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jasonmeinzer.eth 🎩↑
@jasonmeinzer
The $CLANKERINDEX GeckoTerminal listing is now live and pro-rata distros from last month's LP fees were just airdropped to our Top 50 Holders; totaling ~$874usd to date. With the index rebalanced for January, we'll kick off 2025 with 1M token airdrops via @quidli to any recasters of this post by Monday - 🤖 ⚖️
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sean
@swabbie.eth
Can you explain a bit more about how the rebalancing works? Do you have a fund contract that holds all of the tokens in the index? Thanks!
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jasonmeinzer.eth 🎩↑
@jasonmeinzer
@swabbie.eth more detail as promised: The index composition was reconstituted these past two monthly periods to include the Top 25 clanker tokens based off of their market caps, with each of the 25 balanced with equal weight in the basket. Our v1 takes a progressively decentralized, leaner, synthetic design to track the basket’s total market cap performance monthly. We may explore fund-based models with innovative approaches to custody and such in future iterations after more experimentation with onchain synthetics (and new agentic models or angles like daos.fun). So v2 rebalancing is likely to incorporate lessons from our @bountycaster gig last month and dynamically programed token weights based not only off market caps but also other metrics like trading volume, liquidity and other health factors. Check out all detail on bit.ly/clankerindex-dune and don't hesitate to ask for more!
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sean
@swabbie.eth
I might be overlooking something you already explained, but what is the mechanism that causes the token price to follow the prices of the basket of tokens in the index? Is the ERC-20 contract modified to hold deposited tokens or some other mechanism?
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jasonmeinzer.eth 🎩↑
@jasonmeinzer
Oh, I see your perspective now! This is an excellent question and a great opportunity to clarify for others, too. Unlike traditional synthetic index funds - which use derivatives and financial instruments like swaps to replicate the returns of a basket without holding the underlying assets - the price of $CLANKERINDEX is not designed to directly mirror the prices or performance of the tokens in its basket. Instead, it operates as an onchain-native experiment, leveraging the unique 0.4% LP trading fees for decentralized holder distros. These reward allocations are based on the index's performance (per its total MC). The price of $CLANKERINDEX is notably influenced by trading fees, holder reward allocations, market activity and volume. So while the contract doesn't hold underlying assets, the ecosystem ensures the token aligns with the basket’s synthetic performance. Thanks for your persistence digging into this! If anything remains unclear or you have more feedback, I’d love to hear it. 1,000 $DEGEN
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