{
 "symbol": "ARK", "name": "ARK", "review_date": "2026-10-08",
 "reviewer": "AI", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065",
 "audit": true,
 "one_sentence_zh": "ARK 是 2017 年起的 DPoS Layer-1（51 个验证人），正在开发新客户端 Mainsail（EVM 兼容，仍在测试网）；链上交易极少，没有明确的付费方。",
 "one_sentence_en": "ARK is a 2017-era DPoS Layer-1 (51 validators) now rebuilding its client as Mainsail (EVM-compatible, still on testnet); on-chain activity is minimal and there is no clear paying customer.",
 "red_lines": {
   "R1": {"hit": true, "note": "DefiLlama 无条目；区块浏览器只显示累计 500 万笔交易/37M 区块，没有费用收入统计；无可复算的收入报表。收入不可核实（实质接近零）。", "sources": ["https://live.arkscan.io/", "https://ark.io/"]},
   "R2": {"hit": false, "note": "无回购/销毁机制，无从命中。", "sources": ["https://ark.io/"]},
   "R3": {"hit": false, "unlock_12m_frac_of_circ": 0.0, "note": "流通 199.6M ≈ 总量 199.6M，FDV/市值 = 1.0，无锁仓解锁。", "sources": ["https://api.coingecko.com/api/v3/coins/ark?localization=false&tickers=false&community_data=true&developer_data=false"]},
   "R4": {"hit": false, "note": "ARK 用于 DPoS 投票/委托与手续费，具备治理与经济权利。", "sources": ["https://ark.io/", "https://live.arkscan.io/"]},
   "R5": {"hit": false, "note": "能说清是什么（L1），但说不清谁付钱、为什么付；B1 给低分而非 0。", "sources": ["https://ark.io/"]},
   "R6": {"hit": false, "note": "团队（ARK SCIC）仍每周发布开发报告，未发现跑路/被盗/强制下架。", "sources": ["https://arkscic.com/blog", "https://arkscic.com/blog/mainsail-hardens-up-consensus-safety-evm-performance-and-an-upcoming-testnet-reset"]}
 },
 "A_judge": {"mechanism_executing": null, "mechanism_desc": "无收入回流代币机制（无回购、销毁或分红）；验证人收取区块奖励与手续费，但网络费用收入未有公开统计。", "sources": ["https://ark.io/", "https://live.arkscan.io/"]},
 "B": {
   "one_sentence": {"score": 0.5, "evidence": "L1 定位清楚，但官网/浏览器均找不到付费用户或收入来源；206K 钱包、累计 5M 交易（8 年）说明使用极低。", "sources": ["https://ark.io/", "https://live.arkscan.io/"]},
   "moat": {"score": 0.0, "evidence": "无网络效应或流动性深度证据；Mainsail 仍在测试网，EVM 兼容是追赶而非差异化。", "sources": ["https://arkscic.com/blog/mainsail-hardens-up-consensus-safety-evm-performance-and-an-upcoming-testnet-reset"]},
   "ten_years": {"score": 0.5, "evidence": "团队持续开发（2026-10-02 仍有开发报告），但若没有它行业不会倒退；mainnet 日期未定。", "sources": ["https://arkscic.com/blog", "https://arkscic.com/blog/ark-development-report-october-02-2026"]},
   "people_governance": {"score": 1.0, "evidence": "无 VC/团队锁仓抛压（全流通）；开发透明（周报）。但承诺的 Mainsail 主网多年未上线，兑现率偏低。", "sources": ["https://arkscic.com/blog", "https://api.coingecko.com/api/v3/coins/ark?localization=false&tickers=false&community_data=true&developer_data=false"]}
 },
 "C_judge": {
   "users_growth": {"score": 0.0, "evidence": "未找到证据（浏览器无 90 天活跃地址对比数据）。", "sources": []},
   "utility": {"score": 0.5, "evidence": "ARK 为 gas 与投票代币，但链上需求极低。", "sources": ["https://live.arkscan.io/"]},
   "culture": {"score": 0.0, "evidence": "未找到证据。", "sources": []},
   "web3_direction": {"score": 0.0, "evidence": "通用 L1 赛道拥挤，不代表方向。", "sources": ["https://ark.io/"]}
 },
 "confidence": "medium",
 "notes": "30 日涨幅 +86.9% 来自投机而非基本面；全流通是唯一正面项。本次未能使用 WebSearch，仅基于官网/浏览器/博客。"
}