Gladius Protocol builds baskets that never rebalance: 2 to 15 tokens locked into a single ERC-20 whose weights are written once and cannot be changed by anyone, including us. This is a community token. It carries no claim on the protocol, no share of revenue and no governance rights, because the contracts have nothing to govern and no revenue to divide. The protocol itself does not use it. The contracts, their tests and the documentation are public and meant to be checked.
Read moreBuild Momentum 0How it is measured
Why it matters: The first week of code changes HEY has recorded for this project.
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Counted from the chain. Usage says the contracts are used, not that anyone is building.
HEY can answer 15 of the 19 research questions that apply · Research coverage
Checked
Code activitySource linked
What changed, in the repository’s own words:
1 active day in gladiusprotocol/gladius.
This week HEY looked inside 1 commit to see what changed: 1 changed code.
Record ship:029c1c3e… · HEY counts it as building; it does not judge the release’s quality or what it means for the token.
Shared change · Verified builder
Builder status: Quiet.
Observed by HEY on 2026-10-03Source: hey state
Written by HEY researchers and reviewed before publishing. Commentary with sources — not the project's own claims, and not evidence of shipping.
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9 changes on HEY’s record for Gladius protocol by Virtuals: 2 verification changes · 6 market moves · 1 week of code pushed.
Liquidity $7K → $12K in a week
Liquidity $6K → $15K in a week
Research standing moved from Published to Verified builder
Research standing moved from Published to Verified builder
Liquidity $12K → $6K in a week
All 9 changes for Gladius protocol by Virtuals →
The full change record holds 3 more, of kinds this list leaves out — lock records and HEY’s own research bookkeeping among them. Full record (JSON)
HEY can answer 15 of the 19 research questions that apply.
Not applicable here: Package advisories, Protocol economics.
A count of what HEY has read, never a score: projects are not compared or ordered by it. Unknown is never zero. The same states: coverage API.
Observed after, over 7 days: calls 12.9/day · volume $7.04/day · liquidity $6.2K.
Code changes, week of 2026-08-24 – 2026-08-30 · 1 commitCode activityin the week of 24 Aug (week precision)
| Measure | Observed before17–23 Aug | Observed after31 Aug–6 Sep |
|---|---|---|
| Volume per daypartly provider archive | Not measured: HEY began reading this market’s price, liquidity and volume on 2026-08-30, during this ship’s week | $7.04/day5 of 7 days |
| Liquidity | Not measured: HEY began reading this market’s price, liquidity and volume on 2026-09-03, after this ship | $6.2K |
| Calls per day | Not measured: HEY began counting this project’s calls on 2026-08-26, during this ship’s week | 12.9/day |
| Active contracts (busiest day) | Not measured: HEY began counting this project’s calls on 2026-08-26, during this ship’s week | 1 |
| Distinct caller addresses (busiest day) | Not measured: HEY began counting this project’s calls on 2026-08-26, during this ship’s week | 07 of 7 days |
Volume before 3 Sep come from GeckoTerminal’s daily candles (provider archive, read 2 Oct), not from HEY’s own readings; HEY’s own readings start 3 Sep. The archive holds no liquidity or valuation.
Not shown: Price and valuation: the market is not live
Observed around the same time — HEY does not claim this event caused it.
Market context and product usage, placed by time. Seven days either side; the day in progress is never compared. Open evidenceAs data
