-4925-b251-7d821c7fb1cf","receiptUrl":"https://heyresearch.xyz/api/evidence/source%3Ab7b63b29-5472-4925-b251-7d821c7fb1cf"}],"unknowns":[{"code":"capability_not_named","text":"No source HEY holds names what this change does."}],"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/pairex/explain?fact=build.change&event=source%3Ab7b63b29-5472-4925-b251-7d821c7fb1cf%3Aadded"}},{"dimension":"unknown","label":"Not yet known","tag":"UNKNOWN","text":"6 gaps: Building activity (no source), Repositories (no source), Releases (no source), +3 more. No repository, changelog or feed to read.","evidence":[],"basis":"coverage_state","detailUrl":"https://heyresearch.xyz/api/projects/pairex/coverage","freshness":"unknown","reason":"no_builder_source"}],"computedAt":"2026-11-02T03:58:38.733Z"},"identity":{"slug":"pairex","name":"Pairex","symbol":"PAIREX","projectKind":"OTHER","researchLevel":"RESEARCHED","catalogStatus":"QUALIFIED","token":{"chainId":4663,"contractAddress":"0x93d6e67bd9b499b0af7776ef5c109b1457543907"},"websiteUrl":"https://pairex.world/","officialX":{"handle":"PairEx_RH","url":"https://x.com/PairEx_RH","status":"SUSPENDED","checkedAt":"2026-10-26T02:24:35.713Z","linkHeld":null,"corroboration":null,"corroborationCheckedAt":null,"foundByHey":false},"firstRecordedByHeyAt":"2026-09-12T16:12:32.625Z","url":"https://heyresearch.xyz/project/pairex"},"build":{"activityStatus":"UNKNOWN","activityMeasured":false,"stillBuilding":false,"stillBuildingState":"NOT_MEASURED","stillBuildingWithheld":"market_too_thin","discoveryGapWithheld":"market_too_thin","underTheRadar":{"state":"NOT_MEASURED","reason":"market_too_thin","explainUrl":"https://heyresearch.xyz/api/projects/pairex/explain?fact=discovery_gap"},"velocity":{"state":"NOT_MEASURED","current":null,"previous":null,"windowDays":30},"cadence":{"state":"INSUFFICIENT_RELEASES"},"hasBuilderSource":false},"market":{"valuationWithheld":"valuation_over_liquidity","liquidity":{"usd":19266.14,"source":"dexscreener","observedAt":"2026-11-02T03:31:52.821Z","kind":"market"},"volume24h":{"usd":36.96,"source":"dexscreener","observedAt":"2026-11-02T03:31:52.821Z"},"priceChange24hPct":2.01,"venue":"Uniswap v2","tokenMarket":{"status":"ACTIVE_MARKET","reason":"liquidity_and_volume","label":"Active market"},"launchStage":"DEX","promotion":{"entries":[{"kind":"MARKET_PROMOTION_OBSERVED","channel":"boost_order","channelLabel":"Boost","providerAt":"2026-09-12T07:56:03.555Z","firstObservedAt":"2026-09-27T04:27:52.218Z","lastObservedAt":"2026-11-01T10:23:41.136Z","source":"dexscreener"},{"kind":"MARKET_PROMOTION_OBSERVED","channel":"token_profile_order","channelLabel":"Enhanced token profile","providerAt":"2026-09-12T07:14:29.363Z","firstObservedAt":"2026-09-27T04:27:52.218Z","lastObservedAt":"2026-11-01T10:23:41.136Z","source":"dexscreener"}],"total":2,"contextOnly":true},"url":"https://heyresearch.xyz/api/projects/pairex/market"},"onchain":{"events24h":126,"eventsDay":"2026-11-01","events7d":1036,"calls24h":373,"daysCovered":7,"daysMeasured":7,"observedAt":"2026-11-02T02:08:48.864Z"},"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/pairex/coverage"},"usage":{"dimension":"usage","state":"MEASURED","reason":"measured","source":"decoded_calls","window":{"from":"2026-10-26","to":"2026-11-01","days":7},"collectedFrom":"2026-09-11","collectedThrough":"2026-11-01","observedAt":"2026-11-02T01:16:38.467Z","watchedContracts":1,"daysCovered":7,"activeContracts":1,"calls":2941,"erc20Calls":2941,"otherCalls":0,"functionsCalled":0,"callerAddresses":{"latestDay":{"day":"2026-11-01","count":110,"basis":"EXACT"},"peakDay":{"day":"2026-10-28","count":123,"basis":"EXACT"},"window":null,"windowReason":"distinct_across_days_not_measured","daysWithoutCount":0,"unit":"addresses"},"events":1036,"basis":{"observed":7,"reconstructedFromChain":0},"topMethods":[{"rank":1,"contract":"0x93d6e67bd9b499b0af7776ef5c109b1457543907","bucket":"erc20_standard","calls":2941}],"names":"WITHHELD","methodEvents":{"firstObserved":0,"resumed":0,"ids":[]},"contextOnly":true,"url":"https://heyresearch.xyz/api/projects/pairex/usage"},"security":{"audits":{"state":"NOT_READ","reason":"official_site_not_corroborated"},"bugBounty":{"state":"NOT_READ","reason":"official_site_not_corroborated"},"securityTxt":{"state":"NOT_READ","reason":"official_site_not_corroborated"},"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-v2","state":"NO_COHORT","reason":"no_primary_narrative","computedAt":"2026-11-02T02:02:33.795Z","freshness":{"state":"CURRENT","asOf":"2026-11-02T02:02:33.795Z","staleAfterHours":36},"cohort":null,"minimums":{"median":8,"percentile":20},"dimensions":[],"methodology":"https://heyresearch.xyz/methodology#peers"},"contracts":{"url":"https://heyresearch.xyz/api/projects/pairex/contracts"},"verification":{"token":{"status":"UNVERIFIED","reason":"site_silent"},"ownerVerified":false,"submitted":false,"sources":{"total":2,"own":1,"verified":0,"contextOnly":1}},"locks":{"coverage":{"state":"MEASURED","asOf":"2026-11-02T00:37:33.098Z","reason":"hoodlock_only_none_found"}},"integrity":{"state":"MEASURED","reason":"published"},"latestChanges":{"available":true,"items":[{"id":"signal:ff40cd66-1863-4e0f-a14a-e50285b36cc0","revision":1,"op":"upsert","type":"market.liquidity_moved","domain":"market","occurredAt":"2026-10-29T18:08:23.130Z","precision":"WINDOW","detectedAt":"2026-10-29T18:08:30.416Z","recordedAt":"2026-10-29T18:10:03.765Z","summary":"Liquidity $19K → $300K in a week","evidence":[{"id":"signal:ff40cd66-1863-4e0f-a14a-e50285b36cc0","label":"HEY Signal"},{"id":"signal:ff40cd66-1863-4e0f-a14a-e50285b36cc0","label":"Liquidity, day by day","url":"https://heyresearch.xyz/project/pairex/market#history"}],"source":"hey_signal"},{"id":"signal:a34ffe3d-55a7-4e2c-b7bb-8c804537dc0b","revision":1,"op":"upsert","type":"market.volume_spike","domain":"market","occurredAt":"2026-10-02T00:30:59.390Z","precision":"WINDOW","detectedAt":"2026-10-02T00:31:03.667Z","recordedAt":"2026-10-02T00:42:53.401Z","summary":"$12K traded on 2026-10-01, 48.1× a typical day","evidence":[{"id":"signal:a34ffe3d-55a7-4e2c-b7bb-8c804537dc0b","label":"HEY Signal"},{"id":"signal:a34ffe3d-55a7-4e2c-b7bb-8c804537dc0b","label":"Trading, day by day","url":"https://heyresearch.xyz/project/pairex/market#trading"}],"source":"hey_signal"},{"id":"signal:80ec162a-665d-4320-82ce-519106f45f9c","revision":1,"op":"upsert","type":"market.liquidity_moved","domain":"market","occurredAt":"2026-09-30T18:08:55.882Z","precision":"WINDOW","detectedAt":"2026-09-30T18:08:59.573Z","recordedAt":"2026-09-30T18:10:00.983Z","summary":"Liquidity $9K → $13K in a week","evidence":[{"id":"signal:80ec162a-665d-4320-82ce-519106f45f9c","label":"HEY Signal"},{"id":"signal:80ec162a-665d-4320-82ce-519106f45f9c","label":"Liquidity, day by day","url":"https://heyresearch.xyz/project/pairex/market#history"}],"source":"hey_signal"},{"id":"integrity:12509c1d-f433-4f32-8b6b-3aa5c6c91bdd:activity:2026-09-14","revision":3,"op":"upsert","type":"market_integrity.event","domain":"market_integrity","occurredAt":null,"precision":"OBSERVED","detectedAt":"2026-09-24T21:29:05.992Z","recordedAt":"2026-10-16T11:25:05.199Z","summary":"Trading fell from 4,897 trades a day (the seven days to 2026-09-14) to 407 a day in the seven days to 2026-09-26, in HEY's decoded on-chain trades.","evidence":[{"id":"integrity:12509c1d-f433-4f32-8b6b-3aa5c6c91bdd:activity:2026-09-14","label":"HEY market index"}],"source":"hey_market_index"},{"id":"signal:2a6680c4-188f-4dcd-a8d3-155236bf09dc","revision":1,"op":"upsert","type":"market.liquidity_moved","domain":"market","occurredAt":"2026-09-23T18:07:54.513Z","precision":"WINDOW","detectedAt":"2026-09-23T18:07:56.132Z","recordedAt":"2026-09-26T11:36:08.434Z","summary":"Liquidity $4K → $9K in a week","evidence":[{"id":"signal:2a6680c4-188f-4dcd-a8d3-155236bf09dc","label":"HEY Signal"},{"id":"signal:2a6680c4-188f-4dcd-a8d3-155236bf09dc","label":"Liquidity, day by 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source-backed activity HEY recorded. Still Building means counted ships during a market drawdown HEY itself tracked — 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."}