How this works

A token that actually holds its constituents. Not a tracker, not a synthetic, and not a claim on a fund. The assets are in the contract, and burning a share sends you your part of them.

A share is a fixed quantity of each asset, not a proportional slice of whatever happens to be inside. One share of an index might be 0.2 NVDA and 0.025 ETH, forever. That is why the first person to buy pays exactly what the thousandth pays, and why no price feed is involved in creating or redeeming a share at all: both are multiplication.

It also means an index can be published with nothing in it. There is no first-depositor advantage to protect against, because there is no share price to inflate.

The holdings. Fixed when the index is created. There is no rebalance, nothing can be added, nothing can be removed, and that is true for the creator and for us equally. The only exception is one direction: a constituent that can no longer be transferred at all can be excluded, which stops it blocking redemption for everyone else.

The fee. Set at creation, with no function anywhere that changes it, in either direction, for anybody. What an index charges is a fact about it from its first block.

The one thing that can change is presentation: a logo, a description, a link. An index published without an image can be given one later. That is deliberate and it is the boundary, because none of it can misrepresent what an index holds, which is on chain and printed next to it.

Two ways in, and no third.

Curated assets, from a list we maintain: the tokenised equities, the dollar stablecoin, wrapped ETH. This has to be a list, because nothing on chain distinguishes the real AMZN from a token that also calls itself AMZN. There are 383 launches on this chain with the symbol NVDA and 28 with AMZN, and none of them is the asset.

Tokens that graduated on Pons, proven against the chain rather than listed. Pons is the only party that can create the pool a graduated token trades in, so the existence of that pool is the proof. It means any of the roughly 165,000 launches can be held without us maintaining a list of them.

A launch still on its bonding curve cannot be held yet, and the picker says so before you spend anything rather than after the transaction fails.

Every index reports an underlying price and a total return price. They open equal and diverge only upward.

Underlying values the basket the creator declared, and nothing but the market moves it. It is a statement about the index itself.

Total return adds distributions the index received because it is a holder of something that pays its holders. Some tokens on this chain route fees back to holders; an index holding one receives those, and they belong to its shareholders. Total return is what a share actually claims.

Anyone buying in after a distribution has accrued pays for it, which is what stops somebody minting and immediately redeeming to take earnings they were not there for.

An index shows no price at all until every constituent it holds has been priced at least once. That is missing data rather than zero, and the pages say so rather than showing a figure that would be wrong by exactly what is absent.

Creating an index costs about $5 in ETH plus the transaction. Funding it is optional.

Buying costs 1% and selling costs 1%. Of every fee, 60% goes to whoever created the index and 40% to AINDEX. That split is a constant in the contract rather than a setting, so it holds at any fee level.

There is no management fee and no streaming fee. Nothing dilutes a holder and nothing decays over time. An index you buy and hold costs you nothing after the moment you bought it.

Deployed once and never upgraded. There is no proxy, no admin key that can change their behaviour, and no path by which any of this becomes different code.

Three are addresses you can call. The fourth is IndexVault, which is never called at this address: it is the implementation every index is cloned from, so each index is its own copy at its own address, holding its own assets.

Every index here is available to Claude, ChatGPT, Cursor and any other MCP client: what each one holds, what a share is worth, and how it has moved. Read only, free, and no key.

Claude: Settings, then Connectors, then Add custom connector, and paste the URL. It needs no authentication.

Claude Code: claude mcp add --transport http aindex https://aindex.capital/mcp. Add -s user for every project rather than one.

Codex: codex mcp add aindex --url https://aindex.capital/mcp.

Cursor, Zed and other editors: an entry in your MCP configuration pointing at the same URL over the Streamable HTTP transport. There is no local process to install.

It does not manage anything. Nobody picks holdings on your behalf, nothing rebalances, and there is no strategy running behind an index. An index does exactly what its creator wrote down and then keeps doing it.

An index’s holder count is exact, because every share movement emits a transfer and this reads all of them. Nothing else here is a sample or an estimate either: every figure on an index page is computed from the chain’s own events.

A USDG figure anywhere here is converted at a one-dollar peg rather than a traded rate. A peg is an assumption, and assumptions have broken before.