{
  "data": {
    "schemaVersion": "1.0",
    "id": "metis_0101M04XD1S90WDF7K1V",
    "slug": "hoodx-trades-205-2bps-above-the-hood-reference-price-2026-08-16-091049",
    "version": 1,
    "status": "published",
    "category": "market",
    "title": "HOODx trades +205.2bps above the HOOD reference price",
    "dek": "Token price diverges 205.2bps from the reference equity price.",
    "summary": "HOODx trades at +205.2bps versus the HOOD reference price. Circulating supply is 597,392.589 tokens (+0% vs the prior observation). Tracked DEX liquidity totals $446,306 across 10 pools. The five largest token accounts hold 94% of supply (pools and custodial accounts included). 24h DEX volume of $3,110 implies 0.01x turnover of pooled liquidity.",
    "thesis": "The leading signal this cycle is premium divergence (Token price diverges 205.2bps from the reference equity price.) The measurements below are source-verified; interpretation is limited to what the evidence supports.",
    "whyItMatters": "Tokenized equities trade continuously while their reference markets do not. Divergence, liquidity, and activity shifts quantify what that continuous access costs or earns.",
    "assets": [
      {
        "id": "asset_hoodx",
        "symbol": "HOODx",
        "name": "Robinhood xStock",
        "assetType": "tokenized_equity",
        "chain": "solana",
        "contractAddress": "XsvNBAYkrDRNhA7wPHQfX3ZUXZyZLdnCQDfHZ56bzpg",
        "referenceTicker": "HOOD",
        "issuerId": "entity_backed"
      }
    ],
    "entities": [
      {
        "id": "entity_backed",
        "name": "Backed Assets",
        "type": "issuer"
      }
    ],
    "tags": [
      "hoodx",
      "solana",
      "market",
      "premium-divergence"
    ],
    "timeWindow": {
      "start": "2026-08-15T21:11:05.075Z",
      "end": "2026-08-16T09:10:31.698Z",
      "observedAt": "2026-08-16T09:10:31.698Z"
    },
    "observations": [
      {
        "id": "obs_price_divergence_1",
        "kind": "price_divergence",
        "statement": "HOODx trades at +205.2bps versus the HOOD reference price.",
        "metric": {
          "name": "premium_bps",
          "value": 205.2,
          "unit": "bps",
          "baseline": 238.83842309238787
        },
        "occurredAt": "2026-08-16T09:10:31.698Z",
        "evidenceIds": [
          "ev_solana_rpc_2026-08-16T091031531Z",
          "ev_solana_rpc_2026-08-16T091031619Z",
          "ev_dexscreener_2026-08-16T091031651Z",
          "ev_jupiter_2026-08-16T091031698Z"
        ]
      },
      {
        "id": "obs_supply_change_2",
        "kind": "supply_change",
        "statement": "Circulating supply is 597,392.589 tokens (+0% vs the prior observation).",
        "metric": {
          "name": "supply_ui_amount",
          "value": 597392.58886862,
          "unit": "tokens",
          "baseline": 597392.58886862,
          "delta": 0
        },
        "occurredAt": "2026-08-16T09:10:31.698Z",
        "evidenceIds": [
          "ev_solana_rpc_2026-08-16T091031531Z",
          "ev_solana_rpc_2026-08-16T091031619Z",
          "ev_dexscreener_2026-08-16T091031651Z",
          "ev_jupiter_2026-08-16T091031698Z"
        ]
      },
      {
        "id": "obs_liquidity_level_3",
        "kind": "liquidity_level",
        "statement": "Tracked DEX liquidity totals $446,306 across 10 pools.",
        "metric": {
          "name": "liquidity_usd",
          "value": 446306,
          "unit": "USD",
          "baseline": 445119
        },
        "occurredAt": "2026-08-16T09:10:31.698Z",
        "evidenceIds": [
          "ev_solana_rpc_2026-08-16T091031531Z",
          "ev_solana_rpc_2026-08-16T091031619Z",
          "ev_dexscreener_2026-08-16T091031651Z",
          "ev_jupiter_2026-08-16T091031698Z"
        ]
      },
      {
        "id": "obs_holder_concentration_4",
        "kind": "holder_concentration",
        "statement": "The five largest token accounts hold 94% of supply (pools and custodial accounts included).",
        "metric": {
          "name": "top5_account_share",
          "value": 0.9396366418157548,
          "unit": "ratio",
          "baseline": 0.9396366418157548
        },
        "occurredAt": "2026-08-16T09:10:31.698Z",
        "evidenceIds": [
          "ev_solana_rpc_2026-08-16T091031531Z",
          "ev_solana_rpc_2026-08-16T091031619Z",
          "ev_dexscreener_2026-08-16T091031651Z",
          "ev_jupiter_2026-08-16T091031698Z"
        ]
      },
      {
        "id": "obs_volume_context_5",
        "kind": "volume_context",
        "statement": "24h DEX volume of $3,110 implies 0.01x turnover of pooled liquidity.",
        "metric": {
          "name": "volume_24h_usd",
          "value": 3110,
          "unit": "USD"
        },
        "occurredAt": "2026-08-16T09:10:31.698Z",
        "evidenceIds": [
          "ev_solana_rpc_2026-08-16T091031531Z",
          "ev_solana_rpc_2026-08-16T091031619Z",
          "ev_dexscreener_2026-08-16T091031651Z",
          "ev_jupiter_2026-08-16T091031698Z"
        ]
      }
    ],
    "evidence": [
      {
        "id": "ev_solana_rpc_2026-08-16T091031531Z",
        "sourceId": "solana_rpc",
        "sourceType": "onchain",
        "title": "HOODx token supply at slot 439612866",
        "url": "https://solscan.io/token/XsvNBAYkrDRNhA7wPHQfX3ZUXZyZLdnCQDfHZ56bzpg",
        "publisher": "Solana mainnet (direct RPC)",
        "retrievedAt": "2026-08-16T09:10:31.531Z",
        "dataHash": "sha256:0daabcbf9ff7a676217dc921c1dfbab05240cd6665d5a2b2a9f3cbd3eb22d497",
        "reliability": "primary",
        "supportsClaimIds": [
          "clm_1",
          "clm_2",
          "clm_3",
          "clm_4"
        ]
      },
      {
        "id": "ev_solana_rpc_2026-08-16T091031619Z",
        "sourceId": "solana_rpc",
        "sourceType": "onchain",
        "title": "HOODx largest token accounts",
        "url": "https://solscan.io/token/XsvNBAYkrDRNhA7wPHQfX3ZUXZyZLdnCQDfHZ56bzpg#holders",
        "publisher": "Solana mainnet (direct RPC)",
        "retrievedAt": "2026-08-16T09:10:31.619Z",
        "dataHash": "sha256:c05d33c57e8ad6de8054dfd700ef6346214aa179bb9a16ede93c1029c15c32f7",
        "reliability": "primary",
        "supportsClaimIds": [
          "clm_1",
          "clm_2",
          "clm_3",
          "clm_4"
        ]
      },
      {
        "id": "ev_dexscreener_2026-08-16T091031651Z",
        "sourceId": "dexscreener",
        "sourceType": "market",
        "title": "HOODx DEX pools, liquidity, and volume",
        "url": "https://api.dexscreener.com/latest/dex/tokens/XsvNBAYkrDRNhA7wPHQfX3ZUXZyZLdnCQDfHZ56bzpg",
        "publisher": "DexScreener aggregated venue data",
        "retrievedAt": "2026-08-16T09:10:31.651Z",
        "dataHash": "sha256:3f6fe4adf8565b10f318ebb25d21a251b9163578b865afb25528ffb06249973b",
        "reliability": "high",
        "supportsClaimIds": [
          "clm_1",
          "clm_2",
          "clm_3",
          "clm_4"
        ]
      },
      {
        "id": "ev_jupiter_2026-08-16T091031698Z",
        "sourceId": "jupiter",
        "sourceType": "market",
        "title": "HOODx token price and HOOD reference price",
        "url": "https://lite-api.jup.ag/price/v3?ids=XsvNBAYkrDRNhA7wPHQfX3ZUXZyZLdnCQDfHZ56bzpg",
        "publisher": "Jupiter price service",
        "retrievedAt": "2026-08-16T09:10:31.698Z",
        "dataHash": "sha256:1411a7e96dd0de9f1bd9788ddebc84e11aa3ab6c22fd87d3da9f2a4d4bec34d0",
        "reliability": "high",
        "supportsClaimIds": [
          "clm_1",
          "clm_2",
          "clm_3",
          "clm_4"
        ]
      }
    ],
    "claims": [
      {
        "id": "clm_1",
        "statement": "HOODx circulating supply is 597,392.589 tokens, verified against Solana RPC.",
        "type": "fact",
        "evidenceIds": [
          "ev_solana_rpc_2026-08-16T091031531Z",
          "ev_solana_rpc_2026-08-16T091031619Z",
          "ev_dexscreener_2026-08-16T091031651Z",
          "ev_jupiter_2026-08-16T091031698Z"
        ],
        "confidence": 0.95
      },
      {
        "id": "clm_2",
        "statement": "HOODx trades at +205.2bps versus the HOOD reference price ($97.47987115556725 vs $95.52).",
        "type": "calculation",
        "evidenceIds": [
          "ev_solana_rpc_2026-08-16T091031531Z",
          "ev_solana_rpc_2026-08-16T091031619Z",
          "ev_dexscreener_2026-08-16T091031651Z",
          "ev_jupiter_2026-08-16T091031698Z"
        ],
        "confidence": 0.9
      },
      {
        "id": "clm_3",
        "statement": "Tracked DEX liquidity is $446,306 with $3,110 of 24h volume across 10 pools.",
        "type": "fact",
        "evidenceIds": [
          "ev_solana_rpc_2026-08-16T091031531Z",
          "ev_solana_rpc_2026-08-16T091031619Z",
          "ev_dexscreener_2026-08-16T091031651Z",
          "ev_jupiter_2026-08-16T091031698Z"
        ],
        "confidence": 0.88
      },
      {
        "id": "clm_4",
        "statement": "The positive premium is consistent with net token demand while reference-market arbitrage is constrained; it should compress when primary-market redemption is active.",
        "type": "hypothesis",
        "evidenceIds": [
          "ev_solana_rpc_2026-08-16T091031531Z",
          "ev_solana_rpc_2026-08-16T091031619Z",
          "ev_dexscreener_2026-08-16T091031651Z",
          "ev_jupiter_2026-08-16T091031698Z"
        ],
        "confidence": 0.5,
        "falsifiers": [
          "The gap persisting through active primary-market sessions would contradict the arbitrage-constraint reading."
        ]
      }
    ],
    "counterEvidence": [],
    "methodology": {
      "methods": [
        "Direct Solana RPC verification of token supply and largest accounts",
        "Cross-venue aggregation of DEX pools, liquidity, and volume",
        "Token-versus-reference price comparison from an independent price service",
        "Deterministic anomaly detection against stored observation baselines"
      ],
      "transformations": [
        "UTC clock normalization",
        "Raw payload hashing for every source fetch"
      ],
      "comparisonWindow": "Stored observation history for this asset",
      "exclusions": [
        "Sources that failed during collection are recorded, not imputed"
      ],
      "codeVersion": "metis-agent/0.2.0"
    },
    "confidence": {
      "score": 0.7,
      "band": "moderate",
      "rationale": "Confidence is computed from source coverage, cross-venue agreement, baseline depth, and independent verification. This run scored 0.7 (moderate).",
      "factors": [
        {
          "name": "source_coverage",
          "contribution": 0.24,
          "explanation": "3 independent sources fed this cycle."
        },
        {
          "name": "cross_venue_conflicts",
          "contribution": -0.1,
          "explanation": "1 unresolved cross-source disagreement(s)."
        },
        {
          "name": "baseline_depth",
          "contribution": 0.08,
          "explanation": "24 prior observation(s) available as baseline."
        },
        {
          "name": "verification_uncertainty",
          "contribution": -0.02,
          "explanation": "1 claim(s) could not be fully verified."
        }
      ]
    },
    "impact": "material",
    "limitations": [
      "This object was synthesized by deterministic templates from verified metrics, not a language model.",
      "Reference prices republished by the price service may lag the primary market.",
      "Largest-account concentration includes liquidity pools and custodial accounts; it is not a beneficial-owner distribution."
    ],
    "disclosures": [
      "This is informational research produced by an automated system. It may contain errors, omissions, or delayed data.",
      "Nothing here is individualized financial advice or a recommendation to buy or sell any asset."
    ],
    "relatedResearchIds": [],
    "provenance": {
      "runId": "run_01M04XCGKVFATGE0Y8",
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          "completedAt": "2026-08-16T09:10:45.226Z"
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      "sourceSnapshotHash": "sha256:660bb3440a8fced25e6b994b79be634a1d94a143e650cd1f441bfd8e3f51c6c9",
      "contentHash": "sha256:051187ca5af16919b36feb775ef1fdf2eb1408b1385de0322cbe18c1a3c2a7c8"
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      "publishedAt": "2026-08-16T09:10:49.385Z",
      "updatedAt": "2026-08-16T09:10:49.385Z"
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    "distribution": []
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    "schemaVersion": "1.0",
    "generatedAt": "2026-08-16T11:08:41.936Z"
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