// pcp-1 · draft standard

A portfolio token that carries its own proofs. Any wallet or app onchain can ask it: is your NAV right, are you following your rules, what do you lose in a crash, who runs you — and get a verified answer without seeing a single position.

Query a portfolio

$ pcp nocturne
Attestation {
  navPerShare: 1.595058
  epoch: 540
  lastProofAt: 1790629200
  stale: false
  mandateHash: 0x890541adee037147…
  worstStressLossBps: 1900 /* 19.00% */
  riskFresh: true
  hasTrackRecord: false
}

// collateral price
1.212244 USDC/share (haircut 24.0%)

// not in the response: holdings · weights · trades · timing · manager wallet

Private, yet composable

Until now a portfolio was either public (and copyable) or private (and useless to DeFi). A proof-carrying portfolio is both private and usable as collateral, in indexes, or in structured products.

Risk you can price without seeing

Stress tests are proven against the sealed state each epoch. Lenders size haircuts from proven worst-case losses, not from trust.

Talent → capital, verifiably

A vault can only be launched from a verified Proof of Alpha. The track record is bound to the vault forever.

* Performance figures are simulated — not a real track record and not investment advice.

Stress results disclose coarse aggregate risk by design — scenarios are few and coarse to limit what can be inferred about holdings.