{
  "schema": "alcum.attestation/1",
  "series": "SAMPLE-2026-A (unhedged)",
  "network": "sepolia",
  "sample": true,
  "date": "2026-08-19",
  "valuation": {
    "nav": 238373.47,
    "units": 25000,
    "unitValue": 9.5349,
    "dealingPrice": 9.5349,
    "dealing": {
      "allocations": 0,
      "allocatedUsdc": 0,
      "unitsIssued": 0,
      "redemptions": 0,
      "unitsRetired": 0,
      "paidUsdc": 0,
      "nettedUsdc": 0,
      "netFlowUsdc": 0
    },
    "haircutWithheld": 4848.17,
    "highWaterMark": null,
    "operationalMark": null,
    "attribution": {
      "copperPrice": -3236.57,
      "fx": 0,
      "operational": -1600,
      "hedge": 0,
      "haircuts": 120.91,
      "fees": -9.99,
      "flows": 0
    },
    "attributionPerUnit": {
      "copperPrice": -0.129463,
      "fx": 0,
      "operational": -0.064,
      "hedge": 0,
      "haircuts": 0.004837,
      "fees": -0.0004,
      "flows": 0
    },
    "contributions": [
      {
        "eventId": "fee-2026-08-19",
        "type": "FEE_ACCRUAL",
        "note": "1.50 % p.a., one day on the NAV before fees",
        "effect": {
          "copperPrice": 0,
          "fx": 0,
          "operational": 0,
          "hedge": 0,
          "haircuts": 0,
          "fees": -9.99,
          "flows": 0
        }
      },
      {
        "eventId": "56f2ab7d-47d5-4b34-bdb8-f6fbc10b2e1a",
        "type": "INVENTORY_REVALUATION",
        "note": "Initial assay: contained copper 0.8 % below estimate",
        "evidenceRef": "sha256:411d295d1dbc",
        "effect": {
          "copperPrice": 0,
          "fx": 0,
          "operational": -1600,
          "hedge": 0,
          "haircuts": 40,
          "fees": 0,
          "flows": 0
        }
      },
      {
        "eventId": "2a59e208-9d8b-437a-b94b-9b0108fd552b",
        "type": "INVENTORY_REVALUATION",
        "note": "Copper price −1.64 % since the last valuation (LME cash 14,080.01 USD/t)",
        "evidenceRef": "sha256:859f6053eeb6",
        "effect": {
          "copperPrice": -3236.57,
          "fx": 0,
          "operational": 0,
          "hedge": 0,
          "haircuts": 80.91,
          "fees": 0,
          "flows": 0
        }
      }
    ]
  },
  "inputs": {
    "eventLogSha256": "97da557eea45cbb9202c0e8289547d60c731514f0f449f392fe73d22e9821dbf",
    "eventCount": 13,
    "methodology": "design document §3.7 / owner checklist xCUP Share Price Update Events (revised), with §3.8 corrections"
  },
  "issuedAt": "2026-08-19T15:00:00.000Z",
  "signer": {
    "alg": "Ed25519",
    "publicKeyPem": "-----BEGIN PUBLIC KEY-----\nMCowBQYDK2VwAyEAK3Xme4H2XZPGZphfWnUzgoaNHm9nJleg2R+U9hC0ub8=\n-----END PUBLIC KEY-----\n",
    "kind": "dev-file"
  },
  "signature": "kH13P3CQwXiWDfYTJ3bTmXq/7lK1gomCKYu2XeiHctTTfTvjeLvVa1PL/1V++X2vtIqLuKo1EO+UqOStBq4BDQ=="
}