Index Overview

The indices are no longer active.

Currently the following Indices are available on the youves platform.

#	Name	Description	Index Type
1	DEFI	A capital weighted price index on the governance tokens of five leading DEFI projects	price index

Methodology

Some of the methodology in here may be refined at a later stage. Possibly a rebalancing in several steps and also some clearly defined exception handling. In any case the changes will be clearly communicated, and they will aim to be non-disruptive.

Rebalancing

Frequency

Semi-annually

Rebalancing Datetimes

The observation and the rebalancing happen at the same time.

The observation of values for the rebalancing is done on coinmarketcap.com.

The rebalancing time is 08:00 UTC. The rebalancing dates are the 21 September and 21 March in each year, starting from the 21 September 2021.

Index Constituents

The index constituents and the relevant values are described in each index details page.

Building Methodology

The index will be rebalanced semi-annually, or ad hoc in case there is the need. Each rebalancing defines a new series s with the timestap j of the rebalancing. s=j_previous signifies the series immediately previous to s=j.

Index[t=ti,s=j]

Constituent Weights

On any rebalancing datetime t=tj at the rebalancing for the start of series s=j, the parameters for constituent a=i are calculated as follows.

market_capitalization[t=tj, s=j, a=i] = outstanding_number_tokens[t=tj, s=j, a=i] * price_of_token[s=j, a=i]total_market_capitalisation[t=tj, s=j] = sum_{i}(market_capitalisation[t=tj, s=j, a=i])rebalanced_weight[t=tj, s=j, a=i] = market_capitalisation[t=tj, s=j, a=i] / total_market_capitalisation[s=j]
normalised_number_tokens[s=j, a=i] = outstanding_number_tokens[s=j, a=i] / total_market_capitalisation[s=j]

Initial Rebalancing Date

The initial index value Index[t=0, s=0] on t=0 will be 1 USD.

Index[t=0, s=0] = 1 USD

The market_capitalisation[s=0, a=i], total_market_capitalisation[s=0] and weight[s=j, a=i] are as described above in Constituent Weights.

Index Value on any Date

The current series is j, t=tj is the start datetime of series j. The performance of asset a=i on datetime t=tk is defined as follows.

performance_of_token[t=tk, s=j, a=i] = price_of_token[t=tk, a=i] / price_of_token[t=tj, a=i] - 1

The index value on any datetime t=tk is defined as follows. The current series is j.

Index[t=tk, s=j] = Index[t=tj, s=j] * sum_{i}(normalised_number_tokens[t=tj, a=i] * (performance_of_token[t=tk, s=j, a=i] + 1))

Please note that inbetween observation dates

Subsequent Observation Date

At each subsequent rebalancing date j the index value of the new series is set to the value of the old series j_previous.

Index[t=tj, s=j] = Index[t=tj, s=j_previous]