{"artifact":"kerne_million_dollar_round_trip","artifact_version":"1","attested_at":"2026-08-24T19:24:42Z","calls":"7","cap_usdc_raw":"10000000000000","chain_id":"8453","depositor":"0xa72F3e0ddb8Fbdf4594cdc614528d95Ea46f2Eb9","depositor_derivation":"cast wallet address --private-key $(cast keccak \"kerne round trip depositor\")","executed_against":"foundry fork of Base mainnet against deployed bytecode. no mainnet transaction was sent","exit_ceiling_live_usdc_raw":"30000000","exit_ceiling_retired_usdc_raw":"995003000","exit_ceiling_system_usdc_raw":"995003000","exit_ceiling_v1_usdc_raw":"85885006","fee_ledger_delta_usdc_raw":"1199649999","fee_ledger_undercount_usdc_raw":"1","headroom_before_usdc_raw":"9999970000000","is_mainnet_execution":"false","kusd":"0x5C2EfdF0D8D286959b42308966bc2B97f5680AA3","kusd_supply_after_raw":"1144707154000000000001","kusd_supply_before_raw":"1144707154000000000000","kusd_supply_delta_raw":"1","leg1_deposit_usdc_raw":"1000000000000","leg1_kusd_received_raw":"999500000000000000000000","leg1_mint_fee_usdc_raw":"500000000","leg2_skusd_shares_raw":"999401391292319953981121958162","leg3_kusd_returned_raw":"999499999999999999999999","leg4_redeem_fee_kusd_raw":"699649999999999999999","leg4_usdc_returned_raw":"998800350000","liquidity_claim":"none. the redeem leg closes at this size only because the mint immediately before it is what funds the reserve","mint_module":"0xaBDE1138aa1Ce88d1dF06422C0c3b05D70569803","module_kusd_held_after_raw":"0","no_reserve_redeem_revert":"InsufficientStableReserves() 0x49d5a855","pinned_block":"50400000","pinned_block_utc":"2026-08-24T16:35:47Z","reproduce":"BASE_RPC_URL=https://mainnet.base.org forge test --match-path 'test/fork/MillionDollarRoundTrip.t.sol' -vv","reserves_pool":"false","reserves_total_usdc_raw":"1110888006","retired_module":"0x07eBb486e11BD217e6085eb5ab663e4517595993","retired_module_max_exit_kusd_raw":"995998999999999999998","round_trip_cost_bps":"11.9965","round_trip_cost_usdc_raw":"1199650000","signing_scheme":"attestation_hash = sha256 of the canonical JSON below (sorted keys, compact separators). signature = EIP-191 personal_sign over that hash by the same account that signs the Proof of Reserves archive","skusd":"0x96F5102C15b839757f811A98CEc3725Ac21DfA14","test_commit":"77dfa748c2be2dc7db0da8adbf35959d727b041c","test_file":"test/fork/MillionDollarRoundTrip.t.sol","test_repo":"https://github.com/kerne-protocol/contracts-public","tests":"8","usdc":"0x833589fCD6eDb6E08f4c7C32D4f71b54bdA02913","v1_module":"0xFf3025ec18e301855aB0f36Ec6ECa115a29A5Fbc","attestation_hash":"0xda897374f22442efe7fcd861c3b8ead906bd581bc73824fe897ab26a30669d5f","signature":"0x50f21696cf3f2210a60d4ef4c92b24c7e20447373430ffc4b329be1d3da93388068942f135e89f0e0ebc2b262fa83326632d07275a5cc7d782f5ae395d36a98b1c","signer":"0x09a2780ac8Be6D5d2d1F85A8D92b09D40C9CA37e","signed_payload_canonical":"{\"artifact\":\"kerne_million_dollar_round_trip\",\"artifact_version\":\"1\",\"attested_at\":\"2026-08-24T19:24:42Z\",\"calls\":\"7\",\"cap_usdc_raw\":\"10000000000000\",\"chain_id\":\"8453\",\"depositor\":\"0xa72F3e0ddb8Fbdf4594cdc614528d95Ea46f2Eb9\",\"depositor_derivation\":\"cast wallet address --private-key $(cast keccak \\\"kerne round trip depositor\\\")\",\"executed_against\":\"foundry fork of Base mainnet against deployed bytecode. no mainnet transaction was sent\",\"exit_ceiling_live_usdc_raw\":\"30000000\",\"exit_ceiling_retired_usdc_raw\":\"995003000\",\"exit_ceiling_system_usdc_raw\":\"995003000\",\"exit_ceiling_v1_usdc_raw\":\"85885006\",\"fee_ledger_delta_usdc_raw\":\"1199649999\",\"fee_ledger_undercount_usdc_raw\":\"1\",\"headroom_before_usdc_raw\":\"9999970000000\",\"is_mainnet_execution\":\"false\",\"kusd\":\"0x5C2EfdF0D8D286959b42308966bc2B97f5680AA3\",\"kusd_supply_after_raw\":\"1144707154000000000001\",\"kusd_supply_before_raw\":\"1144707154000000000000\",\"kusd_supply_delta_raw\":\"1\",\"leg1_deposit_usdc_raw\":\"1000000000000\",\"leg1_kusd_received_raw\":\"999500000000000000000000\",\"leg1_mint_fee_usdc_raw\":\"500000000\",\"leg2_skusd_shares_raw\":\"999401391292319953981121958162\",\"leg3_kusd_returned_raw\":\"999499999999999999999999\",\"leg4_redeem_fee_kusd_raw\":\"699649999999999999999\",\"leg4_usdc_returned_raw\":\"998800350000\",\"liquidity_claim\":\"none. the redeem leg closes at this size only because the mint immediately before it is what funds the reserve\",\"mint_module\":\"0xaBDE1138aa1Ce88d1dF06422C0c3b05D70569803\",\"module_kusd_held_after_raw\":\"0\",\"no_reserve_redeem_revert\":\"InsufficientStableReserves() 0x49d5a855\",\"pinned_block\":\"50400000\",\"pinned_block_utc\":\"2026-08-24T16:35:47Z\",\"reproduce\":\"BASE_RPC_URL=https://mainnet.base.org forge test --match-path 'test/fork/MillionDollarRoundTrip.t.sol' -vv\",\"reserves_pool\":\"false\",\"reserves_total_usdc_raw\":\"1110888006\",\"retired_module\":\"0x07eBb486e11BD217e6085eb5ab663e4517595993\",\"retired_module_max_exit_kusd_raw\":\"995998999999999999998\",\"round_trip_cost_bps\":\"11.9965\",\"round_trip_cost_usdc_raw\":\"1199650000\",\"signing_scheme\":\"attestation_hash = sha256 of the canonical JSON below (sorted keys, compact separators). signature = EIP-191 personal_sign over that hash by the same account that signs the Proof of Reserves archive\",\"skusd\":\"0x96F5102C15b839757f811A98CEc3725Ac21DfA14\",\"test_commit\":\"77dfa748c2be2dc7db0da8adbf35959d727b041c\",\"test_file\":\"test/fork/MillionDollarRoundTrip.t.sol\",\"test_repo\":\"https://github.com/kerne-protocol/contracts-public\",\"tests\":\"8\",\"usdc\":\"0x833589fCD6eDb6E08f4c7C32D4f71b54bdA02913\",\"v1_module\":\"0xFf3025ec18e301855aB0f36Ec6ECa115a29A5Fbc\"}","verify":"python - <<EOF\nimport json,hashlib,urllib.request\nfrom eth_account import Account\nfrom eth_account.messages import encode_defunct\nd=json.load(urllib.request.urlopen(\"https://kerne.fi/round-trip.json\"))\nh=\"0x\"+hashlib.sha256(d[\"signed_payload_canonical\"].encode()).hexdigest()\nassert h==d[\"attestation_hash\"]\nprint(Account.recover_message(encode_defunct(hexstr=h),signature=d[\"signature\"]))\nEOF","canonical_wins":"signed_payload_canonical is the signed artifact. The sibling keys are a parsed rendering of the same bytes and carry no independent authority.","signer_is_not_a_third_party":"The signer is Kerne. It is the same account that signs the Proof of Reserves archive, which is what makes one verification command cover both, and it is not an independent attestation. The independent part is the test: it runs against deployed bytecode on a fork anyone can reproduce.","not_a_liquidity_claim":"This attests that the mechanism completes a one million dollar cycle on a fork of Base. It does not attest that one million dollars can be redeemed from Kerne today. At the pinned block the largest single redemption available anywhere in the system is 995.003000 USDC, and the round trip closes only because the mint immediately before it funds the reserve. Both directions are asserted in the test.","human_readable":"https://kerne.fi/round-trip"}