{
  "schema": "alcum.attestation/1",
  "series": "SAMPLE-2026-B (hedged)",
  "network": "sepolia",
  "sample": true,
  "date": "2026-08-31",
  "valuation": {
    "nav": 236552.36,
    "units": 25000,
    "unitValue": 9.4621,
    "dealingPrice": 9.4621,
    "dealing": {
      "allocations": 0,
      "allocatedUsdc": 0,
      "unitsIssued": 0,
      "redemptions": 0,
      "unitsRetired": 0,
      "paidUsdc": 0,
      "nettedUsdc": 0,
      "netFlowUsdc": 0
    },
    "haircutWithheld": 4948.03,
    "highWaterMark": null,
    "operationalMark": null,
    "attribution": {
      "copperPrice": 1845.47,
      "fx": 0,
      "operational": 0,
      "hedge": -1761.58,
      "haircuts": -46.14,
      "fees": -9.73,
      "flows": 0
    },
    "attributionPerUnit": {
      "copperPrice": 0.073819,
      "fx": 0,
      "operational": 0,
      "hedge": -0.070463,
      "haircuts": -0.001845,
      "fees": -0.000389,
      "flows": 0
    },
    "contributions": [
      {
        "eventId": "fee-2026-08-31",
        "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": "339f6b43-ec66-48b5-ac0d-b1daca10ad68",
        "type": "INVENTORY_REVALUATION",
        "note": "Copper price +0.94 % since the last valuation (LME cash 14,370.00 USD/t)",
        "evidenceRef": "sha256:04b0ac57b6aa",
        "effect": {
          "copperPrice": 1845.47,
          "fx": 0,
          "operational": 0,
          "hedge": 0,
          "haircuts": -46.14,
          "fees": 0,
          "flows": 0
        }
      },
      {
        "eventId": "a03a5acd-8600-4784-9451-dc0802b8b818",
        "type": "HEDGE_MARK",
        "note": "Short hedge mark: copper up, the hedge gives back what the inventory gained",
        "evidenceRef": "sha256:14f206fc528a",
        "effect": {
          "copperPrice": 0,
          "fx": 0,
          "operational": 0,
          "hedge": -1761.58,
          "haircuts": 0,
          "fees": 0,
          "flows": 0
        }
      }
    ]
  },
  "inputs": {
    "eventLogSha256": "4a0e67768d6474fdfa8919d3efbba83b7eebe7840cf560b23e9f9a259e32cb08",
    "eventCount": 33,
    "methodology": "design document §3.7 / owner checklist xCUP Share Price Update Events (revised), with §3.8 corrections"
  },
  "issuedAt": "2026-08-31T15:00:00.000Z",
  "signer": {
    "alg": "Ed25519",
    "publicKeyPem": "-----BEGIN PUBLIC KEY-----\nMCowBQYDK2VwAyEAK3Xme4H2XZPGZphfWnUzgoaNHm9nJleg2R+U9hC0ub8=\n-----END PUBLIC KEY-----\n",
    "kind": "dev-file"
  },
  "signature": "U7b0YFPgAUPQI9ZjFFCUzH7bG9xWfwobBp93LhRedI9ys2G2yIXOgpbTVer2vtjS0m+im4SNN7nYPDnk6he7Ag=="
}