# Open Stablecoin Index (OPEN)

- **Type:** Index DTF
- **Chain:** ethereum (id 1)
- **Contract address:** `0x323c03c48660fe31186fa82c289b0766d331ce21`
- **Annual fee:** 0.75%
- **Page:** https://app.reserve.org/ethereum/index-dtf/0x323c03c48660fe31186fa82c289b0766d331ce21/
- **Tags:** Stablecoins, DeFi, Majors, Ecosystem

## Description

Open Stablecoin Index is an equal-weight index tracking leading stablecoin-networks advancing transparency, composability, and user-led governance. Included protocols should be evaluated on verifiable asset-backing, peg design, mint/redeem logic, safety mechanisms, yield-sharing, and decentralized control.

## Mandate

Track leading decentralized stablecoin-networks advancing transparency, composability, and user-led governance. Included protocols should be evaluated on verifiable asset-backing, peg design, mint/redeem logic, safety mechanisms, yield-sharing, and decentralized control.

## About

The Open Stablecoin Networks Index is a value-weighted DTF that tracks DeFi’s ten strongest open stablecoin networks in one $OPEN token. Eligible projects are first whitelisted by vSQUILL-OPEN governance, which reviews asset backing, peg design, mint and redeem rules, safety mechanisms, revenue sharing, and decentralized control. Whitelisted projects are then ranked and weighted, with only the top ten included. 

Weights use a composite score: 60% on TVL relative to FDV, comparing supplied value to market valuation, 20% on year-over-year TVL growth, and 20% on liquidity efficiency. Quarterly rebalances cap holdings at 40% and set a 1% minimum to help reduce concentration risk and smooth large swings.

## Basket constituents

`AAVE` (0x7Fc66500c84A76Ad7e9c93437bFc5Ac33E2DDaE9), `CRV` (0xD533a949740bb3306d119CC777fa900bA034cd52), `OGN` (0x8207c1FfC5B6804F6024322CcF34F29c3541Ae26), `FXS` (0x3432B6A60D23Ca0dFCa7761B7ab56459D9C964D0), `INV` (0x41D5D79431A913C4aE7d69a668ecdfE5fF9DFB68), `LQTY` (0x6DEA81C8171D0bA574754EF6F8b412F2Ed88c54D), `RSR` (0x320623b8E4fF03373931769A31Fc52A4E78B5d70), `RSUP` (0x419905009e4656fdC02418C7Df35B1E61Ed5F726), `FXN` (0x365AccFCa291e7D3914637ABf1F7635dB165Bb09), `ALCX` (0xdBdb4d16EdA451D0503b854CF79D55697F90c8DF)

> Volatile values — current basket weights, price, TVL, market cap, performance —
> change over time. For live data call `https://api.reserve.org/discover/dtf?chainId=1`
> or use the [`@reserve-protocol/dtf-cli`](https://app.reserve.org/skills/dtf.md) skill.