Indexed Finance (NDX) price has declined today.
The price of Indexed Finance (NDX) is $0.008814171503 today with a 24-hour trading volume of $539.95. This represents a -0.70% price decline in the last 24 hours and a -73.50% price decline in the past 7 days. With a circulating supply of 3.4 Million NDX, Indexed Finance is valued at a market cap of $30,481.12.
What is Indexed Finance?
Indexed Finance is a protocol that focuses on portfolio management and is similar to Exchange Traded Fund (ETF). The Assets Under Management (AUM) tracks the underlying assets’ performance.
Index pools are then tokenized into a token that represents the pool.
An Automated Market Maker (AMM) mechanism is integrated on the Indexed Finance protocol to rebalance the index pools. NDX token holders passively manage the pools via governance, including management strategies and the market sector’s definition.
A brief history of Indexed Finance
Indexed Finance was founded by two people, Dillion Kellar and an anonymous person known as PR0. Currently, there are a total of 5 members working on the project.
Indexed Finance started in August 2020, and it went live on Ethereum mainnet in December 2020. The project had an initial private investment by Molly (The creator of HEGIC) and one of the founders, totaling ~$125,000.
They continued to have several fundraising rounds, and the total investment for Indexed Finance is ~$525,000 as of February 2021.
How does Indexed Finance work?
Currently, Indexed Finance has one product, a set of market capitalization-weighted index pools that track a given sector’s performance, represented as lists of tokens managed by NDX governance.
There are currently four pools available under this product focusing on the Decentralized Finance (DeFi) sector. Each of the pool is tokenized into an ERC-20 index token respectively:
- DEGEN Index (DEGEN)
- Cryptocurrency Top 10 Tokens Index (CC10)
- Oracle Top 5 Index (ORCL5)
- DEFI Top 5 Tokens Index (DEFI5)
The formula used to determine the weight of the underlying assets of each pool is the square root of their Fully Diluted Valuation (FDV). This allows the AUM to have an order of magnitude difference between the highest and lowest FDV.
The indices’ value calculation is simply the total value of underlying assets over the total pool supply.
Each index pool rebalances its underlying assets to accurately represent the market sectors over time. The pool’s rebalancing is done by buying and selling the underlying assets until it reaches the desired weight.
How can I obtain the ERC-20 version of the index pool?
Users can obtain CC10 and DEFI5 via three ways:
- Providing the underlying assets to mint the respective tokens
- Use the Uniswap minter
- Buy it off the secondary market (Uniswap)
The index token holders can burn their tokens to claim the underlying assets or swap with built-in decentralized exchanges on Indexed Finance protocol.
If you are keen to know what is the step-by-step to mint or buy the index tokens, please refer to this blog post.
What can you do with an NDX token?
NDX is the native token to Indexed Finance protocol, and it acts as the governance token. The community can decide which assets to represent a given market sector.
Here is a list of responsibilities of NDX token holder in Governance:
- Upgrading proxy implementations as needed.
- Deploying new index pools.
- Managing the token categories which indices select from and creating new ones.
- Approving pool controllers that implement new management strategies.
- Setting configuration values such as swap fees.
Votes are done on-chain. The quorum for on-chain votes is 400,000 NDX or 4% of the total supply.
Note that there is no reward distributed for governance voting on Indexed Finance at the moment.
How do I obtain NDX?
There are two ways you can obtain NDX:
-
Buy it off the secondary market
Users can buy or trade NDX via Uniswap -
Liquidity mining
Users can stake CC10, DEFI5, or the Uniswap LP tokens for their respective WETH pairs and earn NDX as a reward. Check out our yield farming page to know how much can you earn:
On top of staking, the stakers can earn a fee whenever a singular asset is swap, mint, or burn (2.5% fees are incurred every time a singular asset is provided into the indices in exchange for the index tokens).
Has Indexed Finance been audited?
Indexed Finance contract has only been audited by two independent security experts: Daniel Luca (a former auditor for Consensys diligence) and Mudit Gupta (The blockchain engineer at Polymath).
You can find the reports here:
Extra reading:
Where can you buy Indexed Finance?
NDX tokens can be traded on decentralized exchanges. The most popular exchange to buy and trade Indexed Finance is Bancor (V2), where the most active trading pair NDX/BNT has a trading volume of $539.95 in the last 24 hours.
What is the daily trading volume of Indexed Finance (NDX)?
The trading volume of Indexed Finance (NDX) is $539.95 in the last 24 hours, representing a -11.80% decrease from one day ago and signalling a recent fall in market activity.
What is the all-time high for Indexed Finance (NDX)?
The highest price paid for Indexed Finance (NDX) is $27.71, which was recorded on Feb 04, 2021 (almost 3 years). Comparatively, the current price is -100.00% lower than the all-time high price.
What is the all-time low for Indexed Finance (NDX)?
The lowest price paid for Indexed Finance (NDX) is $0.003783851749, which was recorded on Oct 28, 2023 (about 1 month). Comparatively, the current price is 133.80% higher than the all-time low price.
What is the market cap of Indexed Finance (NDX)?
Market capitalization of Indexed Finance (NDX) is $30,481.12 and is ranked #3529 on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of NDX tokens (3.4 Million tokens are tradable on the market today).
What is the fully diluted valuation of Indexed Finance (NDX)?
The fully diluted valuation (FDV) of Indexed Finance (NDX) is $88,451.82. This is a statistical representation of the maximum market cap, assuming the maximum number of 10 Million NDX tokens are in circulation today. Depending on how the emission schedule of NDX tokens are designed, it might take multiple years before FDV is realized.
How does the price performance of Indexed Finance compare against its peers?
With a price decline of -73.50% in the last 7 days, Indexed Finance (NDX) is underperforming the global cryptocurrency market which is up 1.10%, while underperforming when compared to similar Ethereum Ecosystem cryptocurrencies which are up 12.70%.
What is the market sentiment of Indexed Finance today?
There are no votes on Indexed Finance (NDX) today. Be the first to vote and share this with your community.
How to add Indexed Finance (NDX) to MetaMask?
Adding Indexed Finance (NDX) to MetaMask allows you to view your token holdings, trade on decentralized exchanges, and more. To add them, you’ll need to import NDX as a token. You can copy NDX’s contract address (0x86772b1409b61c639eaac9ba0acfbb6e238e5f83) and import it manually, or if you've installed MetaMask's chrome extension, add NDX to MetaMask with one click on CoinGecko.
Add NDX to MetaMask.
