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NASDAQ Displays Data for Decentralized Finance Index

Coin Codex 2019-09-10 17:32:32

NASDAQ, the operator of the world’s second largest stock exchange, now displays data for an index that tracks the performance of tokens issued by six decentralized finance (DeFi) projects. The index is called DEFIX and consists of Augur’s REP, Amoveo’s VEO, Gnosis’ GNO, Numerai’s NMR, Maker’s MKR and 0x Project’s ZRX.

At the time of writing, MKR has the biggest weight, comprising 25% of the index. Notably, VEO has an outsized presence in the index (20%) considering that the token has a relatively modest market cap of $6.4 million.

In terms of year-to-date growth, all of the coins included in the index have seen gains except for ZRX, which suffered a -47.4% drop. NMR has been the best performer so far, almost doubling in value since January 1.

Nasdaq’s GIDS service will display the index under the ticker DEFX, but users can also track the index’s performance on TradingView and Google. 

A fund based on the DEFIX index is planned to be launched through brokerage firm EXANTE in the future. 

While NASDAQ isn’t quite making the same push into cryptocurrency as its competitor Intercontinental Exchange (the driving force behind Bakkt), the company has been dipping its toes into crypto assets, listing Brave New Coin’s BTC, ETH and XRP indexes and a reference index in partnership with CryptoCompare. Nasdaq CEO Adena Friedman has also expressed an optimistic stance on blockchain technology and cryptocurrencies on multiple occasions.

NASDAQ, the operator of the world’s second largest stock exchange, now displays data for an index that tracks the performance of tokens issued by six decentralized finance (DeFi) projects. The index is called DEFIX and consists of Augur’s REP, Amoveo’s VEO, Gnosis’ GNO, Numerai’s NMR, Maker’s MKR and 0x Project’s ZRX.

At the time of writing, MKR has the biggest weight, comprising 25% of the index. Notably, VEO has an outsized presence in the index (20%) considering that the token has a relatively modest market cap of $6.4 million.

In terms of year-to-date growth, all of the coins included in the index have seen gains except for ZRX, which suffered a -47.4% drop. NMR has been the best performer so far, almost doubling in value since January 1.

Nasdaq’s GIDS service will display the index under the ticker DEFX, but users can also track the index’s performance on TradingView and Google. 

A fund based on the DEFIX index is planned to be launched through brokerage firm EXANTE in the future. 

While NASDAQ isn’t quite making the same push into cryptocurrency as its competitor Intercontinental Exchange (the driving force behind Bakkt), the company has been dipping its toes into crypto assets, listing Brave New Coin’s BTC, ETH and XRP indexes and a reference index in partnership with CryptoCompare. Nasdaq CEO Adena Friedman has also expressed an optimistic stance on blockchain technology and cryptocurrencies on multiple occasions.