VegaX Launches Kimchi Premium Index with New NFT + DeFi Indices
VegaX launched three new indices this week: the Kimchi Premium Index (VBKI), the VegaX Non-Fungible Token (NFT) Index (VNFTX), and the VegaX DeFi Core Index (VDCX). The goal of these indices is to provide more diversity for investors, making it easier than ever to invest in fast-growing blockchain-based assets.
The following is a brief introduction to each of these new indices.
VegaX Kimchi Premium Index (VBKI)
The Kimchi Premium Index (VBKI) is designed to track the arbitrage opportunity of trading Bitcoin in USD in global markets versus trading Bitcoin in Korean Won on Korean exchanges. The Kimchi Premium as it is called is the difference in cryptocurrency prices on South Korean exchanges vs. the rate on other global exchanges. It occurs when the price of a cryptocurrency is higher on South Korean exchanges than on exchanges located in other countries.
To help investors capture the arbitrage opportunities between domestic Korean exchange markets and global crypto asset markets, the index will represent the arbitrage value. Investors will only need to long the index to benefit from the arbitrage opportunity for each trading day.
The main data source for the index is historical Bitcoin prices in Korean Won provided by the Korean exchange Bithumb through investing.com and Bitcoin historical prices in USD provided by coingecko.com. The exchange rate is provided by finance.yahoo.com.
VegaX Non-Fungible Token Index (VNFTX)
The VegaX Non-Fungible Token Index (VNFTX) is designed to track the top 5 NFT tokens of financial protocols by market capitalization. Non-fungible tokens, which are tokens that are non-replaceable and unique, have gained significant attention from the investor community recently. The total NFT market capitalization is currently around $8 billion. Due to their popularity, it has become increasingly important to develop a method of tracking the performance of NFTs.
VNFTX tracks only governance tokens of a financial protocol. The names of the NFTs are then chosen in order of their market capitalization according to CoinGecko.
The prices calculated will be a volume-weighted average price every day. Price and volume data will be gathered hourly from the Binance.com API and the market capitalization data will be gathered daily from the Coingecko.com API.
More information on the Non-Fungible Token Index (VNFTX) can be found on our website.
VegaX DeFi Core Index (VDCX)
The VegaX DeFi Core Index (VDCX) is designed to track the top 5 DeFi governance tokens of financial protocols by market capitalization. DeFi, which stands for decentralized finance, has quickly become a leading application of cryptocurrencies and blockchain technology. DeFi provides financial services that utilize smart contracts. Decentralized financial services can be accessed with only a cell phone and internet connection.
The names of the top DeFi tokens are chosen in order of their market capitalization according to CoinGecko. The VDCX aims to be the premier benchmark for top-performing DeFi tokens.
The prices calculated will be a volume weighted average price every day. As of March 2021, VDCX tracks:
More information on the DeFi Core Index (VDCX) can be found on our website.
We look forward to any thoughts you have regarding these new indices and to continuing to assist you in your investment journey.
As always, please reach out to us with questions, comments, and suggestions! info@vegaxholdings.com
VegaX Holdings: https://vegaxholdings.com/
VegaX Holdings is the “BlackRock” of the Crypto Asset Industry. We provide investors globally with one-stop access to sophisticated and secure crypto asset management. The asset management industry is the largest in the world representing more than $80 trillion dollars in investments through investment products like ETFs, mutual funds, and indices that outperform investments in individual stocks. VegaX is the first to create similar investment products for Crypto providing investors outperformance versus buying individual cryptocurrencies. On average, investors buying VegaX products make 30% more profit versus just holding Bitcoin.
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