How do Indexes work?

Great question...

You invest into an ETF by sending crypto to one of our Vaults. When the funds are received, we send you Index Tokens (like NORM) representing your ownership of the ETF.

The value of your Index Tokens change with the value of all the crypto assets in the ETF. Instead of owning a single crypto, you now own a diversified portfolio of the entire crypto market.

When you want to withdraw funds, you burn some (or all) of your Index Tokens and send us your withdrawal request. Upon confirmation, we execute your authorized withdrawal and the Vault sends your requested asset to your requested address.