{
  "schema": "alcum.attestation/1",
  "series": "SAMPLE-2026-B (hedged)",
  "network": "sepolia",
  "sample": true,
  "date": "2026-08-18",
  "valuation": {
    "nav": 242285.16,
    "units": 25000,
    "unitValue": 9.6914,
    "dealingPrice": 9.6914,
    "dealing": {
      "allocations": 0,
      "allocatedUsdc": 0,
      "unitsIssued": 0,
      "redemptions": 0,
      "unitsRetired": 0,
      "paidUsdc": 0,
      "nettedUsdc": 0,
      "netFlowUsdc": 0
    },
    "haircutWithheld": 4969.09,
    "highWaterMark": null,
    "operationalMark": null,
    "attribution": {
      "copperPrice": 2513.18,
      "fx": 0,
      "operational": 0,
      "hedge": -2398.94,
      "haircuts": -62.83,
      "fees": -9.96,
      "flows": 0
    },
    "attributionPerUnit": {
      "copperPrice": 0.100527,
      "fx": 0,
      "operational": 0,
      "hedge": -0.095958,
      "haircuts": -0.002513,
      "fees": -0.000398,
      "flows": 0
    },
    "contributions": [
      {
        "eventId": "fee-2026-08-18",
        "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": -9.96,
          "flows": 0
        }
      },
      {
        "eventId": "feb96245-a78e-4efb-83bb-9a87c5e6689b",
        "type": "INVENTORY_REVALUATION",
        "note": "Copper price +1.28 % since the last valuation (LME cash 14,315.00 USD/t)",
        "evidenceRef": "sha256:8ca7e1ee4399",
        "effect": {
          "copperPrice": 2513.18,
          "fx": 0,
          "operational": 0,
          "hedge": 0,
          "haircuts": -62.83,
          "fees": 0,
          "flows": 0
        }
      },
      {
        "eventId": "d7e9e511-69f8-4583-b9ff-762cef1b9524",
        "type": "HEDGE_MARK",
        "note": "Short hedge mark: copper up, the hedge gives back what the inventory gained",
        "evidenceRef": "sha256:fb6deb117087",
        "effect": {
          "copperPrice": 0,
          "fx": 0,
          "operational": 0,
          "hedge": -2398.94,
          "haircuts": 0,
          "fees": 0,
          "flows": 0
        }
      }
    ]
  },
  "inputs": {
    "eventLogSha256": "3272b26689e1a108c24e920559b90967eba4738bb2ed7bc0a81ab04351f00ae9",
    "eventCount": 15,
    "methodology": "design document §3.7 / owner checklist xCUP Share Price Update Events (revised), with §3.8 corrections"
  },
  "issuedAt": "2026-08-18T15:00:00.000Z",
  "signer": {
    "alg": "Ed25519",
    "publicKeyPem": "-----BEGIN PUBLIC KEY-----\nMCowBQYDK2VwAyEAK3Xme4H2XZPGZphfWnUzgoaNHm9nJleg2R+U9hC0ub8=\n-----END PUBLIC KEY-----\n",
    "kind": "dev-file"
  },
  "signature": "5d6GXPF7W6xdsRBeD+qtusM3FQg0lj2TEFRCrpaiRmWLwrq8uBMZgxb9ZaeJsaj43TkKBkZzQsW0EbK1aCMmCA=="
}