{
  "schema": "alcum.attestation/1",
  "series": "SAMPLE-2026-B (hedged)",
  "network": "sepolia",
  "sample": true,
  "date": "2026-08-28",
  "valuation": {
    "nav": 236524.34,
    "units": 25000,
    "unitValue": 9.461,
    "dealingPrice": 9.461,
    "dealing": {
      "allocations": 0,
      "allocatedUsdc": 0,
      "unitsIssued": 0,
      "redemptions": 0,
      "unitsRetired": 0,
      "paidUsdc": 0,
      "nettedUsdc": 0,
      "netFlowUsdc": 0
    },
    "haircutWithheld": 4901.89,
    "highWaterMark": null,
    "operationalMark": null,
    "attribution": {
      "copperPrice": -853.8,
      "fx": 0,
      "operational": 0,
      "hedge": 814.99,
      "haircuts": 21.35,
      "fees": -9.73,
      "flows": 0
    },
    "attributionPerUnit": {
      "copperPrice": -0.034152,
      "fx": 0,
      "operational": 0,
      "hedge": 0.0326,
      "haircuts": 0.000854,
      "fees": -0.000389,
      "flows": 0
    },
    "contributions": [
      {
        "eventId": "fee-2026-08-28",
        "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": -9.73,
          "flows": 0
        }
      },
      {
        "eventId": "eb086c20-7d14-44c8-b342-9ac0ae6323ed",
        "type": "INVENTORY_REVALUATION",
        "note": "Copper price −0.43 % since the last valuation (LME cash 14,236.01 USD/t)",
        "evidenceRef": "sha256:1e7e1764b400",
        "effect": {
          "copperPrice": -853.8,
          "fx": 0,
          "operational": 0,
          "hedge": 0,
          "haircuts": 21.35,
          "fees": 0,
          "flows": 0
        }
      },
      {
        "eventId": "c8ee682a-8815-4746-9f5a-68edd2b46f3a",
        "type": "HEDGE_MARK",
        "note": "Short hedge mark: copper down, the hedge recovers most of what the inventory lost",
        "evidenceRef": "sha256:d319ef5fb788",
        "effect": {
          "copperPrice": 0,
          "fx": 0,
          "operational": 0,
          "hedge": 814.99,
          "haircuts": 0,
          "fees": 0,
          "flows": 0
        }
      }
    ]
  },
  "inputs": {
    "eventLogSha256": "5ae05821d6e3eec66e3fd5d4bbaef7585dc7da700a46549623edb6474e6a8451",
    "eventCount": 31,
    "methodology": "design document §3.7 / owner checklist xCUP Share Price Update Events (revised), with §3.8 corrections"
  },
  "issuedAt": "2026-08-28T15:00:00.000Z",
  "signer": {
    "alg": "Ed25519",
    "publicKeyPem": "-----BEGIN PUBLIC KEY-----\nMCowBQYDK2VwAyEAK3Xme4H2XZPGZphfWnUzgoaNHm9nJleg2R+U9hC0ub8=\n-----END PUBLIC KEY-----\n",
    "kind": "dev-file"
  },
  "signature": "Nct6wAYUowhqJvy+SRWqRmKLy6m6jdC7iiGoEjNbv6hhwAPI4q00IQYHkTfbvVNCZPv43K7MLXC8hqohM30GAQ=="
}