Hord is a protocol that allows for the creation and trading of ETFs, also known as tokenized baskets. To learn more about Hord, you can check out our in-depth analysis of the project. Hord involves two main participants: Champions and their Hord. Champions are typically influential market leaders, funds, or long-term traders who broadcast their portfolio data to their Hord. Hord consists of two key smart contracts: the Champion Contract and the Mirror Contract. The Champion Contract broadcasts the Champion's portfolio data to the Mirror Contract, which allows the Hord to deposit funds. The Mirror Contract then acquires assets in proportion to the Champion's portfolio and mints a token to reflect the deposited funds. This token represents the tokenized portfolio of the Champion and can be redeemed for the underlying value held in the Mirror Contract. The ETF tokens can be traded on the Hord DEX, which is a decentralized exchange with an order book.