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I'm new to smart contract development and wanted to make a coin that functions like an index for my favorite coins. I'm new to smart contract development and was wondering how I could do this such that it's programmatically verifiable that an ERC-20 coin is worth U, V, and X cryptocurrencies. I was thinking that users deposit currency which is then swapped for the currencies backing the ERC-20 coin. The backing currencies are then stored in the smart contract and each ERC-20 token may be exchanged for some fixed amount of each backing currency. I know this is pretty complicated but wanted to make sure I was on the right track. Is this how a coin like this should be set up?

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  • I am not getting you, are you trying to say if some deposit eth into your contract wo will give tokens which are connected with your contract ??!! or please elaborate
    – DereK
    Aug 30, 2022 at 4:54

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