Objective

The Basket token (BSK) by Vingt.io is a digital asset in the form of an index, designed to track the performance of some of the main assets in the cryptocurrency space. BSK falls within the “Indexed Products” workstream and involves the creation of a tokenized basket of twenty cryptocurrencies. This would allow investors to have macro exposure to the crypto space while limiting idiosyncratic risks around holding a single underlying asset. The BSK token is fully collateralized by its constituent crypto assets. BSK is a dynamic pool based on selection driven by periodic reviews. VGT itself will be a constituent of BSK as a permanent member and used as governance token to administer BSK’s executive functioning.

Token Selection Criteria

The Basket token (BSK) by Vingt.io is a digital asset in the form of an index, designed to track the performance of some of the main assets in the cryptocurrency space. BSK falls within the “Indexed Products” workstream and involves the creation of a tokenized basket of twenty cryptocurrencies. This would allow investors to have macro exposure to the crypto space while limiting idiosyncratic risks around holding a single underlying asset. The BSK token is fully collateralized by its constituent crypto assets. BSK is a dynamic pool based on selection driven by periodic reviews. VGT itself will be a constituent of BSK as a permanent member and used as governance token to administer BSK’s executive functioning.

  • Every token (except VGT) must be listed on Binance Exchange to be considered.
  • The token must not be considered a security by the corresponding authorities across different jurisdictions.
  • There should be sufficient liquidity for each token to carry out large transactions for market buy and market sell, without affecting the price more than +/- 2%
  • None of the following categories of token would be included in BSK. Including but not limited to,
  1. Meme Coins with no potential utility
  2. Abandoned Projects
  3. Projects with unknown developers AND market cap of circulating supply being less than 1B USD.
  4. Projects having structural problems as seen in the case of LUNA/UST
  5. Wrapped Tokens
  6. Other Tokenized derivatives
  7. Tokens representing claim on other tokens
  8. Tokens having inconsistencies in roadmap
  9. Tokens having less than 20% of their total supply in market circulation
  10. Tokens having huge difference in their ‘price’ and ‘market cap’ graphs.
  11. The tokenomics must not have locking, minting or other characteristics that would put passive holders at a disadvantage.

Any other criteria deemed fit by Vingt.io core team can be added at a later stage along with amendments made to the ones listed above.

Index Maintenance

  1. Adding and deleting tokens
  2. Weightage balancing (5% for each asset)
  3. Recalculation
  • The price and supply of BSK would not change during the Index Maintenance.

Tokenomics of BSK

  1. BSK token would be minted and burned on request by Vingt.io foundation through a safe and secure mechanism.
  2. BSK would initially be available on Vingt.io website. Tokens will be minted when someone purchases BSK from Vingt.io treasury and would be burned when someone sells BSK back to the treasury. At the backend, underlying assets would be purchased/sold simultaneously. BSK would be listed on exchanges like any other token and would sustain the same price as being offered by Vingt.io treasury.
  3. Once a token gains 5-10% in a short period (keeping exact percentage confidential to safeguard the interest of the investors), the profit would be crystallised and redistributed amongst other tokens within the basket. Please note that the constituents of BSK would not change at this stage, only the weightage would be redistributed.
  4. The initial price at launch of BSK token would be 0.1 USD and would keep adjusting going forward. The price of BSK at any given time would be the total funds held by Vingt.io treasury at the backend, divided by token circulation supply of BSK.