Using LPC:

LPC can be used to earn a share of the trading fees on EXPMC. The amount of LPC required to earn a share of the trading fees depends on the total amount of LPC held by all users. You can view your current earnings and the total amount of LPC held by all users in the "Earnings" section of your EXPMC account.

The fees to mint LPC, burn LPC or to perform swaps will vary based on whether the action improves the balance of assets or reduces it. For example, if the index has a large percentage of ETH and a small percentage of USDC, actions which further increase the amount of ETH the index has will have a high fee while actions which reduces the amount of ETH the index has will have a low fee.

The token weights can be seen on the Dashboard

Token weights are adjusted to help hedge LPC holders based on the open positions of traders. For example, if a lot of traders are long ETH, then ETH would have a higher token weight, if a lot of traders are short, then a higher token weight will be given to stablecoins.

If token prices are increasing, then the price of LPC will increase as well, even if a lot of traders have a long position on the platform. The portion reserved for long positions can be treated as stable in terms of its USD value since if prices increase the profits from that portion will be used to pay traders, and if prices decrease, the losses of traders will keep the USD value of the reserve portion the same.

If a lot of traders are short and larger weights are given to stablecoins, then LPC holders would have a synthetic exposure to the tokens being shorted, e.g. if ETH is being shorted then the price of LPC will decrease if the price of ETH decreases, if the price of ETH increases then the price of LPC will increase from the losses of the short positions.