Treasury
A transparent, methodology-first valuation of what the institution holds: the $AB5D token and, next, the AB[500] works themselves. Figures refresh on a schedule from on-chain data and live market sources.
The $AB5D token ···
The AB[500] works held Cost basis live
Holdings by project ···
| Artist | Series | Editions | Held | % supply | Floor | Listed | Market cap |
|---|---|---|---|---|---|---|---|
| Loading holdings… | |||||||
Methodology
Token. The $AB5D token value is its live market price (from the Ten Thousand Tokens
agent API) multiplied by the number of tokens the treasury wallets actually hold, read on-chain
via balanceOf. The treasury is also the token's launcher, so it accrues a share of
trading fees; that yield line will be shown separately.
Works. Two figures, each by an honest method. Cost basis is the sum of the secondary prices the treasury wallet actually paid for its AB[500] works, read on-chain. Current value is each held project's floor times the number held, with two guards: a per-work mark cap (50 ETH) so a single aspirational listing cannot dominate, and a 30% liquidity haircut on the aggregate, because a whole-collection number is never realizable at once. A floor is the lowest open listing, an asking price, so for an ultra-thin, low-edition series one aspirational ask can overstate a project's mark (for example a 500 ETH ask on a 10-edition work bought for 20 ETH). The cap blunts that; current value is still indicative, not a realizable price.
The AB[500] index. This mirrors the methodology of Artacle's AB500 index (artacle.io ↗): a capitalization-weighted index equal to the sum of (floor × circulating supply) across all 500 projects. Unlike current value it uses raw floors, no cap and no haircut, exactly as a market index should.
What "base date" means. An index needs a starting line. We pick a moment, the base date, set the index to 1000 there, and every later reading is that day's total market cap divided by the base date's, times 1000. So 1,100 means the set is worth 10% more than at the base date; 900 means 10% less. The absolute number is arbitrary; the movement is the signal. Our base is the first full reading, so the index starts at 1000 and builds history forward (historical floors cannot be cheaply reconstructed, which is why Artacle's chart runs back further than ours).
Rationale and limitations. Capitalization weighting is simple, transparent, and replicable; it weights value the way the market does, so a few large, liquid projects move it and a 10-edition outlier is a rounding error; and it is the same approach Artacle uses, so the figures are comparable. Its limits are real: floors are asking prices, not clearing prices, so the index reflects listings and can drift with thin or wash-traded markets; it ignores rarity and traits (a top-rank Fidenza is not a floor asset); it is computed off live ETH floors, so it moves with both the art and ETH; and a market-cap figure is never the realizable value of the set.
No third-party spreadsheet. Figures cache server-side and refresh on a schedule.