Post-Rebalance Report for the Metaverse Index on 2023-03-01

Post-Rebalance Report for the Metaverse Index on 2023-03-01

Product: Metaverse Index (MVI)
Rebalance Date: 2023-03-01
Methodologist: Index Coop Internal Methodologist Committee


This post-rebalance report provides stakeholders with an overview of the new index composition of the Metaverse Index (MVI), as well as an analysis of the rebalance results following the changes made in the methodology outlined in the pre-rebalance report.

New Index Composition:

Following the rebalance conducted on March 1st, 2023, the new index composition for MVI is as follows:

Token Units
APE 1.200099
AUDIO 4.368073
AXS 0.25689
ENJ 3.455703
ENS 0.118807
GALA 44.389137
ILV 0.022157
IMX 2.089237
LOOKS 11.95625
MANA 4.128977
MC 2.989286
SAND 3.96974
wETH* 0.00011

*During the rebalancing of the index, there was market volatility which resulted in a small quantity of wETH (0.00011 wETH per MVI token) being left in the index once the rebalancing was done. This happened because the assets that were being removed or reduced in weightage were sold for wETH, while the assets that were being increased in weightage reached their desired levels before the entire amount of wETH was sold. This remaining wETH will be removed in the next rebalancing process but will be left in the index as of now to aid in preserving capital.

Constituents Removed:

The following tokens were removed from the index:

  • YGG

  • DG

  • REVV

  • WAXE

  • NFTX


  • ERN

  • TVK

  • RLY

  • RARI

Constituents Added:

The following tokens were added to the index:

  • GALA

  • IMX

  • ENS

Rebalance Results:

Rebalance Started: 2023-03-01 23:02:11 UTC

Rebalance Ended: 2023-03-04 0:48:59 UTC

Total Trades: 255

Total Gas Cost: 1.8988 ETH

Approx. Amount Sold: $3,342,154.73

Approx. Amount Bought: $3,297,990.44

Approx. Gain / Loss: $(44,164.29)

Approx. Loss / Amount Traded: 1.32%
Approx. Loss / TVL: 0.90%

Data available here


The Metaverse Index (MVI) underwent a rebalance on March 1st, 2023. The new index composition included the addition of GALA, IMX, and ENS tokens, while YGG, DG, REVV, WAXE, NFTX, WHALE, ERN, TVK, RLY, and RARI were removed. The rebalance resulted in 255 trades with a total gas cost of 1.8988 ETH and an approximate gain/loss of $(44,164.29). The approximate loss/amount traded was 1.32%, and the approximate loss/TVL was 0.90%.


Fantastic work! Thank you:)


Good Stuff!. Is the methodology committee looking into an L2 strategy? there are projects that MAGIC and others that should be in the index.

Hey @Phii,

We are looking into a change to our rebalancing process that would allow us to source liquidity from anywhere whether that be CEXs, L2s, or other chains. We expect that it will be completed within the next two rebalances of MVI.

You are right that MAGIC would have been included if we had this upgrade in place now. Stay tuned!

  • Anthony