Treat the reference gap as a queue, not a trade
The Research Queue ranks assets by reference gap together with observed token liquidity. The gap compares the tokenized instrument with its reference, but execution can be blocked by market hours, issuer rules, bridges, fees, stale liquidity or fragmented venues. Open the inspector before assuming the two prices are directly interchangeable.
Read the coverage badge on every claim
Contract-resolved means activity is tied to a known wrapper contract. Symbol matched means CEX movement is associated by ticker and is less precise. Reference coverage states whether the underlying comparison is available. Missing coverage is shown separately from zero activity: no observation is not the same as an observed zero.
- Contract-resolved Activity tied to a verified wrapper contract.
- Symbol matched Flow associated by symbol, not full contract identity.
- Unavailable The source cannot support the claim yet.
Separate contract activity from capital flow
The Activity Tape contains contract-resolved execution and first-seen milestones. Capital Lens shows indexed CEX deposits and withdrawals by issuer and explicitly labels symbol-matched coverage. A wrapper can trade actively on-chain while CEX flow remains unavailable, or show exchange movement without enough contract-resolved trades. Keep the two evidence types separate.
Compare issuers before comparing prices
Issuer Map shows how the asset universe, volume, reference coverage and indexed flow are fragmented across providers. Two tokens tracking the same stock can have different contracts, redemption paths, liquidity and trading hours. Identity comes before gap size.
Frequently asked questions
Is a large reference gap an arbitrage opportunity?
Not by itself. Confirm contract identity, market hours, liquidity, transfer and redemption paths, fees and whether both prices are executable.
What does symbol-matched CEX flow mean?
The exchange movement is associated by ticker rather than fully resolved wrapper-contract identity. It is useful context but carries lower identity precision.