{
  "schema": "alcum.attestation/1",
  "series": "SAMPLE-2026-B (hedged)",
  "network": "sepolia",
  "sample": true,
  "date": "2026-08-20",
  "valuation": {
    "nav": 240585.56,
    "units": 25000,
    "unitValue": 9.6234,
    "dealingPrice": 9.6234,
    "dealing": {
      "allocations": 0,
      "allocatedUsdc": 0,
      "unitsIssued": 0,
      "redemptions": 0,
      "unitsRetired": 0,
      "paidUsdc": 0,
      "nettedUsdc": 0,
      "netFlowUsdc": 0
    },
    "haircutWithheld": 4782.75,
    "highWaterMark": null,
    "operationalMark": null,
    "attribution": {
      "copperPrice": -2617.05,
      "fx": 0,
      "operational": 0,
      "hedge": 2498.09,
      "haircuts": 65.43,
      "fees": -9.89,
      "flows": 0
    },
    "attributionPerUnit": {
      "copperPrice": -0.104682,
      "fx": 0,
      "operational": 0,
      "hedge": 0.099924,
      "haircuts": 0.002617,
      "fees": -0.000396,
      "flows": 0
    },
    "contributions": [
      {
        "eventId": "fee-2026-08-20",
        "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": -9.89,
          "flows": 0
        }
      },
      {
        "eventId": "e2dfa05a-8b8d-44d9-98b1-31891066fbac",
        "type": "INVENTORY_REVALUATION",
        "note": "Copper price −1.35 % since the last valuation (LME cash 13,890.00 USD/t)",
        "evidenceRef": "sha256:4ecf82ca0812",
        "effect": {
          "copperPrice": -2617.05,
          "fx": 0,
          "operational": 0,
          "hedge": 0,
          "haircuts": 65.43,
          "fees": 0,
          "flows": 0
        }
      },
      {
        "eventId": "d6d870af-c46c-4e01-9539-241c63a0dadd",
        "type": "HEDGE_MARK",
        "note": "Short hedge mark: copper down, the hedge recovers most of what the inventory lost",
        "evidenceRef": "sha256:d46cb7d085f3",
        "effect": {
          "copperPrice": 0,
          "fx": 0,
          "operational": 0,
          "hedge": 2498.09,
          "haircuts": 0,
          "fees": 0,
          "flows": 0
        }
      }
    ]
  },
  "inputs": {
    "eventLogSha256": "e58bd8abf892fff56d9b139e0a941ba34ae63f782e24b6dcefddb7a26c167306",
    "eventCount": 20,
    "methodology": "design document §3.7 / owner checklist xCUP Share Price Update Events (revised), with §3.8 corrections"
  },
  "issuedAt": "2026-08-20T15:00:00.000Z",
  "signer": {
    "alg": "Ed25519",
    "publicKeyPem": "-----BEGIN PUBLIC KEY-----\nMCowBQYDK2VwAyEAK3Xme4H2XZPGZphfWnUzgoaNHm9nJleg2R+U9hC0ub8=\n-----END PUBLIC KEY-----\n",
    "kind": "dev-file"
  },
  "signature": "KoJZHe56bwQgmO/pjgGB7gXosl7DY7Y8qP6ja4Lqpv1nEQreyPci5EOs2Tdf4Xod2abveDUGWNKKJqraOQ2IDw=="
}