Hourglass Index

Hourglass Indices are generalizable products that track an index of time-bound assets across a targeted set of maturity dates.

The ownership of the index assets is represented by ERC-20 shares issued during the depositing process, denominated in a predefined underlying asset, which may vary across indexes. New deposits are issued at the present value per share and redeemed at the value per share at the time of indicating desire to redeem shares for the underlying.