Post-Rebalance Report for the Metaverse Index on 2023-09-13
Posted on Behalf of the IMC (@sidhemraj, @MrMadila)
Product: Metaverse Index (MVI)
Rebalance Date: 2023-09-11
Methodologist: Index Coop Internal Methodologist Committee
Introduction
This report outlines the proposed changes to the Metaverse Index, providing stakeholders with a comprehensive overview of the new index constituents, weights, and significant changes to the index composition. The last rebalance was conducted on 2023-06-01, and the next rebalance is scheduled for 2023-12-01.
Objective
The objective of MVI is to reflect the trend of Metaverse and Gaming activities in virtual economies powered by blockchain technology and NFTs, replacing the previous objective of capturing entertainment, social activities, and businesses in virtual economies powered by blockchain technology and NFTs.
Asset Inclusion Criteria
Eligible tokens must meet the following criteria:
- Must be ERC-20 tokens on the Ethereum blockchain
- Must be categorized in one or more of the following categories on CoinGecko: NFTs 1 1, Gaming, and Metaverse, or categorized as Metaverse or NFTs 1 1 by Messari
- The primary asset’s market capitalization must be at least 75,000 ETH as of the data collection date
- The token must have a median daily decentralized exchange trading volume of at least $100,000 in the 30-day period preceding the data collection date
- Tokens must have at least three months of on-chain liquidity and price history, as well as three months of operation history
- An independent security audit must have been performed on the protocol, and the results must have been reviewed by the product methodologists
- If no audit has been performed, the methodologists will apply subjective judgment based on an assessment of the criteria above and communications with the team.
Asset Weighting Methodology
The weight of constituents in MVI will be determined by a combination of square root market capitalization and decentralized exchange volume.
Weight = 0.75 * SRMW + 0.25 * DVM
SRMW = Square Root of Market Capitalization / Sum of the Square Root of Market Capitalization across all eligible assets
DVM = DEX Volume / Sum of the DEX Volume across all eligible assets
Previous Index Composition:
| Symbol | Price | Prior Weight |
|---|---|---|
| APE | $3.24 | 17.2% |
| GALA | $0.03 | 16.0% |
| RNDR | $2.70 | 10.7% |
| BLUR | $0.49 | 9.4% |
| SAND | $0.51 | 8.6% |
| MANA | $0.47 | 8.4% |
| AXS | $6.92 | 7.8% |
| IMX | $0.74 | 7.8% |
| ILV | $47.52 | 5.1% |
| ENS | $9.94 | 4.7% |
| FET | $0.24 | 4.3% |
New Index Composition:
| Symbol | Price | Weight |
|---|---|---|
| APE | $1.45 | 15.0% |
| MC | $0.29 | 9.8% |
| ILV | $42.38 | 9.6% |
| IMX | $0.56 | 9.2% |
| SAND | $0.32 | 8.8% |
| RNDR | $1.48 | 8.5% |
| GALA | $0.02 | 8.3% |
| AXS | $0.74 | 8.0% |
| MANA | $0.31 | 7.8% |
| ENS | $7.76 | 5.4% |
| FET | $0.22 | 4.8% |
| BLUR | $0.20 | 4.8% |
Constituents Removed:
The following tokens are being removed from the index:
- None
Constituents Added:
MC: Merit Circle
Market Cap: $150,624,081
Median 30-Day DEX Volume: $21,751,947
“The Merit Circle DAO is an ever-evolving digital ecosystem built by a global community to ensure the future of gaming. With a strong foundation in the web3 space, we are committed to integrating the endless possibilities of blockchain technology with the latest in gaming to create the next generation of immersive gaming experiences.” (Source: CoinGecko)
Implementation:
The relevant dates for the upcoming rebalance are
Data Collection Date: 2023-09-05
Pre-Rebalance Report Date: 2023-09-09
Rebalance Date: 2023-09-11
Post-Rebalance Report Date: 2023-09-13
There is no need for token holders or distribution partners to take any action.
Summary:
The Metaverse Index (MVI) was rebalanced on September 11th, 2023 with the following changes to the composition:
- No tokens were removed
- MC was added to the index as a leading project in its respective category
Raw data can be found here