Understand MCI30.

One index for everyone.#

MCI30 has two tokens built around one portfolio: the MCI30 coin on pump.fun and the $MCI fund share. Collected creator fees buy portfolio assets, those assets back newly issued shares, and eligible coin holders receive the shares as rewards. Investors can also create fund shares directly against the required assets.

Buy, sell, create or redeem MCI.#

1. Open the Fund workspace.

   Use Buy / Sell for market swaps between SOL and MCI. Use Advanced for in-kind share creation and redemption. Review the reserve-backed NAV, issued supply, exact share mint and current reserve holdings. Fund values remain unavailable until verified on-chain.

2. Choose your share amount.

   Connect Phantom or Solflare. Creation requires the listed portfolio assets in your wallet. The separate Acquire assets tool buys constituent tokens with SOL; check the exact deposit quantities after those swaps.

3. Review the quantities.

   The quote uses actual reserve balances and share supply. For tokens with transfer fees, it shows your wallet amount, the fee and the net backing. It binds the current supply, membership revision, accounting nonce and approved transfer limits. There is one composition for every holder.

4. Approve each fund step.

   A deposit opens a request, transfers assets in chunks and issues shares only when fully funded. A redemption first burns shares and fixes the asset entitlement, then pays the reserved tokens into your wallet.

5. Resume or recover.

   Open requests are read from Solana when you reconnect. Finish the remaining steps, or refund an incomplete deposit. If another investor changes a deposit quote before it finishes, refund and review again. Token transfer fees are not recoverable and can be charged again on refunds. If a token raises its fee, review updated withdrawal minimums before receiving your reserved assets. Check submitted signatures before retrying.

You approve each movement of funds.#

Connecting a wallet shares its public address. A connection does not grant MCI30 spending authority. Index asset trades require separate signatures, and the purchased tokens are sent to your wallet.

The index composition is shared by all users. A purchase uses the server’s current index weights, rounded to 0.01%, and shows those weights in the quote. Market moves, partial fills and later membership changes can cause your holdings to differ from the index. Index updates do not automatically rebalance tokens already in your wallet.

Execution is recorded per swap

An index order can require several transactions and may complete only in part. Routes, slippage limits and minimum received amounts are evaluated at execution time. A reference price or a successful earlier trade cannot guarantee that a later swap will execute.

Three values, three calculations.#

The dashboard’s MCI30 reference series is calculated from market capitalization. A backed share’s NAV depends on actual reserves. A coin’s market price depends on its trading market.

The divisor preserves continuity

The current Solana series opened with a divisor of 1,000,000. Its opening value came from the actual basket capitalization divided by that scale. It was not set to $100. The divisor is a published scaling convention, not a fund’s share count or a token conversion rate.

For example, a $2.4 billion float-adjusted basket divided by 1,000,000 gives an index value of 2,400. This is an illustration of the calculation, not a current quote. See the index calculation ledger for the actual divisor, value and revision history.

The chart uses saved index observations. Its period return compares actual saved values. The separate 24-hour reference reprices today’s composition using pool-reported changes, so it can differ after a composition adjustment.

Thirty constituents. A changing market.#

MCI follows the top 30 eligible Solana memecoins by float-adjusted circulating market capitalization. The initial list is a starting portfolio, not permanent membership. Coins launched outside Pump.fun can qualify. Each candidate needs a verified mint identity, usable circulating supply and at least $1 million in circulating market capitalization, together with the trading checks below.

Circulating supply is a float proxy, not an independent audit of every holder. CoinGecko is the primary supply source. CATE uses provider-reported market capitalization divided by its contemporaneous price, bounded to issued supply. An FDV-only figure does not establish circulating value; an asset without usable supply can display a market price while its index weight remains pending.

When a coin falls out

If a constituent falls below rank 30 at a monthly review, an eligible newcomer takes its place. An asset can also lose eligibility through inadequate liquidity, unsupported token controls or other failed checks. Data gaps are not treated as zero market cap. The discovery source covers listed Solana memecoins; it cannot guarantee discovery of every newly created token.

A security issue can stop new purchases immediately. It cannot bypass the vault’s replacement notice or guarantee that a damaged token can be sold. Replacing several reserves is sequential in the current contract; each change has its own notice. Target weights, actual fund weights and pending replacements are separate states.

Eleven checks before a purchase.#

An index weight does not certify an asset as safe or tradable. The trading screen evaluates the exact mint and its evidence independently.

Freshness is part of the quote.#

“Checked” means the service retrieved a quote. It is not the time of the last on-chain trade. Providers can cache data or rate-limit requests. A fresh index price cannot refresh stale liquidity, risk or pool evidence.

If the service cannot obtain a complete, consistent index quote, it keeps the prior observation and reports the delay. Changing chart ranges does not rebase the series. History grows from recorded observations rather than a synthetic backtest.

Configure the coin. Verify the launch.#

Each launch has a name, ticker, description, signing wallet, metadata URI and a choice of standard SOL creation or SOL trading with backed MCI rewards. Upload an image to generate metadata when saving, or provide a public HTTPS/IPFS metadata URI.

1. Save a private draft.

   Connect Phantom or Solflare and sign the wallet sign-in message. Confirm the metadata and launch mode. A saved draft does not create a coin.

2. Resolve launch requirements.

   Standard launches check Solana and Pump.fun creation availability. MCI reward launches additionally require current basket data, the deployed MCI program, funded backing and a live settlement operator. Both modes require public token metadata.

3. Prepare and review.

   The server builds and simulates the launch. Review the mint, fee-controller address and estimated SOL cost. The fresh mint key is generated in your browser.

4. Sign, submit and reconcile.

   Your wallet signs the prepared message. The server verifies it, records the signature and broadcasts. Confirmation requires finalized chain status.

A finalized launch made through the site appears in Coins, with links to its exact mint and launch transaction. Drafts, prepared transactions and submitted signatures stay out of the directory until finalized. A finalized listing is not an endorsement of the token.

Only collected fees fund rewards.#

For MCI reward launches, each coin has a separate fee controller and immutable revenue recipients recorded at launch. Standard launches instead set the creator wallet as the Pump.fun creator fee recipient; no automatic MCI distribution is included. The contract assigns 80% of received creator fees to the reward budget, 10% to the creator and 10% to protocol operations. Integer remainder stays with rewards. This percentage applies to received creator fees, not trading volume or all venue fees.

SOL fees

A funded operator obtains the portfolio assets at the current eligible weights. Reimbursement requires delivery into that launch’s controller. A resumable fee deposit transfers the exact proportional assets into the fund; shares are issued only after every asset is secured. The least-funded asset limits issuance and leftovers carry forward. New purchases stop on stale or excluded constituents.

Batching and costs

The default operator waits for at least 1 SOL in the holder reward budget before a portfolio purchase cycle and spends at most 5 SOL per cycle. Unspent SOL and excess constituent inventory remain assigned to that launch. Claimable distributions require the claimant to pay network fees and any account rent; no small holder is excluded merely for lacking a share account.

The operator funds swap liquidity, network fees and token-account rent separately. The current contract does not accept arbitrary operating expenses as deductions from holder fees. Fees, available routes, rounding and operator activity determine actual distributions; the protocol does not promise an APY or fixed payout cadence.

A funded allocation for each holder.#

1. Read a finalized holder snapshot.

   Aggregate token accounts by owner and reconcile the snapshot against supply. Review exclusions for curves, pools, controllers and other designated accounts.

2. Calculate proportional entitlements.

   Allocate available fund shares in proportion to included coin balances. Round down in share atomic units; carry unallocated shares forward.

3. Fund the epoch before publishing claims.

   Each launch, epoch and reward asset has its own immutable Merkle allocation. A proof binds the holder and amount to that exact allocation.

4. Deliver once, to the holder.

   The holder or a third-party fee payer can submit a claim. Fund shares go to the holder’s canonical share account. The underlying assets remain in the fund until the holder redeems. A receipt prevents replay.

One share, a proportional asset claim.#

The Fund page connects to the reserve vault. The V3 contract supports 2–30 distinct legacy SPL and compatible Token-2022 reserve assets; public MCI30 creation requires all 30 reviewed constituents. Transfer hooks and unreviewed extensions remain blocked. Mint and freeze authorities must be revoked. Initial setup configures the assets in chunks while deposits are paused.

Deposit

Open a deposit request, fund the required assets in chunks of up to eight, then finish. Shares are issued only after every required asset is secured. The quote binds the basket revision, share supply and accounting nonce. If intervening activity changes the quote, refund the request and start again.

Redemption

A redemption burns shares and reserves the full entitlement before payouts begin. The holder then claims chunks into the recorded destination accounts. Pausing deposits does not pause withdrawals. Pending refunds and reserved withdrawals retain their original mint lists through a replacement.

Backing ledger

Raw token balances must cover the ledger backing issued shares. Pending deposits, reserved withdrawals and direct token donations do not mint shares or inflate NAV. Deposit requirements round up; redemption amounts round down.

Authority and limits are explicit.#

The current vault is governed. An authority selects replacement terms and publishes holder roots; an upgrade authority controls program upgrades. The site verifies the registered program fingerprint and blocks readiness if the deployed code does not match.

A one-for-one reserve replacement has at least 48 hours’ notice. Execution exchanges the outgoing reserve for the published net incoming-token ratio using revision checks and integer rounding. V3 proposals have a one-hour execution window after the notice period; expired terms must be replaced. Holders can review the proposal and redeem during the notice period.

Daily monitoring keeps dated evidence and preserves the monthly selection once recorded. The replacement utility verifies the deployed code, funded reserves, plan integrity and on-chain proposal before preparing one simulated wallet request. It checks fresh DEX Screener and independent Raydium quotes within 2% of each other. Execution uses a default 0.5% value-loss limit, capped at 1%. These price checks run in the client; the contract enforces the signed token ratio, not a USD oracle.

Governance signs replacements and weight trades. Weight trades exchange two existing reserve assets after 48 hours, with a one-hour execution window, a fixed minimum exchange ratio and revision checks. A membership replacement does not by itself align all 30 portfolio weights. Holders’ MCI balances stay the same, while NAV reflects the reserves and execution costs.

Private keys stay outside the website and source repository. The settlement utility runs on an operator-controlled machine. Its signed heartbeat expires after two minutes and indicates recent connectivity, not a guarantee of future settlement.

What mainnet activation requires.#

The launch studio reads the actual chain and service state. Changing a label or an environment flag cannot create reserves, issue shares or grant Pump.fun quote admission.

Token-2022 custody is in review

The V3 candidate supports reviewed metadata and transfer-fee extensions. A deposit must deliver the full backing after fees before shares can be issued. Withdrawals use signed minimum receipts; a holder can explicitly revise the minimum if an issuer changes its fee. Withheld fees never count as backing. Refunds can incur a second token fee.

Current and scheduled deposit fees are limited to 5% in the candidate. This admission limit does not prevent an existing holder from accepting a higher fee to withdraw. Mint controls, unrecognized extensions and transfer hooks remain blocked. The application still uses the existing custody gate until the new contract, website and operator flows pass release verification.

Deployment and initial funding require wallet signatures and capital. All platform launches trade against SOL; MCI custom-quote admission is not required. Global distribution remains subject to the operating entity, legal review and an approved country-access policy.

Inspect the implementation.#

Local tests do not replace target-cluster simulation or an independent contract review. Deployment tools and configuration downloads are available in the owner’s private setup.

Download the V3 implementation and review status. The package identifies unrun tests and outstanding integration work separately from completed checks.

Read-only site endpoints

Endpoints follow the site’s access policy. Portfolio, order and launch operations retain their own authentication and validation requirements.