AMKT v2 Documentation
Issuance and Redemption
AMKT: The Alongside Crypto Market Index
The AMKT Token represents a basket of cryptoassets designed to track the market capitalization of the cryptoasset market. AMKT is the first of a new class of indexes deployed onchain.
Each AMKT token is backed by a proportional tranche of assets held in the smart contract. The token is designed to be mintable & redeemable, fully backed, and transparent.
AMKT is constructed by a network of participants who mint or burn tokens by depositing collateral into a vault smart contract. This gives AMKT some special features such as:
- Each token is backed by the constituents the token represents.
Each token can be minted by providing the index's constituents.
- Each token can be redeemed for the index's constituents.
- Tokens are distributed as ERC20 tokens, making them fully composable with DeFi applications.