ZendettaPicks & xBTC : AMA Recap

Welcome to the #ZePicks AMA with xBTC!

AMA format, as always, is as follows:

- Introduction to xBTC project and team

- Questions from ZeTeam

- Questions from Community

- How to follow the project and find out more
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Today we have @SoCapCeo (Mark Sgambelluri) & @SoCapCmo (Aatash Amir) from xBTC team with us to answer our questions and fulfill our curiosity! Let’s start with a narrative description about xBTC:

Mark: Quick pitch: xBTC is a synthetic index fund AND/OR xBTC is a synthetic dominance hedge against Bitcoin

Whiteboard pitch: The supply and demand of an asset determines spot price. We modify the supply based on the BMCD (Bitcoin Market Cap Dominance), which means xBTC becomes reactive to BMCD. Think of it as almost a prediction market of where BMCD will go. If you think it will go down buy because you will get a positive rebase if you think it will go up sell because it will be a negative rebase. It becomes a way to quickly and easily trade against BMCD, which doesn’t currently exist. It has some analogous features to a derivative or option in a synthetic form (there is no collateral). The traditional derivative market is…