How it works

Investors who want exposure to the ETF, mint “shares” from the ETF smart contract. These shares represent their share of all the portfolio assets held in the smart contract.

Investors can always instantly redeem their shares for $Sol.

The smart contract which maintains sole custody over the user deposits is open-sourced and verified. It alone can buy and sell assets as specified by the allocations and no external party can ever withdraw the portfolio assets.

memecoin Devs who want access to a community to increase volume and buyers can simply allocate a certain percentage of their token’s supply for the ETF and permissionlessly send it to the ETF smart contract. Once received, we with the help of the community will review the token and set an allocation of it in the ETF depending on quality of the meme, percentage of supply received and dollar value of the supply received among other factors.

This alignment of interests will create a fly-wheel effect whereby investors will want exposure to the ETF because not only are they buying a basket of diversified memes but this basket is also getting increasingly bigger as newly launched memes are being sent to it by Devs resulting in the value of their shares increasing.

Meanwhile, Devs will increasingly want to send more supply of their tokens to the ETF because an allocation in the ETF will mean more attention to their token and an increase in volume every time someone mints/burns a new share of the ETF.