How OPEN works

A fund here is a vault with a published basket. Anyone who can source those tokens can mint the share. Anyone who holds the share can burn it and take the tokens back. The protocol does the custody. The curator does not.

Why this is not a wrapper meme

Index memes on other chains sell a story and a chart. OPEN sells a basket you can pick up. If you cannot redeem into NVDA, SPY, and USDG, you do not hold those names. You hold a ticker.

Where the oracle sits

Median quotes from whitelisted pools (WETH, USDG, USDC, USDT, USDE) are used to print NAV on the site. They are not an argument to create or redeem. If the median is wrong, the mint still demands the same units.