{
  "schema": "alcum.attestation/1",
  "series": "SAMPLE-2026-B (hedged)",
  "network": "sepolia",
  "sample": true,
  "date": "2026-09-02",
  "valuation": {
    "nav": 254771.17,
    "units": 25000,
    "unitValue": 10.1908,
    "dealingPrice": 10.1908,
    "dealing": {
      "allocations": 0,
      "allocatedUsdc": 0,
      "unitsIssued": 0,
      "redemptions": 0,
      "unitsRetired": 0,
      "paidUsdc": 0,
      "nettedUsdc": 0,
      "netFlowUsdc": 0
    },
    "haircutWithheld": 3182.8,
    "highWaterMark": null,
    "operationalMark": null,
    "attribution": {
      "copperPrice": -2313.53,
      "fx": 0,
      "operational": 0,
      "hedge": 2208.37,
      "haircuts": 34.7,
      "fees": -10.48,
      "flows": 0
    },
    "attributionPerUnit": {
      "copperPrice": -0.092541,
      "fx": 0,
      "operational": 0,
      "hedge": 0.088335,
      "haircuts": 0.001388,
      "fees": -0.000419,
      "flows": 0
    },
    "contributions": [
      {
        "eventId": "fee-2026-09-02",
        "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": -10.48,
          "flows": 0
        }
      },
      {
        "eventId": "b8edf058-2d7b-4ed4-9249-e331b2ed2d17",
        "type": "INVENTORY_REVALUATION",
        "note": "Copper price −1.08 % since the last valuation (LME cash 14,215.01 USD/t)",
        "evidenceRef": "sha256:695a6f87f57d",
        "effect": {
          "copperPrice": -2313.53,
          "fx": 0,
          "operational": 0,
          "hedge": 0,
          "haircuts": 34.7,
          "fees": 0,
          "flows": 0
        }
      },
      {
        "eventId": "81ac653b-4e0f-4a44-ab72-b703c868845d",
        "type": "HEDGE_MARK",
        "note": "Short hedge mark: copper down, the hedge recovers most of what the inventory lost",
        "evidenceRef": "sha256:369ae403e1c6",
        "effect": {
          "copperPrice": 0,
          "fx": 0,
          "operational": 0,
          "hedge": 2208.37,
          "haircuts": 0,
          "fees": 0,
          "flows": 0
        }
      },
      {
        "eventId": "50b5457a-9c39-4202-bde0-bdc006017dcb",
        "type": "INVENTORY_REVALUATION",
        "note": "No revaluation on this day: the move against the real close stayed below the 0.25 % threshold",
        "evidenceRef": "sha256:664ea620a5cd",
        "effect": {
          "copperPrice": 0,
          "fx": 0,
          "operational": 0,
          "hedge": 0,
          "haircuts": 0,
          "fees": 0,
          "flows": 0
        }
      },
      {
        "eventId": "6361a662-220d-44c3-9bc2-3ccc7bc51966",
        "type": "HEDGE_MARK",
        "note": "Short hedge mark of the day, restated: this event and the mark submitted for the same day must carry the same absolute figure, or whichever lands last decides the hedge P&L",
        "evidenceRef": "sha256:95f0548c712a",
        "effect": {
          "copperPrice": 0,
          "fx": 0,
          "operational": 0,
          "hedge": 0,
          "haircuts": 0,
          "fees": 0,
          "flows": 0
        }
      }
    ]
  },
  "inputs": {
    "eventLogSha256": "38d7d9c9f93c6096e174c8f226dcadd8a8b686f3ec9c2aadd07dda22d8bfc218",
    "eventCount": 38,
    "methodology": "design document §3.7 / owner checklist xCUP Share Price Update Events (revised), with §3.8 corrections"
  },
  "issuedAt": "2026-09-02T15:00:00.000Z",
  "signer": {
    "alg": "Ed25519",
    "publicKeyPem": "-----BEGIN PUBLIC KEY-----\nMCowBQYDK2VwAyEAK3Xme4H2XZPGZphfWnUzgoaNHm9nJleg2R+U9hC0ub8=\n-----END PUBLIC KEY-----\n",
    "kind": "dev-file"
  },
  "signature": "QJwyUz335WvBuaQhKq5gxOG6uOR2cGu4DvZCum/xv01OuGGonGPx6DaTA8afHgesHgee3p4Rhk7j6SyrZdJABA=="
}