{
  "generated_at": "2026-07-03T12:04:28.369695+00:00",
  "unix_timestamp": 1783080268,
  "block_heights": {
    "base": 48145461
  },
  "chains": [
    {
      "chain_id": 8453,
      "chain_name": "Base Mainnet",
      "vault_address": "0x8005bc7A86AD904C20fd62788ABED7546c1cF2AC",
      "total_assets_wei": 50371034900173936,
      "total_assets_eth": 0.05037103490017394,
      "total_supply_wei": 4874515519514120218728830628937904000,
      "total_supply_eth": 4874515519514120.0,
      "solvency_ratio": 1.033354693374631e-17,
      "rpc_healthy": true,
      "timestamp": 1783080269,
      "eth_exposed_eth": 0.00614218220445648
    }
  ],
  "total_onchain_assets_eth": 0.05037103,
  "total_onchain_liabilities_eth": 4874515519514120.0,
  "offchain_venue": "Hyperliquid",
  "offchain_equity_usd": 76.5,
  "offchain_equity_eth_equiv": 0.02318139,
  "offchain_net_delta": 0.006868,
  "offchain_short_position_eth": 0.0061,
  "total_assets_eth": 0.05037103,
  "total_liabilities_eth": 4874515519514120.0,
  "aggregate_solvency_ratio": 1.001001,
  "is_solvent": true,
  "delta_neutral": true,
  "attestation_hash": "0xa0122a6a9d3800acdf1072e6b4b3683932c2122ce4fe19967ae4d8fd9c87867c",
  "signature": "0x367d280f76853afc9590e56cf4b7d7cc7eabd79366ca9f7ce3cbcbb74b8582be2050cbff12af876aa998ac9c70df27479798cb21e72efa5cc85612a26a7860b71b",
  "signer": "0x09a2780ac8Be6D5d2d1F85A8D92b09D40C9CA37e",
  "status": "PSM_SOLVENT_VAULT_V1_DEGRADED_KNOWN",
  "signed_payload_canonical": "{\"aggregate_collateral_usd\":205.6,\"aggregate_liabilities_usd\":117.74,\"aggregate_solvency_ratio\":1.001001,\"aggregate_solvency_ratio_basis\":\"psm_usdc_reserve / outstanding_kusd (kUSD stablecoin backing). The pre-v4 vault-share basis is published unchanged in legacy_vault_share_solvency_ratio; see known_issue_vault_v1.\",\"aggregate_solvency_usd_ratio\":1.746295,\"chains\":[{\"chain_id\":8453,\"chain_name\":\"Base Mainnet\",\"eth_exposed_eth\":0.00614218220445648,\"rpc_healthy\":true,\"solvency_ratio\":1.033354693374631e-17,\"timestamp\":1783080269,\"total_assets_eth\":0.05037103490017394,\"total_assets_wei\":50371034900173936,\"total_supply_eth\":4874515519514120.0,\"total_supply_wei\":4874515519514120218728830628937904000,\"vault_address\":\"0x8005bc7A86AD904C20fd62788ABED7546c1cF2AC\"}],\"eth_price_usd\":1742.02,\"insurance_fund_usd\":0.0,\"insurance_fund_usdc\":0.0,\"insurance_fund_weth\":0.0,\"is_solvent_resolved\":true,\"kusd_total_supply\":117.735154,\"legacy_vault_share_solvency_ratio\":0.0,\"offchain\":{\"available\":true,\"equity_eth_equiv\":0.02318138515151515,\"equity_usd\":76.498571,\"net_delta\":0.006867625064244098,\"short_position_eth\":0.0061,\"venue\":\"Hyperliquid\"},\"outstanding_kusd\":117.735154,\"psm_kusd_held\":0.0,\"psm_reads_available\":true,\"psm_solvency_ratio\":1.001001,\"psm_solvent\":true,\"psm_usdc_reserve\":117.853006,\"safe_usd\":0.0,\"safe_usdc\":0.0,\"safe_weth\":0.0,\"schema_version\":4,\"solvency_ratio\":0.0,\"status\":\"PSM_SOLVENT_VAULT_V1_DEGRADED_KNOWN\",\"timestamp\":1783080268,\"total_assets_eth\":0.05037103,\"total_liabilities_eth\":4874515519514120.0,\"treasury_usd\":0.0,\"treasury_usdc\":0.0,\"treasury_weth\":0.0,\"vault_v1_degraded_known\":true}",
  "vault_v1_degraded_known": true,
  "psm_reads_available": true,
  "kusd_total_supply": 117.735154,
  "psm_usdc_reserve": 117.853006,
  "psm_kusd_held": 0.0,
  "outstanding_kusd": 117.735154,
  "psm_solvent": true,
  "psm_solvency_ratio": 1.001001,
  "insurance_fund_usdc": 0.0,
  "insurance_fund_weth": 0.0,
  "insurance_fund_usd": 0.0,
  "treasury_usdc": 0.0,
  "treasury_weth": 0.0,
  "treasury_usd": 0.0,
  "safe_usdc": 0.0,
  "safe_weth": 0.0,
  "safe_usd": 0.0,
  "aggregate_collateral_usd": 205.6,
  "aggregate_liabilities_usd": 117.74,
  "aggregate_solvency_usd_ratio": 1.746295,
  "eth_price_usd": 1742.02,
  "aggregate_solvency_ratio_basis": "psm_usdc_reserve / outstanding_kusd (kUSD stablecoin backing). The pre-v4 vault-share basis is published unchanged in legacy_vault_share_solvency_ratio; see known_issue_vault_v1.",
  "legacy_vault_share_solvency_ratio": 0.0,
  "known_issue_vault_v1": {
    "issue": "VAULT_V1_PHANTOM_TOTAL_SUPPLY",
    "legacy_vault_share_solvency_ratio": 1.033354693374631e-17,
    "vault_total_assets_eth": 0.05037103,
    "vault_total_supply_asset_units": 4874515519514120.0,
    "explanation": "KerneVault v1 (0x8005bc7A86AD904C20fd62788ABED7546c1cF2AC) carries a phantom totalSupply (~4.87e36 kLP) from the bucket-transition asymmetry documented in ADVERSARIAL_AUDIT_2026-05-08 \u00a71.3. This share-basis ratio is a known artifact of that state, not a live solvency failure: vault deposits are paused and kUSD is 1:1 USDC-backed via the PSM. Read aggregate_solvency_ratio, psm_solvent and aggregate_solvency_usd_ratio for actual solvency. The vault v2 redeploy retires this entry."
  },
  "notes": [
    "KerneVault v1 (0x8005bc7A86AD904C20fd62788ABED7546c1cF2AC) has a known phantom totalSupply from the bucket-transition asymmetry documented in ADVERSARIAL_AUDIT_2026-05-08 \u00a71.3. The share-basis fields (legacy_vault_share_solvency_ratio, total_liabilities_eth, chains[].solvency_ratio) read near-zero because of this; see known_issue_vault_v1. The real protocol solvency is the headline aggregate_solvency_ratio (PSM 1:1 USDC backing) and the USD-aggregate view: vault deposits are paused, kUSD-stablecoin liabilities are over-collateralized in USD terms. Vault v2 redeploy retires this state."
  ],
  "schema_version": 4
}