What P10 Tracks

P10 tracks the Top 10 crypto assets by free-float market capitalization, providing diversified exposure to the most relevant assets in the market.

Core Principle

P10 follows a capped free-float market cap model:

• selects the Top 10 eligible assets

• excludes unsuitable or high-risk tokens

• applies caps to prevent dominance

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👉 Result:

• diversified

• balanced

• institution-ready

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Scope & Exclusions

✅ Included

P10 includes:

• major L1 and L2 assets

• high-liquidity tokens

• assets with reliable oracle support

• canonical BNB Chain representations (wrapped if required)

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❌ Excluded

P10 excludes:

• stablecoins (USDT, USDC, etc.)

• pegged or rebasing assets

• duplicate representations (e.g. BTC vs wrapped BTC counted once)

• assets without:

  • reliable price feeds

  • sufficient liquidity

  • verified support

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👉 If a top asset does not meet requirements, the next eligible asset is selected.

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Eligibility Rules

Each asset must satisfy all of the following:

• Top 10 by free-float market cap

• reliable oracle coverage:

  • primary (Chainlink preferred)

  • secondary (Pyth / Redstone)

• sufficient liquidity on BNB Chain

• minimum trading history (≥ 30 days)

• no critical risk flags (exploits, depegs, freezes)

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👉 If any condition fails, the asset is excluded and replaced.

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Weighting Model (Capped)

P10 begins with market cap weighting, then applies limits:

• Mainnet cap: 30% per asset

• Testnet cap: 35%

If an asset exceeds the cap:

• excess weight is redistributed

• the process repeats until balanced

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Minimum Weight Rule

• minimum allocation: 1%

• assets below this threshold are removed

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👉 This prevents:

• excessive concentration

• insignificant allocations

• poor diversification

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Reconstitution & Rebalancing

Reconstitution (Asset Selection)

• Testnet: weekly

• Mainnet: monthly

• emergency updates possible

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Rebalancing (Weights)

• occurs during reconstitution

• adjusts allocations

• avoids continuous trading

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👉 Between events, P10 passively follows market movements.

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Price Sources & Validation

P10 uses a multi-layer validation system:

• off-chain indexer (market cap ranking)

• on-chain verification

• oracle validation

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Oracles

• primary: Chainlink

• secondary: Pyth / Redstone

• TWAP cross-check

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Safeguards

• freshness checks

• deviation limits

• circuit breakers

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👉 If validation fails:

• minting is paused

• redemption remains active

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What You Hold

🧪 Testnet

• synthetic P10

• tracks index within a controlled deviation range (~±3%)

• optimized for testing and iteration

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🚀 Mainnet

P10 will operate using a basket-backed model:

• holds underlying assets

• supports permissionless mint and redeem

• fully transparent and on-chain

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👉 Alternative structures (e.g. synthetic models) may be explored via governance in the future.

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Special Cases

Forks / Airdrops

• added to NAV

• sold into the index at rebalance (default)

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Migrations

• transitioned to updated token versions after validation

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Critical Events

• affected assets removed

• emergency reconstitution triggered

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Fees & Limits

• mint fee: 0.10%

• redeem fee: 0.10%

• default slippage guard: ~0.5%

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Mint Controls

• per-transaction caps

• daily limits

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👉 Designed for stability, fair execution, and risk control.

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Transparency

P10 publishes:

• full composition (symbol, weight, address)

• oracle sources

• signed snapshots

• on-chain events

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UI displays:

• oracle status

• validation checks

• execution details

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TL;DR

• tracks Top 10 crypto assets (excluding stables)

• capped to prevent dominance

• rebalanced on a defined schedule

• validated through multiple oracle layers

• fully transparent and on-chain

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P10 is designed to combine market exposure, risk controls, and transparent execution into a single index product.