Reserves

The calculated price is 1/P. P is the mean of 16 preservation coefficients in equal shares of 1/16. The formula is on the How the price is calculated page. The base date is 02.01.2001. This is a unit of account. A market price does not have to equal 1/P.

The amount aᵢ is a multiplier inside the formula. It sets the currency's contribution to the price and stays a calculated number.

Mint and redemption go through the BasketVault contract at the contract index. The owner fixes it once a month, on the 28th, from the calculated 1/P.

Buffer. At mint the user deposits 20% above the index value of the BKT received. The surplus stays in the reserve and smooths index changes between updates. The owner can only raise the buffer, not lower it.

Redemption depends on coverage, the reserve divided by the index value of all BKT. At 140% or more, redemption returns the value together with the buffer. From 115% to 140%, it returns the index value without the buffer. Below 115%, redemption is paused.

Contracts v4 run on the Base Sepolia test network: BasketVault 0xD969…cB0E, BKT token 0x62D3…c45D. Test tokens have no value. The mainnet launch comes after the audit. Try it on the testnet.