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LEVERJ, Brave New Coin launch DeFi index-based futures

By Sunniva Kolostyak

February 25, 2021

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LEVERJ, the world’s first scalable decentralised derivatives exchange, has unveiled its BNC Blue-Chip DeFi index-based futures, powered by digital asset data infrastructure firm Brave New Coin.

The index tracks real-time performance of the top eight DeFi assets: Uniswap (UNI), Aave (AAVE), Synthetic Network Token (SNX), SushiSwap (SUSHI), Maker (MKR), Yearn Finance (YFI), Compound (COMP) and Universal Market Access (UMA).

LEVERJ logoWith the institutional-grade index product, LEVERJ is aiming to allow for up to 50x coverage. It is the first in the world to track DeFi assets across multiple pricing sources at a sub-second frequency, and it tracks basket weighted by free-float market capitalisation, capped at 25 per cent. Asset weighting is set at the beginning of each quarter and remains constant throughout the quarter.

“Exposure to the BNC Blue-Chip DeFi Index offers diversification across an industry group. This reduces portfolio risk and means investors don’t have to put all their eggs in one basket,” Fran Strajnar, Founder of Brave New Coin, said.

“Risk is spread, and buyers don’t have to scrutinise the attributes of individual tokens. This removes most of the guesswork from the DeFi investment process.”

The majority of tokens in the BNC Blue-Chip DeFi index are designed to act as governance tokens that empower holders to vote on proposals to update the DeFi protocols they are native to. According to LEVERJ, many of these assets have seen aggressive price growth recently – in the past year, the prices of LINK, SNX and MKR have risen 844 per cent, 1791 per cent and 298 per cent respectively.

The market has unanimously decided that governance of these DeFi protocols, and a share of voting rights to determine the future direction of some of the most innovative, visible, and active projects in the digital asset space, is a valuable commodity.

Also commenting, Shashank Tiwari, one of the core members of the gluon.network Layer 2 technology, which powers LEVERJ.io’s ultra-fast futures trading platform, said: “Trading an index that represents the blue-chip of DeFi on a fast and scalable DeFi derivatives platform, LEVERJ, is like having your cake and eating it too.”

Bharath Rao, CEO of LEVERJ Exchange, added: “The BNC Blue-Chip DeFi index is the beginning of an exciting product roadmap. As an exchange, we want to differentiate ourselves and offer traders not just the great benefits of non-custodial trading, but also innovative tradable products. We are excited to launch the DeFi index then focus on a steady rollout of new instruments with BNC in the coming weeks and months.”

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