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What is a basket token?
One token that holds several stocks, ETFs and commodities at once, in set weights.
What it holds
A basket token holds onchain assets, in the weights its creator set at launch: tokenized stocks and ETFs, commodities like gold, silver and oil, Treasury and bond funds, and funds that hold bitcoin and ether. The token’s value follows everything inside it.
The tokenized assets are issued by xStocks (Backed), Backpack and Ondo, not by Koturo. One holding can be made up of more than one issuer’s token of the same asset.
How it runs
As prices move, the weights drift. Once each trading day, during US market hours, Koturo’s keeper trades the basket back to its set weights, moving only the holdings that have drifted more than 0.5% from theirs.
Buying and selling
Buying and selling happen at the value of what the basket holds:
- Buy: pay USDC, and new tokens are minted at the token’s value. The keeper buys the holdings with your USDC, so the token always holds what it says.
- Sell: hand tokens back and get USDC at their value. The keeper sells that share of the holdings.
- Prices can move while the keeper trades. That cost, capped at 1%, comes out of your own order, never the other holders’.
Launching one
Choose what it holds and set the weights, name it and give it a ticker, and seed it with at least 50 USDC. The weights and fees are written on chain at launch and can’t change afterwards.
The creator takes a share of every buy and sell fee, from 1% to 50% of it, set at launch: 25% unless they choose otherwise.
What it costs
On the tokens live today, buying and selling each take 0.3%. A yearly fee of 1% comes out of what the token holds.
Each token’s fees are set at launch and shown on its page, and again before you confirm.
Checking it yourself
Every basket’s page shows its holdings, read from Solana, with the time they were read. The same data is open to anyone through Koturo’s API, with no key.