Base OG Meme Index

$BMIBase OG Meme Index

Description

An equal-weighted index of Base memes. This index will contain 8 of the OG Base memes, each being 12.5% of the index value. Equal-weighting allows tokens with more room for growth to have more impact on the index. The index will be auto-rebalancing using Balancer.

Specifications

Frontend where you can mint and redeem tokens, and see your token balance and current statistics of the index overall. Smart contract that on mint will automatically purchase each of the 8 tokens, deposit into a Balancer pool composed of them, then send the LP back to the user. On redeem the smart contract must do the opposite (redeem the LP and trade all tokens back to Ether).

Longterm Potential

This can turn into an equal-weighted index protocol for many different kinds of portfolios.

Token Utility

1% fee goes to buybacks and burns on every mint and redeem.

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