The AMKT Token represents a basket of digital assets designed to track the market capitalization of the cryptoasset market. AMKT is the first of a new class of indexes deployed on-chain.
The AMKT Token is an implementation of the Alongside BenchmarkAMKT Benchmark Methodology by Battery Labs, an appointed service provider to the AMKT DAO.
Each index token is backed by a proportional tranche of assets held in Coinbase Prime. Our index tokens are designed to be redeemable by merchants, fully backed, and transparent.
The AMKT Token is designed to measure the market performance of digital assets available on crypto exchanges. These indexes are composed based on attributes such as supply, availability, and liquidity.
Alongside's indexes are constructed by a network of participants who mint or burn tokens by depositing collateral into a vault. This gives Alongside indexes some special features such as:
- Full Collateralization - Each token is fully backed by the asset the token represents.
- Redeemable - Each token can be redeemed for the index's constituents.
- Programmability - Tokens are distributed as ERC20 tokens, making them fully composable with DeFi applications.