{
  "approval_ledger": "{\n  \"version\": \"touchstone.approval-ledger.v2\",\n  \"note\": \"Every control this project evaluates is here, and nothing else. Each entry names a candidate a model proposed from the issuer's own bytes and the compilation artifact it was accepted in; the control itself is read from that artifact, so this file can only point at a control, never restate one. Approval changes exactly two fields: approval_state and compilation_sha256. Declined entries are candidates that passed every deterministic gate and a human still did not approve \\u2014 recorded because a control set that silently omits them cannot be audited for why. As of version 2, every entry also carries the approver's EIP-712 signature over the exact proposal it decides, so the identity behind each decision is recoverable by anyone holding these bytes; the signatures were created 2026-08-19 and say so, because a signature dated to the decision it attests would be manufactured history.\",\n  \"approved\": [\n    {\n      \"control_id\": \"ustb-holdings-as-of-date-present\",\n      \"compilation_sha256\": \"fad12109e3ec919ec87d923ee628392f3b64c91269711b5626a5b8239843afc3\",\n      \"approved_on\": \"2026-08-18\",\n      \"approval\": {\n        \"compilation_digest\": \"fad12109e3ec919ec87d923ee628392f3b64c91269711b5626a5b8239843afc3\",\n        \"decision\": \"approved\",\n        \"control_digest\": \"e64ef76d0dc0ffeb35fd2f59862173ec9a418a07e831511a7c7b80520306beeb\",\n        \"reason_code\": \"operator-approved\",\n        \"timestamp\": 1787163880,\n        \"version\": 2,\n        \"approver\": \"0x537873b087654395CB0A487B50d0bFBe15fA16Bc\",\n        \"scope\": \"global\",\n        \"policy_id\": \"\",\n        \"signature\": \"ff6626e94e21a0e2c154a7263be457376972320aaf1fbc4a3f4e2e9116d1d7637873c7d38cdbcc144240aca086adf8c01d963682071865d13cb2efcc8c8818671c\"\n      }\n    },\n    {\n      \"control_id\": \"ustb-nav-daily-freshness\",\n      \"compilation_sha256\": \"db4eebc0e7a795eec7d835dfc4ccd939b87dd3a86d4c4e30a8b1c028bebb4bba\",\n      \"approved_on\": \"2026-08-18\",\n      \"approval\": {\n        \"compilation_digest\": \"db4eebc0e7a795eec7d835dfc4ccd939b87dd3a86d4c4e30a8b1c028bebb4bba\",\n        \"decision\": \"approved\",\n        \"control_digest\": \"2cca37761843b549087e85186efe6f17f6f360a112442d8225fe1127ffee3f8c\",\n        \"reason_code\": \"operator-approved\",\n        \"timestamp\": 1787163880,\n        \"version\": 2,\n        \"approver\": \"0x537873b087654395CB0A487B50d0bFBe15fA16Bc\",\n        \"scope\": \"global\",\n        \"policy_id\": \"\",\n        \"signature\": \"cb9bed6c33dbecc49a71c48ef4028ff37de48ea877045c8d71fd7013c0e5b99c5032d7c5dc8fc84814f0e8e6f42deadc2734491c3a6f85fe5688e62335a6c0d51b\"\n      }\n    },\n    {\n      \"control_id\": \"ustb-nav-per-share-present\",\n      \"compilation_sha256\": \"db4eebc0e7a795eec7d835dfc4ccd939b87dd3a86d4c4e30a8b1c028bebb4bba\",\n      \"approved_on\": \"2026-08-18\",\n      \"approval\": {\n        \"compilation_digest\": \"db4eebc0e7a795eec7d835dfc4ccd939b87dd3a86d4c4e30a8b1c028bebb4bba\",\n        \"decision\": \"approved\",\n        \"control_digest\": \"4b8bf0dfccba3fe20213a94c83bf61a65e2471022f828b884fd888fce5c939ff\",\n        \"reason_code\": \"operator-approved\",\n        \"timestamp\": 1787163880,\n        \"version\": 2,\n        \"approver\": \"0x537873b087654395CB0A487B50d0bFBe15fA16Bc\",\n        \"scope\": \"global\",\n        \"policy_id\": \"\",\n        \"signature\": \"2a79290985c3489a14ae659852323532188b0e7a59c08b05c16da1eb94c602b17ec5dcf9d298ff12a84a84f9097a2b99e887e52b5a6a22aef3bb07e66df107221b\"\n      }\n    },\n    {\n      \"control_id\": \"ustb-yield-as-of-date-fresh\",\n      \"compilation_sha256\": \"669c276109b9b6e07b7e6674e5f0ee4fa45d79b7987656c28c3919a2f13eaea6\",\n      \"approved_on\": \"2026-08-18\",\n      \"approval\": {\n        \"compilation_digest\": \"669c276109b9b6e07b7e6674e5f0ee4fa45d79b7987656c28c3919a2f13eaea6\",\n        \"decision\": \"approved\",\n        \"control_digest\": \"5184eb0d6b487a156ffc46d77bfc3deb3a6af5dbffc3e8c2c94addd122d1a9ac\",\n        \"reason_code\": \"operator-approved\",\n        \"timestamp\": 1787163880,\n        \"version\": 2,\n        \"approver\": \"0x537873b087654395CB0A487B50d0bFBe15fA16Bc\",\n        \"scope\": \"global\",\n        \"policy_id\": \"\",\n        \"signature\": \"c46f23d471461014278e37923b14377372bfddf1707e4f9098bcb7435a393f9217348d62caca58d00b3d1fc8804b008077f79d8fdf2e28d190f2c73be8d90c6a1c\"\n      }\n    },\n    {\n      \"control_id\": \"ustb-yield-one-day-present\",\n      \"compilation_sha256\": \"669c276109b9b6e07b7e6674e5f0ee4fa45d79b7987656c28c3919a2f13eaea6\",\n      \"approved_on\": \"2026-08-18\",\n      \"approval\": {\n        \"compilation_digest\": \"669c276109b9b6e07b7e6674e5f0ee4fa45d79b7987656c28c3919a2f13eaea6\",\n        \"decision\": \"approved\",\n        \"control_digest\": \"02ec4f3c059ae5ad4ccea1cbe1cc8fd65b14643be9d79bb4d10e9a0a31ead68a\",\n        \"reason_code\": \"operator-approved\",\n        \"timestamp\": 1787163880,\n        \"version\": 2,\n        \"approver\": \"0x537873b087654395CB0A487B50d0bFBe15fA16Bc\",\n        \"scope\": \"global\",\n        \"policy_id\": \"\",\n        \"signature\": \"3ac50d63308283426c7c5c2d4494495329d1c5dfa1d392d1621151ad433f59bd3a5a4a34427df0f74aa0d647ee96ae2d76007b29c470692a2b18d9643eeb8cd41b\"\n      }\n    },\n    {\n      \"control_id\": \"fobxx-nav-std-stable-one\",\n      \"compilation_sha256\": \"79ab4291337ef8d41944a7c496ee0c636798553fe7e8e4c449de84581a1c457f\",\n      \"approved_on\": \"2026-08-22\",\n      \"approval\": {\n        \"version\": 2,\n        \"control_digest\": \"bb0bc8a265892fe05d1d982b016639974e2c0c6563a2ab76684e8009d370b004\",\n        \"compilation_digest\": \"79ab4291337ef8d41944a7c496ee0c636798553fe7e8e4c449de84581a1c457f\",\n        \"decision\": \"approved\",\n        \"reason_code\": \"operator-approved\",\n        \"timestamp\": 1787373881,\n        \"scope\": \"global\",\n        \"policy_id\": \"\",\n        \"approver\": \"0x537873b087654395CB0A487B50d0bFBe15fA16Bc\",\n        \"signature\": \"92b812f585260b7c1b817adaaa36f551d94807bcc19f20ae1c85eb2fd19c93df57fcfb9413a66d4ebe3952c7b628ab9b03e7156a67f3b21e5bf09c24cb9f788b1c\"\n      }\n    },\n    {\n      \"control_id\": \"fobxx-nmfp3-stable-price-one\",\n      \"compilation_sha256\": \"df764467f3e3df3a67e45f4c9692a4d5f164a73ea622763a66397d3c46c9c91a\",\n      \"approved_on\": \"2026-08-22\",\n      \"approval\": {\n        \"version\": 2,\n        \"control_digest\": \"4163cd28911dac0485a0aae079ff162b966df87f2cfda6d3ee3d7e55b67f6971\",\n        \"compilation_digest\": \"df764467f3e3df3a67e45f4c9692a4d5f164a73ea622763a66397d3c46c9c91a\",\n        \"decision\": \"approved\",\n        \"reason_code\": \"operator-approved\",\n        \"timestamp\": 1787373881,\n        \"scope\": \"global\",\n        \"policy_id\": \"\",\n        \"approver\": \"0x537873b087654395CB0A487B50d0bFBe15fA16Bc\",\n        \"signature\": \"e5a4ea38755b6d70ec1b1c5e08ed06860d185683df0f2731455425d730a4b12a5c5fd595d854f2f02d661698ec3e2a7a70253e06dd099e08b87e38aefa0a3b1c1b\"\n      }\n    },\n    {\n      \"control_id\": \"fobxx-nmfp3-daily-liquid-floor\",\n      \"compilation_sha256\": \"df764467f3e3df3a67e45f4c9692a4d5f164a73ea622763a66397d3c46c9c91a\",\n      \"approved_on\": \"2026-08-22\",\n      \"approval\": {\n        \"version\": 2,\n        \"control_digest\": \"89dd203e2569291325f11f298ff65cd42998b78e0048562d598de18b007088e6\",\n        \"compilation_digest\": \"df764467f3e3df3a67e45f4c9692a4d5f164a73ea622763a66397d3c46c9c91a\",\n        \"decision\": \"approved\",\n        \"reason_code\": \"operator-approved\",\n        \"timestamp\": 1787373881,\n        \"scope\": \"global\",\n        \"policy_id\": \"\",\n        \"approver\": \"0x537873b087654395CB0A487B50d0bFBe15fA16Bc\",\n        \"signature\": \"c6ae1bcdb68c423d3315988d0a5b92e4a7848c665c8d3c79f446446547e67f9707eb204ec1adcf764ad6708032d76a834959027b4212323a38633d84c131301d1b\"\n      }\n    },\n    {\n      \"control_id\": \"fobxx-nmfp3-weekly-liquid-floor\",\n      \"compilation_sha256\": \"df764467f3e3df3a67e45f4c9692a4d5f164a73ea622763a66397d3c46c9c91a\",\n      \"approved_on\": \"2026-08-22\",\n      \"approval\": {\n        \"version\": 2,\n        \"control_digest\": \"5dddf2cb51f50be3cf03cbf6a8e99ec805858b218757ee0a06970c88227f2dc8\",\n        \"compilation_digest\": \"df764467f3e3df3a67e45f4c9692a4d5f164a73ea622763a66397d3c46c9c91a\",\n        \"decision\": \"approved\",\n        \"reason_code\": \"operator-approved\",\n        \"timestamp\": 1787373881,\n        \"scope\": \"global\",\n        \"policy_id\": \"\",\n        \"approver\": \"0x537873b087654395CB0A487B50d0bFBe15fA16Bc\",\n        \"signature\": \"cb4aa060d132a7f13e9de146ec4073e74853d028838a82f66833c87ef901c73a17dbddd418861337b6a52e1f69a07bdc244d6a0bcb6cc0a3eae1ca835a8f49cc1b\"\n      }\n    }\n  ],\n  \"declined\": [\n    {\n      \"control_id\": \"ustb-holdings-recently-published\",\n      \"compilation_sha256\": \"fad12109e3ec919ec87d923ee628392f3b64c91269711b5626a5b8239843afc3\",\n      \"declined_on\": \"2026-08-18\",\n      \"reason\": \"Redundant with ustb-holdings-as-of-date-present: both read the same as_of_date, and a 40-calendar-day window on a monthly holdings file adds no claim the presence control does not already make.\",\n      \"approval\": {\n        \"compilation_digest\": \"fad12109e3ec919ec87d923ee628392f3b64c91269711b5626a5b8239843afc3\",\n        \"decision\": \"declined\",\n        \"control_digest\": \"2bb8205f529c0ff21ce9d702e32078b29b488b5f59bdd6e3f5891c4380334afa\",\n        \"reason_code\": \"operator-declined\",\n        \"timestamp\": 1787163880,\n        \"version\": 2,\n        \"approver\": \"0x537873b087654395CB0A487B50d0bFBe15fA16Bc\",\n        \"scope\": \"global\",\n        \"policy_id\": \"\",\n        \"signature\": \"d7e575f19b8f2e89cbf4c43088adfc8fa635647b5428ae3acce3b3cddf577f7d44dd70411b8cdbe57916556d10e49c33fb2b3363bfe21e1d1e542453f5eb0c621c\"\n      }\n    },\n    {\n      \"control_id\": \"ustb-outstanding-shares-present\",\n      \"compilation_sha256\": \"db4eebc0e7a795eec7d835dfc4ccd939b87dd3a86d4c4e30a8b1c028bebb4bba\",\n      \"declined_on\": \"2026-08-18\",\n      \"reason\": \"Compiler confidence is 0.80 against a gate of < 0.80, so it clears by zero margin. That is not a deterministic invalidity and the candidate is well formed, but zero margin is not the evidence quality a first approved set should rest on when ustb-nav-per-share-present already covers the NAV value claim.\",\n      \"approval\": {\n        \"compilation_digest\": \"db4eebc0e7a795eec7d835dfc4ccd939b87dd3a86d4c4e30a8b1c028bebb4bba\",\n        \"decision\": \"declined\",\n        \"control_digest\": \"2943448d5c2421808a28efe832a09b21c494ca7a5ae8ca6ac34de461b70645f1\",\n        \"reason_code\": \"operator-declined\",\n        \"timestamp\": 1787163880,\n        \"version\": 2,\n        \"approver\": \"0x537873b087654395CB0A487B50d0bFBe15fA16Bc\",\n        \"scope\": \"global\",\n        \"policy_id\": \"\",\n        \"signature\": \"e8b2023c551111b9a0f3ec0ac3f1651d4e545277e21e7c27af01c7b09d6f1aac657986e0953511be408784343d1b26829f613325d044493fc2a38aefb2b1d89a1b\"\n      }\n    },\n    {\n      \"control_id\": \"ustb-yield-as-of-date-present\",\n      \"compilation_sha256\": \"669c276109b9b6e07b7e6674e5f0ee4fa45d79b7987656c28c3919a2f13eaea6\",\n      \"declined_on\": \"2026-08-18\",\n      \"reason\": \"Redundant with ustb-yield-as-of-date-fresh, which reads the same field and also checks it against the source's declared two-business-day policy.\",\n      \"approval\": {\n        \"compilation_digest\": \"669c276109b9b6e07b7e6674e5f0ee4fa45d79b7987656c28c3919a2f13eaea6\",\n        \"decision\": \"declined\",\n        \"control_digest\": \"5510cadfdcdc7f44331207b1a9e125d38836d6de5fed311af822b5c34fd87d3b\",\n        \"reason_code\": \"operator-declined\",\n        \"timestamp\": 1787163880,\n        \"version\": 2,\n        \"approver\": \"0x537873b087654395CB0A487B50d0bFBe15fA16Bc\",\n        \"scope\": \"global\",\n        \"policy_id\": \"\",\n        \"signature\": \"5145c4c32a414694e967e22d4042a510124506efa0f76e08be58c584e0cce9bf07ffd565b47cf86af469436a26b42232a3e2291aa2fa76b5623560d8be2c05101b\"\n      }\n    },\n    {\n      \"control_id\": \"ustb-yield-seven-day-present\",\n      \"compilation_sha256\": \"669c276109b9b6e07b7e6674e5f0ee4fa45d79b7987656c28c3919a2f13eaea6\",\n      \"declined_on\": \"2026-08-18\",\n      \"reason\": \"Valid, but a third presence check on the same yield document is additional scalar coverage rather than breadth. ustb-yield-one-day-present is the representative field; approving all three would present duplication as product scope.\",\n      \"approval\": {\n        \"compilation_digest\": \"669c276109b9b6e07b7e6674e5f0ee4fa45d79b7987656c28c3919a2f13eaea6\",\n        \"decision\": \"declined\",\n        \"control_digest\": \"3e603bbbb5b6483bab47b8b985f4901cca31e156458661699c4a12fedbc0b759\",\n        \"reason_code\": \"operator-declined\",\n        \"timestamp\": 1787163880,\n        \"version\": 2,\n        \"approver\": \"0x537873b087654395CB0A487B50d0bFBe15fA16Bc\",\n        \"scope\": \"global\",\n        \"policy_id\": \"\",\n        \"signature\": \"cee52a63685b08d114bf6ad6d55fc8da374ed41f9ed6030eb99ef3951beeddf4227eb09adeb5fbe492800073ba4c0a3adc23001368ceaf3e3b268cfbce39a4841b\"\n      }\n    },\n    {\n      \"control_id\": \"ustb-yield-thirty-day-present\",\n      \"compilation_sha256\": \"669c276109b9b6e07b7e6674e5f0ee4fa45d79b7987656c28c3919a2f13eaea6\",\n      \"declined_on\": \"2026-08-18\",\n      \"reason\": \"Valid, but a third presence check on the same yield document is additional scalar coverage rather than breadth. ustb-yield-one-day-present is the representative field; approving all three would present duplication as product scope.\",\n      \"approval\": {\n        \"compilation_digest\": \"669c276109b9b6e07b7e6674e5f0ee4fa45d79b7987656c28c3919a2f13eaea6\",\n        \"decision\": \"declined\",\n        \"control_digest\": \"f55dfa5d422f4b22f21f1587dac1be305edf6bfd7b19e16290f18eac7dd98337\",\n        \"reason_code\": \"operator-declined\",\n        \"timestamp\": 1787163880,\n        \"version\": 2,\n        \"approver\": \"0x537873b087654395CB0A487B50d0bFBe15fA16Bc\",\n        \"scope\": \"global\",\n        \"policy_id\": \"\",\n        \"signature\": \"637335b5dfa1dfe335983598d2aba53221fe420ef32dbd8a287f58bd7abc48ac2aa9a73d020dcd2fbdc65bdd02dc4c89e3e85645ea1a2f69bb22324f547363b61b\"\n      }\n    },\n    {\n      \"control_id\": \"fobxx-price-history-freshness\",\n      \"compilation_sha256\": \"79ab4291337ef8d41944a7c496ee0c636798553fe7e8e4c449de84581a1c457f\",\n      \"declined_on\": \"2026-08-22\",\n      \"reason\": \"Declined as proposed: a 3-business-day window on a business-daily T-1 feed tolerates roughly two missed deliveries, and it is looser than this project's own approved precedent for the same evidence class (ustb-nav-daily-freshness uses business_days 2 with grace_period 1). Recompile at two business days; the control is sound in kind, only lenient in degree.\",\n      \"approval\": {\n        \"version\": 2,\n        \"control_digest\": \"dd8cd06776e8318383fc3492e5da21e691d5f69fd08b494eea03920c58030a0f\",\n        \"compilation_digest\": \"79ab4291337ef8d41944a7c496ee0c636798553fe7e8e4c449de84581a1c457f\",\n        \"decision\": \"declined\",\n        \"reason_code\": \"operator-declined\",\n        \"timestamp\": 1787373881,\n        \"scope\": \"global\",\n        \"policy_id\": \"\",\n        \"approver\": \"0x537873b087654395CB0A487B50d0bFBe15fA16Bc\",\n        \"signature\": \"11844a30f75cef76ed7adda08d2ec1aa7853d05cc55d1351d6d7d8d4bbd56dab55f8aed42e014c244e5d84e0d6a9444d3e73afd1abcf2b4b76918166788acb1f1b\"\n      }\n    },\n    {\n      \"control_id\": \"fobxx-nmfp3-filing-freshness\",\n      \"compilation_sha256\": \"df764467f3e3df3a67e45f4c9692a4d5f164a73ea622763a66397d3c46c9c91a\",\n      \"declined_on\": \"2026-08-22\",\n      \"reason\": \"Declined: the cited span <reportDate>2026-07-31</reportDate> proves the reporting period, not when the filing was submitted or accepted, so a control named filing freshness claims more than its evidence establishes. Measured from period end it also evaluates STALE today (deadline 2026-08-16) even though the July filing was in fact filed 2026-08-06, well inside ten business days. Rebuild it on the SEC submissions source, which carries filingDate, rather than on the N-MFP3 document.\",\n      \"approval\": {\n        \"version\": 2,\n        \"control_digest\": \"9159b33126b7255271fb496993d0ce225c0daaa208c67555dafb1413a6501e2e\",\n        \"compilation_digest\": \"df764467f3e3df3a67e45f4c9692a4d5f164a73ea622763a66397d3c46c9c91a\",\n        \"decision\": \"declined\",\n        \"reason_code\": \"operator-declined\",\n        \"timestamp\": 1787373881,\n        \"scope\": \"global\",\n        \"policy_id\": \"\",\n        \"approver\": \"0x537873b087654395CB0A487B50d0bFBe15fA16Bc\",\n        \"signature\": \"410eb2777e42e9c4c3edfeecdfb556478ae8cb120c1069397acc6b5fa72a23530e7b58359e6f2ee731791ba29d50a0ffd44a6d50e19c9e8f09a4e6c8ddaca4121c\"\n      }\n    }\n  ]\n}\n",
  "compilations": {
    "79ab4291337ef8d41944a7c496ee0c636798553fe7e8e4c449de84581a1c457f": "{\"outcomes\":[{\"control\":{\"approval_state\":\"proposed\",\"asset_key\":\"eip155:1:0x3ddc84940ab509c11b20b76b466933f40b750dc9\",\"cadence\":\"business-daily, T-1\",\"comparison_operator\":\"fresh_within\",\"compilation_sha256\":null,\"compiler_confidence\":0.92,\"control_id\":\"fobxx-price-history-freshness\",\"control_version\":1,\"effective_from\":\"2026-08-22\",\"effective_until\":null,\"evidence_span\":\"\\\"navdate\\\":\\\"2026-08-21\\\"\",\"expected_value\":{\"business_days\":3},\"grace_period\":3,\"observation_adapter\":\"fobxx-price-history\",\"predicate_type\":\"observation\",\"source_authority_class\":\"issuer-api\",\"source_id\":\"franklin-fobxx-price-performance\",\"subject\":\"Franklin FOBXX price and performance history publishes a NAV row within the expected business-daily 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