{
  "name": "Meme Top 5 Active Buyer Index",
  "symbol": "MT5",
  "version": "4.0",
  "currency": "USD",
  "marketRefreshSeconds": 60,
  "demandWindowMinutes": 30,
  "selection": {
    "constituents": 5,
    "discovery": "DEX Screener and GeckoTerminal Solana discovery plus the curated seed universe",
    "ranking": "30-minute qualified buy USD when identity-quality coverage is complete",
    "buyerEstimate": "unique signing wallets after transaction deduplication, burst-automation filtering, and sub-1-USD dust filtering",
    "maximumQualifiedBuyUsdPerEstimatedBuyer": 10000,
    "fallbackRanking": "wallet-observed gross buy USD, then one-hour market buy-volume proxy; fallbacks are not publishable as token NAV"
  },
  "coverage": {
    "primaryPoolOnly": true,
    "maximumRecentTradesPerPool": 300,
    "completeWhen": "the response contains fewer than 300 trades or its oldest trade predates the 30-minute cutoff",
    "incompleteHandling": "publish as an explicitly labeled lower bound"
  },
  "eligibility": {
    "minimumMarketCapUsd": 1000000,
    "minimumLiquidityUsd": 250000,
    "minimumIndependentMarketSources": 2,
    "maximumPriceDivergenceBps": 500,
    "maximumMarketCapDivergenceBps": 2500,
    "minimumMarketConfidence": 0.65,
    "requireOnchainMintVerification": true,
    "requireRevokedMintAndFreezeAuthoritiesForTokenNav": true
  },
  "weighting": {
    "scheme": "capped float-adjusted market capitalization",
    "maximumConstituentWeight": 0.35,
    "rebalance": "daily at 00:00 UTC and on emergency constituent replacement",
    "continuity": "a basket-unit and index-divisor state preserves the index level across rebalances"
  },
  "backingTarget": {
    "basketPercentOfReferenceLiability": 100,
    "cashBufferPercentOfReferenceLiability": 2,
    "minimumReserveRatioPercent": 102,
    "maximumWeightDriftBps": 100,
    "maximumReportAgeSeconds": 86400,
    "minimumIndependentAttestations": 2,
    "onchainVaultVerification": "Squads v4 owner, Token-2022 authorities, token balances and supply",
    "maximumAttestationToChainDifferenceBps": 10,
    "status": "design target; custody is not connected"
  },
  "publication": {
    "states": ["publishable", "degraded", "halted"],
    "failClosed": true,
    "tokenNavRequiresHumanEstimate": true,
    "tokenNavRequiresFiveConsensusConstituents": true,
    "walletDerivedBuyerEstimateIsNotHumanIdentity": true,
    "signedSnapshots": "Ed25519 signature and SHA-256 content digest",
    "externalOracleAttestations": "two independent Ed25519 signers over the exact content digest"
  },
  "limitations": [
    "A blockchain address is not a person.",
    "The active-buyer estimate does not currently merge every wallet controlled by one person.",
    "Primary-pool observations may omit trades on other pools.",
    "A saturated 300-trade response is a lower bound.",
    "The rolling public index is not itself a redeemable financial product.",
    "The 102% backing model is not evidence that reserve assets currently exist."
  ]
}