MAG7.ssi

The identifier resolves the first ambiguity. CoinGecko and the verified Base proxy point to MAG7.ssi at 0x9e6a…3b55, an 8-decimal token. SoSoValue’s product page calls it a seven-asset spot crypto index; it is not a tokenized portfolio of U.S. technology shares.

That distinction changes the holder’s claim. There is no Apple ballot, Nvidia dividend or Tesla share certificate behind the wallet balance. Even governance rights native to an underlying crypto network do not automatically pass through custody to a MAG7.ssi holder.

The methodology gives each selected crypto asset at least 10%. After that 70% floor is assigned, the remainder follows circulating market capitalization. Eligibility also depends on listing history, named exchanges, supported custody and data, qualifying quote pairs, and liquidity and market-cap screens.

Selection is monthly, not continuous. The fifth-to-last calendar day supplies the reference snapshot; implementation and announcement are due by the first calendar day of the next month. SoSoValue’s own committee approves rule changes and termination, leaving basket policy outside token-holder voting.

For index calculation, SoSoValue says it takes its own price data at one-second intervals. For mint and burn execution, the architecture names RedStone as the oracle used to price shares. The distinction matters because an index level and an executable creation quote solve different problems.

The creation chain begins with an approved WLP depositing cash. A professional market maker buys the constituents, sends them to custody, and the protocol mints MAG7.ssi after verifying the transfer. Burning reverses that choreography: the PMM supplies cash, receives released constituents, and the protocol destroys the returned SSI.

Retail possession is therefore downstream from the creation desk. The FAQ limits that desk to KYC/KYB-approved WLPs; everyone else normally trades on Uniswap or another venue and bears the liquidity gap between a market sale and institutional redemption.

At rebalance, the protocol pauses mint and burn. The index compiler provides new constituents and weights, the protocol server obtains a PMM quote, custody assets are exchanged, and the contract updates the basket before activity resumes.

Cobo and Ceffu are named as custodians, and SoSoValue says reserves are isolated. Yet the public set reviewed here contains no MAG7-specific custody agreement, account statement, asset-level attestation or insolvency opinion. The operational diagram is clearer than the enforceable property chain.

The official address page separates factory, issuer, rebalancer and fee-manager contracts and identifies a Cobo-associated Protocol OWNER. The token itself is a UUPS proxy pointing, on the review date, to implementation 0x9fBF…5D5F.

Verified code gives DEFAULT_ADMIN_ROLE the upgrade key and power to administer roles. ISSUER_ROLE controls mint and burn, REBALANCER_ROLE changes basket state, and FEEMANAGER_ROLE changes and collects fees. The code does not expose a holder-wide blacklist or address freeze, but workflow locks and upgrade authority still concentrate consequential control.

The FAQ describes a 0.01% service fee calculated daily against underlying value. That sentence describes a deduction, not yield. MAG7.ssi holders receive no contractual dividend from Digvaluable, SoSoValue or the U.S. companies evoked by the name.

The audit page lists completed reviews by SlowMist, Code4rena, BlockSec and TenArmor, while Quantstamp and Zellic remain labeled as forthcoming. Code review can reduce implementation uncertainty; it cannot prove a custodian’s balances or decide who owns assets in insolvency.

The website terms contract with Digvaluable Ltd., disclaim fiduciary and advisory duties and describe SSI as basket-representing tokens. They do not identify a distinct MAG7.ssi legal issuer or promise every holder direct title to each stored coin. The token’s biography therefore ends at a precise boundary: transparent mechanics, incomplete legal collateral evidence.