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Each issued AMKT token represents a share of the AMKT Underlying Assets. Each AMKT token provides the holder with the ability to participate in AMKT governance. AMKT tokens are fully redeemable as explained below.
The AMKT Decentralized Organization (“DAO”) is responsible for maintaining the AMKT Benchmark (“Benchmark” or “AMKT Index”), a benchmark tracking the cryptoasset market. The AMKT Token (“index token”) is the cryptoasset that implements the Benchmark. This constitution (“Constitution”) and the smart contracts implementing AMKT acquisition, trading, and governance together describe how AMKT operates.
AMKT holders are eligible to propose a variety of changes to the AMKT smart contracts. Among other things, AMKT holders are eligible to propose changes to:
- The number of AMKT underlying assets;
- The type of AMKT underlying assets (e.g., no stablecoins);
- The specific AMKT underlying assets;
- Other upgrades to the AMKT smart contracts.
Changes to the composition of the AMKT token, such as the assets that compose the AMKT token and the respective weighting of those assets, are determined by the community, proposed to AMKT holders for a governance vote, and then executed by the governance multi-sig.