— LMCX Institutional White Paper · v2.6 → v2.6.1 Terminology Rename
v2.6.1 is a labels-only point release. The forward instrument introduced in v2.6 is renamed from "Projected Vintage Forward Right (PV-FR)" to "CAT-Forward Vintage (CAT-FV)" to align with the CAT family naming convention and read cleanly in commercial documents. Architecture, mechanics, conversion logic, governance, regulatory characterization analysis, and every numerical figure are preserved verbatim from v2.6. No legal, methodological, or quantitative content was modified.
/docs/lmcx-cat-institutional-whitepaper-v2-6-1.html; the v2.6 text is preserved unchanged at /docs/lmcx-cat-institutional-whitepaper-v2-6.html as a historical artifact reflecting the prior PV-FR labeling. The v2.5 → v2.6 substantive redline (which introduces the two-tier instrument architecture) remains at /docs/lmcx-cat-institutional-whitepaper-v2-6-redline.html.
| Status | Scope | Substance |
|---|---|---|
| RENAMED | Forward instrument · Full name | Projected Vintage Forward Right → CAT-Forward Vintage |
| RENAMED | Forward instrument · Short form | PV-FR → CAT-FV (and plural PV-FRs → CAT-FVs) |
| RENAMED | Layer 2 ticker · Christopher | LMCX-CHR-PVFR → LMCX-CHR-CATFV (Solana Token-2022 mint label; CIBF Layer 1 cross-reference preserved) |
| RENAMED | CIBF Layer 1 serial format | CIBF-METH-USTX-{ASSET}-PVFR-{TARGET_VINTAGE}-{6DIGIT_SEQ} → CIBF-METH-USTX-{ASSET}-CATFV-{TARGET_VINTAGE}-{6DIGIT_SEQ} (label swap only; ordering preserved — see §3 ambiguity note) |
| RENAMED | Issuance Checklist gates | PVFR-1 … PVFR-9 → CATFV-1 … CATFV-9 |
| RENAMED | Regulatory monitoring triggers | TR-PVFR-01 … TR-PVFR-06 → TR-CATFV-01 … TR-CATFV-06 |
| RENAMED | Gate reference (regulatory characterization) | PVFR Gate 5 → CATFV Gate 5 |
| RENAMED | Defined-document reference | PV-FR Issuance Checklist → CAT-FV Issuance Checklist · PV-FR streaming agreement → CAT-FV streaming agreement · PV-FR streaming/prepay agreement → CAT-FV streaming/prepay agreement |
| RENAMED | Pool / aggregate references | PV-FR pool → CAT-FV pool · PV-FR holder(s) → CAT-FV holder(s) · PV-FR mint → CAT-FV mint · PV-FR characterization → CAT-FV characterization |
| RENAMED | Conversion language | PV-FR → M-CAT conversion → CAT-FV → M-CAT conversion (atomic burn-and-mint mechanic unchanged) |
| RENAMED | Metadata schema · field values | instrument_class: "PV-FR" → instrument_class: "CAT-FV". instrument_class: "M-CAT" unchanged. |
| RENAMED | Metadata schema · key prefixes | pv_fr_* → cat_fv_* (e.g. pv_fr_pool → cat_fv_pool; total_pv_fr_pool_indicative → total_cat_fv_pool_indicative; scope token two_tier_M_CAT_plus_PV_FR → two_tier_M_CAT_plus_CAT_FV) |
| UPDATED | Cover · Title · Topbar · Colophon | Version v2.6 · May 2026 → v2.6.1 · May 2026. Colophon descriptor updated: CAT-FV (Tier 2, projected vintage forward right) → CAT-FV (Tier 2, CAT-Forward Vintage). Colophon adds a one-line v2.6.1 point-release notice. Effective date May 1, 2026 preserved. |
| UPDATED | Metadata · top-level header | Adds schema_version: "v2.6.1", generated_for: "LMCX_Institutional_White_Paper_v2_6_1", supersedes, and point_release_note fields. Adds archive_v2_6_url and archive_v2_6_redline_url to white_paper_alignment. Canonical current_paper_url repointed to /docs/lmcx-cat-institutional-whitepaper-v2-6-1.html. |
| PRESERVED | Substantive architecture | Two-tier instrument architecture, atomic burn-and-mint conversion mechanic, ISO 14064-2 §5.4 ex-ante quantification basis, ISO 14064-3 §7.4.4 reasonable-assurance verification of M-CAT, ISO 14064-2 §5.4 limited-assurance attestation of forward instrument, widened Monte Carlo envelope ±15–20% P95, correlated-barrier-failure permanence re-run, CCCi premium dual-enforcement, regulatory characterization counsel-opinion condition precedent, six regulatory monitoring triggers, MAC provisions covering counterfactual-eroding events — all preserved verbatim from v2.6. |
| PRESERVED | Verified figures and citations | Christopher Y1 M-CAT 2,176,779 (GWP28); Abernathy single-lot M-CAT 1,656,501 (GWP28); combined Y1 inventory 3,833,280; Christopher 10-year project quantification 21,420,606 tCO₂e; Christopher CAT-FV pool 19,243,827 (= 21,420,606 − 2,176,779); Wyoming SOS No. 2026-001934109; Loving County Instrument No. 2026-0017; CCCi-0120125; TRRC P-5 No. 102051; API 42-301-30037 (Christopher); API 42-301-30214-0002 (Abernathy); Kent Group Verification Statement KG/GHG0083125; March 2026 MRP $13.0784 / MT (Databento job IFEU-20260331-CLBJ594CQ8); $19–$22 / MT M-CAT indicative reference range; Methodology v1.3; Amendment No. 4 — all preserved verbatim. |
| PRESERVED | Section ordering and structure | §01.1, §02.1, §04.5, §05.2 (forward-instrument pricing), §06.2, §06.3, §06.6, §07.4, §08.3, §10.6, §10.7, §11.3, §12, §13.1 — section numbering unchanged. No paragraphs added, removed, reordered, or substantively rewritten. |
LMCX-CHR-2027-CATFV-{seq} describes a per-vintage Layer 2 identifier format that is not present in the v2.6 source; if such a format is later introduced, it should be specified at the next paper revision rather than retrofitted by this naming pass.CIBF-METH-USTX-CU1-2027-CATFV-{seq} places the instrument-class token after the vintage; the v2.6 source places it before the vintage. v2.6.1 preserves the v2.6 ordering, swapping the label PVFR → CATFV in place. A reordering would change the format itself, which is outside the scope of a labels-only pass — flagged for human review."schema_version": "v2.6" · "generated_for": "LMCX_Institutional_White_Paper_v2_6""schema_version": "v2.6.1" · "generated_for": "LMCX_Institutional_White_Paper_v2_6_1" · adds "supersedes" field and "point_release_note" field describing the labels-only nature of the rename."tiers": ["M-CAT", "PV-FR"] · "instrument_class": "PV-FR""tiers": ["M-CAT", "CAT-FV"] · "instrument_class": "CAT-FV"instrument_class unchanged; field name target_vintage unchanged. instrument_class: "M-CAT" unchanged.pv_fr_pool · total_pv_fr_pool_indicative · scope token two_tier_M_CAT_plus_PV_FRcat_fv_pool · total_cat_fv_pool_indicative · scope token two_tier_M_CAT_plus_CAT_FVcibf_layer1_format: "CIBF-METH-USTX-{ASSET}-PVFR-{TARGET_VINTAGE}-{6DIGIT_SEQ}" · cibf_layer1_example: "CIBF-METH-USTX-CU1-PVFR-2027-000001" · tickers.christopher: "LMCX-CHR-PVFR" · gate_reference: "PVFR Gate 5" · amendment_no_4_section_3 string referencing TR-PVFR-01 through TR-PVFR-06PVFR → CATFV token swap in place; vintage and sequence positions preserved.current_paper_url: "/docs/lmcx-cat-institutional-whitepaper-v2-6.html" · redline_url: "/docs/lmcx-cat-institutional-whitepaper-v2-6-redline.html"current_paper_url: "/docs/lmcx-cat-institutional-whitepaper-v2-6-1.html" · redline_url: "/docs/lmcx-cat-institutional-whitepaper-v2-6-1-redline.html" · adds archive_v2_6_url and archive_v2_6_redline_url pointing to the preserved v2.6 historical artifacts./docs/lmcx-cat-institutional-whitepaper-v2-6-redline.html — preserved unchanged as the historical record of the v2.6 architectural introduction. The v2.6 redline still references the PV-FR label that was provisional at the time of v2.6 issuance; that historical document is not retroactively rewritten. (See "Edge cases flagged for review" in the v2.6.1 naming change log.)/docs/lmcx-cat-institutional-whitepaper-v2-6.html is preserved unchanged. It is the historical record of the v2.6 issuance, which used the provisional PV-FR label. v2.6.1 supersedes it for go-forward use. Do not delete or rewrite the v2.6 file; cross-reference it from v2.6.1 metadata as archive_v2_6_url./docs/lmcx-cat-institutional-whitepaper-v2-6-redline.html is preserved unchanged. It documents the architectural introduction of the two-tier structure under the provisional PV-FR label. Rewriting the historical redline would rewrite history; instead, this v2.6.1 terminology redline supplements the prior redline.CIBF-METH-USTX-CU1-2027-CATFV-{seq}), whereas the v2.6 source places it BEFORE the vintage (CIBF-METH-USTX-{ASSET}-PVFR-{TARGET_VINTAGE}-{6DIGIT_SEQ}). v2.6.1 swaps the label in place (PVFR → CATFV) and preserves the v2.6 ordering. Reordering is a format change, not a label change, and is out of scope for this pass. Flagged for separate review and resolution at the next paper revision (or at the next CIBF Protocol revision, whichever lands first).LMCX-CHR-2027-CATFV-{seq}) describes a per-vintage Layer 2 identifier for the forward instrument. The v2.6 source uses a single non-vintage-bearing ticker (LMCX-CHR-PVFR) for the forward mint and tags vintage via on-chain metadata (target_vintage field), not via the ticker. v2.6.1 preserves the v2.6 single-ticker convention with the label swap (LMCX-CHR-CATFV). If a per-vintage Layer 2 identifier is desired going forward, it should be specified in the next Tokenization Worksheet revision rather than retrofitted by this naming pass."CAT-FV Streaming Agreement" (Title Case). The v2.6 source uses lowercase "streaming agreement" in most contexts (with one Title-Case occurrence as Streaming Agreement Template v1.0). v2.6.1 preserves the v2.6 casing convention to avoid changing sentence-level prose; the Title-Case occurrence is preserved Title-Case. If a uniform Title-Case treatment is desired, it should be applied at the next paper revision and documented as a stylistic update rather than a labels-only pass.<div class="figure"> blocks rather than as image assets. The HTML figure captions and inline labels were updated by the same string-replacement pass that updated body prose. No PNG, SVG, or other image asset named or labeled PV-FR was found in the repository.LMCX CAT · Institutional White Paper · v2.6 → v2.6.1 Terminology Redline
Last Mile Production LLC · CEO: Zach Wagner · P-5 No. 102051 · May 1, 2026
Confidential