{
  "schema": "alcum.attestation/1",
  "series": "SAMPLE-2026-A (unhedged)",
  "network": "sepolia",
  "sample": true,
  "date": "2026-09-17",
  "valuation": {
    "nav": 262143.35,
    "units": 25000,
    "unitValue": 10.4857,
    "dealingPrice": 10.4857,
    "dealing": {
      "allocations": 0,
      "allocatedUsdc": 0,
      "unitsIssued": 0,
      "redemptions": 0,
      "unitsRetired": 0,
      "paidUsdc": 0,
      "nettedUsdc": 0,
      "netFlowUsdc": 0
    },
    "haircutWithheld": 6048.6,
    "highWaterMark": null,
    "operationalMark": null,
    "attribution": {
      "copperPrice": 2635,
      "fx": 0,
      "operational": -920,
      "hedge": 0,
      "haircuts": -6048.6,
      "fees": -10.96,
      "flows": 0
    },
    "attributionPerUnit": {
      "copperPrice": 0.1054,
      "fx": 0,
      "operational": -0.0368,
      "hedge": 0,
      "haircuts": -0.241944,
      "fees": -0.000439,
      "flows": 0
    },
    "contributions": [
      {
        "eventId": "fee-2026-09-17",
        "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": -10.96,
          "flows": 0
        }
      },
      {
        "eventId": "f07fbf5c-78fa-48d9-8fc5-383c844a692b",
        "type": "FX_CONVERSION",
        "note": "USDC→EUR for the second lot, FX fee + transfer + gas",
        "evidenceRef": "sha256:a4ef6fe1c592",
        "effect": {
          "copperPrice": 0,
          "fx": 0,
          "operational": -380,
          "hedge": 0,
          "haircuts": 0,
          "fees": 0,
          "flows": 0
        }
      },
      {
        "eventId": "86077d44-bbde-45ff-be98-b06809cb0703",
        "type": "PURCHASE_PAID",
        "note": "Copper bought ex-warehouse, 17,000 kg at LME cash 14,077 USD/t",
        "evidenceRef": "sha256:eed8f683bf7c",
        "effect": {
          "copperPrice": 0,
          "fx": 0,
          "operational": -540,
          "hedge": 0,
          "haircuts": -8375.82,
          "fees": 0,
          "flows": 0
        }
      },
      {
        "eventId": "a93040ef-eae2-4c3b-931b-96cf7f71b8bd",
        "type": "CUSTODY_RECEIPT",
        "note": "Title transferred in the warehouse, received into custody, weight recorded",
        "evidenceRef": "sha256:1258c54406f9",
        "effect": {
          "copperPrice": 0,
          "fx": 0,
          "operational": 0,
          "hedge": 0,
          "haircuts": 2393.09,
          "fees": 0,
          "flows": 0
        }
      },
      {
        "eventId": "93520dd3-6715-4c96-b93b-eda1707f4bb3",
        "type": "INVENTORY_REVALUATION",
        "note": "Copper +1.10 % vs last valuation (metals.dev lme_copper USD/t as of 2026-09-17T14:45:08.474Z)",
        "evidenceRef": "sha256:cf2c2d4ce25a",
        "effect": {
          "copperPrice": 2635,
          "fx": 0,
          "operational": 0,
          "hedge": 0,
          "haircuts": -65.87,
          "fees": 0,
          "flows": 0
        }
      }
    ]
  },
  "inputs": {
    "eventLogSha256": "b2dbad3f7b380c469e6133e5db15ba0370b2cdbca5f04b218c561009bb7c6adc",
    "eventCount": 32,
    "methodology": "design document §3.7 / owner checklist xCUP Share Price Update Events (revised), with §3.8 corrections"
  },
  "issuedAt": "2026-09-17T15:00:00.000Z",
  "signer": {
    "alg": "Ed25519",
    "publicKeyPem": "-----BEGIN PUBLIC KEY-----\nMCowBQYDK2VwAyEAK3Xme4H2XZPGZphfWnUzgoaNHm9nJleg2R+U9hC0ub8=\n-----END PUBLIC KEY-----\n",
    "kind": "dev-file"
  },
  "signature": "ozjKt3nmr5iXCxsV228nBOPbosSg2+l3FP4HObYTSwLf7mFXAzFXlH2ItByE1QNH6qbfJMVEifmg5EmmSM87Dg=="
}