Kaiko Safello Staked Indices Rulebook.

The Kaiko Safello Staked Indices measure the total return of Proof-of-Stake digital assets, capturing both price appreciation and staking rewards.

The index tracks two components:

• Price return via Kaiko’s TAO Reference Rate (volume-weighted median + TWAP from executed trades on centralized exchanges)
• Staking yield via a custom weighted average APR of all root TAO validators on the Bittensor network.

A quantity-adjusted methodology increases the asset quantity over time to reflect accrued staking rewards, which are reinvested monthly.

The index uses a 90% utilization rate, monthly rebalancing (last business day of the month), and a daily fixing publication at 16:15 London time (calculation at 16:00). The multiplier is set to 1, with two decimal places.

Governance follows Kaiko’s committee oversight framework, with extraordinary reviews for fraud, manipulation, or significant liquidity loss.