Value tracking
Meme20’s value is designed to track the aggregate market capitalization of the top 20 meme tokens in real time. This is accomplished through integration with external data providers such as:
CoinGecko: Provides free and reliable market data, including pricing and market capitalization information.
CoinMarketCap (CMC): Offers premium services with more advanced analytics and tracking options.
Alternative APIs: Ensures redundancy and data reliability through additional providers.
How It Works:
Periodic Market Data Fetching: External APIs are queried every 30 minutes to fetch the latest market cap data.
Index Calculation: The market cap data for the top 20 meme tokens is aggregated.
Rebase Adjustments: The total supply of Meme20 is adjusted based on the index, ensuring its value reflects the underlying assets.
Meme20 Index Mechanism:
Starting Point: Meme20 begins with an initial supply of 80 million tokens, representing the total market capitalization of the top 20 meme tokens at launch.
Real-Time Updates: Market cap changes are fetched via APIs and recalculated every 30 minutes.
Proportional Adjustment: Meme20’s supply adjusts proportionally to match fluctuations in the total market cap of the tracked tokens.
Transparency:
All data used for tracking is sourced from publicly available APIs.
Logs of rebase events and supply adjustments are available on-chain for verification.
Last updated