{
  "paper": "the-recursion-map",
  "metric": "derivative collateral share of resolved look-through exposure",
  "snapshot": {
    "id": "7e467750b933b456f561eac136f8995c3199f1ed0da98691c44cc0db5c6b2528",
    "builtAt": "2026-06-15T18:14:23Z"
  },
  "query": {
    "method": "GET",
    "endpoint": "/v1/graph/look-through",
    "maturity": "preview",
    "chain": 1,
    "vaultKeys": [
      "1:0xa3931d71877c0e7a3148cb7eb4463524fec27fbd",
      "1:0x4d5f47fa6a74757f35c14fd3a6ef8e3c9bc514e8",
      "1:0x23878914efe38d27c4d67ab83ed1b93a74d4086a",
      "1:0x12b54025c112aa61face2cdb7118740875a566e9",
      "1:0x5ee5bf7ae06d1be5997a1a72006fe6c607ec6de8",
      "1:0xbdfa7b7893081b35fb54027489e2bc7a38275129",
      "1:0x98c23e9d8f34fefb1b7bd6a91b7ff122f4e16f5c",
      "1:0x0b925ed163218f6662a35e0f0371ac234f9e9371",
      "1:0xe2e7a17dff93280dec073c995595155283e3c372",
      "1:0x5c647ce0ae10658ec44fa4e11a51c96e94efd1dd",
      "1:0x2d62109243b87c4ba3ee7ba1d91b0dd0a074d7b1",
      "1:0x59cd1c87501baa753d0b5b5ab5d8416a45cd71db",
      "1:0xe7df13b8e3d6740fe17cbe928c7334243d86c92f",
      "1:0xc02ab1a5eaa8d1b114ef786d9bde108cd4364359",
      "1:0x4f5923fc5fd4a93352581b38b7cd26943012decf",
      "1:0x88e6a0c2ddd26feeb64f039a2c41296fcb3f5640",
      "1:0x28b3a8fb53b741a8fd78c0fb9a6b2393d896a43d",
      "1:0xc3d688b66703497daa19211eedff47f25384cdc3",
      "1:0x19b3cd7032b8c062e8d44eacad661a0970dd8c55",
      "1:0xb576765fb15505433af24fee2c0325895c559fb2",
      "1:0x4579a27af00a62c0eb156349f31b345c08386419",
      "1:0x4dedf26112b3ec8ec46e7e31ea5e123490b05b8b",
      "1:0xbc65ad17c5c0a2a4d159fa5a503f4992c7b545fe",
      "1:0x8ad599c3a0ff1de082011efddc58f1908eb6e6d8",
      "1:0x83f20f44975d03b1b09e64809b757c47f942beea",
      "1:0x4e68ccd3e89f51c3074ca5072bbac773960dfa36",
      "1:0xa9d4ecebd48c282a70cfd3c469d6c8f178a5738e",
      "1:0x6dc58a0fdfc8d694e571dc59b9a52eeea780e6bf",
      "1:0x927709711794f3de5ddbf1d176bee2d55ba13c21",
      "1:0xe3190143eb552456f88464662f0c0c4ac67a77eb",
      "1:0x3afdc9bca9213a35503b077a6072f3d0d5ab0840",
      "1:0xcbcdf9626bc03e24f779434178a73a0b4bad62ed",
      "1:0x4197ba364ae6698015ae5c1468f54087602715b2",
      "1:0x65906988adee75306021c417a1a3458040239602",
      "1:0x00907f9921424583e7ffbfedf84f92b7b2be4977",
      "1:0x99ac8ca7087fa4a2a1fb6357269965a2014abc35",
      "1:0xfe6eb3b609a7c8352a241f7f3a21cea4e9209b8f",
      "1:0x10ac93971cdb1f5c778144084242374473c350da",
      "1:0xc035a7cf15375ce2706766804551791ad035e0c2",
      "1:0xb3973d459df38ae57797811f2a1fd061da1bc123",
      "1:0x08b798c40b9ab931356d9ab4235f548325c4cb80",
      "1:0xec4ef66d4fceeba34abb4de69db391bc5476ccc8",
      "1:0x018008bfb33d285247a21d44e50697654f754e63",
      "1:0x4585fe77225b41b697c938b018e2ac67ac5a20c0",
      "1:0x779224df1c756b4edd899854f32a53e8c2b2ce5d",
      "1:0xc21b08c16458202593d4d9b26b9984ee67b38bbd",
      "1:0xbeef01735c132ada46aa9aa4c54623caa92a64cb",
      "1:0xbeefc1cdafc5b4a649b54d07afc6bf0f75c6f4e2"
    ]
  },
  "derivativeSet": ["USDe", "USDtb", "osETH", "rsETH", "sUSDe", "weETH", "wstETH"],
  "derivativeSetRule": "the symbols above, plus any leaf whose symbol begins with 'PT-'",
  "formula": "share = sum(usdExposure[leaf in derivativeSet]) / sum(usdExposure[all resolved leaves])",
  "result": {
    "derivativeExposureUsd": 8016661175,
    "totalResolvedExposureUsd": 34844924956,
    "derivativeShare": 0.23
  },
  "note": "Point-in-time look-through over a 48-vault chain-1 sample. The live endpoint always serves the latest snapshot; this file freezes the inputs, formula, and result as observed at the snapshot above so the figure is reproducible and citable as-of that date.",
  "source": "Philidor production API",
  "maturity": "preview"
}