{
  "document": "USDMD proof-of-reserves statement",
  "network": "Midas Chain testnet 64327",
  "epoch": 1,
  "kind": "bootstrap",
  "date_utc": "2026-09-27",
  "testnet_notice": "Testnet. MockXAU is not gold and test USDMD has no value.",
  "onchain_reserve": {
    "reserve_manager": "0xa0A2896c1ae3139752e67DeC9172964b3D37133a",
    "assets": [
      {"token": "0xd47F0EcD6f53bA48524c6C2E454aE716bC6174D5", "name": "MockXAU (XAU-MOCK), testnet, not gold", "note": "5 troy oz deposited by the treasury as the overcollateral buffer before this epoch; mints nothing"},
      {"token": "0x0Da5029c9567dAa3926d5754146F59606007026a", "name": "Bridged Paxos testnet PAXG", "note": "listed, empty: Paxos's public faucet does not dispense PAXG"}
    ],
    "valuation": "The ProofOfReserves contract reads supply and the on-chain reserve itself at publish time; this document does not state them."
  },
  "offchain_lines": {
    "custodian_gold_value": 0,
    "hedge_value": 0,
    "buffer_value_offchain": 0,
    "hedge": {
      "instrument": "PACTOL:PAXG-PERP",
      "status": "not opened yet: the hedge keeper starts in milestone M3",
      "account": null,
      "notional": 0
    }
  },
  "prices_at_bootstrap": {
    "pactol:PAXG": "median of Binance and OKX PAXG/USDT mids, 4280.40",
    "pactol:XAUT": "median of OKX and Bybit XAUT/USDT mids, 4281.50",
    "pyth:XAU/USD": "not pushed: Pyth's price API now requires a key; a keyless spot source is added in M3"
  },
  "publisher": "usdmd-por-publisher 0x48fFe165c39a4ACe3094fAF6a94528d656e524D8",
  "hashing": "docsRoot is the SHA-256 of this file's bytes (a Merkle tree of one leaf)."
}